I bought 500 shares of NORTH AMERICAN AVIATION at 94 because I was sure it was about to establish itself in a new box over 100. It did not. Almost immediately it turned around and started to fall back. I could have sold it when it gave up a point. I could have done the same when it lost another point. But I decided against it and stubbornly held on. My pride did not let me act. The prestige of my theory was at stake. I just kept saying this stock cannot go down any further. I did not know what I learned later, that there is no such thing as cannot in the market. Any stock can do anything.
