Hi Bill...
I agree that more isn't necessarily better. I started collecting symbols to follow several years ago, and the list just grew and grew. At one point a couple of years ago, I received a CD with "everything" on it. I promptly loaded that and immediately discovered that I had about 40% pure junk. Stocks that trade once or twice a week on no volume, prefereds (which don't interest me as traders), warrants (ditto), etc..
It took me over two weeks to "see" every one of these and dump 'em. I decided NOT to load all the NASDAQ files from that same CD, so that's why I don't have very many of those. However, I feel certain that I need far more of them than I currently have. So, I pick these up when I see them mentioned in a mag, IBD or TV. A slow way to collect.
I don't know if it's possible to "know" the story about all of these. I'm really pretty much a pure technician. With that, I usually don't have a clue what a company does, or what sector it's in. I don't think this is especially wise, but I am a believer that the chart will tell "all". I think my problems arise from misinterpretation of that message. However, I'm an on balance winner so far this year. I just want to be able to have OT give me more opportunities, and that's exactly what I believe it will do.
Ken |
