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Strategies & Market Trends : Position Trading Forum

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To: Tim Luke who wrote (1)	8/10/1998 1:00:00 AM
From: Steve Morytko	Read Replies (2) of 7247

CLE to $25 is my 2-10 day pick. I would suggest that recommendations are accompanied by at least a target price and date with a pick. 20-60% is quite a wide range. Certainly a brief explanation of why one expects the price to meet it would be helpful too. I don't care why you buy it; I don't care if you do your DD (due diligence); if you trust my words alone you are a fool. I expect CLE to report excellent earnings on Thursday and I'm looking for $25 short term and $30+ by November - it's 21 now. Check out the CLE threads on SI and Yahoo for more information. Good idea leaving BB stocks out. I was recently burned after being led to a BB story by someone who seemed to be very confident and knowledgeable. Ironically the person's prediction of a $1 stock price came true - after a 70-1 reverse split! A fool and his money are soon parted. One reason for sharing picks is to attract other traders/investors to it - after you've established your position. When the price rises to your target you sell. I think this known as "pump and dump" - a lot of BB stocks trade this way (e.g. USXP). This is especially true with low volume stocks so watch out for any recommendation where average daily volume isn't very high. I suppose "pump and dump" could be used with NYSE and NASDAQ stocks too. Somehow we're trying to avoid that by recommending only fundamentally sound stocks but that's a little hard to tell sometimes and there are plenty of 20-30% haircuts around to prove it. Of course, these might be good recommendations after they fall. As Tim suggested - TRUST NO ONE! Certainly it's nice to make a prediction and see it come true - great for the ego too. But if you find yourself thinking "this guy has a great track record of predictions" and using that to heavily influence your purchasing decisions you're headed for trouble. The Ascend thread has a contest that's kind of fun. I've made my quarterly predictions there with every intention of winning the contest. Both times I've sold one of my picks shortly after the contest started when it became apparent they weren't going to do well (BTW - NSM in the $20's was one of them). I might do the same with CLE if I saw something go wrong. If I mentioned it here at all (I might be too embarrassed) it would probably be after I changed my position. Mostly I'm here to make money for myself - not anyone else - and I'm reasonably confident none of you will lose much sleep if I lose my shirt. I'd love to help you make money and I'd feel bad if someone lost money because of my influence, but we all need to understand the rules of the game. Good luck if you decide to use CLE.

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