Thanks bunches Slagle, I have done some more thinking. I got burned with tokyo joe, kimberly and friends, and Riley G in RMIL many years ago, I am through with that stuff - you are right, small company, venezuela and like Phil and Kaultbaum say - there is a REASON such stocks pays such a high dividend - too risky for me - I can't afford that much risk.
I am liking what I hear kaultbaum and phil say, large companies, lots of volume, if I miss the next MSFT that will be OK - if I can just make a few percent every week or so I will be ecstatic at the end of each year with 100% gains - if I can do that successfully for 5 years - the amount of money I am working with will allow me to retire soon and fly over to the phillipines and get my family started without financial worry. I am thinking about not even trading invidvidual stocks at all - just etf's and trying for a few percent each week if the technicals will allow for this.
Yes the Wiz said today homebuilders technically still are going up, fundamentally I have to agree with the WIZ - until the technicals support it and the mass psychology changes - many people won't be pulling thier money out of these guys.
Something I like about both the wiz and phil and kaultbaum is talking about these people who buy stocks like enron at 300 or higher and average down and now have a 5 dollar stock and then get on the side of the bed and PRAY to God that it will go back up - I know a lot of people that did that in 2000 Slagle - they have stocks they still hold that are worthless - NEVER going anywhere and cost my friends a fortune. It amazes me after all that loss they still call up the wiz and phil saying should I hold this JUNK. Today the wiz was getting onto some guy about Sirius - he was talking about fundamentals and the guy was trying to tell him something about washington - I didn't get what the caller meant but I see the wiz's point, a lot of people are gonna buy a 200 dollar stock, average down, be broke and scratch thier head like a dumb monkey at the end.
I like IBM, what is USED to be, it had some good people, but I think so many people get confused that a company is not its stock - and there will always be suckers out there giving the crooks on wall street money because they don't take the time to listen to professional traders like we are doing and really trying to figure this stuff out and get the science and techniques down. |
