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Pastimes : Georgia Bard's Corner
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To: Ga Bard who wrote (879)4/29/1998 7:54:00 PM
From: Shoot1st  Read Replies (1) of 9440
 
My definition of day trade is wanting the stock to go up 1/8 and skim the cash. I don't do that. My day trade only consists of selling when I think the gain is TOO high for my comfort. Meaning that any body else in will probably sell and move on. I'm usually right. When it does drop I get it again because I know it's now not driven by sheep. Today was a perfect example with the stock up to a 25% net with a sizable spread it had to drop. Human nature. My equations rely on human nature more than numbers. We have all seen quality stocks go nowhere since a group has taken profits. It's unfortunate but everything posted on SI falls into this probability. Too many times in the past I've watched good stocks run up only to be sunk for weeks and sometimes months before anybody feels safe in buying again. Being a person who takes lost opportunity costs seriously, those time lags mean lots of money. TRBDF is an excellent example. Bought it a year ago and watched every move up get trampled. If I wouldn't have kept confidence in the fact that this co has a true unfair advantage, I would not be sitting today with a $2 buy turning into $9 or 10. But still money sat idle for a very long time.

Actually, I think I follow your style, and that of Joe Copia more than any others on SI. I will buy Big Dog's picks without the depth of DD that you do because his leads to me are generally long before the market move them. So far all of them have been good enough to keep for a long time barring any serious technical changes.

Shoot1st.....and always straight.
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