Sold AMD

I knew it was a mistake going into it and should never have bought that second round of AMD. I know that AMD doesn't have a lot of cash and a new chip takes a while to see revenue so it must be that a lot of people wonder if AMD can even survive in this economy. I almost put in a stop loss at 2.10 last night and this morning it was at 2.00. I put in a stop loss to sell everything at 1.94 and it triggered late in the day. I fully expect it to bounce back at some point, but I'm through with this market and was done with it at the end of November. I'm really glad I sold out then as things are a lot lower now then when I sold. Everyone says this is a long term market, and that $10,000 invested in 1929 would have been worth $6,000 in 1935, but the market didn't bottom out until 1932 and what if you invested your $10,000 then? It would be worth $25,000!!! Not to mention that a lot of stocks went to zero and shareholders almost always get zeroed out in a bankruptcy. Long term is a way for others to get you to help stabalize the market while they play the game. Sure, Warren Buffet is buying a lot of stuff, but he's making deals we can never get and getting all kinds of options and preferred stock. He's in a different league and can lose a few billion without any sort of pain.

So, I'm out of the market (and mostly have been since mid-NOV early OCT) except for a little STMP, the ashes of FNM, FMC and a tiny bit of JAVA just to get financial reports from a company I used to love until Jonathan Schwartz messed up Java really badly (by bloating it and ignoring client apps) and then got the CEO spot to everyone's disappointment. Other than those, I'm out for a while. It took almost 3 years for the market to bottom in 1932 after the 29 crashes so I don't expect this one to take any less time. I'm waiting until this feels like a long term market again...