To: Selfop who wrote (14932 ) 5/5/1998 1:42:00 AM From: Dave Gore Read Replies (3) | Respond to of 27968
<OFF TOPIC> Selfop...you are touchng upon one of my favorite topics! Daytraders and Dreamers vs. Investors who do DD YOU WROTE: To: +Dave Gore (14926 ) From: +Selfop Monday, May 4 1998 9:57PM ET Reply # of 14937 Dave, Your commentary is appreciated. I read every post here and seldom speak out. The good people here, Cheryl, Brad and others have found a terrific stock and I threw out some garbage in my portfolio and established FAMH as a retirement holding, provided growth continues. There seems to be a little too much minute by minute worry about things but I understand many good people here are not thinking of retirement and want to make some quick money and are disappointed that the price is not moving fast enough. I still enjoy reading all comments and I understand the anxiety. A nice move up would be inspiring to all, short and long term holders ************ MY COMMENTS, FWIW: Too many people are definitely unrealistic about a stock. Only once in a long time do you get a stock like DGIV that runs from 18 cents to $8.00 in such an orderly fashion. Too many people also put all their eggs into one or two stocks instead of diversifying. Too many people get out of a stock way too early or hold way too long as it drops. It really takes discipline to win. There are some incredible articles I've seen that stack the cards bigtime agaist the the BB stock trader. The MM's have so many tricks and so much information that we don't have. The companies are not required to report financials like the NASDAQ, AMEX, or NYSE stocks and the rules and scam artists more prevalent as a result of that. But you know what? I've found it actually easier to trade stocks around $1.00 than those higher priced. I have also become very nimble. My portfolio is up 119% in the last 6 weeks, as I have quickly honed in on MM tricks and more saavy trading with a few others that share my philosophy. I am beginning to know when to take a quick profit and when to leave a stock for awhile and use my money elsewhere. Playing the percentages and not banking on a GRAND SLAM HOME RUN is the best strategy. When IFLYW ran from 7/16 to over $3.00 in a few days, I was out! When LCAV went from below $2.00 to $4.25 in 4 days, I was out. When PNLK went from $1.00 to over $5.00, I was out. When DGIV went from 50 cents to $4.50, I was out. But then it proved it was going higher, so I got back in just in time and off she went again. Now I am holding long term. Ditto with TGSK, which I really love at these levels. ISDN, I am a little unsure about but holding longterm nonetheless, since they have great technology and in the high speed internet and music online biz, with the best audio technology out there. OK, as enseless plug but volume was 10 times normal today. Anyway, you get the idea. Off course I have a few losses, too. But I minimize those by doing heavy DD and buying a stock that is near it's lows and down from it's highs, so that if I miss the timing a bit, I can get out quick for a minimal loss or hold a little longer than originally expected for a great return. CMP, an $11 stock is a good example of that. It will get to $25, but not in the 3 months I expected. It will take 6-9 months. THE BIGGEST REVELATION I HAVE HAD: What may not be clear is how stocks that run too fast may leave you no choice but to get out quick. Because when daytraders get involved, it can be the death nell of a stock. When the bottom drops out, many stocks never recover. TMEX has left a wake of "fly and die" stocks scattered about. The moral is that actually you are better off having FAMH go up slowly from this point. Not the 50% a day that so many want. Huh....you say? LOOK AT DGIV: DGIV has INVESTORS in it now....it goes up a steady 6-20% a week That's enough to please investors and get more of them in, but not enought to make the daytraders happy. So they stay out. That is heaven. Very few people understand or have the patience for that. We are in an instant gratification society, but only TMEX with his following of sheep can win at that game nearly every time. Funny , too about that. In 3 months, a $10,000 investment in DGIV at 20 cents would now be worth $400,000. But very few would have known this was a stock to hold. Yep....too many dreamers, too many daytraders and hype artists, way too much gambling and not enough good DD. So it goes.... Dave