10K but not for my portfolio!!!

The BSE Sensex hit 10 K this week. On 6th Feb 2006 to be exact. Though it closed lower but it actually closed above it on 7th. There is whole lot of euphoria in the media. All newspapers have it as their headlines and some have compared it with the fact that Sachin Tendulkar scored his 39thODI hundred in Pakistan on the same day (as expected we lost the match despite of scoring 329 due to D/L method). It is seen as a sign of the growing optimism and exuberence of the Indian economy.
But my portfolio still shows a loss. Analysts point out that if ones stocks are still at loss at this point, then it means that they have bought the scrip at unusually high rates. Then why do I still holding on to these stocks? Everytime I look at my portfolio, I feel they are undervalued. The concept of "cutting ones losses" has'nt still dawned on me. Is it my eternal optimism about the stocks I have bought or is the emotional attachement with them? Either of the reasons are not good.
But stock analysis is no child's play. People spend hours together analysing company's and their value before investing. For me, it more like a game and the thrill associated with it. My objective now is to get more disciplined in my approach to the stock market.