Never Pays to Panic…

Posted by Howard
on August 6th, 2007

Once again, it would have paid to sit tight and not panic over the weekend.

Turn off your TV. Won’t make you money.

Now, if you are heavily on margin and needed a double dose of Ambien to sleep and read everything about the stock market that was available over the weekend, you should have been selling at the close today. You are too close to it.

I am happy for the bounce, but did nothing today. A few oil stocks are close to the stop zone and today brought no relief.

Should have bought that FCN breakout I wrote about last week other than that been in meetings all day.

Thanks to Gregor for that great YouTube find from my last post . What a day that was. Wow.

Having some quick drinks with the always thoughtful James Altucher right now and he is bringing some shortsellers from Chanos along. Should be fun hearing about the end of the world.

Dinner with ‘Gin Phil ‘ in Brooklyn will get me back in the right ‘Glass is Half Full’ mood by tomorrow.

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