So I'm on a roll today. On Part 3 of something I never thought I'd write. I'm an extremist, I do everything in excess, so I might just disappear on you one day and stop writing so if you actually like my nonsense, enjoy it before I wake up and wonder why I ever did this.
Now I feel old and so will you if you actually understand what I'm writing about here. This is from March 13, 1999:
"Internet stocks are booming..or so went my observation. Internet stocks peak really high then fall back down but they are then basically stabilizing at higher levels ...YAHOO investment challenge days...I shall bring everything into the open in this formal analysis of me, myself, my life, my trading career, my failures, my successes, and most of all where do I want to go?? How do I want to get there??? Why do I want to get there or do that??? Are my priorities correct or should I revaluate them....March 16 more challenge (yahoo investment challenge) entries...apparently the NASDAQ market makers make the shares fall so they can buy more and then they raise the price again....March 19..WNKIM (some yahoo guys name in the challenge)...if you remember days...March 20..be confident and relaxed it is the human psychology of supply and demand that sets market prices...March 29...some entries..."
I'm very smart- as I was typing out the quote from my journal I realized that one block was a summary of many longer things I had written. I've written so much useless stuff that for me to summarize it, it must have been really damn bad. But there was a good point here- talking about how market makers on the NASDAQ had the ability to manipulate stock prices, market makers used to make millions in those days, do they even exist anymore??
I sound like a real pompous fool, talking about analyzing myself, my trading career. I was 18, I had nothing much to analyze about a career or success or any of that nonsense I wrote. I was a senior in high school when I wrote this stuff. No wonder I sound funny when trying to get deep and failing miserably to make any relevant philosophical point.
Ok some of this gets a bit better:
April 8, 1999:
"Selling stocks too early to make a substantial profit."
Goes back to the old saying, let your winners run.
April 8, 1999,
"Sitting in my big dark bedroom looking at the computer beside the bed with roof light on promising myself I will make these trading entries everyday. I will spot my mistakes...I remember the blue pen. The blue pen...I remember that I was hiding from something....I remember thinking that I was going to be rich.. Very soon...But I did not realize that I did not have any skills to rely on..I was a dependent..A parasite...With a good idea but no creation on my part...There are still more analysis of individual challenge players from March and April and Maybe May but I'm not going to venture much more there...I was taking out only half a point when there were ten points to be taken...remember...you have nothing to do with how much a stock goes up or down"
Damn that entry was expensive- I ended up writing for years after making that promise to myself. I really felt like crap for making money copying other people's work in that Yahoo challenge, but it was a really smart idea. Again let your profits run, and a lesson- separate all stock action from your emotion.
Kindly direct all hate mail to email@example.com