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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: shades who wrote (63337)	5/4/2005 9:14:29 AM
From: Slagle	Respond to of 74559

Shades, Re: Phil. Be careful with his picks, he will loose you money if you don't watch closely. I love his commentary and his radio show but his stock picking method is just not too hot. On the other hand I don't think any "stock guru" has ever made me a penny. I have found better ideas from the stock tables in the newspaper. He has had a few winners but lots of duds. Here is what I think is wrong with his method: He claims that he pays no attention to fundementals or newsflow, only "the charts", right? Ok...he says to "buy" XYZ largecap stock which is at 45 but WAIT till it gets to 46.50 and on some pickup in volume, ect. Lets say the stock goes up to his buy point and you buy...and then it goes right back down and then you sell at a loss if you follow his method. You loose money. What he is trying to do is to use a sort of William O'Neil Investors Business Daily method on these large caps in a directionless market and that not what the method is for. The IBD O'Neil method is to be used for special case small cap stocks and ONLY in a roaring bull market. You can trade these largecaps on some sort of breakout but you have to be FAST. If you wait for Phil's buy point the move is already over and you just get whipsawed out at a loss. Be careful. Slagle