Wednesday, December 31, 2008

Losing money is no fun.

I guess you can say everyday that I haven't traded since I sucked him some huge losses has made the gut wrenching feeling I get when I think about my losses appear bigger and bigger. Today was the first day I stopped having that feeling and didn't look at all potential trades as a way to make back my losses. Today, it was all about making a winning trade, and not making back my money. I used a trade today, and though my gain was small, it helped me clear my mind and get back into the swing of things.

GOTS is no longer the little hangout it was. The room today had over 300 people. The crowd interested in pennystocks and shorting tickers using TOS has grown significantly. However, if there is anything to be said about the market, its that it is an efficient one that makes profitable strategies difficult to be consistent with. Sure sideways action maybe difficult to see and reserving shares may be difficult to do, but this is the point of a competetive market. I'll be going back to my basics. I hope to begin trading again. My last bout last week with GNW definetly proved to me just how possible it is. No I didn't catch a piece of the massive onslaught of buying that occurred. But I did manage to lose a small penny in the morning grind. Tough luck. No worries. Lets get on to some tickers of interest.

CWST, PNX, VTSS are all stinkers that we(GOTS et. all) have heard of in the past. They pumped recently.. CWST over 100% and sideways action is always a good sign. These are all playable given my account size and I anticipate they shoud be plenty to watch given I am just trying to get back into things. Market is closed on the 'morry.

*12/1 edit* picks from darkside:
KFN 1.58
MMPI 1.24
EVC 1.56
HTMX .31
GASS 4.82
EMAG 1.82
NFP 3.04
IFX 1.40


Shall see how the trading goes on 1/2. Happy new year folks. Its good to be back.