Brian, it is true. I use the rolling stock method combined with news releases. I look for stocks that move up & down within a certain range with a longer term upward trend.Stocks priced from 10 - 50 are better because you can purchase more shares. OO is an excellent example. Galoob toys has been great this year. Once I believe I have the rolling pattern down for a certain stock I buy at the trough and sell at the peek. My goal is to make as many of these trades as possible per year. When I buy at what I think is the trough, and the stocks heads lower, if I really believe in the stock, I BUY MORE! I also BUY ON MARGIN. I try to keep my margins at 50% but have been as low as 32%. I have'nt had a margin call yet. I watch my trades with a MICROSCOPE, checking all their prices several times a day, ready to pull that rip cord if my margins drop too low.I scan the chat threads for posts by people who seem to know what they are talking about (like you) and try to incorporate their insights into my rolls. News stories effect the peeks and troughs. I bought my last 5000 shares of 00 at 11 13/16 on 7/18/97 because I saw that YOU had identified a support level at 12 3/8 which I did not believe would be broken, but alas, I was wrong. You identified the support level, I chose to believe it would hold. I did post something to that effect the day I bought. When you have 5000 shares, you only need 1/4 point to make over one thousand dollars. Sometimes I get greedy and wait, other times I take my thousand dollars and run. I try to make a minimum of 1k per trade. My goal is to make 100k this year. So far I have made 50k with 23 trades. I am still a beginer, but I do have BIG BALLS, but ohhh do the neighboors hear it when I am down. I screwed up on NSCP and did not bail out on time and was down as much 130k at one point. NSCP has since come back and I'm only down 60k as of today. Last week I was actually UP on NSCP. I wished I would've sold, but I did sell 10k of August 50 NSCP calls! It can be quite a roller coaster ride and isn't
for the week at heart. I am confident that I will make my 100k this year. Next years' goal is 200k. I have to pay quite a bit of taxes because this is NOT in my retirement account, but that's the price of success. I am not bullshitting. Last year I made 85k.
truthfully,
grasshopper
P.S. I started with 1k in 1990. |
