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To: Dr. David Gleitman who wrote (13691)	4/15/2000 6:48:00 AM
From: pinhi	Respond to of 35685

David, I'm in exactly the same boat-including the insomnia. I don't have to add anything to what your post-it says it all. Pinhi

To: Dr. David Gleitman who wrote (13691)	4/15/2000 7:42:00 AM
From: bela_ghoulashi	Read Replies (1) \| Respond to of 35685

One of the wisest things I've read in the past few months was a brief statement on greed and fear. It could even have been here on the porch that I saw it, I cannot recall. But the gist of it was this: it is always said that the markets are driven by two factors, greed and fear. We have all heard this so often we believe it, when in fact it isn't exactly as true as it sounds. Because it isn't really greed that drives most of today's investors, those that post here, on Yahoo, on Raging Bull, or wherever. It is not greed, it is hope. Two very different things. I read many of the posts here on the porch, and many posts elsewhere. I don't see greedy people in them, for the most part, I see hopeful people. Bright, optimistic, hopeful people. People eager to share, to help others, to offer insight and assistance, to learn together, and to prosper together. Hope may blind us from time to time. It may cause us to make poor decisions on occasion. But it is also the primary motivator that causes us to act, not only on our behalf, but on behalf of others...our families, our friends, those we love, even strangers whom we may never meet, half a continent away. Hope, not greed.

To: Dr. David Gleitman who wrote (13691)	4/15/2000 9:10:00 AM
From: bonnuss_in_austin	Respond to of 35685

Dr. David Gleitman: I hope that you sleep well. I can relate to the insomnia, for sure. In good times as well as bad due to investing. Hope you don't mind me making this comment ... I think you are being awfully hard on yourself right now ... My mind is swimming this morning crowded with "snippets" I've read on message boards; been told by brokers, etc... (I like your hope vs greed post, blandbutmarvellous, BTW) One of them is: "We make the best decisions of which we are capable at the time." (I may have picked that up here, in fact) A few memorable lessons a couple of my former full-service brokers instilled in me (of course, they were only trying to cover their rear ends -- LOL) include: "You can't look back." As basic as that is, it's a very powerful concept to me that I constantly keep in mind in this all-encompassing investing lifestyle. (I can't remember the other "rules to live by" at the moment from this broker ... lol. When I do I'll post them.) I know in the rest of my own life, I've learned much more from my "failures" than my successes ... suspect that will be the case with this pain we have suffered all week long ... I really appreciate the kind, gentle (for the most part) nature of this Porch! Best Regs, bonnuss in austin ###

To: Dr. David Gleitman who wrote (13691)	4/15/2000 10:07:00 AM
From: Jill	Read Replies (1) \| Respond to of 35685

David, I'm in much the same boat, 2/3 down (stunned) and trying to figure out what to do. Short put positions that were quite safe 2 weeks ago (5K here, 7K there) are way out of whack (40K here, 40K there). I've thought about it and posted on my options thread and here's what I think: There are too many like you and me, so this carnage will continue next week. Therefore go to all cash asap. I'm going to do that in brokerage and keogh. Remember, cash generates 100% margin whereas many of our favorite stocks genreate 50%. With my cash I am going to repair my short put positions out to 01 or 02, by that I mean, buy them back (makes me sick) and then sell them further out and a lower strike, taking in the same amount--so essentially I'm back to square one, but with a longer time frame and no loss. That gives me ample recovery time but not nearly as much playing room. With whatever is leftover, I am taking about 20% of that and buying puts on the NAZ itself, probably (QQQ). I believe we are going lower short-term. With the $ gained from those puts, I will invest sometime this spring. I truly am concerned about Greenspan raising rates again in May--he really could do it, another .25 to "lock" in this crash. As someone pointed out, he only lowers rates when the economy is threatened, not the market. And we will rebuild. I think this weekend is a great time to discuss strategies.

To: Dr. David Gleitman who wrote (13691)	4/15/2000 10:13:00 AM
From: marginmike	Respond to of 35685

David a strategy you might try is to sell your positions, and make up 20-30% by selling puts. If the market goes sideways or down a litlle from here you will recoup 20-30% of your loss. An example of Qcom july 105's are 20 bucks. Sell the stock at 105 and sit with the puts(sold)if Q closes above 105 you will be close to the 125 price. If it goes down to 85 you would be even. If the stock goes even lower you could push the puts out until it turns arround. I have 145 puts I sold at 10 bucks I am 30 bucks in the whole. All I am doing now is going out to July and selling 125's for break even. I can keep pushing the trade out, so in the long term as long as Q eventially gets back to where it is I would be OK.

To: Dr. David Gleitman who wrote (13691)	4/15/2000 5:24:00 PM
From: RocketMan	Respond to of 35685

Hey, Doc, FWIW, I lost 90% of my investments 2-3 years ago in some baaaad stocks. Thought I was finished, but by the end of last year I was hitting new highs. Also, in 87 we were being told the western economic system was kaput, and within a year or two we were hitting new highs. Don't be hard on yourself, and never be a permabull or a permabear, both positions can lose you a bundle. Just don't fight the tape, take profits, ignore analysts, hedge when needed, and you'll be back stronger than ever. I think AG will drive the country into a recession by the 3rd or 4th quarter (what it is 2nd best at), but after that the Fed will do what it is best at. Throwing money at the economy and creating another artificial boom. Between those two Fed-caused extremes, the underlying economy remains sound and will keep chugging away in an expansion that should last through most of this decade.

To: Dr. David Gleitman who wrote (13691)	4/15/2000 6:03:00 PM
From: Clappy	Read Replies (2) \| Respond to of 35685

Hi Doc. Thanks for your post. It hit home with me. I feel like I've personally hit rock bottom. Much the way and addict hits rock bottom. I kept kidding myself that the market would come back. I just kept getting deeper and deeper into it. It affected my emotions. It turned a kind person into a monster. I took my anger out on anyone who was in my way, including people posting here, my wife, and my children. Greed does strange things to a person. It effects their daily lives and interrupts the things that are truly important. I'm going to try not to kid myself anymore. The companies I loved are not going away. They will continue to build this new economy. However, they will not make my soul rich and enable me to live a stress free life. I will continue to hold them and perhaps buy more of them when the shake out ends. The hard part will be to try not to follow them every single day. Not to let it consume my entire life like it has been. Not to read each and every message about them and get either elated or angry about the view points posted. It shouldn't be this way. There is so much more to life. Having said all this, I feel as if the market will try as hard as it can to try to pull me back into it's grasp. This pain that I feel should signal a temporary bottom. I'm not going to let the bastards control me anymore, though. Life is too short. I'm picking a few to be my ultra long term holds. With whatever money I may come into, I plan on using Voltaire's covered call method to systematically work to build up for my retirement. I will not fall in love with my stocks anymore. I will save falling in love for my wife. I wasted so much precious time this year studying companies and the stock market. I've learned a lot. I won't let it consume anymore of my precious time. I'll set aside a small alottment of time each day or week. That is all it will get from me. It's time for a change. -HumbledClappy P.S. I would like to apologize to everyone for letting this market get the best of me. I showed you all my anger and hostilities. (I usually save that side of me only for my wife...) I love you all and will continue to be a part of this wonderful place. Hopefully I will be a positive aspect and not the jack@ss I've been as of late. P.P.S. Please remind me of this post when the market gets good again, should you see me acting as if I know something. P.P.P.S. This doesn't mean that I don't want anymore stock tips. :^)