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Strategies & Market Trends : Dave Gore's Trades That Make Sense -- Ignore unavailable to you. Want to Upgrade?

To: canmar who wrote (127)	12/23/2001 1:58:42 AM
From: Dave Gore	Respond to of 16631

THREAD PHILOSOPHY AND MAIN GOALS (for new visitors) Thanks Marc and others, good to hear from you. I know what you mean about scalping being time-consuming. I'll do a little of it from time to time if that's all the Market will allow, but I know my main strength is finding those temporary bargains that occurs from time to time in the higher quality stocks, so that is what I hope we can do most often here. While a few are really good at it, too many of us have realized that scalping and daytrading is a bit too risky and something we can't win on a consistent basis. Knowing your limitations is as important as knowing your strengths. I like to find quality stocks that have a compelling Reward to Risk profile. As long as I feel I bought it right, I don't worry if it takes an hour or even a couple months to bring me a return. If I get 2-3 points or 5-15% in a day or two, like I did with MHP, HCR, COST, SONS, and a couple others last week, I'll often take it and lock in profits (if it looks the market or that sector may weaken the next day). However, if I have to hold a stock like WM (a stock I feel will press 35 in a month or two and is a good bet for 45-50 in a year even with stabilizing or increasing interest rates) I have no problem holding either as I long as I feel I can make the return I want. BUYING RIGHT is the single most important goal here. We don't worry if it turns out to be a tempting scalp or a longer hold. We look forward to your posts whenever you have a chance. We'll take scalp or any longer term candidates as long as the TRADE MAKES SENSE.