TSLA up 50% is irrational & exactly why I can't
play many of the large cap stocks. It seems there are a huge amount of stocks that go up for little or no reason. To me this illustrates how much manipulation there is in general. For me, I can't find any large cap stocks that are cheap enough for me to want to own right now. I mean AMZN(PEG ratio of 1.5) maybe.
Re, you know that my style is generally to own 5 stocks or less. This isn't just because I don't want to own more stocks, but that as a trader, at any particular time, I don't see many stocks that have more than around 10% upside. I mean I don't like playing anemic daily dollar volume with huge bid/ask spreads, which takes almost all micro cap stocks off the table. My strategy is to find stocks that have 20%+ short term upside, that have enough liquidity to easily get in and out of(even $200K+) quickly, without making the stock move more than 1%.
If you notice, almost every stock I play has daily dollar volume of $2M+. KEQU has been a recent pick, and even as good as the fundamentals are, with daily dollar volume of only $400K-$500K or so, how much can you own ? Also KEQU, bid/ask spreads are prohibitive at 5%+ almost all the time ! So if you want to quickly sell even 1000 shares of KEQU, I guarantee you, you will lose 5%-7%. This is even worse with stocks like ETCC, which only do $40K daily dollar volume, with bid ask spreads of 3%+. I mean I had 25K shares of ETCC, and just sold all shares at once at $`1.84, as someone offered 30K there. However it's rare for anyone to bid more than 400 shares of ETCC, so one would likely lose 15%-20% trying to quickly get out of 25K shares normally !
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