LOOKING AHEAD: November 1, 2003
Folks this feeding frenzy will be over by end of this month. I've been doing just this for 6 years now and although we do love the "rush" of the intense earnings season THE BIGGER and easier money will be with
a) MOMENTUM PLAYS from the season that did really well (SLAB, SNDK, JDAS, NFLX, USNA, CYD, ISSX, CECO, YHOO, etc) at pullbacks to support (and buys on the first swing high)
b) NEW EARNINGS PLAYS that will report ALL THROUGH NOVEMBER because although most of the plays will have reported, we'll still 15 companies reporting a day. From these we might add a few to our DAILY NEWSLETTER where we can analyze them in more detail than we can today and thus hold for longer periods than is possible during these 2 intense weeks.
c) Options plays which are about 4 to 5 a week now, will be nil to 1 a week at the most. We need to have a "piece" of the top plays now and the STRADDLE offers a cost efficient way to play which is a lot better and cheaper than VEGAS!
We never average down or hold losing positions, ALWAYS reset trailing stops after gains, and if we lose a little, we lose, better a little than a lot. It's easier with OPTIONS because capital outlay is a tiny fraction of the amount those that get stuck with stock losers have to bear. You can't trade under the burden of "I have to win now so I'll buy more and more of this loser" you will burn out or worse get FORECLOSED.
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