Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : PERFUMANIA.COM . . PRFM . . .FOR LONGS ONLY -- Ignore unavailable to you. Want to Upgrade?

To: GalSal who wrote (1385)	2/1/1999 12:08:00 AM
From: YosemiteSam	Read Replies (1) \| Respond to of 2489

GalSal..., on suspicion, confessions of a one-time short, life, and talking too much... Anyone else who reads this, I'm sorry for posting so much, but Sal asks good questions, from my point of view... questions I have had, and which I, being a guy who hates asking for directions, or anything else, have taken 100 times longer to figure out than it would have been had I simply asked. Suspicion is here because most of us are serious about trying to make money, and we sometimes find that people say things here for reasons which are not conducive to our desired goal. Whether they are right or not, may be different, but we make our decisions, and suspicion of others who post contrary ideas seems to come natural. I think that CJ jumped on you a bit much, since you seem to me to be looking only for info that can not be a threat to what I am doing. We are all different in some respects, and respond differently to the same situation, even though all you see here are words. The actions which lie behind our words are real, but the only proof you have of what we say, is what we say. If you'd like to chat sometime, I think I'd enjoy sharing stories with you. I'll bet I've screwed up more than you have. One of my whoppers was figuring last November that no one would be stupid enough to pay more than $150 per share for Yahoo. So I shorted it. I actually made a few day trades between $150 and $175 which were profitable, but I had to go away for a week, and on a Friday, I watched as it went above $180, I think it was. I was short at $174 or so, and figured it couldn't get too bad. I recall that the next Monday, it closed in the low $190's (my memory may be a bit off...) Tuesday, I returned to my hotel room in the evening to find that it had rocketed to the $220 range. Wednesday, Waterhouse had to make a margin call on my account, and Yahoo had gone above $230. I think the whole debacle cost me about $18,000. You want to know about humble? In college, I was known as "shy, innocent, and humble". I didn't know a damn thing about humble in college, compared to the humble and suicidal I felt after Yahoo... There's more woe to be told, but it's all on the long side. Like you, I've made lots of good trades, but I usually get out too soon, afraid of staying too long and losing a profit. We'll get smarter! Ummm, that was the life part, too. Talking too much comes from the Denver victory, and from thinking that a little of what I'm saying might be of some use to you. Nice that you talk with me a bit, and I hope we do good tomorrow. Good hunting!