Hi Jim, How's life these days? Like everyone else I did wonderful in Feb but I've kind of blown it in March. I sold deep in the money covered calls on my positions which I have learned virtually never make sense to do. It hasn't worked out here at least. I will admit the cpq and intc warnings scared me and I thought we would see at least a 5% correct in the hi-techs. So far I've been dead wrong. I notice that when I have strong feelings, as I had in Jan-Feb I do great usually, but when I trade, like now, without any intuition I get killed. So probably I should just limit my trading to those times I feel strongly. Do you do that, or are you always doing some trading? BTW, I think maybe it would be useful to have a parallel thread for exploiting price rises from a base, as you have taught us here. It seems like there are quite a bit of cheap interesting looking stocks making bases. Incidentally, if the stock is below $5 then it can't be margined, right? In that case do you avoid it even if everything else looks great?
Assuming that the correction I feared with the intel warning does come about, I would like to have some good candidates for putting/shorting.
What is your opinion on these crazy internet stocks that have run up insanely high, like amzn, xcit, lcos, etc. Will they ever return to earth? Also, another candidate that might actually be falling right now is scmm? What think you about that? And any other overpriced stocks I should keep my eye out for?
Thanks again. |
