Aero,
As we discussed, I wrote this note 3 trading days ago to Cosmo (#20656):
"Today I was happy enough to be holding EGHT VOCL RTK POSO TGAL DSLN ONNN GOAM WHT. I owned EGHT only because Dabum a couple of weeks ago in a p.m. asked me what I thought of the chart: I said I thought it looked great. 13 trading days and 174% gain later I still thought it looked great but forced myself to sell and take the gain. My gut tells me if I want to buy back my shares on Friday I'll be able to do so in the low $6 range."
As of now (suffering a minor computer hiccup), my accounts in these stocks show:
EGHT +174% (closed)
VOCL +40% (closed--too soon, but my computer was down)
RTK +22%
TGAL +57%
POSO +44%
DSLN -4%
ONNN +20%
GOAM +50%
WHT +48%
I think Dabum has put his finger on the main point, and much more eloquently than I can do. Most of these threads are filled with people looking at the same list of names wondering when the attractive action is going to take place. RRI is a good example, now doing well. But a lot of people are just looking at their stock lists and waiting (hoping) for a familiar name (a "friend") to step up and do something nice for them. The best example of this is the BBR thread, where the crowd has gathered to watch energy stocks and bet on their performance. It's like having a racing form but with only the horses available to bet one coming from one stable.
In the end I think one has to become more or less a stock whore: any customer will do as long as he brings his money. We need to learn about price and volume, scan the universe of stocks and winnow it down to the 2 or 3 best candidates, out of 8,000, per day to really look at. Then invest a moderate amount (1-2% of portfolio funds), practice sound money management techniques, and stay with the program.
As I mentioned, I seldom know what these companies do beyond their tickers, except I think DLSN is dsl provision or something, and WHT is in gold mining. TGAL I haven't a clue, but I think it runs into overhead resistance in the 4.30~4.50 range, if this bull market continues and nothing stock specific (earnings disappointment) happens.
Kb |
