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Pastimes : Home on the range where the buffalo roam -- Ignore unavailable to you. Want to Upgrade?

To: Sig who wrote (11071)	8/6/2003 5:28:36 PM
From: im a survivor	Respond to of 13815

<<they dump the big gainers which I am often holding>> Thats what I did. But I only sold partial positions. Lets face it, when the year started, we all probably would have said we would be happy with a 20 - 30% yearly gain, after the last 3 years of hell. Kinda hard to not take 100 - 500% profits when they are there, in this type market. If I sold EVERYTHING right now, I would exceed my yearly expectations by quite a bit, so I see no need in risking that by not booking some nice gainers. And like I also said earlier, in this market, I think it is crucial to have cash. So, I am vested PLENTY should the market rise, but I locked in some very nice profits and raised my cash level so I am now back to the point where I am happy if we go up, and content if we go down. Warren Buffet said it best when he said unless you are fixing to retire in the immediatte future, you should WANT falling stock prices over at least a 5 - 10 year period if you want to build a nice portfolio at low cost. We should NOT want rising prices, as we are still 10+ years from retirement and you are better off buying low, then buying high. In any event, I do agree with his philosophy that in ANY market, cash is king and allows for greater flexibility to make profits. So, I just felt, not knowing if we go up or down, it was prudent to book some of those big gainers, while still staying very vested, but raising cash position. The one thing that concerned me was if we did get whacked, A) I didnt want to give up all of these very nice gains and B) if I didnt have cash, a whacking would be a double whacking. I would not have booked profits and instead would have watched profits disappear and I would have no cash to take advantage of lower equities prices. So, in my position, I felt it was best to book some nice gainers and almost ensuring a good overall year, and still have plenty of stock and plenty of cash. Good luck to all......now my only beef is I will get pissed if we go up or down <ggg>....Up and I will be cussing the fact I sold a bunch of stuff and down and I will be wondering when to put cash to work, and where to put it to work. I seem to have this thing where I hate cash sitting. I like to put it to work one way or another. But, I will practice patience, and who knows, maybe I will simply play the charts with my remaining cash. Buy on a nice dippy day and sell the first rally and be happy with any profit. 5 - 10%, if done regularly, can really add up.