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- Thread starter BSAM
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Changed up my trading strategy about a year or so ago from momo to more of a value investing type and my net worth has been slowly creeping up and is now standing at an all time high (due mostly in part to JC Penney). Something I've noticed about these beaten down and value type plays is that too many of them are related to the energy sector. Even stocks that are not in the energy sector have been beaten down simply because energy companies are their clients. Every manufacturing stock I look at that is down around its 52 week low is a vendor to energy companies. I can't touch these stocks, they are subject to rumors and getting jerked around. I am compelled to leave them alone. BTW - I think Freeport and Alcoa are setting up bull traps. They look like they are ready to reverse their downtrends, but it's a trap. Stay away. For now.
Loving my new air conditioner. I sit here cocooned in my tiny bedroom with the door closed while the rest of my apartment bakes. Just sipping boxed wine and hanging out with my ET buddies. We got a good thing going here. Thanks to BSAM for starting this thread. Thanks to Baron and the mods for not deleting my drunken bullshit. We can apply ourselves and make money in the market, even a working class ne'er do well like me. I ran my numbers through a CNN/Money calculator and for my income level, I have a much higher than average net worth (not so for my age, though). ET is a Master Mind group.
There's a dive bar that opens up at 8 A.M. in my neighborhood. Seriously. A friend of mine told me about it, but I didn't believe him. So a couple of weeks ago I walked down there early in the A.M. and sure as shit - they were open. A few grizzled old alcoholics sitting in there drinking shots of whiskey and one guy drinking O'Doul's and reading a newspaper. I'll head down there tomorrow after I've had my latte and bring my book and notebook. It's always a good conversation starter. I still haven't figured out how these old guys have managed to spend their mornings and days in dive bars. I'll continue my research and report back here with my findings.
Where the fook are you guys?
Bought Elizabeth Arden stock this afternoon as the market was tanking. Picked up 500 shares at 9.87 and then I watched at the green lights on my java quote program started going nuts right up to the close and the stock closed at 10.50. I'm a long term trader, a position trader as some might say, so this 15 minute price trend should be meaningless to me. But whenever I open a position with an immediate profit, the position turns against me.
My net worth is hitting new all time highs. I'm still poor, though.
How are you ETers doing out there? Let's hear about it.
Bought Elizabeth Arden stock this afternoon as the market was tanking. Picked up 500 shares at 9.87 and then I watched at the green lights on my java quote program started going nuts right up to the close and the stock closed at 10.50. I'm a long term trader, a position trader as some might say, so this 15 minute price trend should be meaningless to me. But whenever I open a position with an immediate profit, the position turns against me.
My net worth is hitting new all time highs. I'm still poor, though.
How are you ETers doing out there? Let's hear about it.
I don't think Barron's cares about the print subscribers anymore. I canceled my subscription due to nondelivery. I had made several complaint calls and every time I would allow the customer service rep talk me into keeping my subscription active. After the third week in a row of nondelivery, the rep told me that a Barron's manager would personally call me to discuss the problem. No such call ever came. They just didn't give a shit. I canceled the subscription and now I miss my Saturday morning with Barron's. There is a newstand a couple of miles away that I will check tomorrow to see if they carry it. If they don't - it looks like I will never get to read a print edition of Barron's again. 