Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: MileHigh who wrote (62475)	1/16/2000 2:53:00 PM
From: waverider	Respond to of 152472

MH...being vigilant and dogmatic in OPTIONS and short term stock gambles ARE EXACTLY what one needs to do. Why? Because one can NOT predict the market with any certainty. If you do not set a proper exit point and stick to it, you are subject to emotions. That is fatal for a gambler. FATAL. The worst thing a trader can do is say... "oh, I'm going to hold this position until the momentum slows down...then I'll exit." It doesn't work that way MH. A case in point is what has happened with QCOM this past week or so. Most everyone was giddy with the price appreciation, then suddenly people are talking about exiting positions because they are nervous...why?...because they fear we will go lower. Ridiculous. This has caused them to lose a HUGE amount of capital while sitting around until Friday. Once again FEAR and GREED runs their decision making process. They were greedy at $200+ and they are now fearful at $140...so they make emotional decisions and get out. In the face of stellar earnings and a solid market, selling is NOT the proper thing to do here...but their fear is clouding their judgement. If you are going to gamble and play short term swings, the only way to make rational decisions is through cold logic. Set targets and STICK TO THEM NO MATTER WHAT. That is NOT what most of the posters have been doing here. Rick