RULE #2: Patience - Don't Trade to Trade
This may be one of the more boring threads because I don't believe in trading unless it makes sense. If I can increase my odds of a successful trade (or a more successful trade) by waiting, I will.
I've identified lots of stocks I like if they reach my buy point, so chances are one or two of them will do just that in the next hour, day, or two. No rush, let them come to me. What stocks and levels, you ask? We'll that's where we all come in with reasoned guesstimates. That said, I would likely re-enter COST near 40/41, MDT near $46, GE near 37, AMGN near 56, WM near $28, SEBL near 27, GSPN near $12, perhaps FLEX near 24 and SANM near $19. To be honest entry or re-entry points need to be refined every day, as everything is dynamic. If the Market technicals started to turn real ugly and key levels were broken, then the above entry points would have to be re-evaluated.
If compelling news hits, that may speed things up, but otherwise I watch for overall market strength and the right entry point.
Why do I want to help make brokerage houses rich? Besides, it's more fun to WIN. |
