I agree, gambling is a pretty bad way to go about things, that's why I'm moving towards AIM or a bastardized version of AIM (though, AIM has no stop loss safe) so the choice of stock is 90% of your battle with AIM in my opinion. As long as you can pick stocks that will recover after a fall, you'll be in a very good position if you don't need your money in a hurry.
I will say, irrational sells of major companies aren't really much of a gamble. Enrons and Worldcoms, those are a gamble (and I've made a bit of money gambling on Worldcom and K-Mart lately, I still think K-Mart will survive.) If you watch for irrational sell offs, you'll usually see quite a buy back in the next day or two to allow you to make a quick kill on the stock. Disney being sold down close to $10 was another good example.
It's nice to finally find a message board with intelligent debates on the topic of investing! Quite interesting!
Happy Holidays everyone, here's too a much better 2003!
- Takr
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