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Gold/Mining/Energy : Daytrading Canadian stocks in Realtime -- Ignore unavailable to you. Want to Upgrade?

To: Kevin Hamlin who wrote (14444)	5/25/1999 11:33:00 PM
From: Lola	Respond to of 62348

It's not an investment, unless you hold it over a week IMO, it's a position trade. LOL Well at least I tell myself that when I really screw up and realize hey this is not a daytrade! The only time I really have invested was when I bought a mutual fund and had to leave it there because of a loan from the bank. At the end of the year, I had paid off a $15K loan but my "investment" was down 80%. I hate investments....never, never, never again. Lola:)

To: Kevin Hamlin who wrote (14444)	5/25/1999 11:55:00 PM
From: Ed Pakstas	Read Replies (2) \| Respond to of 62348

Kevin...I think most us are calling our supposed pennystock POS daytrades "Investments" only because they don't happen to pan out within the 72 hour rule of this thread... That's not to say they are not short term trades that occur within a few weeks after our purchase... I personally have bought quite a few picks from this thread and if I couldn't catch the trade on the way out, within the 72 hour period, I have eased them out at a later date (usually within 30 days), at maybe a small loss, break even, or sometimes even a decent profit... MOMO plays on this thread happen really fast and rarely does one have any time to conduct proper DD... The decision to purchase has to be made instantaneously... Either your in or your not... U spend more than 10 minutes conducting DD on a posted "Heads UP" and you'll be paying a dime more for some of these penny's while the poster of the pick is already selling it back... Sometimes we get lucky and the momo continues for quite awhile after the heads up, therefore everyone gets an opportunity of sorts... Some are quicker than others, but somebody eventually gets stuck with a position... Some of us can take a loss, some of us want to minimize our losses and and willing to hang on to the pick, maybe even average it down, thus evening out the odds of at least a break even and/or capital preservation... Rarely does a MOMO penny play become a good "investment" per se, but it most certainly can add to your bottom line...<ggg> Just my two cents worth... ...ed

To: Kevin Hamlin who wrote (14444)	5/26/1999 12:08:00 AM
From: keith massey	Respond to of 62348

Kevin.. I totally agree with you on this one. Cut and Run...I personally don't "invest" without at least 6-8 hours of DD (minimum). I thank my lucky stars the day I decided not to let LWN turn into an investment when the day trade turned really bad....that would now be a $25,800 loss (instead of $3,000) in three months without a single chance to get out (ouch). If I ever start thinking about letting a day trade that I haven't done full DD on turn into an investment I just bring up LWN's chart...it doesn't take me to long after that to cut my losses. Best Regards KEITH

To: Kevin Hamlin who wrote (14444)	5/26/1999 8:50:00 AM
From: the Chief	Read Replies (2) \| Respond to of 62348

Over the past week or two, I've noticed a few people saying that their "daytrades" now became "investments", i.e., the trade didn't work out, and they're now holding it. It depends on the stocks you daytrade. I do not participate in pennies 90% of the time. My risk tolerance is not high when it comes to pennies. As a result, I daytrade stocks that I wouldn't mind getting stuck with. Inevitably the reason I get stuck with a "daytrade" that went bad is because my stop/limit was vaulted as the stock dropped. In fact I tend to daytrade stocks that I hold in my longterm portfolio, that if I fail in one way or another will only add to my longterm position. However, your point is well taken, I agree with the philosophy and support it, but it really boils down to the stocks you trade and why. Ultimately I don't fit into the true MOMO player, that buys anything with MOMO......I just play the ones with MOMO that I like For those playing pennies that know nothing of the company....then yes, its a bailout! Just another opinion! the Chief