I don't think anyone would argue that there are a few tech stocks that have done extraordinarily well, among them the one's you listed.
Unfortunately, for every AAPL, there are 10-15 stocks that went parabolic in 1999-2000, and now either do not exist, or are way below their highs. I remember there was a stock, PMCS I think, that was sold off Friday PM and gapped up every Monday AM. I would buy it every Friday at 3:55 and sell every Monday at 9:40. My week was done. That should have been the bell for the top, since it is NEVER that easy.
The job of the market is and always has been to take the most amount of money from the most amount of people in the least amount of time. Greed usually bites you, losing pride hurts, admitting defeat hurts. At one point I was determined to buy SunMicro every $10.00 on the way down. Thank Gawd someone got my head straight.
I was a clown, and probably will be again. I own AAPL and PCLN, and go to bed worried every night that something could go wrong. On a Momentum stock with no dividend, they run for the exits just as fast as they run for the entrance.
The market ain't easy, and balancing your directional beliefs with your own ego and the technicals you see as well as just watching what "THE MARKET" wants to do is a fluid educational process.
As I get older, I am putting a lot of good dividend payers in my IRA, {Thank you DABUM} wondering what the heck my own kids would do with the money if I passed. They would have no clue, and give it to an "Inglorious Bastard" aka broker, who would probably rob them blind. Buy and hold does not seem to have worked so well the past 10 years or so.
I was in cash all through 2008; lucky more than smart. I had several deaths in my family and just went to cash since I felt trouble might be coming and had no time to watch daily moves, never imagining it would be so bad.
For MANY, yes, crashing DID get them down....WAY DOWN. |
