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Pastimes : Trading the markets..... -- Ignore unavailable to you. Want to Upgrade?

To: Lee Lichterman III who wrote (2125)	12/19/2000 10:02:49 PM
From: robert b furman	Read Replies (3) \| Respond to of 4583

Dear DR. Let me spill my guts: Yes I'm old fashioned - I sold out before the top as I thought it was a blow-off. I have waited for panic like dips and yes I'm underwater 2-3 points on my smallest holdings ( average down opportunities) Alas I've never made any money on quick trades - I've found the long slow boring persistent investments to be 4-6 baggers after several years of ownership.So tomorrow's trading doesn't phase me a bit - except I'd like to steal some more great (dare I say it)" value stocks". Last but not least ( I feel so dirty here) - one does pay .20 per year in cash dividends. In the past I used the money to leverage out on margin and cover some of my obscene margin debt interest expense.But after the last 6 bagger (I sold out in February) I swore I'd never use margin again unless I saw a Vix spike up into the 50-60 range. You see Doc - I couldn't sleep at night,my Dentist told me I was grinding my teeth in my sleep.I didn't tell him I was leveraged to the max on great semi-equip stocks that cycle out every 2 years. So I'm out of the closet.I buy value - hold it tenaciously for the long term. Yes William O'Neill I have a heck of a time selling at a loss of 8 %.My original mentor taught me you NEVER sell at a loss.Corollary to that is you never pay an extended price - and I have sinned. I've lusted for stock and paid too much.I still even do it. OH I'm really PURGING MY SOUL HERE. FEELS SO GOOD. So this little nasty market can look blacker than spades out into the future - and I'll buy some more - for the long term.As a matter of fact one of the very best signs that the bottom is in - will be the talk of "it will never recover". That is the final spice for complete capitulation.Long term loss of speculation joy - that kills speculators like a wooden spike in a vampire. It will be scary. I'll regret evry past purchase - for having wonderful hindsight,I will have lusted for the perfect bottom and buy.But OVER TIME I'll smile. You see I don't expect the perfect buy - I don't expect the perfect sell. If I miss the bottom 10% and leave the top 15 % it still leaves the middle 75%. That is enough ,over time, to make anyone patient and not greedy just plain FILTHY RICH. It just takes TIME and PATIENCE. GZ jokes about it - it is in fact the best advice he gives. I've never seen anybody pull 200 points on the SPOO except GZ. It took calm patience. I hope to display it with my holdings: Nvls,Cohu, Ltxx, Intt,Kvhi. I have sinned but I WILL SURVIVE. Thank you for your very common sense reasonable post - I sense you purged just a touch in this difficult market as well. Bob Calling me old is a cheap shot - I still have time for one more cycle out there somewhere at 48 - DON'T I ?????gggggg