My take as a daytrader:
Don't do any DD on any stock, just learn to read charts and follow them. The more you learn about a stock, you get clouded thoughts, start to fall in love maybe, affects your decisions. Become robotic, umemotional, something I am always working on, cause I am an emotional person up and down, the more level you can be at this game the better. BUT LEARN TO READ CHARTS!!! CRITICAL TO KNOW, CAN'T SAY IT ENOUGH HOW IMPT IT IS TO MAKING MONEY AT THIS GAME IN THE OK CORRAL!
I'm only avg at charts, but can find my way around well enough, but need to get much better. Some guys here that are exc on charts, pay attn, ask them questions.
EDIT: I don't believe in holding anything long, don't believe in IRA's, etc. Cause when you read my profile, you'll know what I think is coming and why I think in minutes, hrs and days and not in yrs....