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Biotech / Medical : The thread of life -- Ignore unavailable to you. Want to Upgrade?

To: tom pope who wrote (365)	6/5/2002 2:49:32 AM
From: Mike McFarland	Read Replies (1) \| Respond to of 1336

Goodie, somebody came to visit the thread today, hi Tom! <g> Please excuse the long post which follows, this sharing of thoughts, and blogging, is just something I like to do. I wonder if I will outgrow it? Smart man? Hard to say. You try to do the best thing for your financial future, and who can say what is best right now, it is a strange market, and they just killing my sector (biotech) this year. I'm not sure that there is really a short-boogieman out there killing biotech, but there must certainly be a lack of buyers. Maybe a big pharma will make a move on one of our first tier biotechs, and the trend will finally bottom out. trend... I've made my share of mistakes fighting this trend down, and have hit a few land mines out there too. In retrospect... It would have been fun to get a trade out of gold this year, and I didn't do that. It would have been pretty nifty if I'd had the sense not to dabble in Global Crossing at $3 (note to self, you can still lose 100% <g>) ...correction, 18% stocks. fwiw, I was down to 10% for the past two weeks, and that worked out pretty good--sort of a good trade on the flip side. Tonight...surfing up charts of S&P yield versus treasuries--have I lost my mind? I own the companies I want to own, I don't want to go down the road that ends in municipal bonds and all that crap. A final thought for tonight--I was watching the movie Requiem for a Dream this evening. Ellen Burstyn is of course very good. The flick is pretty clever with lots of nify camera work, but basically it is just a story about junkies. Anyway, my thought for the night is 'Don't become a stock market junky' (which of course, many of us already are). Own the companies you want to own, and if they break your heart, so be it. Watching your companies shares flame out is pretty discouraging, but you pays your money and takes your chances. The only thing to remember, is when you get stopped out, not to go back for more. I tend to rewrite the rules...I put my toes back in the water from time to time, but mainly I feel that I am stopped out. I feel pretty good about moving most of those trading funds into my employee retirement account. 5% seems like a shitty return, but if it means that I'm less likely to be a Wall Street Junky someday, that is good. I sorta feel like I should have closed down the entire account, but lets see how hgsi, cra, mlnm, eln, and cege do these next six months. I can always sell them again and do the final, full-stop.