Re: The Andrew Vance Secret Guide to Getting Rich
There is an age old expression that if you give me a fish I eat for a day; teach me to fish and I eat for a lifetime. One of these days you are going to stop feeding me picks, Kevin is going to stop giving me his T/A, and Patrick is going to stop telling me the opposite of what I need to do. I need to survive on my own.
I have studied your posts since day 1. Tell me if I am reasonably close to accurate on my assessment.
1. Do the DD and find the players, ie. the GOOD companies to watch
2. Study the charts to know good buy-in and sell points.
3. Check the market to know when your sectors are moving
4. Have the cash ready to act immediately, and an arrangement to margin, if necessary
5. If you feel you've done your homework and your targets are met-- act swiftly and decisively.
6. Don't be greedy.
Case study:
As per your recommendation, I bought 1000 shares of UTEK on Thursday @25. Friday I watched but did not act. Monday the semis tanked on the 3Com announcement and ADPT dropped (way) below my target 38 buy-in, so I margined UTEK and bought ADPTat 35.75. Tuesday I saw both creep up but not reach my sell targets. Today, Wednesday, the semis rallied, and I sold UTEK at 28 1/8 for a $3000 profit. ADPT is also up more than 10% but my greed factor is much higher for it so I am holding.
My goal is 5% a week gain on $50K in the market. If successful, I will have earned $125,000 in my "spare time". Not bad; this week was a good first step in the right direction. Knock on wood your hot-streak for picking winners continues.
- Jeff
P.S. My greed factor on ALYD is off the chart, so go ALYD!
|
