Gutsy move, Stinky. When I extricated myself from an over reliance on the laggard, I did it a bit at a time. Usually, making a ballsy move like you did blows up in the face of us small timers. If I had done what you did, the laggard would have gone up after I sold and everything I bought would have gone down. Hopefully it will work out for you and everything will go up. Have friends and family still suffering with the laggard and would like to see it go up so they can bail - unless they are like other laggard lovers on this board that are too psychologically attached to sell.
It is amusing that the pet name for ABT stock is �the laggard.� I�ve never seen this before, but then, I don�t spend much time on the message boards.
Yes � it was difficult to decide whether to trickle my holdings out of ABT or dump �the laggard� all at once. I puzzled over this for months, watching the stock drift down with each passing day. Then, a simple football analogy made things very clear for me. Assuming that history repeats itself, I asked myself what was more likely: ABT throws the long bomb for a touchdown or ABT fumbles the ball into their own end zone?
I think everyone on this board can correctly answer that question.
It goes beyond your football analogy. It's about market perception. If ABT continues to perform the way it has, there is very little downside on the stock. It won't go up that much, but how much more can it go down unless you get a Dem House, Dem Senate and HRC as POTUS? Then it could go down a lot. I think you sold near the bottom. That's what we middle class chumps do after years of aggravation and frustration. If the market, for some reason decides it likes ABT and it starts going up, you leave yourself vulnerable to feeling foolish. Of course, if it goes down, you're a hero.
The other side of that is that if you invest all the money at once in something else and the market has a punishing sell off, it leaves you feeling buffoonish. What's worse is if the laggard goes up after you sell it while everything else goes down. Don't get me wrong, there are people that have made very astute trades in their lives. Maybe you'll be one of them.
I think Kiki from this MB affectionately gave ABT the name "The Laggard." What else can you call a stock that's trading where it was in 1998 while the rest of the market is much higher? Kiki nailed it with that one. Spec took it further and called it a laggard POS. Of course, other days, Spec was in love with the laggard. It depended upon whether he was manic or depressive that day.