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Originally Posted by ticket
I got into the market about the same time you did, and pretty much have only invested in Apple and RIMM so far. I certainly understand your comments about the anxiety, but then I try to just remember you haven't made or lost any money until you sell. I have a large number of stocks that I track while I get self-educated about how the market reacts (and overreacts) to every little tid bit of information released. With the market tanking like it has so far in 2008, there may be some very good opportunities right now to jump in and make some profits, but like someone alluded to earlier....its just gambling.
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I'm assuming you've passed on exiting RIMM above $135
<img src="http://chart.finance.yahoo.com/c/3m/r/rimm">
....and AAPL , above $200
<img src="http://chart.finance.yahoo.com/c/3m/a/aapl">
Why....why not take profits when they are on the table, and why the continued optimism....RIMM has fallend from $137 to $93, in less than 3 months....(If you have taken profits, you don't need to read any further...)
I had a friend who worked in an office in NYC. In 1999, he and several co-workers began to buy AOL, their paper profits doubled, tripled, quadrupled, they were all going to retire "young", together. They watched AOL peak, and they held, and held....they knew it would come back, and they held, all the way to the bottom. There are so many stories like that, about the dot com bubble. It's nearly 8 years after the Nasdaq 2000 peak, at 5148, intraday, in March, 2000. It's below 2500, again, yesterday. The Nikkei 225 index peaked above 39,000, in late 1989....it's 19 years later, it's at 14,000.
Do you allow for the fact that your window of experience is very narrow, and that it has a large influence on your optimism? Now, there is nothing fundamentally influencing stocks to even maintain their current levels. When Rimm was at $137, fundamentals didn't matter, and they hadn't in a few years. It looks like they are starting to matter.