To: kennbill who wrote (19798 ) 7/31/1998 11:25:00 PM From: Charliss Respond to of 50264
I thought I would browse today's posts. Wow! 199 new ones since I last looked. This has been a good week or so for me marketwise. So much happening. However, I am glad the weekend is here, for I have been getting out of several stocks, after run-ups, just by the seat of my skirt it seems. CLST ran from 14 to 18, on rumors that haven't materialized yet, then settled back to 14. CD ran from 14 to 18 on the news that CEO Forbes resigned, and now is declining. TSQD ran from under 5 to near 8 on IPO anticipations for DRIV, came back down to near 5. GTW worked well from 53 to 58, and closed at 54. And more.... I am still holding my DGIV, tucked away, along with some more active medium and long terms. Now I welcome my bunny slippers this evening, some gardening tomorrow, dancing tomorrow night, maybe sailing on Sunday. Then, Monday, and back to work....I wonder if dgivinvestor could give me some tips on trading and investing before I re-enter the jungle? Best to everyone, Charliss PS...Thinking of RocketMan and sailing reminded me of something from Dr Alexander Elder's book, Trading For A Living: "We come to the market from different walks of life and bring with us the mental baggage of our upbringing and prior experiences. Most of us find that when we act in the market the way we do in our everyday life, we lose money... Your success or failure in the market depends on your ability to use your intellect rather than act out your emotions... The market is like an ocean- it moves up and down regardless of what you want. You may feel joy when you buy a stock and it explodes in a rally. You may feel drenched with fear when you go short but the market rises and your equity melts with every uptick. These feelings have nothing to do with the market- they exist only inside you... The ocean does not care about your welfare, but it has no wish to hurt you either.You may feel joy on a sunny day, when a gentle wind pushes your sailboat where you want it to go, or panic on a stormy day when the ocean pushes your boat toward the rocks.Your feelings about the ocean exist only in your mind. They threaten your survival when you let your feelings rather than intellect control your behavior. A sailor cannot control the ocean, but he can control himself....."