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Politics : Welcome to Slider's Dugout
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To: lifeisgreat who wrote ()11/26/2008 12:20:55 PM
From: SliderOnTheBlack3 Recommendations  Read Replies (1) of 50053
 
re: ["I invest for value. I don't day trade because I know that
most day traders go broke. You will obviously learn this lesson
the hard way."]

Did you drop out of a time warp?

For the last eight + years that I've been focused
on the gold & pm stock sector, I've been about as far
removed from being a "day trader" as is humanly possible.

For years now, I've derided the DNA-doomed, slot-machine
mentality, day trading junkies who missed multi-month long
100-200+ point swings in the HUI, because they were too busy
trying to scalp .04 cent moves in stocks that made $10 to $20
broad moves.

My recommendation to "day trade" this market is ONLY due to the
unprecedented volatility/record VIX, and manic market swings
due to forced liquidation selling by hedge and mutual funds,
along with the total give backs we've seen in just the last
hour of trading on multiple occassions.

My mantra has always been... "take what the market gives you."

I make no apologies for recommending the obvious.

SOTB

PS: I've been buying SLW all morning... done now, and it's
looking like it's finally about ready to break out of it's
downward trading channel.



If you're looking for something that's still cheap, and hasn't
already run up...

Please, do your own research, and don't day trade it <vbg>.

And if you buy it... buy it for value, and for the long term!

;)
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