<p>Love the Smackdown Whitney just gave Andrew Ross Sorkin,followed by a lashing by Joe Kernen, almost spit my coffee. ;)</p>
<p>Nothing wrong with buying at 52-week highs or multi-year highs. Tons and tons and tons of examples of this working out. That’s generally what you do on many ascending triangle breakouts.</p>
<p>Moved some money from Apple to Google.</p>
<p>Bought a Google Nexus phone this morning. I was looking for a nice smartphone for my daughter or me if she takes my iPod Touch and they’re all in the $650-$700 range. I was going to buy a Google Nexus tablet when I found that Google sells a high-end phone for $350. Google isn’t doing any marketing on this phone - seems to be a well-kept secret. I think that it’s going to cause problems for other handset makers. Google and Amazon have different profit models so they can sell hardware at cost.</p>
<p>The tech battles are fun to watch.</p>
<p>"WHAT?!! You were being sarcastic??? But we all piled into CRUS! "</p>
<p>CRUS interestingly enough is a good example in regards to 52 week highs. In the last 3 years, buying the 52 week high lead to a positive return in at most a little more than a year. If you bought the 52 week high in June, you would already be up ~20%.</p>
<p>Interesting article:[The</a> New Stock Market: Obscenely Volatile, Perfectly Inefficient And It Only Gets Worse - Seeking Alpha](<a href=“The New Stock Market: Obscenely Volatile, Perfectly Inefficient And It Only Gets Worse | Seeking Alpha”>The New Stock Market: Obscenely Volatile, Perfectly Inefficient And It Only Gets Worse | Seeking Alpha)</p>
<p>I don’t get it…the story behind the link in post 2985.</p>
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<p>It may be a little easier to do if it isn’t your own money.</p>
<p>I think that is a very good point.</p>
<p>^^Interesting response - I would think the opposite. When it isn’t your money, you are not emotionally attached and would make more rational decisions or that’s what financial planners want you to believe. People who are emotionally attached to their money tend to hold onto their losers longer thinking they will come back (at least based on behavioral finance studies) and is why people tend to sell their winners too soon and their losers too late.</p>
<p>The pros hang on to their losers too.</p>
<p>Not all pros…but then not all investors either.</p>
<p>I find it interesting that people confuse making money with intelligence.</p>
<p>So you end up with situations where people that do well with their investments think they are smarter than others. </p>
<p>I have heard many times, “If that guy is so smart, how come he doesn’t have any money?”</p>
<p>This also leads to the situation where somebody is doing very well, then he starts losing. Somebody who thinks he is smart because he makes money, when he starts losing, you can just watch that psyche deteriorate…</p>
<p>For some people their intelligence goes up and down like a yoyo.</p>
<p>Right now I’m struggling to hold onto my winners such as aapl with the recent price action. In situations like this, I tend to sell 1/2 my position which I may do today. I don’t like to sell everything at once unless I’m 100% convinced of what is going to happen which is never.</p>
<p>Making money in the market has little to do with intelligence but more with emotional control.</p>
<p>"I don’t get it…the story behind the link in post 2985. "</p>
<p>The point is the statement: “In the Short-Term, Stocks are a Voting Machine and in the Long-Term, Stocks are a Weighing Machine” from Benjamin Graham today is wrong.</p>
<p>Doct…you have been thinking a lot about the markets, haven’t you?</p>
<p>So, do you think what Benjamin Graham said is no longer true?</p>
<p>A basic rule of trading is letting your winners run and taking your losses quickly.
I know many super bright people that can’t do that. Some of them can’t admit they make mistakes. </p>
<p>One of the bigggest problems of trading is that the losses hurt more psychologically than the winners help psychologically. I think there have been quite a few studies on this.</p>
<p>Winning doesn’t feel as good as losing feels bad. (Hopefully this makes sense. I probably should rewrite this). :)</p>
<p>One of the biggest problems I have as a trader now is I hate the losing. I don’t want to lose anymore. I have lost hundreds of thousands of times. It gets old. :)</p>
<p>And you can’t win, if you can’t lose.</p>
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<p>That’s one of the biggest first steps in trading.</p>
<p>Sometimes it helps if you have a friend to remind you to take losses.</p>
<p>The question I have for you aapl folks is it going to make through 625 any time soon?</p>
<p>I’m kind of busy today doing race admin stuff but I’ll try to do a chart tonight.</p>
<p>Fannie Mae earned 5.1 billion dollars but its stock price is 31 cents. Screaming buy?</p>
<p>I remember buying Fannie Mae in the 80s because I figured the stock could never fall apart because of the federal government’s backing. I sold out after it was obvious one of the CEOs was fudging numbers to increase his bonus.</p>
<p>"The question I have for you aapl folks is it going to make through 625 any time soon? "
yes -when the mini Ipad is actually announced. that will be a huge seller for Xmas giving.</p>