AVX Corporation (AVX)

[tootalljones]

who wrote...I..I sold thousands of shares in the mid to high $20s.
Not as many as I did. I had far more than a million dollars worth of AVXL, and well over 2 million dollars worth when it opened at 30 bucks that more. And I was selling in the first half an hour for all I was worth, dumping. And I never use a limit price in these wacky circumstances because the market maker will take market orders first, at that limit price. The problem, as we both recall, was that if you tried to sell 7 or 8 thousand shares at once, market order, it would really hammer the price down like half a bucks or so, so you become the person who is hammering what is left in your own holdings....So you just gotta hold your nose and throw them on the market, 3 or 4 thousand shares at a time...and the stock as I recall closed that day around 26 bucks or so, something like that, and I could not dump my entire holdings, so the next morning I quickly drumped the balance.
And one of the points of this story is that the good investors here are not people now who are longs; they are terrible investors, dreamers. The good investors are the ones who can see something that is ridiculous in the market, like avxl being at 30 bucks a share, and make moves. You cannot be afraid in the market. Every time I get afraid, I do something stupid. Not once in a while, every time..l.....The bad avxl investors are those who post 4 or 6 or 10X per day. They should be in basic etfs and bonds, not this nutty sector, and most are only here because they got lucky once before and think they are now Warrent Buffett and Charlie..