I like to buy when I feel panic. Back in August, the little bristles on the back of my neck stood up and I bought SPY at 139, and then sold it a week later for 147. A quick 8 points.
The problem is, I have to feel the panic myself. It has to be in me. But with a load of cash, it's hard to summon out the feeling. But that's OK - I own GOOG.
GOOG is my canary, make that emu, in the coal mine. When GOOG sells down into the 5oo's with the rest of the market, I will, at some point, be seized with the horror that GOOG is just another word for JDSU, and that I should sell all my shares before they become worthless.
When I have that feeling, accompanied by intense self-loathing, I will buy SPY, wherever it is, and then wait for the feeling to go away.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment