I think I would have to agree with you. I took a while to really read, re-read, your post to really make sure I got what you were saying. There are a lot of times that I will do screens, search boards, and get a list of hot stocks. After hours of analysis I land on the same stocks that I've been buying and following. It's not that I'm not open to a new stock or anything like that - I've recently picked up EVSA and will probably follow it for a while, but you CAN'T watch every stock and you CAN'T look @ the thousands of PK, OTC stocks that traded that day, find the ones that went up the most, and wish you had invested in them. Likewise, the "homerun" mentality of finding that one stock that will go to the top in 2 weeks is foolsgold and often leads to bad decisions and poor entry points. I think the quickest way to the top is doing what you are doing - finding winners and sticking with them. I'm probably going to write a lot, so stick with me...I might get off track, but I do believe in what we are doing.
CHNW didn't do squat for the last year before Garr came on board. It's been a different company since and I don't think it will ever be the same. It's a stock that PAYS DIVIDENDS to really follow closely and if you miss one spike, it's okay, because in the long-run it will continue upward and reward you for your patience.
BJT was with me on one of my timing errors a few days ago that proves patience is needed in this busines. I was following LEND. That sector got hit hard and LEND was the poster company and financially had weathered bad times very well, but still needs new revenue streams. It's stock got pummeled from $12 all the way down to $4.68 when I got in. I new 4.68 was undervalued and thought I would make a good rebound payout. Well it kept dropping to 4 before I got scard and bailed out @ 4.20 on a mini-rebound. It has since climbed back up to 11.13 in after-hours trading today...I needed patience BUT in order to really feel comfortable and wait on a stock you HAVE TO KNOW THE STOCK. Which is why you can't just fly in and buy and expect to make good decisions. By following a few good stocks, you know the stock, it's value, and it provides a basis through which you can be patient and make good decisions related to it. It doesn't mean you time every jump and dip perfectly, but you eliminate a lot of unknowns.
Strong - I don't know if this is out-of-line, but it might be nice to keep a list @ the top of our board of the 10+ stocks that we follow on a regular basis. Obviously the list is subject to change and add a note saying "we're willing to discuss any stock, but these are ones that we are currently devoting a lot of our time too." It might help me keep perspective and a ready go-to list of stocks that I atleast know someone personally whose tracking it and can catch me up to speed if I have interest. Obviously, as we take profits and our portfolio's expand we might drop some stocks off, and begin to search new additions where potential abounds.
It might even be nice to have a few experts - just a thought. BJT, STRONG, MINE, you guys know RGNO and NVMG way better than I do - I tried to get into NVMG today, thought it was a good entry point, I would have liked it a little lower, but I balked and missed out. I'll still follow them, but it would be nice if we had certain stocks that we became the go-to person on for the board if someone had a question. Companies that you call, talk to the CEO, etc and can give the rest of us an heads up when it's time to buy..etc. Obviously no one will hold you to it, but it helps us be good @ the few companies that we believe in. We all have to do our own DD, but even in the few stocks that each of us cover, if you put them all together, there would be no way for all of us to read every post, everyday. Honestly, I'm spending a lot of time covering PDGT, EVSA, and CHNW. I can probably stay pretty update on several others. But it would help if BJT or someone says, "hey - in case anyone has some extra cash and is looking for a good entry point, NXNO is in a great position". That way it would enable me to do a quick refresher if I've missed the board for a couple of days, do the DD, and make a decision as to whether I want to enter or not. I know we kinda do this anyway - but it would save me time rather than getting so stretched researching stocks, to look @ our list of 12-15 stocks we follow and say, "BJT - I've an extra 2k I'm looking to invest, how is NVMG?" BJT can say it's just run 77%, it's a great company, but maybe wait a little while for a good entry point. That would save me time and give me greater assurance when I do look at it down the road. I know strongs following a couple that I don't know anything about or whether I should bother right now to try? EQBM and XSBV, etc. It would be nice to know which person I can ask about each stock (KNOWING that it's a subjective response).
Currently, all of my picks are ones that I'm betting on for the long-haul. PDGT, EVSA, CHNW, etc., ones that I've riden up and down and read hundreds and hundreds of posts and feel that I can eliminate a lot of unnecessary static in my decision making toward it. I had a perfect Hunch on LEND and a good entry point, but lack of experience surrounding the stock kept me from following through with that stock until my exit point. It would have been nice if hypothetically Mineshaft44 covered that stock and said listen, "I've watched this company for years, they've got great leadership, they were undervalued as it is, don't sell yet, wait a few days, it'll bounce." I'm still responsible for my own decision making, but when I know someone has become knowledgable on a few companies then it eliminates the static and helps me have patience and make good decisions. Maybe someday I'll be seasoned enough to make those decisions, but in the mean time - patience and fortitude with a few stocks will help me stay the course. If you guys could help me out at times with the few stocks that you are good at, then we could probably all make better decisions in the long run. Just to be clear - I'm not pointing fingers, you've been great and I'm doing well overall in stocks, but I guess I'm just brainstorming as to ways to helps all even more - I hope it's not coming across as blaming or anything - really I'm just brainstorming as I type and drink Bass Ale, which might be a bad idea...
Anyway - I'll leave this chapter of the book for discussion amongst the group. BJT - good post - it really has me thinking and it's so cool that we all seem to be tracking in similar veins to which someone can type something and I can go - "Ya - that's what I've been feeling, but you'd been chewing on it longer so you were able to articulate it in a way I wasn't able to, but you've explained exactly what I've been feeling". That happens a lot around here and that's really cool! btw - I hope this all coherent...
AI
