Stock market stuff

Wayne

Wayne

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So, my first attempt at the stock market yielded me an extra $500. I bought Carnival Cruise Lines (CCL) at 11, immediately saw it drop to like $8.25 the next day which freaked me out, then it rebounded to $16 a week or two later. I could have held it, but it seems to be floating between the same prices still today, so I just folded my cards, took my money, and stepped away from the table so to speak.

Every day, I see at least one low-dollar stock so some seriously miraculous jump, like doubling or even tripling in price. I could have made about $3800 one one of them with my $1200 investment. The trouble is, by the time I see it happening, it's too late to jump on that train and ride it. Best I've done since is to break even on a couple of small trades.

How do people keep finding these miracle jumping stocks? Why can't I get on that bandwagon?

Wayne
 
Wayne said:
How do people keep finding these miracle jumping stocks? Why can't I get on that bandwagon?
Click to expand...

You don't. Any stock that could make ridiculous short term returns is going to be a rick of losing 100%. Avoid the Pink Sheets / OTC entirerly.

In a market like this one short term plays are very, very dangerous. HFT largely control the short term trends. Swing, position and long term investing is the way to go, but only after a crap ton of DD. Do not use margin until you get seasoned, and even then may want to avoid.

Overall, it looks like the market in general is artificially propped up. I would be surprised if we don't see a prolonged bear market. Then again, some sectors may actually benefit from staggering levels of inflation we will be seeing in the coming years.
 
The fact that I have no idea what you just said tells me I need to just take my money, consider myself lucky that I didn't lose it all on day one, and be happy. :)
 
Wayne said:
The fact that I have no idea what you just said tells me I need to just take my money, consider myself lucky that I didn't lose it all on day one, and be happy. :)
Click to expand...

Lol. I think that is basically it. As far as I can tell, any short term play on the stock market isn't much different from sitting down at the craps table. It's not really an investment strategy, but rather entertainment. Sure, you can win big, and people have won big. And there are some general strategies that will help you. But in the end, there is a lot of risk and luck, and nothing sure fire, besides the fact that people will try to con you.
 
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