Hi Jim ... Oh I am about the same ... I am still looking for good investments but the market has changed and you have to change with it or get nailed. I ahve not traded in about a year studying the market and technicals analysis scenarios. Now I trying to find good stocks that are not yet discovered.
In the near future I expect the market will do something to stop the insanity of the stocks under a buck. With Etrade buying out webstreet and ameritrade buying out NDB ... I do expect a per share commisssion to not be far away. Money is flowing in the under .05 and that the market I believe will want to stop this nonsense so as not to repeat the stupidity of the past few years where stocks that are nothing but stock machines and playing stock to runners will get nailed. Per share commsissions will hurt the printing presses.
What tools do you use to track the money flow? MyTrack Dynamic charting
Does it happen alot with these penny stocks where the money flows out and then flows back in over a week or so.
Sometimes but typically when the big money flows out the stock takes on gravity and the little moeny tries to hype it up but most of the time if it has nothing fundamentally sound it goes down until big money wants to play it again.
I see alot of these stocks where the money flows out and then all of a sudden they get a second and third wind.
Yep most be hack flash ... be nimble and quick if the money flow is not high.
I used to read your post when you were on SI a few years ago. how has your trading style changed since then
I had a few faults:
1. I did not BTS if I believed the fundamentals and the story 2. I blew the whistle on stocks when I should have just sold and moved on. 3. I would diligently track the trading but I never looked at the over all trading and what it was saying or I would have sold
My biggest problem is not selling until it so blatantly obvious that I should have. AVBC I support for 3 years and I had a cost of .25 after the split and it went twice to $2.00 and I did not sell it. Finally sold last year in the .35 - .50 range after it became so obvious the press was running full blast on the convertibles.
But the market lives for hype not fundamentals. The market pays for exposure and that is where the hype comes from. A company that is quiet like FAME on the NASDAQ unless the insiders like it is doing are buying it no one else will. That is the first stock I have profiled on my new site http://www.studiedstocks.com where I am going to find solid porofitable stocks. But profitable stocks are not where the hype goes... hype goes for stock that have stock to sell and needs volume to sell into it.
I ahve an OTC that has 3 profitable quarers and it can;t get attention either because they are not looking to sell stock into the volume.
Most of these that are running now and have a source(s) that are selling into the hype volume. Stocks that are solid and not interested in selling into the market can;t get attention. However like in 1998 when enough people get killed by the dilution they will be looking for solid investments again.
In the mean time trade and be "Jack be nimble ... Jack be quick" ... Jack sold out of a worthless hyped stock while it was still aflame. Then take the gains and find a solid investment and sneak in.
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