Not_Bill, I'm beginning to understand what you mean by having a setup that you believe in, and from there, having it actually go your way. I've chased a few stocks in the past year, and my gains were never as great as I expected. I suppose this is probably because once my order is filled, at a price higher than I would have liked, I seem to run scared, and protect profits very quickly, even though some of these stocks actually run a bit higher.
Did this on Friday with OPBL. It went up about a dollar in five hours, from $5.70 to $6.70, where I sold it. It went up another 50 cents before the end of the day. That's a strange little stock, and a lot of posters on Yahoo seem to believe that a lot of money from disgruntled NYX sellers were putting their proceeds there, on Friday. Volume was huge. No telling, about tomorrow.
I sold my NYX on Wednesday of last week for a slight loss. Had I waited one more day, I could have lessened this loss by half, but my instinct was correct. Just a day early. Same with Marvell - sold on Thursday, but had I waited till market open on Friday, could have doubled my profit, due to the Broadcom effect. Yet, by the end of the day, MRVL was 30 cents below where I sold it the day before.
I can't figure this market out. I guess you'd call it choppy. With CNBC having all of this impending market correction conversation, when ever I make a small profit on a stock, I take it, because, and this past week "bears" this out, I would have lost the profit and then some. Or, in the case of NYX, I saved myself from a relatively large loss (for me). Still, in the long term, I believe that NYX will be an amazing company. I guess I just want to make as much money, safely, with the money I have, until stocks like NYX or MRVL look like their turn has come.
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