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Strategies & Market Trends : Bill Wexler's Profits of DOOM -- Ignore unavailable to you. Want to Upgrade?

To: Hank who wrote (3209)	10/1/1998 4:30:00 PM
From: Bill Wexler	Respond to of 4634

<<It seems one CAN predict the short term movements of stock prices>> No. No one can. Trading on short term price movements is called gambling. If you don't believe me then simply tabulate the losses of the TokyoMex and Daytraders followers. <<I suppose you are one of those people who walk into car dealerships and pay whatever the sticker says>> Huh? <<I am 100% correct about the short term price movement of COST>> Yes, you got lucky. If the price would have gone up today you would have been 100% incorrect. What interests me is the long term prospects of Costco. A few years from now, the price fluctuations over the past few weeks will look like so much statistical noise. <<Face it Bill, you are pissed because you are now down almost 15% on your COST purchase>> You must not have been paying attention to anything I've written about Costco or stockpicking in general. I've entered short positions "too early" and had to wait out vicious squeezes...sometimes I've enterd them perfectly and had an easy ride down. The inverse is true for my longs. I bought my first share of Intel at about $2.00 (I'm adjusting for splits). If I would've waited a few months, I could've bought 30% lower. Instead of panicking out or getting "pissed" I simply stuck to my guns and averaged down. COST is a bargain at 55...and it's even a better bargain at 45. In the long run it won't make much difference. <<Think of all the extra shares you could have bought had you listened to me and waited.>> Considering that I'm going to continue buying COST over the next few months and years, I don't understand what you're gloating about. If the stock doubles from these levels, and the story improves even beyond my expectations then I'll accelerate my buying; not only was I a buyer of that Intel stock at 2, I was a buyer at 5...at 10...at 20....at 30.... see my point?