I had my butt handed to me many times,, by keeping positions on big stocks ,, as day trading is concerned
For example,, remember AMZN ,, on Oppenheimer,, where it went to 300 ,, then next day Merril cuts it and opens at 250 .. imagine ,, how many people dumped at open ,, who bought at 300 ..
Gold recently .. got us suckered in on the war ,,
As for under 5 bucks ,, it does not matter ,, minimum risk ,,
CMGI ,, another good example .. it closes strong some times,, but ,, when spoos is down,,, it opens - 5 ,, and if intraday indicators are negative ,, it keeps dropping 10 points ,,
Volume will dry up more as we get closer to X-Mas and market will be virtually closed till Jan 4th , and it will pick up around Jan 10th ,,
Like you say , I hate to go long at these multiples on big stocks , unless they really are coming off the bottom with minimum downside ,,
Winners look great ,, breaking out to all time high ,, ie., GE ,, higher than the bull market of July when dow was hitting 9300 ,, at same time ,, is there any reason for it ?
I think we have to ask ourselves that question ,,
Remember ,, nothig goes straight to heaven ,, unless of course it is IBM ,,
;-)
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