Give your stocks and positions a chance
Earlier this morning, I was a bit frustrated at the fact that many of my new buys and portfolio add ons began to falter from their buy-in prices. Still despite this bout of frustration, I decided to let them be. One thing that I learned over the years is that the last hour to half hour of the market is what really counts. This is the final hour of reckoning that reveals a stocks true strength and position in the overall market. With this thought in mind, I decided to give new stocks a chance and see how they perform in the final half hour before the close. Just as the market picked up more steam, my stocks did as well. In the end, all of them closed up from where I bought them except for SBEI. VMI turned out to be a top winner, as did EXPO (I may buy some tomorrow). Since this trading week is just about done, I have to begin looking for more earnings plays for next week.
posted by Nick M. @ 4:12 PM
5 Comments:
I have this problem two. I'm frustrated with MAIL's lack of movement in the last few days. Also that AMZN was only up 0.04% despite the overall market having a spectacular day. In fact, all of my positions traded sideways today. It's hard to get excited about the good market news when you're not feeling the effects, but I guess you have to give them a chance.
Also, I put in a limit order for SLT, which opened 2 cents higher than my order and never fell below the open. And that grew 6.64%. In retrospect I should have just placed a market order, but I usually don't like doing that.
Mateo,
MAIL has moved up nicely from Tuesday. Although todays close is not perfect (not at the HOD), MAIL is still a high quality stock with great earnings potential. The recent rise is due because finally, institutional investors have just begun to take a look at this fairly recent issue. As long as the market doesn't tank, I expect MAIL to bounce around this level 9.0-high 9 in a handle-like formation until it is ready to move higher.
Also, sometimes, limit orders are a waste of time and a loss of opportunity (such as with what happened with SLT). Forget about limit orders. Only use them when you are dealing with thinly traded or low float stocks. For big cap/big volume stocks such as SLT, the bid and ask isn't so spread out so you are better off just placing a market order cause now, instead of losing a few cents, you lost out on a 6% move. Just my 2 cents.
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