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G'day
Seems theres' some things we all have to learn the hardway. Regardless of wether lum goes up down or sideways from here, the mindset displayed by some is perfect for losing money in the markets. I was talking to a work colleague the other day following up on a discussion we had re erg about 6 months ago. At that point the market said erg was a buy (and I passed it on to him, when he told me he owned some), I discussed with him the basics of charting (listening to the market). erg subsequently went to around 160 from around 100, it was a screaming sell at 130, now 80. A little bit of charting + market sense, a lot less hold and hope would have seen a big profit. But no, he's in for the "long term", he's in love with the stock and now down around 20%. I understand this behaviour very well, because its quite normal, I've acted this way myself, if only I listened to the contrary opinions and acted logically instead of emotionally (don't mention mjn). Contrary comments are often given by those of us with battle scars to give balance to discussion, not the imaginary downramping/manipulation suggested.
So, look at other opinions objectively or watch your "love" kiss your cash goodbye, if not lum, it will be another.
On the other hand, the relentless optimism is probably due now as the markets appear about to tank :-)
Cheers and good luck all
I agree with alpha, teamwork is the go.
cheers
Rod
PS I'm just a mug and don't claim to know it all, 4 years in the market, 3 down years, 1 to get back to even. 4 years for no monitary gain, life wasn't meant to be easy..