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Corinthian Colleges Inc. Message Board

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  • con_law_misery con_law_misery Aug 20, 2010 11:01 AM Flag

    must hit 6 by year end 2010

    no more short term trading for me cube. At down 54% since 2007 it clearly isn't working for me. I am now mentally and emotionally prepared to lose the rest. By Wednesday of next week I will be 100% all in COCO with a sell order at 6 and a stop at 3. I will then walk away for a while and see what happens.

    I can honestly say I hate the stock market with a blinding passion and wish I had never heard of it. It's time to try to rebuild my life without caring about money, or losing to the market. It's just not worth the misery and as a good friend recently said: "Did you have to worry about where you were going to sleep tonight? No? Then you're better off than 80% of the world's population."

    Having said that I still think this company will be around down the road with diminished, but strong, earnings.

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    • FWIW,

      con, following the kind of stuff you've been buying - you are like me, you are good at weeding through a company's prospects, and its long-term earnings potential.

      That's all good and well for long-term fundamentals investing.

      But for day-trading, it doesn't work. I've taken the same beatings trying.

      Gotta just take a longer term approach.

      • 1 Reply to cubemeister2001
      • cube,

        I was doing OK until 2007 when I somehow got infatuated with the triple ETFS. Those things absolutely wrecked me. Now I'm in a situation where I'm down 54%, and it makes it hard for me to stomach the swings and hold.

        This time I'm doing it. By next Wednesday I will be 100% in COCO and playing for a bounce to 6, minimum. If I get stopped out at 3 I will just write a check to a charity with the rest. I don't even care enough anymore- I lost at the game.

        But yeah, that's the only way possible to make the losses back- try to find some fundamentally solid companies that get beaten down and panic sold and then hold for a long time. It just sucks to be down 10-20% or more right off the bat.

        At -54% I need about 118% gain just to get even- need COCO to get back to about 9.75 or so. LOL!

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