PHG: You have some good thoughts, here are the results, not so good!
I started investing in Nextel at the end of August, bought at 25, sold two weeks later at 27, made 1,300 while on vacation. Not so bad for a small time investor of 650 sh. I decided that I could make alot more, the stock cycled in predictable cycles. Heck, buy/sell on Schwab's money. Hey, I wasn't happy just investing 650 sh. so I upped it to 1,000, then 2,000. My system was great, the stock cycled almost a point a day. Down in the first hour of the morning, up at mid day. Up the first hour of the morning, down at mid day. Worst case, if it falls quickly, hold and wait until tomorrow. Schwab gives 3 days to settle, sell first before they ask, right.
I'm still here, as of two days ago had 7,000 shares. As you noticed, the last few weeks the stock moved much more than the daily swing of 1 point, it moved more than one point in less than 5 minutes and then doodled for the rest of the trading session. Try to get a trade in when the change happens faster than you can type your password in. Anyhow, this is how I became a long term investor. You can say, I'm long on Nextel. How do you short if your own 7,000 shares long?
Moral to the story, the only way to deal Nextel in this market is to cut your heart out and have blood pressure medication injected directly into your brain. I did, it works. I'm useless at work now, but I still look for buying opportunities.
Hope someone learns a lesson from this. Quit work, you can loose more money gambling in stock than you can a work, isn't that the object? Am I missing something. I just love this medication! (just joking
Regards:
overly medicated, Al |
