Thunderttt:
I can only speak for myself but over my learning curve as a trader I have become more of a scalper over the years. Cash is king and is long as I take profit I'm ahead. With the volitility in the general market recently, the only trading periods I can rely on with any degree of certainty is the open (the first hour and a half) or the the closing hour.
-afternoon dulldromes with it's widened spread, low volume and MM tests of investors will is too much for me. I'd rather play the volitility in in the morning or the positioning being taken in the afternoon going into the close and leave the other for the professionals.
Not that I won't watch the doldrums....those stocks I have speculative as breakouts that do not do so in the AM with low volitilitiy I will watch and if I see volume participation in the doldrums I will take position looking to take profit (complete or partial) at the nearest resistance in the current market until it proves otherwise.
I do this for a living
I always hear the words of William J O'Neil in my ear.....the only good stocks are those that move in the direction of the position you have taken.
We trade the pennies.....you have to take profit when it comes as these are THE most speculative position anyone could ever take........and to those who don't understand the risk we venture into on a daily basis will never understand the emotional lows and the highs we face on a daily basis.
To all who speculate as do I... I respect all of you as you and I know of the highs and lows as no other in the markets....I will never personally critisize another board member publicaly, but instead only post my comments to either inform or to help.
COPI is in my watch list for techncial and speculative interest reasons.....I hope we all profit from it in the near future!
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