To: Arnie Doolittle who wrote (5722 ) 4/18/1998 11:52:00 AM From: fma Respond to
Arnie - I couldn't let that one go unanswered. I didn't see my good-by post quite like that, but more as a courtesy to people I've learned to respect. I will miss the gentlemanly, scholarly, and humorous investors on this thread. I don't really feel regret re my decision to sell and I will root for it's doubling (for you and the other longs on this thread). At times during the past six months, I've had 100 k parked in NXTL (although considerably less lately). My largest holding, TAVA, I bought at 3 to 7-- for a 300 percent increase during the same period I've held NXTL. I will continue to hold it through a correction or until the fundamentals change. Arnie, your gentle enjoiner has merit. We all have questions concerning the type of investors we are. While I have exasperated myself with this question many times over the past ten years, ten years from now I expect I will still answer "it depends on the market's opportunities". You see the issue inherent within yourself but ten years ago, I would never have forseen that I could daytrade rntk executing paper below a specific mm's ask, buy margin and short a Y2k company like seek within a period of a week, and be in and out of a dozen or more stocks and options within the course of six months. Ten years ago, who but a few knew about BBs, webs, baskets, or for that matter, stocks like Lucent and Nokia. No Arnie, I am not leaving because I don't know what kind of investor I am. I am leaving because 1) We are very near a sharp market correction which NXTL with its huge debt, imo finds itself poorly positioned; 2) NXTL's IR is sketchy and especially with regard to financing over the past six months, very confusing; but mostly, 3) I am conservatively positioning for a correction and removing all my margins. I plead guilty to having more interest in Level II bids and S and P futures than TA, candlesticks, and speculations regarding NXTL's positioning in New York last week - but I deeply appreciate these things you've found rewarding in your own investment approach and that you and Ed were generous enough to share them. Good trading.
