Quote:
Originally Posted by Andrikos
SRS and SKF FTW!
Besides ultrashorting financials and Real Estate, I'm going long PBR, RIG, RIO, POT, CHK, FPL.
I'm looking to go long GE @ $26 among others.
Any other nice sectors to short?  |
Went thru all these chrts. Good luck with those.
You'd really buy GE at $26?? Meaning it would have to make a recent low, and then you'd pull the trigger? That really works? Have you ever heard the expression: "catch a falling knife?"
Here's a hint: you want to be LONG stocks that are going up. You want to be SHORT stocks are declining.
It's your job to determine which way they are going BEFORE you make a position. Once you understand which direction (it's not as easy as it sound... fundie types like JJC just continue to screw this obvious statement up), it's just a matter of portfolio allocation and tactics. To wit: How many names can u track? what % of equity is each name? what are your profit and loss % targets? what are your working capital needs? etc.
After you close out some names (winners and losers) go back to your original rationale and entry point(s) and see what you did right and wrong. As you learn your way around the track, your win rate will increase, and your screen will tighten. If your screen doesn't tighten, then you're wasting time and equity. It has to.
Stating all this rarely matters. People assume there's some secret when it's all fairly obvious: determine the direction before you enter and remember that the first loss is the best loss (someone on this board is still waiting for C to get back to $30. He/she didn't use that last part.)