To: nokomis who wrote (2158 ) 7/9/1999 4:35:00 PM From: Sir Francis Drake Read Replies (3) | Respond to
nokomis - I haven't followed FORE too much, so you may be right. However, is it possible that FORE got taken over *precisely* because it became affordable? As I recall, rumors about FORE takeover have swirled around for quite some time - maybe the takover didn't happen earlier, because it was too expensive relative to the value it gave. Once it got cheaper, a nice takeover offer was very tempting to shareholders. Imagine if FORE started out at $35 - do you imagine the offer would have been $75? I don't think soooooo! What was FORE all time high? Did it get taken over for more than that? It is no great shakes for the long-term buy and holder, if the stock declines precipitously, and someone graciously comes in and offers a buyout at half the all-time high price. Obviously, I don't think this is the case with NITE, because as I've stated repeatedly, I really like NITE on fundamental grounds. My point is rather, that as a trader, I made a big mistake not paying attention to the TA (mind you, *my* mistake) - and I am not about to go down with NITE, even temporarily. As a longer-term buy and holder, you can afford to ride out these dips and valleys for a few months. As a daytrader, I can't - I must have my capital working for me at all times. I bought into NITE on great FA, and bad TA - I tied up capital, and made very little, while the market was blazing (I should have doubled my QCOM position). So, the mistake is all mine. You, as a buy and holder (I presume?), are right for your style of investing - hold on, until or unless the fundamentals change. Bottom line, I blame no one but myself, and I certainly don't complain about NITE as a stock - the trading blunders are all mine.
