Post of the Day
October 8, 1999
Posts selected for this feature rarely stand alone. They are usually a part of an ongoing thread, and are out of context when presented here. The material should be read in that light.
And now for something comPLETEly different!
Riddle me this, Batman:
CMGI, purchased in April @ 110/sh. Rode it down, now back up, currently in the black after 4 months. Not really too different than a lot of the nuts in my portfolio.
So, IF I was a daytrader, and IF I knew that the market was gonna go down from May thru September (it seems, from all the posts I've read here, that this is a fairly common occurence, and somewhat expected??), I obviously would have been better off waiting, buying in August, and riding the wave up to high profits currently, rather than around the break even point.
OTOH, if I was DAY trading, I could move in and out, predicated on really, really knowing a few stocks, and catching the "middle of the move" so to speak. IE: Not being a pig, but getting a profit out every day.
|"I would like nothing better than to sit home, day trade, make a bunch of money in a few short hours..., and go play golf the rest of the day!"|
Sure, this sems easy enough to do. And there are likely many of YOU out there that are doing exactly that! And I envy you, yes I do. I would like nothing better than to sit home, day trade, make a bunch of money in a few short hours/minutes (??), and go play golf the rest of the day! In fact, I have a friend who does exactly that, and boy is HIS golf game getting good!
But... alas, I cannot do this. I have too many obligations to meet, and so I must go long on these stocks, knowing full well that they WILL make a profit next year, 5 years, 10 years down the road. Yup, I could make a lot of money daily, but I just don't have the time, nor do I trust myself to be able to consistently pull a profit out. Look at the craziness over the past few months!
As they say, "different strokes for different folks". Some of us wish we could be day traders, and some want no part of it. Some go long, some short term. Some buy, some short. Big big BIG thing here is, we should ALL want to see everyone do well. Heck, its only money! We're not talking life and death. Let me tell you, that gives you a whole new perspective on money.
I had a friend. He was very successful in his professional capacity. He was extremely happy as a family man, and spent every spare minute with his family. His investments did well. His son got Hodgkins disease at age 3.
Life was miserable for 5 years. The boy survived, and seems to be doing well. But last year my friend got sick and was diagnosed with brain cancer. He fought for a year. I saw him last month and he looked like he was going to win. He didn't. He died 2 days ago after slipping into a coma.
~Money can't buy health. He had plenty of the former.
~Money can't buy happiness. There are a lot of rich lonely miserable SOB's out there.
|"You all helped me when the market was down, my port was down, and I was down. I thank you all for your support."|
So keep it in perspective folks. You all helped me when the market was down, my port was down, and I was down. I thank you all for your support. I don't know if I could have held on without the knowledge of this board (The best..hands down.. on TMF, IMHO). I probably would have followed my OLD methodology, Buy high, sell low, let everyone else make money!
Instead I learned a few lessons. Don't watch the stock market every day. Don't check my stocks 5 times a day. Set stop limits if I don't want to hang around for the drop. Relax. Enjoy life, its too damn short. Long time dead.
Sorry about the maudlin aspect of this post. But sometimes it helps to vent into cyberspace. Thanks again, one and all.
"Ob la di, ob la dah, life goes on....."