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NRVN, did anyone do any fishing
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Maybe stock picking is more like fishing than I thought. NRVN if bought when I recomended for $1.85. Today was as high as $2.55 and closed @ $2.35. I'll do the math. If little Johnny bought 1000 shares @ $ 1.85 on Wed and sold 1000 shares on Fri. for $2.50 how much money would johnny had made? Little Johnny would have made $650.00. Thats a 35% incease in funds. Not bad for 2 days. Now, like I have said many times before my style is not for everyone. I can't help myself when it comes to making money, if it works I got to do it. My portfolio in the contest does not reflect my real life trading. I have tried some new things and they are not for me and they are not working. But, I'm no quitter, I'll just keep plugging along. When I found NRVN I was just fooling around in the penny stocks. Being a fisherman myself and seeing fishing come up in so many blogs I thought it woukd be fun to see where it went. I really did not think, up. After about 4 hours after I posted the blog I thought, Boy I hope I don't ruin somebodys day with that joke. Well when it went up I nearly LOL. So, being there are fewer and fewer fishermen getting thier boots wet lately I don't see the price of a licence going down. Now isn't that what it really is all about? The economics of any sector. Even Duff Beer, as everybody knows is every fishermans friend on the stream, river or ocean. It should be enjoyed regularly, but with any adult beverage, moderation. There is one more thing I would like to get some reaction to on is this market. Is buying shorting ETF's and Gold the only way turn a profit anymore? Have fun on your weekend, We are to get freezing rain & snow tonite in PA so, I hope yours is better than mine. Timeismoney | ||
Comments (1)
Ric;
I appreciate the shout outs you have given me so far. I sound like a hypocrite saying this, but piling on ultra shorts will be asking for trouble. I really don't think a lot of people understand that boatloads of money disappear in just 2-3 weeks with the Ultra Shorts when the market moves upward. My favorite to look at is QID. I bought QID back in August, about 5% from its peak. I then got hammered for the next 3 months before almost breaking even after another buy. I am trying to diversify out of some of my large positions slowly because of the risk. If the market would only give me another week before rallying.
---Jonathan
Posted by Jonathan Coyle | February 9, 2008 8:38 AM