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July 10, 2010
Edited: July 10, 2010
Share ThisI am just sharing some of my past events on few stocks. That may add to your knowledge base or maybe NOT. You can add $100 worth to the blog by sharing your insights.
It is like my paper trade on DPZ - I added to buy when ZAK’s premium service said buy and was not convinced to put my real money on line. I am still sitting on paper loss on DPZ on this web site. Now ZAKS down grade it hold (downgraded 07/07/2010). were they wrong in the first place - My answer is NO. They were right the first time and they are right now. It is just one opinion. On top of it the buy and down grade at ZAKS service can be by two different persons.
I am just using this as an example.
Back to the topic of the day = 50% of folks are saying the market went up too fast on low volume.
Am I confused, NO.? Investors Business Service says market in confirmed rally - my charting service Guru says Yellow caution flag is out. Both are right.
For me the market said - it was oversold 8 days ago when wrote on market capitulation and bounce is around the corner. I was off by two three days and market kept going down by two extra days. I did pick few stocks in real money account and sold 50% of cheaper buys to lock some profits - like in US steel (X) and GNK. Are those the two best stocks in universe - heck no. I understand them enough to put my money to work at a given buy point. NVDA is screaming oversold position for now and charts and most folks will say DO NOT TOUCH IT WITH A 10 FOOT POLE. They are right and I am still ready put some real money to work and hold for 60 days
To make real money = pick some great stocks and know them like back of your hand. They will serve as good trading vehicles. Please DO NOT CHASE fundamentally weak hands. Those stocks will run and then cause grief. AKAM took a dip on bad earning report and caused my some real money loss. I turned my back and am sorry for doing it. It more than doubled. It was on my fundamental conviction buy list when I bought it first time. I sold at 17.51 and now it is at 43. My mistake - I should have gone and bought at the higher price and made some money = I did not as I burned my fingers once. MSFT is another stock which never made me money.
Once again = please do some home work and you will find some great stocks worth trading or holding. If you want to hold for longer time frame, keep your money on side line and buy the stocks when there is DEEP RED and then buy and hold. LIKE NLY - it gave us a chance to buy at 15.60 and paid 65 cents dividend since that time. If you do not want to trade on daily basis - A buy at 15.60 was perfect timing. Will i buy it here - no. I will keep my powder dry and wait for a better entry point.
Bottom line, I am a buyer of few stocks which I like at this point.
