Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: excardog who wrote (18728)	2/22/2003 3:02:46 PM
From: Sweet Ol	Respond to of 206123

There is an article in the Tulsa paper this morning about T Bone's sale of VPI. He only sold about 1/3 of his stake (if I remember it correctly). They probably had a buyer lined up, but it sure didn't take long for them to move it. Best to all, JRH

To: excardog who wrote (18728)	2/22/2003 4:28:11 PM
From: chowder	Read Replies (1) \| Respond to of 206123

Cardoggie, I think I already mentioned that the OSX was a confirmed buy off Friday's action, at least in the short term. If I didn't mention it here, I know I did over on the RIG board. I sold my oil service holdings two months ago at OSX 88. I had consistently commented that I would buy back in if we could break OSX 88 on huge volume. This it did yesterday. We solidly moved through two major levels of resistance this past week and those resistance levels will now serve as support. If the OSX should break below those support levels in the coming days, I'll tuck my tail and run. I will not hold on. I read an article a couple of weeks ago that talked about a study done by a major brokerage firm. This firm studied all of their retail accounts that were invested with them from the middle 80's to the middle 90's. This time frame involved the greatest boom cycle of our generation and only 8% of retail customers showed a profit over that 10 year period. Think about that for a moment! The greatest boom cycle of our generation and only 8% of retail customers showed a profit! I wonder what impact this bear market will have on those numbers? Wasn't this the middle 80's to middle 90's the age of the buy and hold strategy? DELL up over a 1000%, MSFT up a gazillion percent over this period of time? What happened that only 8% of retail accounts could show a profit? My guess is they didn't know how to pick good buy and sell points. Most probably didn't know how to take a profit. I'm sure most understood the fundamentals of the stocks they invested in, but most probably got in too early and stayed too late. It's the reality of studies like this that has me more focused on timing my buys and sells. I don't buy stocks anymore that are falling; trying to catch the bottom. I only buy stocks that are rising, and rising in price accompanied with huge buying volume. I don't chase the dream anymore, I try to manage risk by buying stocks that are rising and cutting losses at 4% max. Occasionally a loss will drift a little more on me, but it's rare. And there are plenty of times when I miss an opportunity because the situation didn't line up exactly to my liking. Funny thing about opportunities though, they don't delete capital, and another one always comes along. If I can find a stock that will provide me a 7% profit ... just 7% ... and do that 3 times a year, I will have Warren Buffet type returns on an annual basis, compounded. Provided I stick with my strategy. Now there will be times when I do better than that, my first entry into RRI last month netted me a 40% return. I'm already up 7% on this latest entry, so I'll be very careful here not to let that turn into a loss, regardless of how much potential for future profit is out there. VPI may be a good value here. I'll wait until I see the price rising and the buying volume picking up before I jump in. My goals are modest. I want to be one of those 8% that shows a profit 10 years from now. dabum