Commentary!! THREAD has a direction!!!!!, which is nice...but...I won't be posting here anymore. At least not any position TA. Seems to me me if a thread gets too diluted with differing direction it loses it's appeal and strength.
Now that Tim (best of luck Tim!) has returned and decided to remain and daytrade, I think I'll move on.
I would however like to point something out concerning short term trading. Daytrade if you wish, I do a little myself, but don't turn your back on short term trades.
In this link posted on Sunday, I put together a portfolio based strictly on charts of generally small cap stocks, (cheapies).
Message 10966521
It was a 100,000 dollar portfolio evenly distributed amongst 10 good looking charts based on Friday's closing prices. The market has not been overly kind to small caps the last 2 days yet this portfolio made 6,730 bucks on a 100,000 dollar portfolio. That's the equivalent of 3,365 dollars on an investment of 50,000 dollars or 1,346 dollars on a 20,000 dollar investment etc....in 2 days with relative safety and that's only a start!
The culling process, ostensibly, would begin now, i.e., removing those that are technically failing to perform up to par and replacing them with superior charts. The key is keeping the number at 10 or so. And yes the total purchase price online for 10 would be 150-200 bucks...so what? The beauty is that because these are trades based on letting the TA play out....you don't have to chase the best price.
The whole point being to keep 10 great looking charts in place most of the time and dumping most or all of the group when the indexes show signs of faltering...and they do give signals. There is relative safety in numbers, hence the #10. Ideally, and with a little extra effort, one would diversify the 10 a little more...a few mid caps...spread the sector representation a bit better etc.
I have yet to see this system fail whether performed on paper or in my personal portfolio and I've done it numerous times.
Here's the portfolio, I'm not sure the links are working, if not these are simply the 10 stocks listed in the above link spread evenly in 100,000.
These were solid stocks priced in the 7-18 dollar range. The key is finding good charts and relatively decent stocks. The individual stocks shown here are not the key...the concept is the key.
Beta version of SI.
beta.siliconinvestor.com
Old version of SI.
techstocks.com
Anyway it's something to keep in mind...this is, in my opinion, by far the safest lucrative way to make money in the market.
Good luck to all the thread participants. I've made numerous friends here and I've very much enjoyed the camaraderie!!!
That concludes this sermon...and that's the end of that particular portfolio. ;-)
Stan
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