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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: RetiredNow who wrote (53334)	5/23/2001 9:25:45 AM
From: Stock Farmer	Read Replies (1) \| Respond to of 77400

You are completely correct. If your share purchase decisions are based on a timescale of days or weeks or months then buying at $16.50 is a good thing to do. Provided only for those shares that you have indeed sold. There were a whole bunch of people posting pleased as punch to have purchased CSCO at places like $50, gleeful when it spiked up to $54... and possibly still holding. Notice also I used the word "purchase decisions", because my perspective is as a LTBH "investor". When I purchase a stock as an investor I am choosing to buy a slice of the future. Not flip the share some time in the next minute or day or week or month to some idiot who wants to pay more than I did. I define that business as speculation and it is a completely different kettle of fish with completely different rules. Speculators are the ones who delight in the momentary gains and feel the pain of momentary loss. There are a few on the thread and they at least admit it and can then go ahead and make money. I am just poking sticks at the speculators who are pretending to be investors. Because they are being quite irrational. I have held my portfolio through three losses bigger than I ever thought I would ever take... and came out the other side, until I felt the risk of not coming out the other side "the next time" was too great. So I know something about riding down and up. So if you are an investor then you shut up about 50% gains or losses in the span of days, because these days are irrrelevant. You would concern yourself instead with the conditions far into the future - that trend line mean towards which you admit all things regress. Mindmeld, you are speculating with cisco's stock. Not investing. I am of the opinion that nobody should be "investing" at this stage of the market - at least not with gusto. However that does not mean one should sit idly by. Speculation is fine. But call it by its proper name. John.