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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked -- Ignore unavailable to you. Want to Upgrade?

To: Junkyardawg who wrote (3372)	12/19/1998 6:45:00 PM
From: Paul A	Read Replies (1) \| Respond to of 90042

I dont understand the money issue tho.. you really dont need a lot of money to make money in the market. If you bought 50 shares of DELL 2 years ago.. do the math.. how about 20 shares of yahoo last year? or 100 shares of XYLN for that matter... I rarely buy more than 300 shares of any stock im trading. Limits the downside if I cut the loss quick but I can let it ride if the stock is moving up and 3 points is $900.. $2-300 in profit a day is all im looking for and small quantities makes it alot easier to get thru the downturns, but at the same time make a good buck if the market acts insane like it has been.. also its very easy to get in/out of a stock when buying small quantities.. im a pebble in a stone driveway and the big boys ignore me like a gnat.. buy 200 dell, sell 200 dell.. cheap/effective/no bulletin board b.s.- nothing but serious companies.

To: Junkyardawg who wrote (3372)	12/19/1998 7:43:00 PM
From: Glenn	Respond to of 90042

Lamar that train of thought cost me. Go high volume quality stocks and smile at your low risk profits as opposed to your high risk losses. Smiles. Been there done that. I am glad I didn't overload on these guys. Glenn

To: Junkyardawg who wrote (3372)	12/19/1998 7:56:00 PM
From: out_of_the_loop	Read Replies (3) \| Respond to of 90042

Lamar: RE: "I don't have the money to buy the Yahoo's and the Dell's. But I can take a small amount of my "PLAY" money and buy several thousand shares of a BB stock. If I am lucky I will make a small profit all the while I am learning about the stock market..." Not to make this a confessional, but many of us here have lost money on BB's and the deck is stacked against you. Your point, as written above, is the fallacy that dwells in the minds of all new BB investors, myself (earlier last year) included. First of all, it is clear to me that what you lost was/is not play money - read your post again. That is mistake #1. Secondly, while there is a lot of behind the scenes manipulation with listed stocks it is clearly not to the extent of BB stocks, especially ones that do not report: they have a license to steal. Secondly, stop thinking about your money in terms of price per share and think in terms of "quantity x". With the right choices you can double to "2x". With the BB's, the spread is so great, you can't get out easily to cut your losses. ** People like Tim are daytraders for a living and they are good at it. Listen to what he says: he makes money both on the way up and on the way down- and he is in 100% cash at the end of each day. That is because he is monitoring momentum AND his finger is always on the trigger. He chooses his busses to ride one at a time (sometimes more, but not many). My point here is that if you have a day job, you can't do what Tim does unless you put in the hours he does THE WAY HE DOES IT. You may be able to do this, I don't know, and please do not take this as personal criticism, I am only putting together a group of ideas I have about trading. Tim is out of the market in CASH every night. Can you do that? If not, please evaluate what percentage of your portfolio you want to day trade. Again, I am not criticizing you personally because these are decisions I also have had to work out. There are some safe investments out there that will work out long term. There are also intermediate term investments that are technically good and fundamentally good stocks for people who do not have time to be good day traders. Check out www.marketgems.com, Jenna's popular site. "Fun is fun", but "losing money is no fun", whether it in is big board or BB stocks. I have lost before and am open to new ideas, but there are fallacies and unknowns to BB stocks that are almost insurmountable to the average investor. In a phrase: good DD does not exist because nothing is truly verifiable. That is why Tim himself does not touch these things anymore - he is a pro and realizes the deck is stacked. One of my friends said to me about one of my BB company investments, "hell, why don't you just SPEND your money?" - he was right. All that said, I do admit to several BB stocks where I have made several baggers, but in aggregate they are too few and far between. If you have to invest in a BB, make sure it is reporting, and be wary of Canadian companies and Nevada companies. ****** People really need to be realistic about what "risk capital" really is.** Best of luck to all: Howard

To: Junkyardawg who wrote (3372)	12/19/1998 8:19:00 PM
From: Glenn	Read Replies (1) \| Respond to of 90042

There are great people to listen to and some of them have replied to you already. I personally don't like high risk bb's. There is a great list of books available that will help. Let me know if you haven't seen the list. Good luck. Hope I can assist. glenn

To: Junkyardawg who wrote (3372)	12/20/1998 5:47:00 PM
From: Bradville	Read Replies (1) \| Respond to of 90042

Regarding account size, bottom line: even with a small 3-5k account- You can always afford the DELLs and YHOO's, if you take it slow at first. Its not the price, it's the trade and whether you make money or not. Actually I am almost embarrassed to say that earlier this year when my account was almost worthless I bought 30 shares of YHOO @ 200 pre-split, and on margin (that's not a typo, t-h-i-r-t-y shares) I was surprised to see how quick 30 shares turned into $2,500. Now about 100 trades later taking "little" $200-$300 profits...it's a new ballgame...hopefully, one I can stay in for a while $$$$