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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: nspolar who wrote (24023)	12/21/2002 2:32:58 AM
From: isopatch	Read Replies (2) \| Respond to of 36161

ns. That horse is alive and kicking<g> Attended a talk by William O'Neill, St Louis, back in the late 80s. He made the point that some of the biggest runs he ever got in individual stocks were the ones he started to buy AFTER they'd already doubled! And proceeded to show one example chart after another from a variety of different market sectors. An even earlier example I came across about buying strength and one that really stuck with me is from J.Paul Getty's book, How To Be Rich. He told the story of how he'd sold an oil field for a large profit. Then realized he'd made a mistake. A year or two later he bought it back for a considerably higher price. And dang if he didn't make vastly more in total profits over succeeding years than he did the first time he owned it! It's amazing how many people can't bring themselves to do that in the stock market. If they can't buy it back cheaper they refuse to buy it back at all. Some incredible runs are missed that way. Well, I'm fading fast. Best Regards, Isopatch