Capitulation
On September 16, 2008, Centex posted the following:
Capitulation
Some of you have been praying for capitulation.
Congratulations! Now you have it. I’m out.
Enjoyed the ride, hated the landing. Made some friends here, met some wonderful people. Thank you for enriching my life.
I still think AAPL is a great company, but no company is going to withstand the current turbulence unscathed.
techstock2000 @ September 16, 2008
I have decided that the stock market is getting to be too much for me. If sisterbreezy gets the job she’s looking for I am going to reduce my reliance on the market. I can’t keep playing the margin game in this environment. So I may reduce my AAPL holdings which I didn’t want to do until we hit 240 just to reduce or eliminate margin. I will leave a lot on the table but it may be time to just get two real incomes so I don’t need stock money to pay the bills. Then I can let my investments grow until retirement because I won’t be taking money out every other month to pay the bills and I won’t be wasting money on margin fees (which served me VERY well until this year). Not to mention that my second largest holding, WMT has returned a 40% increase this year, I’d hate to give that up too (and I told you guys that WMT was heading to 70 this year, though it may fall short, I’m concerned whether they can beat again this qtr or just meet, but the first month’s sales were good).
So a lot depends on the job situation but I did a lot of thinking last night and I just don’t like living with the fear. I just hat missing an opportunity because I have no doubt that this company will accelerate its stock price gains based on our next earnings and when the full impact of iPhone is felt. So I have some tough decisions to make, unless we return to ‘Sanity’ soon.
But I feel the pain of centex, maverick, and others today.