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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: Bald Man from Mars who wrote (26735)	11/11/1999 10:03:00 PM
From: JoF	Read Replies (1) \| Respond to of 108040

Bald Man, Darlin, it hurts losing money no matter how much you have. I hate losing money! Absolutely hate it. When I saw our little stock drop today, I must admit I didn't panic, and the only reason I didn't is not because I have the greenbacks piled up in the bank. I just look at it this way. I have lost a ton of money in the market but I have also made plenty too. If I have the old knee jerk reaction, hit the button cause I see every point drop as 2K lost, I will end up losing a lot more. I used to use stop/sells as my stocks went up. I was told this was a smart thing to do to protect my profit until one day my stop got hit and I lost a big chunk of change just to see the stock pop up immediately from my stop point and move on up another 9 points. ;( I am more apt to hit the panic button when I am short a stock then when I hold a long position. I lost a boat load being short RBAK the for the third time around. If the company I am long in, whether it be for an hour or a day, has anything going for it at all I will make my money back. I held on to the philosophy to cut your losses early so that you can live again to trade another day. I don't do that anymore and I have made money for dropping that one from my list of "rules" to trade by. I will give you an example. I bought PPRO, 500 shares at 39.5 just to see it tank right afterwards and I do mean tank down to 20something. Everyone of my friends said to cut my losses. I didn't. Just couldn't bring myself to do that. I had just taken a brutal beating shorting RBAK...but I did sell 1/2 of my position for a 1200 loss. One month later that same stock hit 109 and is still on the rise. I got out at 47 cause I was scared. Wanted to preserve the possibility of gaining some profit so when I saw the stock on the rise I put in a sell order and left. Been kicking myself in the butt ever since, not just for selling my 250 at a loss, but also for not letting PPRO run. Trading for me has been quite an education. I have learned and am learning more about myself everyday and more about human nature. I trade by my rules and I have to remind myself what those rules are everyday. Fear and trading just don't work for me. I do believe that ALAN is a good company. I believe they may not make a 10 point rise tomorrow, although I wish they would, but I am not going to bail because some MM decided to shake the trees, either. When I said to you that there isn't much downside I meant that it can only go to zero. Try being short one at 150 that adds 20 points in less then a day and does that everyday until it splits...RBAK did that to me! I finally got out after the split and shares were unlocked again but it hurt like hell! ALAN is at 2 3/4 right now. It came off its low of 2 1/8 fast, real fast. Wonder why? They just acquired a kick ass company. They are profitable and are going to get more profitable. Have a 4.9M float with a market cap of 13M. This one I will wait out and that is for sure. Happy Trading to us both! Jo