Registered User
Joined: 3/25/2005
Posts: 864
|
Any input on these are appreciated.
Thanks.
|
|
Registered User
Joined: 12/8/2004
Posts: 1,301
|
both gapped strongly. Gaps are difficult to play. Gaps on stocks under 10 dollars are even more difficult to play. If I HAD to play one of them I would play obci. Irsn is being played totally by daytraders so that stock can lose everything it gained and then some. It's extremely risky to play either one of them. If you want to gamble I suggest you go to vegas. The drinks are free, and you have plenty of women.
To be perfectly honest with everyone this is one of the reasons I left this board. It seems like everyone just plays with these cheap stocks. If you make anything on them it is just plain LUCK.
|
|
Registered User
Joined: 3/25/2005
Posts: 864
|
Actually, HaveNoCents, I don't play stocks below $5.00 but, I notice that alot of people here are interested in these. So, I mentioned some interesting ones from today's activities.
I have resistance for IRSN at 3.38
I have resistance for OBCI at 4.41
If either of these open higher than today's close tomorrow, it would be interesting to see if it will approach these resistance levels or surpass them.
At any rate, I will be watching with baited breath from the sidelines on these.
|
|
Registered User
Joined: 10/7/2004
Posts: 2,181
|
I'm unsure of the reason that some people on this or any other message board become so agitated. More than one person of late has felt some compulsion to let us all know that they left this message board because we are not covering the subject matter they prefer. I submit if you don't care for the subject matter in a particular stream then you should not waste your time with it. Taking the high road is never a bad strategy. There are a great many discussions going on. Get involved in one that interests you. This environment is supposed to be for learning and mutual assistance.
HaveNoCents has every right to be disinterested in low priced stock shares; but I don't understand why everyone else has to be castigated over it. For those that may read this and are fairly new to trading, I will shamefacedly admit that I trade all ranges of share prices. Yes, the high and the low. And if I follow my disciplines I make profit at each. I bought GNBT at $0.89 and sold around $1.25. Realizing the error of my ways, I bought it again at $1.45 but this time didn't sell until $4.39. And it wasn't luck, it was following the same strategy that brought me 70% gain on TGC inside of a month and very healthy gains on numerous low priced stocks. I have also done very well with higher priced stocks.
Please understand, I don't say any of this to further the debate with HaveNoCents. Every person is entitled to an opinion. I'm just offering this thought, for those that would like to pursue lower priced stocks, or may need to due to their portfolio size, it's OK. Just follow common sense rules and it will be OK.
God Bless and Good night.
|
|
Registered User
Joined: 3/25/2005
Posts: 864
|
QUOTE (tobydad) This environment is supposed to be for learning and mutual assistance.
Agreed. Eloquently put, tobydad!
|
|
Registered User
Joined: 1/28/2005
Posts: 6,049
|
Quote:"This environment is supposed to be for learning and mutual assistance."
Realize that the concept that traders should focus on higher quality stocks
could be viewed as assistance. Some of this is in the eye of the beholder.
If someone states: "don't buy cheap stocks focus on quality".
It could be called criticism. It could also be called advice.
Isn't it ironic that starting traders focus on low quality(sometimes)
cheap stocks. When they are least equipped to handle it. No wonder
most enter the school of hard knocks.
Its simple to say if you don't agree or are not interested move on.
However there is always the danger of creating the:
This is the Elliot Wave post others need not apply.
This is the cheap stocks post others need not apply.
This is the MACD post others need not apply.
Realize to truly have debate there needs to be more than one side.
Thanks
diceman
|
|
Registered User
Joined: 3/21/2006
Posts: 4,308
|
I also agree that there are opportunities in stocks that are both below the $5 range and above the $50 range. If you see a situation that feels comfortable to your style of trading, then the dollar amount should not be the deciding factor. I have found that certain patterns matched with certain indicators, and general market trends at the time (and patience)are what has led to my success..
Currently I am looking at BIVN
If what you are doing is working then do it as often as you can..There is no right or wrong
Good trading to all
|
|
Registered User
Joined: 12/8/2004
Posts: 1,301
|
All I can tell you guys is that successful traders don't trade these low priced stocks. If they do trade them, they day trade them so as to be sure they are not holding overnight. Why do you think that is? It's because they know they will get burned more often than not. If you are learning the stockmarket learn from the people that have been there, done that, and have the T-shirt. When someone tells me how successful they are trading these stocks I and any other successful trader know they are full of crap. You may be able to fool the rookies, but not the people who have been around.
Can you make money on these stocks? Of course, but over the long run you will lose. Why mess with a losing strategy because you want to be able to say you own 5000 shares of something instead of 500. It's all about ego. Ego will destroy successful trading in the long term. Lying to yourself about being successful does not make you successful.
You can use any system you want. Take out these stocks, or at least make them less than 1% of your portfolio and you will increase your overall perfomance no matter how badly you trade. That says a lot to me.
I'm done with the lecture. Good trading to all.
|
|
Registered User
Joined: 3/21/2006
Posts: 4,308
|
You should stick to your game plan and find another board to spew your rederick. You are aptly named...I do not need your approval to gauge my success..
