Go to Jeff Salisbury LWGate Home Page.From: Dave Stem <canslimdave2003@yahoo.com>
Subject: Re: [CANSLIM] Selling - Emotional Attachments.
Date: Tue, 22 Jul 2003 17:02:52 -0700 (PDT)
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- --0-1341217135-1058918572=:76763 Content-Type: text/plain; charset=us-ascii Chuck, I think the psychology of selling is very overlooked. I recently had the same thing happen with TIVO. I own one of their units also. But after reading the sell rules in WON's book, I sold half my position to lock in profits and then the second half was sold with a very tight stop loss. I am much less attached to the stock now that I've sold it! I'm trying to think of buying and selling like drinking from a stream now. I realize that when I bought, I wanted to drink all of the water in the stream and didn't want to pull away until i knew that no water could ever come down that stream again. Now, I just want to have a nice satisfying drink and the collect my wits and look for opportunities elsewhere. (Did that make sense?) Heck, I can even get into TIVO again if it forms another nice base. Meanwhile, my money is safe at home. Dave Chuck Dreier <chucknsc@mindspring.com> wrote: Well, even though I've made money on the two stocks I'm about to mention, I've just made a discovery about myself. I've found that I get emotionally attached to some of the stocks that I buy, and that has delayed when I sell. I'll hold too long because I "like" the company or the product they sell. I've seen it happen with Garmin - I own 3 of their GPS units and just like the company. I held KVHI for basically the same reason. From now on it's gonna be the ruthless following of sell rules - I'm not dating or marrying the stock! Don't know if anyone else has had the same realization, but I thought I'd like to share it with the group. Chuck Dreier - --------------------------------- Do you Yahoo!? Yahoo! SiteBuilder - Free, easy-to-use web site design software - --0-1341217135-1058918572=:76763 Content-Type: text/html; charset=us-ascii <DIV>Chuck,</DIV> <DIV> </DIV> <DIV>I think the psychology of selling is very overlooked. I recently had the same thing happen with TIVO. I own one of their units also. But after reading the sell rules in WON's book, I sold half my position to lock in profits and then the second half was sold with a very tight stop loss. I am much less attached to the stock now that I've sold it!</DIV> <DIV> </DIV> <DIV>I'm trying to think of buying and selling like drinking from a stream now. I realize that when I bought, I wanted to drink all of the water in the stream and didn't want to pull away until i knew that no water could ever come down that stream again. Now, I just want to have a nice satisfying drink and the collect my wits and look for opportunities elsewhere. (Did that make sense?)</DIV> <DIV> </DIV> <DIV>Heck, I can even get into TIVO again if it forms another nice base. Meanwhile, my money is safe at home.</DIV> <DIV> </DIV> <DIV>Dave</DIV> <DIV><BR><BR><B><I>Chuck Dreier <chucknsc@mindspring.com></I></B> wrote:</DIV> <DIV> <BLOCKQUOTE style="PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #1010ff 2px solid; WIDTH: 100%"> <META content="MSHTML 6.00.2800.1170" name=GENERATOR> <STYLE></STYLE> <DIV><FONT face=Arial size=2>Well, even though I've made money on the two stocks I'm about to mention, I've just made a discovery about myself. </FONT></DIV> <DIV><FONT face=Arial size=2></FONT> </DIV> <DIV><FONT face=Arial size=2>I've found that I get emotionally attached to some of the stocks that I buy, and that has delayed when I sell. I'll hold too long because I "like" the company or the product they sell. I've seen it happen with Garmin - I own 3 of their GPS units and just like the company. I held KVHI for basically the same reason.</FONT></DIV> <DIV><FONT face=Arial size=2></FONT> </DIV> <DIV><FONT face=Arial size=2>From now on it's gonna be the ruthless following of sell rules - I'm not dating or marrying the stock! </FONT></DIV> <DIV><FONT face=Arial size=2></FONT> </DIV> <DIV><FONT face=Arial size=2>Don't know if anyone else has had the same realization, but I thought I'd like to share it with the group.</FONT></DIV> <DIV><FONT face=Arial size=2></FONT> </DIV> <DIV><FONT face=Arial size=2>Chuck Dreier </FONT></DIV></BLOCKQUOTE></DIV><p><hr SIZE=1> Do you Yahoo!?<br> <a href="http://us.rd.yahoo.com/evt=10469/*http://sitebuilder.yahoo.com">Yahoo! SiteBuilder</a> - Free, easy-to-use web site design software - --0-1341217135-1058918572=:76763-- - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email.
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Top of Thread: [CANSLIM] Selling - Emotional Attachments. "Chuck Dreier"
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