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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: E_K_S who wrote (60879)	6/13/2018 1:23:27 PM
From: Lazarus	Respond to of 78715

Regarding rubbing it in - No worries. True story from my wilder years: I was holding 150k shares of a stock that was having an EPIC run. The stock was at around 9 bucks and all looked jolly to me. Suddenly, out of nowhere the stock came under a bull raid and by the end of the day I was down $600k. I've never seen anything like it before... but I think it was more common back then (circa 1999) because some of the bears ran in packs (to wit, one of SI's very own) and were quite effective. I hear traders all the time saying "dont trade what you think; trade what you see" and I suppose there must be some truth in that or they wouldn't always say it; however, as a general rule I try trade what I think which is to say I try to trade what others don't see. Not sure what my batting average is but I know I strike out, fly out, get tagged out, or otherwise don't reach home -- more often than not. In the end though I've managed enuf home runs to keep me putting beans in the burritos for the last 20 years. I've often said one needs a cast iron belly to trade penny stocks... but I would say its needed to trade stocks in general, only its the volatility of penny stocks (often combined with often large positions) that makes it essential. If one is afraid of being wrong or a trade going against them -- then they probably shouldn't be trading. _________________ I wont mention my entry price but can assure it was well below $4.00 (remember, I mostly trade penny stocks). And, that stock recovered and went to nearly $19.00 before it went dotcom bust/bk.