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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: AlienTech who wrote (21759)	12/4/1998 7:28:00 PM
From: Captain Ed	Read Replies (1) \| Respond to of 50167

MALL...I agree it would have been a good short. Unfortunately, for me, I was long. If EBAY is worth $200+, I don't see where UBID is worth less than $32. (Don't get me wrong; I'm not saying that EBAY is worth $200+ today, but I don't see UBID at $32 when EBAY is about $200). I think MALL will come back strongly, assuming that the market does not completely tank, but who is to say? I would only say that MALL, at its present level (compared to other internet stocks) is grossly undervalued. NOTE: I SAID COMPARED TO OTHER INTERNET STOCKS...I'M NOT IMPLYING THAT MALL IS UNDERVALUED IN ANY FUNDAMENTAL SENSE) Look at GLCCF; I called that to the attention of the thread on Tuesday right before it was "noticed" by CNBC and it went through the roof (good for my account and that of anyone who listened to my post), but it is still EXTREMELY high, given that they have all sorts of problems (major) as brought out in the CNBC interview, while MALL has totally tanked. I think there are many people who don't know the finances involved; either that or they figure that UBID will be a penny stock in 6 months. Who knows. I gave up on long term investing a while ago. I don't even want to think about the number of stocks that I bought and watched go up 20-50% in a month or so, only to see them go down 20-50% in another month or so. I, like most "investors", used to be thrilled to make an average of 10-15% in a year. Now, if I can't mke 10 or 15% in a few hours, I'm not interested; and if it goes down a few percent in the hour after I buy it, I'm history. Result; up over 260% in the last 2 months. I never got that kind of return with buy and hold. I firmly believe that the "powers to be" (AKA financial advisors, mutual funds, investment houses, etc.) want to totally squash day trading (as evidenced by all of the negative publicity over the last few days) because they realize that if the word gets out about how poor most money managers, mutual funds, or "buy and hold" investors do, relative to a successful day trader, their "jig may be up". Of course, I realize that most people cannot be day traders, due to work, etc., but even short term investing is, IMHO, much better than buy-and-hold. In the "old days", I used to buy companies and sell them when they made 30% or so. Sometimes I only held them for a week or 2; sometimes for many months. But, I found that by buying and holding for a decent profit and then selling, I did much better than buying and holding for long term periods. Sure, I got screwed by the taxes, but I'd rather pay full taxes on a nice gain than pay reduced taxes on a lesser gain--or even a similar gain spread over a long time. Remember, compound interest works best when you take small profits FREQUENTLY. If you can make 1% return on your account every day for one month, that is 22% return in one month and over 1000% in one year. From my experience, 1% per day is not unreasonable as a day trader, as many people on this thread will testify. (Don't let the math get away...there are problems of scale, etc., but the return is achievable with modest accounts.) Anyway, my present time frame extends no longer than the end of the day. It feels good being all cash at night!! Happy trading, Ed