QLGC, FLSH, TLGD, ITWO, JDSU etc and <<Watch List for MAY 4>> watch that one especially..
May 10 Watch List: 6, 7, 8
May 9 Watch List: 1, 3, 4
May 8 Watch List: 6,8
and today's watchlist: 1, 3,5, 8
Watch these because these are among our high flyers and large range stocks, they can easily become swing trades and with a little luck short-intermediate term holds. Remember we are not daytraders, we are swing and short term traders and have been for the last 3 years. But we are chameleons as well and we are 'trend followers'.. The market frowned on 'buy and hold theory' so we got out and acquiesced. We might come back, we might not, like a chameleon blends in with its environment. Stick to steadfast old theories will not make money, only following the prevailing market trend will.
The 'buy and hold' theory hasn't worked for 8 weeks and investors lost up to 100% and more of their profits (some even came in late). They might cast their frustration on every strategy that works. We can 'buy and hold' with the best of them. After 50-100% discounts and cash reserves we will do even better in longer term holds.
As for 'daytrading'.. These markets give you 5 points or more long/short so to be weighted down in shorts or longs is not good strategy going forward. We can't be waiting around for portfolios to 'come back'.. Our money has to work for us again now to capitalize on these bargains. If this is a relief rally so we take our 10-12% and leave. If it continues through tomorrow then we might get to 15% and more up to 100%. I still think its not really a 'buying opportunity' for holding just yet but it could be.
I will be looking for 1000 block buys today at least. If it turns out to be 1-2 day hold I want to milk it for all its worth. |
