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Microcap & Penny Stocks : ROLLING STOCKS
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To: Steve Dunlap who wrote (120)11/30/1996 6:21:00 PM
From: Salim Ilmudeen   of 233
 
Steve:

Thanks for your comments. I played NSCP several times after my last post re: NSCP. I sold all my position in NSCP on last Wednesday (11/27/96) at $55 (and found out later in the day that it went to 56 1/2 - But, no complaints!!). Hopefully, some people here may have played NSCP and made money also.

Here are some of my comments re: short term plays and how I play them. Hope this helps.

I have separate accounts for short plays and long term stocks so that I don't confuse any of my investment decisions. My recommendation for any body is to differentiate b/w long term and short term plays and play them accordingly.

If you buy a stock on the short term basis, write down a stop loss point when you buy them and sell it like a computer program when the stock reaches that point. It is easy to rationalize lot of things and it is human nature to convince yourself that the stock will come back to old level tomorrow/next week/etc. But, on the other hand if you believe that it is definitely going to go up, you should buy more on weakness and take advantage of the dips. The reason I'm writing this is that it happened to me several times in the past and I don't want you also to make the mistake I made. The bottom line is to limit you losses and let your gains run.

Also check out FIBR. It looks like a rolling stock and is at the bottom of the trading range. I don't know any thing about it except that there is a FIBR thread in SI. If I decide to play it, I'll let you know.

Good luck to you.

--Salim

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