To: Sofa Kingdom who wrote (2130 ) 12/1/1999 1:08:00 PM From: papazitto Read Replies (2) | Respond to
SOFA: I like most have taken profits too early on i-net stocks. I was discussing this particular mal the other day with an attorney/investor friend and the conclusion is: We all sell to early out of fear!!! Why? Because we are fearful of giving back our profits and we are blinded of the future prospects of a stock out of fear, so we sell before its time, before the stock price does what it has to do on the up or downside. But one thing holds true with due diligence and a position that isn't overly leveraged meaning not having all your eggs in one basket, the position should be held long and forgotten meaning look at it daily if you like but not like LIFE OR DEATH allowing the stock and the markets to do what they need to do in the short term so that in the long term things that should can evolve and things that shouldn't evolve find their demise. Trading, DAY Trading good long term holds like I believe NETP to be and I am a STRONG LONG may be good for a quick in and out, but I've been looking at just that while I hold NETP long, in other words getting out at 40 and buying back at 33,34, 35, or 36,37,38 which is it at what price does one get locked out of the upward trend??? The answer is I don't know and I don't want to get caught out of NETP as it bulls and rages forward on the upside, What the recent up trend isn't proof enough that is raging forward and up? Do we get so caught up with the fear of giving back some or all of our profits in a good long term hold that we leave loads of $$$$$$ on the table. Personal Example: This summer a couple of months ago I was long AOL at an average price of $87.00 on 6,000 shares, I sold my position at 97 and took a nice quick profit but I'll be dammed if I didn't and still am kicking myself for having left $500,000 + - on the table. I SOLD OUT OF FEAR!!! How many of us fes up to that?
