The Motley Fool Discussion Boards

Previous Page

Investing/Strategies / Communion of Bears


Subject:  Chasing my tail Date:  5/14/2009  2:45 PM
Author:  bearwhizbeer Number:  54098 of 54111

So pre-market on Monday, I figured that I would take advantage of the foolishness of crowds and I picked up a bunch of UYG. Surely, I told myself convincingly, with all the bad news regarding the banks, people would be rushing in to buy for a little while, and I could make a fast buck or six.

Alas, not only is my name NOT "surely", but for the first time in recorded history, the crowds were actually paying attention, and sold off the banks. My sure fire investment was underwater almost from the get-go. So I put a stop in at 3, and figured to recoup my losses with a fast buck on FAZ. Lo and behold, the crowds today are back at the punch-bowl, and I'm underwater on both sides of the play.

Thank heavens I don't do this kind of stuff with more than 5% of my play money.
Copyright 1996-2018 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us