Posted on 07/22/2002 7:25:35 AM PDT by Mo1
Happy Birthday Gavin!
Today he becomes a man!
Didnt he have a job interview yesterday?
You can do that?
Someone was yanking a lot of chains...
The paper trading pages I use, use 15 minute delayed quotes from Yahoo as a basis for trading.
Using their quotes, I got into SVM for 800 shares at $10.69 around 10:53 this morning.
Shortly thereafter, I got out again at $10.90 for a .21 per share increase, or $168.00 after commissions and pre-tax.
That is only a 2% increase, BUT I am compounding it daily (or in this case, I was in the trade for just a few minutes. hehehehe!!).
Since I can predict what the market is likely to look like for only about 20 minutes into the future, (Thanks to the fearmongering bears, and their profit crushing volatility) then a trade that I will be in for only a short period of time is probably SAFER than trying to predict the mythical 'bottom.'
There IS money to be made, but there are VERY few stocks performing strongly right now. You just have to have "Jeff Gordon-like" luck, and bloodshot eyes from endless perusing of UGLY stock charts. (and don't even ask me about mistakenly hitting the 'buy' button while looking at a JDS Uniphase chart. ARGHHHHHHHHHHHH!!!!)
To show you how jittery I am about scandals, I have bumped up the refresh rate on my pilfered 'Business News Page' to ONE minute. Now, THAT is a nervous marketwatcher!!!!!
On the UP side, that is. Those pesky program traders again...
hehehehe!!
One of the few debacles I managed to avoid during these last 2+ years. I dumped it when I saw the CEO on TV wearing a beret. Sometimes you just have to use common sense.
If you leave it where it sits, it will grow and bloom again.
You would just buy less expensive stocks.
Small caps. :-)
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