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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Knyyt who wrote (679)	11/14/2000 9:34:48 PM
From: Elvis Jones	Respond to of 74559

What kinda idiot lets his trading account fall by 90%???!!!! Maybe he was confused and didnt see the arrows pointing DOWN? It seems lots of people are having problems with knowing where the arrows are pointing these days.

To: Knyyt who wrote (679)	11/14/2000 10:05:26 PM
From: EL KABONG!!!	Respond to of 74559

Knyyt, What kinda idiot lets his trading account fall by 90%???!!!! I don't necessarily think that the poor fellow was an idiot. There are many other possible explanations. To start with, I'd venture a wild guess that it's a gimme that he didn't have any stop loss points set on anything within his portfolio. Beyond that, I might also guess that he (like so many other folks) was the victim of his own belief that the "dips" in March/April were merely temporary and he'd be fine when the "buy on the dips" players re-entered the market. Wrong! Never happened that time like it had so many times in the past few months. I might also guess that he became a victim of his own greed. I'm really presuming that some (if not many) of his stocks were risky tech plays, and that (no guess here) he failed to take any profits when he had the opportunities to do so. Perhaps he was getting advice from somewhere that ultimately turned sour on him. For most people, taking advice on when to buy is easy. It's much tougher to recognize (or hear) when to sell. The bottom line for me is that I think the chap was merely very inexperienced in investing. It's likely that he "knew" only a raging bull market, and a bull market is what he expected to last for quite a bit longer. It's hard for most people that are new to investing to recognize what is and what is not an overvalued position. And I'll close with this thought. I'd guess that he's not very experienced with the lessons regarding diversification. Just my thoughts though. KJC PS - Definition: Long term hold An investment strategy taken by a swing trader when his long position tumbled!