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.

Microcap & Penny Stocks : TPII - Year 2000 (Y2K); Groupware; Client Server Migration -- Ignore unavailable to you. Want to Upgrade?

To: Larry Levine who wrote (7236)	5/21/1998 5:40:00 PM
From: Alan Coccio	Read Replies (1) \| Respond to of 10903

These suggestions play right into the hands of the day traders of BB stocks... Hey! I resemble that remark! <grin> Larry, day trading is like a heroin habit. Once started, you just can't stop - unless you lose all your capital of course and then you go through withdrawal pains I suppose. Just as an exercise, I wondered that very thing with my trading of TPII stock over the past year. If I had been smart enough to buy at the absolute low ask price (31 cents I seem to remember) and held through today's closing bid of 1.375, I would have a profit of $1065 per thousand shares. Is anyone that smart? Not I. Here's what I have done: 44 total trades (in and out) 26 times for profits...18 times for losses The 18 losses averaged six cents per trade and the 26 profits averaged 22 cents per trade. Put them all together and my profit is $4640 per thousand shares. Take 44 round turn commissions out of that and the result is $2880 profit per thousand shares. Actually the profits have been greater since some of my good trades have been of much larger sizes when I see the obvious movements of market makers signalling the beginning of a run. Was the aggravation and stress worth it? Yes, indeed! Day trading is not for everyone. You've got to have total control of your emotions and not let stress bother you. Just because I look 65 years old and am only 22 (just kidding but I can dream can't I?) doesn't mean a thing. I love the game though. Actually, the whole purpose of this post was to comment on due diligence but I got carried away. Getting information from the company is an excellent method rather than relying on others to do it for you but I always insist that the best DD is done outside the company in question. A company spokesperson will be like one of a politician's sycophants - they will see nothing but good and none of the bad. Take what the company says and then check it with other sources. If you get the same information both places, you can be fairly sure you have the correct story. Being a skeptic when it comes to my money, I always use the other sources as a priority over anything the company says. What does all this have to do with anything? I don't have a clue but just thought I would spout a couple of thoughts while I'm still young enough to type. All the best. Alan