Replies to post #1502 on Ask Vendit Off Topic Questions

[greatday8]

Freeus, also been a millionaire and lost it all.

I accumulated a large position in a stock below 50 cents. It moved up to about $1.50 area. Then a couple days later shot up to just shy of $8 and then everything went wrong. Trading halted and after a couple weeks it was aloud to trades but at pennies.

I had a net worth of about 1.4 million for about 15 minutes.
It is all gone.

I feel very stupid that I did not watch close and sell a few shares.
Need a winner to retire and time is running short. I feel fine about it now because I am looking ahead and hopefully I have a winner.

greatday8

[biomanbaba]

How to get back on top------------------forget trading and get ready to ride the next wave--------take 100m and sock it
in to GNTA and FORGET ABOUT IT TILL 6/02----------------do some DD on this one and get back with me----------
I intend to retire with what I make off this one----------Im going to take 90% of my profits in 02 and put it into T_bills
and day trade the other 10% for entertainment-------when Im not playing golf or fishing-----------good luck----------this one
ISNT SUBJECT to MACRO-ECONOMIC manipulation by policy wonks playing fiscal or monetary games------The cure
for cancer will sell for WHAT the TRAFFIC will bear-----------With market exclusivity for many years-------go read about it

[Walkingshadow]

Freeus,

LOL !!

<< apparently to become "a better me" I needed a tough lesson, since I refused to learn with milder
means. >>

Yer a better man than I, Gunga Din. Frequently, even tough lessons have little effect on me at all. I often don't even realize its a lesson. I figger the universe is just getting its revenge <gggg>

Actually, I lost a lot last Spring also [that's when I resolved to never, never blow off Vendit, who called the March top unequivocally while my eyes were still glazed with greed !!]. To tell the truth, once you get over the shell-shock and after-effects of Agent Alan and Wall Street War Syndrome, and realize nobody got the license plate of the truck............. well, it certainly puts you in your place, and you don't approach the market with a cavalier, ****y attitude again. Ever. Doug and I have talked/commisserated about this alot, and we both pretty much feel that these kinds of things are exceedingly valuable, believe it or not. So, to have lived through the worst decline in $COMPX history----and survived----that is an experience that I truly believe will be immensely helpful going forward.

I used to do a lot of solo mountaineering, and the experience was very similar. Every once in a while, generally in a situation in which your life hangs by a thread, you see very, very clearly that you are not in charge, and are merely a visitor in a land which can turn immensely inhospitable with astonishing rapidity. You control nothing, and if you don't understand that, or you forget, your survival becomes very much in doubt.

JMVHO....

WS