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Technology Stocks : Winstar Comm. (WCII) -- Ignore unavailable to you. Want to Upgrade?

To: silicon warrior who wrote (8143)	9/3/1998 8:58:00 PM
From: zebraspot	Read Replies (2) \| Respond to of 12468

My best to everyone who is suffering through this. That said, what's wrong with us? Who did this to us? I've got an opinion. WE underreacted when we didn't sell into a market that was clearly a huge bubble. We are overreacting now to the return to reality. The only thing that is really blown away here is a lot of false confidence and mental laziness. We had an historically high market - We enjoyed years and years of dip buying and instant gratification. It WAS irrational. It was probably a once-in-a-lifetime opportunity to sell really high (or better yet, to go short) so we could come back in just a couple of weeks to buy back really low (maybe instant gratification isn't gone after all!). We knew it - it was living right there in all of our guts. We knew things were out of balance. Too easy. Too many geniuses. Go ahead and believe someone else did it to you. I think that's the wrong lesson. We pretended to believe in a New Era, when we knew there is no such thing. We demonstrated a lack of discipline in following our better instincts. This bear isn't over yet, IMO; but it's a time to buy/hold the emerging growth stocks that we really believe in. Sure, we'd all like to get paid before payday; but, hey, we had that chance, and now that's gone. It's clear that that expectation usually doesn't work out for most of us. The real payday is a couple of years off - when the plan is rolled out and is working. And AFTER we've done our jobs of being right, being patient and determined, and being disciplined. (sorry about the obnoxious sounding "We" -- it sounded better than "you" or "I")