Think you hit the nail right on its unfortunate head. As long as I've been playing in this game, the last few years have amazed even "jaded" me. The volatility in the markets have increased tremendously . Part of it is obviously the available technology ( electronic trading, discount brokerages, etc. )which has allowed a multitude of folks into a pretty merciless market place. That, coupled with our national penchant for " instant gratification " accompanied by our paranoid and schizophrenic " knee jerk reactions in most instances hasn't exactly helped the situation either.
Some old advice from years ago still works for me .....
1. Diversify your positions and sectors !
2. When you buy into a position do it in small quantities and observe on a continuous basis ( I rotate through the information that might be out on all my positions daily )
3. If you have developed strong convictions that your gut is right, regardless of what the daily market does ....then follow your gut. For example ....Gold is going up and the shares of mining companies will follow !!!!!!!!!!
4. Listen to all information and observe including analysts..
But !!!!! I do not follow the advice of ANALysts.
5. Don't play the fancy games of the " Street " ( options, derivatives, etc. ) in fact if you are a small player don't even buy on margin ( You are gambling with someone else's money and they are going to charge you interest on top of that. )
To me, MGMX, despite its temporary setback is not a major crises........
1. I believe in its potential
2. I am willing to be VERY patient for an extended period of time because I do understand the time required to produce results especially in the world of mining.
3. Penny stocks should be for fun !
4. I'm planning on this one making me rich enough so I can buy an island in the Fijiis.
So don't all of you give up on this thing....have faith !
The power of the " Positive " and the right numbers can do wonders for your disposition.
The right numbers could be right around the corner......
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