Diamond, the #1 key is timing. There are so many
I missed this week, this month and even today. For each and everyone of us that is and will continue to be the case.
I loved BCON in the past and didn't have any money in them this week.
I've had my eye on AAC this week and didn't see the EBAY news at noon until 12:45, so the major run already happened.
NCDP was put out by Green Baron a few days back and missed this money that could have been made there.
In all three of these examples, hot news moved their stock prices. I look for that. SPEA fit this trait, plus a low o/s and this is the first and only chance to own Elvis as a public company:
"The new partnership includes all trademark rights to the name, likeness and image of Elvis Presley and all EPE-owned intellectual property, including its collection of photographs, archival documents and footage, and EPE's successful music publishing catalog, as well as the Graceland visitor center complex and Heartbreak Hotel across the street from the mansion and all other EPE real estate investments."
Unlike WNMI who had an awesome run with the Paris Hilton news then nothing else was heard, this is the real deal at SPEA.
As for next year, 10-20% can be had if everyone is patient with their trades, times it right and banks half their profit while adding the other half to their original stake. There may be times when some have plays that do well and I miss out on or it just doesn't fit my comfort level.
For each of us, patience and staying within your own comfort level is the key, even if it means only making 1 trade a week or not trading all while plays go by. But by all means when you feel it, get in as early as you can. The majority of the ones I botched in the past were plays that I simply got in too late.
In a nut, be disciplined but strike fast when you know the iron is going to get hot.
Bo
