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August 01, 2005
Know Your Markets
It's been about a week since I made my first trade. I invested in a VoIP company because I really believe that this technology will take off in the long run. However, I'm doing this experiment in the short run. Hmmm, seems like a conflict to me. Yep, I screwed up.
It seems that most VoIP companies have been hurting financially for the past couple of years. In fact, I started reading some blogs [voipnuke.com] and it seems that most VoIP investors feel like they made the biggest mistakes of their lives. There does seem to be a single saving grace that if ever sees the light of day will result in a MAJOR rally (thus signalling the exit strategy for those currently invested).
What I'm talking about is the possible buy-out of Skype by Google. Long shot? Sure. Possible? Sure. Probable? Unknown.
In retrospect I made my first trade without really knowing the current trend in the market to which I was investing. Sounds like lesson 1 newbie stuff to me.
Posted by Guy at August 1, 2005 09:57 AM