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Strategies & Market Trends : Z Best Place to Talk Stocks -- Ignore unavailable to you. Want to Upgrade?

To: Susan Saline who wrote (14001)	4/18/1998 1:09:00 PM
From: Ron McKinnon	Read Replies (1) \| Respond to of 53068

Z Portfolio While I am chewing on this I thought I would toss out some random thoughts Most have been said before My view is that there are four kinds of accounts Trading for trades lasting 30 seconds to a few days max in duration Short Term a few days to say 60 days or so, a bit longer if a position continues to run and the green light stays on concentrated positions that are watched daily Intermediate Term typically "position" trades time frame one to six months or so hold as long as no negative F/A change and as long as certain T/A criteria is not broken Long Term for strong, long term winners hold for six months to death hold as long as the F/A is in place regardless of the daily/weekly/monthly girations I think that the intent of our Z portfolio was short term jmho that: a 1-2% position makes no sense I think each position should be in the area of say $30-60,000 even higher for a "runner"; smaller if the sponsor has been selling down a position but wants to hold a piece for an additional gain we should dump stocks that fail on a fundamental basis or short term T/A examples: BAY is "busted, as is IOM there does not appear to be a compelling case to make that would suggest a meaningful turn in the next few weeks/months so they should be dumped to raise cash for better plays time frame if we can not make a case for a decent gain over the next few weeks to a month we should look for better picks examples: LNET; Dan makes a strong case for an eventual pop due to solid support and big insider buying analysis I don't think we should have positions that are bought and then not followed up with at least a once a week brief input giving the sponsors mind set on the position, fundamentals, T/A the purpose of this exercise is so that we all can learn and do better in our own real life trades I just don't see how any of us can learn by simply looking at a portfolio and not having a clue why a stock was bought and less of an idea why it continues to be held most here do a great job of explaining each trade; they are the people that I learn from; other positions I simply ignore and carp to myself about tying up "our" money # of positions I still think each of us should limit ourselves to a select number of positions or a maximum amount of the portfolios dollars for two reasons first, by limiting the # each of us will be forced to be a bit more selective; for the entry buy and in determining the duration of a hold second, this might help in allowing some buying power so others(Nemer, Marion, others hint-hint-hint) can pick a stock for us to watch and learn from This thread and the Z portfolio has helped me to be a much better trader and to improve my results but lately, I honestly have to say that the value has diminished due lack of meaningful input the real time interaction between the "Zer's" on mirc is just the best for daily ideas, fast profits, and fun during the heat of the market but this is a far better forum for detailed input, sector analysis, and longer term positions the reduction in posts here is a loss to all of us PS plus, I'm in a pissy mood cause my trading has sucked the last few weeks gggggggggg