Wiley,
<<<<Have you known anyone that consistently made money using TA. >>>>> After being a stockbroker since 1985 I tried to figure out who makes money, who keeps their money and how they do it. I have a great perspective because I have multi-millionaires, little old ladys, young students and everyone in between as clients.
I have found that there is only 2 styles of investors that consistently make money. And here they are...
The number one investment stlye that consistently makes money in the stock market. Is the buy and hold investor. Let me give you an example of the phone conversations I had with these investors over the last 2 week. <<< "Ken I see Cymer is down 30 points this week, has anything changed fundementally with the company"?>>> If my answer is no than they ask me what I did last weekend and tell me they will have $100,000 at the end of the month to invest and hang up . This sounds like it's diffcult to do but it isn't. Just 5 years ago everyone would agree that MSFT and INTC were GREAT companies. We all knew this! Then why haven't we all owned these stocks for the last 5 years?? Because as traders we all think we are too intelligent to have perseverance. It's obvious to everyone on this thread (including the bears) that Cymer is a GREAT company. We all have another chance to persevere for 5 years! Don't miss this one.
The second type of person that Consistently makes money is the true Speculator. They call me out of the blue when the stock down big. They ask if anything has changed. If they answer is no than they buy(@ the market). They did this last week right near the lows while everyone else was scared or selling. All they know(and we for that matter) is it's a good stock and its down big. True, this is much harder to do, but making money has to be hard. If not everyone would be rich.
P.S. The investor usually turn $100,000 into $700,000 in 5 years while the speculators generally call me be back within a couple of months and has me send them out some profits for their new BMW. I send it right out for I know, "They Will Be Back". |
