Very kind of you to write Aidivn. I am enjoying very much the better-quality repartee on this board, your entries included.

It is amusing that you reproach yourself for your KXL move - I am sure your average cost is very much lower than mine.

Every two weeks roughly I look at everything I have, and I forget for a moment what I paid for it or my history. I imagine I'm a completely new investor. Would I have bought at today's price? Sell? A good reality check.

I don't do the thing of sell 1/3 once you're ahead, or "trade with free shares" or things like that. I think they're appropriate psychological crutches at times, but for me it's just "would I buy at today's price, or not"?

My horizon is always 3 months - 24 months, except for debt instruments or hedge funds which I hold til maturity or forever, whichever comes first. There are lots of studies showing that the day traders make no more than people who hold.

I figure if KXL is "quite likely" a $7 stock in the summer of 2007, then no matter what you paid until now, it's a bargain, never mind the share trading history for each of us so far.

I have my regrets - letting go of most of my KXL and then buying it back $1 more expensive. Bottom line- either I believe in this stock or I don't.

Thanks for your writing/ cedartree

vn