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Technology Stocks : DIGL... Digital Lightwave.... Making Waves.... -- Ignore unavailable to you. Want to Upgrade?

To: Craig Rogers who wrote (227)	12/29/1997 8:24:00 PM
From: ahhaha	Read Replies (1) \| Respond to of 934

Since you are being honest about this where almost no one else can be, I want to tell you more bad news. Like an alcoholic that can never take one drink again once they've quit, you'll have to do likewise. You're not ready yet to do that. The market owes you money and you know you have the skill to make it pay. I believe you have that skill. When you roll up another pile, you won't quit. You'll just blow it like previously. To break the addiction you have to quit when you're cleaned, not when you're ahead. The losses are of value. You can use them against future investment gains, Don't use them up to 3G's against ordinary income. The reduction in your effective rate will be far less than their value when you have gains in the future. So how should you be involved with this "game". No more game. The stock market is not a casino, it's a supermarket. You go there to buy things that you don't take back. You buy a little DIGL. Maybe you will buy more. Look for other things to buy with the little remaining dough you have. Don't try to diversify. Diversification is for idiots. You'll be diversified if you buy interesting things that are coming out of established bases. Buy a reasonable position. Don't watch it. That is equivalent to taking just a sip. Then regardless of what DIGL or the next position do, when you can save more money, look for something else. If DIGL or #2 start developing, you got the dough, the wife says ok, you can buy more of them. Never sell until you're up 900%. It'll take years. You can study companies. I have a great deal of fun studying companies looking for all the criteria that I have learned that give you a better chance for superior gains. Stay away from big companies. They're DOA. '98-'99 will be lousy for them. Unless we have some "event", they will be blah to slightly down. They've reached their optimal ecomonies of scale. I go to the 100 %change volume and %change price pages of ds.com and click the icon to see the chart. Then I add the interesting ones to Pointcast to monitor how they evolve. I rarely sell a position to buy the latest fad. I only use new money and I only move when I get a strong conviction. The purpose of this study is partially to find new opportunities, but it also is to vent the desire for action. You have developed this knowledge, why throw the knowledge out with the addiction? Employ it. Burn down the casino and re-employ the knowledge. If you do this you'll find you're much happier, you're glad you stayed with your hard-won experience, and your wealth will grow. It seems to grow the most when you pay the least attention to it. There are elaborations on these guidelines like selling plays that don't work out. I usually give 'em six months and then I sell mostly at a loss. You have some more capital then too. You should work out your own criteria, but don't start flipping pancakes, you're just rebuilding the casino.