Chris,
Little late to the partay, but this is what I did..
I was in the same position as you..When I first got in the market..I saw the cheapness of BBs and said.>heck, forget the INTC and MSFTs of the world..I'm going for the BBs..
Sure, better % returns, but most poeple have the mindset, like I did a few years back that it was all UP..that is just how stupid I was...
I lost a butt load of the money I had worked for over the past few summers (@ $5/day!!) so you can imagine how ticked I was...I lost quite a bit then figured out what I was doing..
I revaluated what I was thinkng..slapped myself around a few times and was like DUH!
I put what I call my "core" holdings into companies like QCOM, recently ISLD, APPL, CNET and a few others...They were stable, but yet fun tech companies..and proved well
I kept about 25% of my portfolio for BBs. They can teach you so much about psychology, how the market works, and every corner you would wanna know...I learned how and why things happened and the psychology (most important) behind it all and started making some gains....I'm not perfect or rich, but I have been doing much better since...The key is to get in before everybody else does..Sounds impossible? Nope. Just don't listen to a newsleter of a person you don't know or one that is out to momo play it all...
DD or Jim Bishop are good, well, great people. They tend to sense stuff early. DD has done awesome for me lately. I capped my team a long time ago so we could get in stocks and not move them. I actually kicked people off to stop momo plays from happening...Why? Because everybody couldn't make $$ of the club play....
So, if I could offer anything..I would say put 60-75% in solid stuff and leave 40-25% for play stocks (OTC BB) because that is all they are..play...gotta love em and leave em...get in before the crowd...and look at the charts..if the chart has a woody stay the heck away from it dude..that sounds like what you were doing (and what i used to do)...i was like..woody! whooo hoo!! must be an 'exciting' stock <G>
Hope that helps..and remember..I'm not the brightest guy in the world...
And never put EVERYTHING into one stock..insane!! BUY WHAT YOU BELVieve and understand bubba!!
Peace, FM |