What I am doing is working for me..and that is all I claim..
|
|
Registered User
Joined: 1/12/2006
Posts: 296
|
On IRSN, asfbuck posted a query on 11/10. I posted a reply that I liked the stock, for a very specific reason. The reason is important.
Going forward, IRSN may become see MOMO daytrader action for several days. If you can daytrade, this stock would be a candidate to watch. If not, deciding to buy should depend on your set of rules, not because the stock price jumped.
Buy and sell rules, along with your good T/C Scans, should work for all stocks, regardless of price. On lower priced stocks, liquidity is very important - I use a minimum of 50,000 shares/day.
Commentary above is very good.
|
|
Registered User
Joined: 12/8/2004
Posts: 1,301
|
QUOTE (apsll) You should stick to your game plan and find another board to spew your rederick. You are aptly named...I do not need your approval to gauge my success..
What I am doing is working for me..and that is all I claim..
I would suggest you truly find a way to gauge your success. Backtest your methods. Then backtest them again with stocks in the lower price ranges. You may be surprised. Until then, everything is just plain luck.
|
|
Registered User
Joined: 3/21/2006
Posts: 4,308
|
Give it a rest will you.. The whole stock market is about luck, from one penny to $400.The market is being manipulated by people with more money and more smarts than you or I. My goal is just to be in the same place at the same time as they, and hope that they will not see me. If I am succesfull in my trades and as you claim you are to. Then live and let live...
|
|
Registered User
Joined: 1/28/2005
Posts: 6,049
|
I think it is a big mistake to call the
market "luck".
There are reasons stocks win and lose.
Growth happens for a reason.
-----------------------------------------------
What I dont understand. If HNC is (in effect) saying
focus on better stocks.
How can that be something to fear or be
angry about?
Thanks
diceman
|
|
Registered User
Joined: 3/21/2006
Posts: 4,308
|
Diceman you are always the voice of reason, I like that..
HNC should just have better manners. He states that investing in lower price stocks is a losing game, when people like Tobydad and myself have been winning this game for years. I know what he is trying to say, he just comes off as condescending. Tobydad and myself made it clear that we apriciate all stocks- High or Low.. Also he quotes
Why mess with a losing strategy because you want to be able to say you own 5000 shares of something instead of 500. It's all about ego. Ego will destroy successful trading in the long term. Lying to yourself about being successful does not make you successful.
I am tradig to make money. Not for braging rights..
And I like all stocks...
|
|
Registered User
Joined: 12/31/2004
Posts: 382
|
I allways injoying reading the picks people picks.I allways injoy people saying I have bought this stock at this price for this reason or I'm looking at this stock too buy.I'm allways greatfull for everyone answers...This subject is heating up a little bit too much.We donot have too call people names on this board..I do think when one gets step on they well fire back another message which is ok but lets not call people names.
|
|
Registered User
Joined: 12/8/2004
Posts: 1,301
|
QUOTE (apsll) Give it a rest will you.. The whole stock market is about luck, from one penny to $400.The market is being manipulated by people with more money and more smarts than you or I. My goal is just to be in the same place at the same time as they, and hope that they will not see me. If I am succesfull in my trades and as you claim you are to. Then live and let live...<img src="/training/images/emoticons/smile027.gif"/>
Without the proper strategy and risk management you are correct it is luck. If you want to talk about market manipulation, those low priced stocks are the perfect example of market manipulation. You won't find any manipulation in the higher priced stocks. You may not like how I am writing my message but the truth is my message is a good one. Whether you take the advice or not does not matter to me.
|
|
Registered User
Joined: 1/28/2005
Posts: 6,049
|
Quote:"HNC should just have better manners."
I could be wrong but my guess is something could be bothering HNC that
has nothing to do with trading.
I have always enjoyed HNC's posts and insights. (even when I disagreed with him).
He is not afraid to state how he feels and is not afraid to be wrong. I always
will respect that type of attitude.
Why is it we all want to think we are contrary thinkers. Then all we want to do
is find those who agree with us?
Thanks
diceman
|
|
Registered User
Joined: 2/2/2005
Posts: 13
|
What HNC is saying is, lower priced stocks are not as stable,or trustworthy, as more expensive stocks. Usually the more expensive the stock the more cash flow,profits, and the less debt a company has. So it seems to me HNC is more on the fundamental side of trading and more long term oriented.
Another consideration is personality. I am not patient so I like to get in and out. Also I am not much on researching the fundamentals. OOPS I guess I am one of those HNC is talking about. Please excuse me. HNC I have lost money in the past. But I was trying to buy and hold. I seem to do better short term. I just can't get into all the research, hope you understand. Maybe some advice on what I can find quickly without reading all those financial statements?
|
|
Registered User
Joined: 2/2/2005
Posts: 13
|
|
|
Registered User
Joined: 2/2/2005
Posts: 13
|
Sorry, one more point! What about the Worden Bros.? Are all these technical indicators no good after all? Do we always have to pick the best companies to make money?
|
|
|
Guest-1 |