To: gc who wrote (87914 ) 1/6/1999 7:22:00 AM From: Sig Read Replies (2) | Respond to of 176387
Re Mistakes <<< Don't sell!(Amzn) These stocks are not driven by fundamentals. They are driven by supply and demand. As long as people believe in internet's future, they want to own them. Don't sell, man, you are making a big mistake. >>> I agree except for the size of the mistake... Yes, I sold the 120 Amzn which so far has cost me $2k in potential profit. Tried to replace it with 2 calls to cover further upside but: 1. My computer would not download the CBOE option chain which is over 1.4 m. 2. The broker could not get the chain either until she tried three times , nor could she identify the newly split calls, and none had traded so did not know what to offer 3. Called another broker but he was not in the office. 6. I did finally about noon( too late) manage to buy one call for $6 All in all it was a frustrating day, but was still up by $17k at the end. I have (very small) positions in Amzn, aol,athm,csco,geek,geoc,inkt,intc,lu, msftt,onsl,plcm,qwst,rmbs,tlab,yhoo. And one monster position in Dell. Cannot avoid small mistakes, will make many more !!! Selling DELL is the one BIG mistake I am going to avoid. In many cases I can't tell if a trade is a mistake until weeks or months go by or until the fat lady finally sings.(another Dell or aol or yhoo split) Notice that I have no Ebay, ubid, mall, delia,ibm, etc. So each day there is something good that one could have, should have owned if only ................(or but for). Yes I may need sympathy or consolation for selling the Amzn, but the Tlab call went up about $12 and the newly bought shares of Yhoo went up about $9. More importantly, there is still fuel in the gas tank on Dell And Don Martini knows the mistake I made here, which was to sell the Amzn stock before buying the calls !! Sig