Jan 11, 2017 08:12 PM
(This post was last modified: Jan 11, 2017 08:13 PM by Zinjanthropos.)
After a couple of fairly decent days, my portfolio has taken a hit today. Not enough for me to panic, I'm thinking it's not a trend. Amazing how much science is involved with the stock markets. Everything from algorithms to graphs to computer technology, it's all there. Yet despite all of that, the long lasting principle of sell high and buy low is still the best guide. Trick is knowing when to pull the trigger.
I pay little attention to analysts I'm afraid. You never can tell if they're pumping or dumping a stock for their own (or their company's) benefit, I just don't trust them. I base this on experience. It's like Buzz Feed or CNN, takes three or four days for a real semblance of the truth to be reported. I have my strategies but not always successful. It's the unexpected that usually catches you off guard.
I have both a retirement savings and regular savings account with my broker. Once you learn a little about how things work you can actually manipulate yourself a tax loss for income tax purposes or if you own enough shares, even manipulate the stock price. There's all kinds of little tricks. The toughest guys to deal with are people who short sell stocks. You see there are those who want the share price to rise and believe it or not those who wish it slides. That's why I stick with the blue chippers as much as possible. I allow myself one speculative stock and one penny stock. Penny stock usually under a dollar whereas a good speculative one has already established a fairly decent price but have what they call, 'a lot in the pipeline'.
I don't buy mutual funds, I make my own up with fairly reliable stocks. Never could see the point in buying a fund where a certain percentage of the companies it's invested in are guaranteed to fail.
It's risky business but I'd rather do this than sit in on casino games. Anybody else do this kind of thing?
I pay little attention to analysts I'm afraid. You never can tell if they're pumping or dumping a stock for their own (or their company's) benefit, I just don't trust them. I base this on experience. It's like Buzz Feed or CNN, takes three or four days for a real semblance of the truth to be reported. I have my strategies but not always successful. It's the unexpected that usually catches you off guard.
I have both a retirement savings and regular savings account with my broker. Once you learn a little about how things work you can actually manipulate yourself a tax loss for income tax purposes or if you own enough shares, even manipulate the stock price. There's all kinds of little tricks. The toughest guys to deal with are people who short sell stocks. You see there are those who want the share price to rise and believe it or not those who wish it slides. That's why I stick with the blue chippers as much as possible. I allow myself one speculative stock and one penny stock. Penny stock usually under a dollar whereas a good speculative one has already established a fairly decent price but have what they call, 'a lot in the pipeline'.
I don't buy mutual funds, I make my own up with fairly reliable stocks. Never could see the point in buying a fund where a certain percentage of the companies it's invested in are guaranteed to fail.
It's risky business but I'd rather do this than sit in on casino games. Anybody else do this kind of thing?
