Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: shades who wrote (65407)	6/23/2005 6:44:15 PM
From: Slagle	Read Replies (1) of 74559

Shades Re: "noise" I think you really need a balanced approach. At the very least you need to be in the right sector at any given time. When energy is hot you need to be looking for oil stocks. When REITS are hot you need to be there, ect. There are a whole host of bond funds you can use to your advantage. If the dollar starts going back down buy FAX, FCO or GIM. What I am always trying to do is to trade myself into a position where I have a comfortable gain in something that pays a dividend. Then I just hold and let the divvy "pay its keep". But then I scalp and day trade too. Sometimes I will jump out with a five cent gain. Other times, if I am in a losing trade I will look at the chart and consider the fundementals as I understand them and ride the stock down. I have made some of my biggest gains that way. I use automatic trailing stops on my level 2 on certain types of positions but ONLY to protect a profit. I NEVER set automatic stops on a losing position. I just don't do it that way. I am sitting on some loosers right now but they are "hopeful" positions and my cumulative losses are very much smaller than the gains I've already taken in tax year 2005. That gives me a sort of cushion. Back in 2000 I sold every single share I held and some of these shares I had held for over ten years. I paid hellish taxes for two years in a row but it was a good idea. I really think Phil had best be used for entertainment purposes. Now Cramer is a little different. He is dead on with some of his ideas. But you need to double check before you act. And the WIZ is pretty good too. He is a real technician, like Kaultbaum. I really don't think Phil is. But he is sure funny as hell to listen to. Come to think of it Cramer is pretty entertaining too. Slagle

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