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No. of Recommendations: 6
This is a repost of a message I wrote in January about the problems of selling in a panic. I'm not panicing now, but this is damned uncomfortable. IMO, for those that paniced and sold, the worst is yet to come. Try to hang in there! I have faith in MI and all 6 MI screens that I'm currently running.

For all of you that sold at the low point or lost some hard earned cash, I hope you realize what a valuable lesson you have learned. This will put some steel in you guts in preparation for the next time this happens. It will happen again. I learned my lesson in Oct. '97. The market was plummeting, the Russian economy was a shambles, the Japanese market had dumped 60%, the Brazilian market was down 40%, Europe was in the toilet, and I'm getting ready to retire. I couldn't see why the US market would stay aloof from the fray and so I sold a bunch. As it turned out I sold at the very bottom. WHACK, WHACK, WHACK. Well little did I know that upon realizing I had really done duky to myself, I would be paralyzed in my decision making. Is it going up? Well maybe it will go down tomorrow. Well I sold at about 7500 and couldn't really psyc myself up until it hit 9200. So I lost a bunch because I couldn't stand the heat, but much worse was the aftermath of how to get back in to the market. Was it bad? Between 50 and 80K, but I still really don't want to know. It was the most expensive lesson of my 63 years - hands down. If you learned your lesson for less, count your blessings for a tough lesson well learned at what I hope was miminum cost to you. This time I just said - OH look at that! It's instruction time again. MI is a great comfort after that trial. No more emotional decisions! Well, almost.

Dave

PS I did retire last April and all I can say is: I was born for this!!! Now where the hell is beleze
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