Here's my take on the market for the last couple of weeks. I am mainly talking about stocks under 5.00. I mainly play these and only post those here.
I see this market as turning around and really moving forward. If its not a bull, its looking very bullish.
Trends are playing real well, stocks on the move continue to move, Don't fight the trends! a lot of bank to be made on stocks like TCOM, CNR etc....they just continue to go up,up,up. (some people are afraid they are buying at the top, but these continue to run)
News seems to be running a little weak, i'm not seeing a lot of runners on news. Of course there are always stocks with amazing news and they do run.
Anyways, was just noticing the majority of my bank the last few weeks was made on these uptrending stocks. Hopefully it will continue. Market looks like it will start off the new year strong.
Guys...your thoughts are inciteful as usual. I've always heard the trend is your friend, and sell on the news. I have gotten myself in trouble of late trying to play purely T/A on the candles....hammers at the top = sell...hammers at the bottom or bullish reversals at the bottom = buy etc. Totally misplayed STTC because of this and I am now taking a bath on TSBI because it looked like it had bottomed. I've made some bank of late but then I turn around and blow it on other trades. Quite frustrating.
Keith, Glass...keep doing what you do....I genuinely respect y'all's (sorry..I'm from Texas LOL) opinions and I continue to learn from your inputs.
Yes I definelty have a grate respect for what you have to say keithsan and will look for your posts. I have been trying to get in to this trading low cost stocks ( just bought scos @ .91 ) and was wondering if you only trade short term? I am still young, any picks for long term?
the stocks i hold long term are dividend stocks that pay out monthly, i reinvest the dividends into the stock. for low priced stock i currently own LRT, it was given to me by a good trader. it trades between 5.50 and 6.50 and pays out monthly. Its an oil trust.
[This message has been edited by keithsan (edited December 05, 2004).]