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Strategies & Market Trends : Wire to Wire Daily Stock Picking
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To: Jeffrey L. Henken who wrote ()7/10/1999 3:20:00 PM
From: Jeffrey L. Henken  Read Replies (3) of 3514
 
Why a Daily Stock Picking Contest?

I have always been a long term investor. As such, I have taken more than my fair share of losses because I believed I might actually discover the next great MSFT. That will never happen. Still I muddled along watching my stocks rise and fall, failing to recognize, that at least a certain proportion of my portfolio in these stocks should be traded. A few months ago I was reading PC Magazine and found a story on the most popular investment sites on the internet. Silicon Investor received a favorable review but since a paid membership is now required the reviewer recommended it only to those who are actual daytraders.

Daytraders?

Ever since that day my complete investment perspective has changed. I still hold the majority of my holdings in long term investments. I recommend that everyone else do the same. Look to bellweather stocks, leaders in their fields, or in index funds, and let your money grow relatively safely and securely.

But what about that small amount of cash you don't mind risking?

Is daytrading, or position trading, for you and where do you come up with really good ideas?

I like daytraders but I hate never having a chance to do due diligence when someone shows up and posts.... such and such is moving and I'm all over it so get it now!

That's why you are forced to post picks here before the open.

SO WE CAN DO OUR OWN DUE DILIGENCE.

Lately on this thread a certain amount of dissension has begun to arise as people begin to point fingers at those they think are front running stocks. Yes it is going to happen. Everyone of us will lose money on some of the stocks discussed on this thread unless of course you never buy any of them.

We will find some long term gems here but by in large the stocks that win a daily competition here are going to be set up for some profit taking. Some of these stocks have already been on extensive runs and others can become overextended in a matter of hours. The main reason I started this thread was to allow us all to have an opportunity to at least get some vital information about a stock we might consider buying for a momentum play. I would like to see that information made available before the market opens so everyone can do their own due diligence instead of just buying because someone else says the stock looks good.

The most important thing to remember here is that you should not invest any money in the stocks suggested here that you cannot afford to lose.

Over the last week alone we had 5 stock picks increase in value in excess 100% in one day. Lets all use our heads here and realize that someone will take a profit!

Lets look at the contest rules again shall we and lets have fun!!!

The rules are simple. The potential for gain on a daily basis is astonishing. Follow the contest and you will see. Enter to win bragging rights!

So do you have a stock you think will really fly today? Post your pick before the market opens as follows:

SYMBOL - Your name, or alias - estimated float of the stock - The closing bid and ask from the previous trading session.

Any additional information on the company and why you think it will fly during the next trading session will be welcomed by all. The winning stock pick will be judged by the percentage gain over the previous days closing price.

Caution to all investors. Expect tremendous volatility in many of the stocks discussed here. Do not invest any money you cannot afford to lose. It is not necessary that you own a stock to enter it in the contest but please follow the rules in your post.

Thanks, Jeff
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