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Humble Pie for Me ! :(

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March 17, 2008 – Comments (4) | RELATED TICKERS: BSC

It is tempting to take risks in CAPS that one would not take in real life. 

My CAPS pick of BSC last Friday is a prime example.

Pride (and Greed) goeth before a fall!

Some dead cats don't bounce.

Rats deserting a ship is not a good sign!

Lately I have been in the top 100 on CAPS, but I have lost that in one stupid pick.

All I can hope for now is that I have learned from the experience.

Falling knives are hard to catch.

4 Comments – Post Your Own

#1) On March 17, 2008 at 12:31 PM, mandrake66 (96.39) wrote:

They are hard to catch, I learned that back in 2000. To some degree I'm learning it again. But anyone going long on any financial company right now, let alone one widely known to be troubled for a while now, specifically one that was the most exposed to the very problem at the root of the current crisis, well...that's not a falling knife, it's a falling meteor. Best to just step out of the way.

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#2) On March 17, 2008 at 12:35 PM, mandrake66 (96.39) wrote:

By the way, this is the first time I've glanced over your picks. I haven't gone over them with a fine-tooth comb yet, but my first impression is that you seem to have earned your score the hard way (ie, not by shorting every financial security and going long every energy and commodities security). I'm going to study your picks to get an idea of what you're doing right (BSC notwithstanding ;) ).

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#3) On March 17, 2008 at 1:53 PM, Formula1fan (30.66) wrote:

I managed to capitalize both on BSC and TMA but it was pure luck.

Is this a good time to go "outperform" on BSC at this time?

I don't believe it can go lower than this.

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#4) On April 09, 2008 at 6:54 PM, abitare (56.29) wrote:

The whole BSC implosion was very bizarre, as was the reaction by the FED and the market.

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