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Strategies & Market Trends : 50% Gains Investing
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To: Dale Baker who wrote (30865)8/28/2002 1:52:12 AM
From: Ray RuebRead Replies (1) of 118717
 
I just wanted to thank you for this line

>> If PGO has any positive news on asset sales after the bell, it's going to have one helluva pop tomorrow.

I had purchased a position in PGO after the drop (but a few days before your post) at .55 and then doubled the position at .42.

The day you wrote this it had popped to .56 where I closed out the position and was glad to get out. Then I saw your post and re-bought half the position at .59. The next day I was able to sell at .74.

I don't know if the 25% move was the "one helluva pop" that you were expecting, but it was nice.

I used to work for a commodities trading firm that had 25 floor traders, and the owner of the place once told me that "all this marvelous technology is just a way to give the traders the courage to take a position... Without a position, we don't make money". He also said that "We want to be the house [like in Las Vegas]; if we can make money 51% of the time, all we need is volume. Actually we make money about 59% of the time."

I just wanted you to know that your posts are part of the technology I use to get up the courage to take a position.

A sure position for me is when your recommendation and my other stuff come into congruence; it's a done deal with positive results 84% of the time. I'll take those odds any day. A note to others: sometimes Dale takes a position and my TA sez bad news... those trades I don't do.

Thanks.
Ray
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