Stoney - What do you think of CLWT? (I believed you mentioned it in one of your Barrons posts - but it is a chinese stock so I thought I'd mention it here). I jumped in at $3.85 after seeing a TV show on China where they went into detail about their H2O problems. CLWT seems like a good play, but it's down 15% the past three days. I'm thinking of doubling down. Did you bail or are you still holding?
****ALERT**** > Chinese markets & stocks broadly LOWER! They are going to try and shake us out today. We will certainly separate the wheat from the shaft-- is that the saying? Or we may get the shaft in a few of our holdings... we'll see.... Topdown I got smashed up in CLWT. That's what you get when you go on technicals alone. Worse yet I had thrown it into my wife's IRA. I'd get out.
ACH DOWN $1! I guess that's " shaft " Folks I beat myself up for sells alot but the dirty truth is I'm pretty good timing wise-- HMIN is now $3 lower! Daytraders may want to take a stab at a $44 to $45 trade but I think you step away from the name until it gets closer to $40.
From the media reports lately, I would be careful with China market and China stocks. I am not saying a nasty drop is coming, only that care is needed now that everyone is jumping on the bandwagon. soon everyone will be in and no one left to keep buying. that is when trouble will start. I have focused on China on my blog with 2 posts: http://lauristonletter.blogspot.com/
Probably would be a bad idea but I'm looking at China Mobile CHL Point & Figure breakout last week, rocked back $2 today... problem is it may only be a $2 bounce in the offering- wouldn't be worth the trade-- if China turns over. If China comes back there's $10 upside.
Glad I got out of XING right before it started to go down. Still in GIGM or whatever that symbol is. Pumped some more into it today. Anymore ideas stoney? I really fucked up with TBV, should have sold when I looked one minute and it was up, as opposed to a few minutes later and it was crumbling. Thanks to the stop limit though I didn't take that bad of a hit. But now I'm back to where I was after fucking around with FRNT. $300 more and I'll have broken even. Good thing I have 900 more free trades with Ameritrade.
Colorodoguy we need to make a book or movie about the free trades.- What did they give you 1000? that's freakin' hilarious (and scary) talk about giving someone enough rope to hang themselves. Now the only question is what we title our little experiment " 999 Trades To bankruptcy " Or... " 999 Trades To Make A Million " Now you're screwing around with TBV when I told you not to and selling XING before I do... I'll be honest I didn't look it up today because I read China got slaughtered overnight... But one thing you learn in the stock world you never say " I'm glad I sold that before it turned over... " I used to cringe when my brotherinlaw would always do that to me. I would see an exhaustive move in some stock of mine and sell right at the high of the day. Everything would be fine for a day or two, the stock would go down more, I would look like a genius. Then he would call. " Great sell on so and so... " straight up the next day and the next month and the next year... Always without fail.
Well, I've still got GIGM. NBIX looked good so I'm going to go with it. --- How do you know when to sell Stone? I had decided to take Warren Buffet's wisdom of alway selling to early after my crash with TBV. I figure I won't make money as quick but if I can get out with more than what I started each time eventually I'll get a good system going. I started reading The Neatest Little Guide to Stock Market Investing by Jason Kelly which gotten great reviews but I'm just so busy with textbooks I had to put it down. Investing for dummies is like trying to read an encyclopedia.
Knowing when to sell is the single hardest part of investing. Most of it is feel, instinct, but it helps to know the type of stock you are trading and it's history of past flairups. Does it bounce back? Do people leave it for dead? Is it a flash in the pan momentum favorite? Or is it an earnings powerhouse who stumbled? Is the valuation in line? All these are questions you must ask.