From: gts (gts_2000@yahoo.com)
Date: Sun Jun 15 2003 - 22:29:51 MDT
Olga Bourlin wrote:
> So, you advice to me would have been not to use a stop to get
> out of CREE Friday, so that rather than losing @$50 on my 300
> shares, I should have held on to CREE and lost $1,233 by the
> end of the day (and who knows what Monday may bring)?
Yeah, assuming your numbers are right then you would be hating me right now
for my advice.
However on average the many hundreds of clients I served over the years
would have loved me for providing similar advice. In general it is foolish
to sell automatically just because of a drop in price. More often than not,
it is a good opportunity to buy.
For example I was there riding the saddle on "Black Monday", October 19,
1987, when the market dropped something like 12% in one day. People who got
stopped out on that day now look like idiots. And the truth is that they
really were idiots. Anyone who deviates from the buy and hold strategy is
living in a pipe dream.
-gts
This archive was generated by hypermail 2.1.5 : Sun Jun 15 2003 - 22:38:26 MDT