Bill Morgan
Social
Relationship Status
Married
Highschool
Nye County HS, Tonopah Nevada
College
Univ of Arizona (1980), LSU
Interests
Fishing, Hashing, Tasting Single Malt Scotches
Favorite Music
All kinds, particularly fond of latin music
Stock Market Stinks - Patience is Key ...
June 13 2006
Have you ever had to take medicine that tastes absolutely awful. But, it was good for you ... and it made you well or healthy, as the case may be?
The stock market is like that right now. After an approx 25-30% run-up over the last couple of years, it is now in a bit of a funk (ergo correction). Its down about 10% in the past 6 weeks .... as people start worrying about inflation ... oil prices ... terrorism .... hurricanes ... yadi yadi yadi.
I hate down markets. They make me blue. BUT, and this is a big but .... it is in the down markets that I put in place what I need to make the money in the up market. Thus, I need "down markets" so I buy stocks cheaply ... then sell in the "up market" ... like Xerox and Lucent ... still waiting on the right moment for Union Pacific and Boeing.
So ... patience is key. Positioning is critical. The reward will come. Nevertheless, it still makes me blue ....