1999 Mar - My first 100k online bet AMZN ever - at 52. Now 1844. Be loyal to the management and ready to remarry your divorced bride if you both realign
Yes in Feb 1999 I bought 1920 AMZN at 52 AND the next days sold at 64. Topped at 110 in April l999. Fell 65% to 44 in August 1999. Rose 110% to 107 in Feb 2000. I thought I was a genius in Feb 1999 and would make money easily this way. I did not realise I could have picked anything as the tech sector was in the mid cycle of the most amazing two year bubble bubble which started 1 year earlier and ended 1 year later in March 2000 when it fell 30% in one month and came crashing down 100% to 1998 levels again. It crashed to 7 dollars per share by Nov 2001. Within 18 months of March 2000 there was four 10-30% false upwards corrections. This would have been Great for the person whose great strategy was to surf it down for 2 years from the top, shorting another 30% of FF with every 25% correction back up. Long in bonds prices would have been a less emotional ride and a great strategy too. They doubled in price in 2 years. Amazon AMZN temporarily topped in e...