Now it is time to thank Kenneth Weiss for his pick. True to my
nature, I took a flyer on DOCU today with some of the profits on Jeff's ACLY pick. Well, I felt I could afford it. 20,000 shares of DOCU, in and out, netted a 20% profit. Again, who cares what happens next, it could go to 5 for all I care. NEVER LOOK AT A GOOD SHORT TERM PROFIT, TAKE IT WHEN IT COMES AND LEAVE. At this writing
DOCU is at 1.5 up > 65% for the day and ACLY is below my sell price of 29 1/4. Will I buy back in? HELL NO. Take the $$$$ and run.
People, do not get greedy. Take the profits, pay the taxes, run for shelter, wait for the next opportunity, and make sound decisions.
Look at this real scenario (less commissions since I use a discount broker and do not even ask what the commissions will be since it is insignificant relative to profits).
3,000 shares ACLY @ 18 = $54,000 Bought
3,000 shares ACLY @ 29.25 = $ 87,750 Sold
PROFIT = $ 33,750
IRS will get 40% = $ 13,500
State will get ~ $ 2,000
20,000 shares DOCU ~@ 1.18 = $23,600 Bought(small blocks)
20,000 shares DOCU ~@ 1.48 = $29,600 Sold(small blocks)
PROFIT = $ 6,000
IRS will get $ 2,400
State will get ~ $ 400
Final total on less than 2 week investment
$ 54,000 invested, $ 18,300 in taxes, $ 21,500 cash in pocket.
THAT'S A 40% profit in the past 2 weeks on the investment that is now in my pocket. Big difference between paper and real profits.
The above does not include the $$$ profits made by getting in an out of CSGI or the paper profits on INTV. They also do not include the paper losses on PRGS. All in all these will be a wash to a profit, depending on the outcome of the PRGS takeover rumors.
Point is, I am content and now have close to $ 40,000 more money to invest until April 15th. No gloating intended since this represents just a fraction of my portfolio and actually represents my truly speculative assets devoted to the "game" now.
I started small like some of the people following this thread. Through IPOs, good informed decisions, following advice, and not getting greedy, the portfolio grows. Yet with all thge good coming from these tips, I am not foolish enough to divert some of the long term safer investments to this endeavor. I am prepared to gamble with my initial investment and the profits but no more. Maybe I will get rich a hell of a lot slower, but I will also get poorer a lot slower, should things go flaky here.
I give you the above information as a new "dissenter" to this thread.
Do not go on beleiving there is a pot of gold at the end of this rainbow, make your pot of gold by not getting greedy and sell with a nice profit. If Shawn is our FRIEND, his advice will continue to come along with the advice of others who will gain the respect of the followers of this thread (Kennneth Weiss seems to be moving up the ranks).
But that's my opinion. |
