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Pastimes : Working a day job and making a profit with low capital
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To: Fred Davis who wrote (1)4/8/1999 10:36:00 PM
From: MSB  Read Replies (1) of 32
 
I can certainly relate to your situation as it mimics my own. I suspect I make even less money than you and have less trading capital.

I used to have a more diversified portfolio, but I found that I couldn't take advantage of price up-swings once the commission was figured in (I use a discount broker). So I concentrate my positions allowing for profit after the commissions even with a two or three point upswing. BTW, I don't invest in BB's. One reason being they're too easily manipulated, IMO.

I think it is essential to get a feel for a stock's price swings before investing. Just because its a good sounding idea doesn't necessarily mean that it will prove to be a winner. The market dynamics have changed, it seems to me, to a market based more on speculation and less on fundamentals. I believe that since some of these stocks can move so quickly one way or another that it is very important to get a good broker, and set buy limits, stop losses, and selling points. I have no problem doing this through my own broker.

My downfall is patience.

3 - 4 weeks ago I bought PCNTF for 32+. Since it wasn't panning out as quickly as I had anticipated, I sold at 33+ for some loss. The mistake is obvious to those familiar with the ticker.

Mike

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