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Forum - Wall Street Pit    Stock Due Diligence for All

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From: Lionmaster (Rep: 6265)Date: 01/09/2010 21:07
Forum: Wall Street Pit - Msg #1856841Thread #672876542 (Rec: 1)
great email: You know I've been doing this stuff for a long time...almost as long as you Sam. I don't even use L2 whatsoever. I just use a streaming quote system that shows 1st line bid/ask. Years ago I did use L2 when it was the newest "edge" that one had to have in order to be ahead of the pack. I ended up losing a lot of money and stopped trading altogether. I took some time and studied the markets and found a system (actually several systems) that work now. Paper trading for awhile rebuilt my confidence; and once I was hitting 90% accuracy I commited funds once again. I can tell you in all honesty that I am to a point where I continue to go to my job only because it's fun knowing that I'm to a point financially that I can quit at any time and be completely unaffected in lifestyle change financially.

Here are a few things that I look for when I commit funds to a trade (feel free to share these in any teachings you publish):

Last hour of trading when placing a momo day trade: If the PPS is flat to just below the daily avg. by 5% and there is a 10% daily volume surge then there is going to be a run into the close. Stock closes at/near the HOD then volume/price will continue it's rise AH's and PM next day. Exit this position between 9:30 - 10:00 a.m.

Anticipating an event/news on medium term buy/holds: I.E. - Stock ticker SOMX - The stock was channeling for nearly 2 months. Then it was annouced publicly that they were to meet with the FDA re: their drug on Jan. 20th. I know nothing about the company or drug. Just the anticipation of news in the next 3 weeks will drive volume and hence price. (SPPI was another one with similar circumstances).

Dumpers: Whenever a stocks' share price gets cut in half there is a window between 10:15 - 11:30 a.m when a turnaround will occur. This is ALWAYS good for a quarter/fifty cents/dollar bounce day trade.

I never commit more than 10% of my portfolio to any one stock. I've had 2 bad trades in the last year where I lost money. With actual funds I'm still doing better than 90%.

I'm glad to share these few systems because I appreciate being welcome here and use the eyes of many to find opportunities.

Best wishes,

***Disclaimer & Disclosure***: I posted this message for your casual reading only. The message(s) above is neither an investment advice nor suggestion(s) to buy or sell ANY securities at ANY time, PERIOD. Please discard this post at once and DO NOTHING and MOVE ON. The accuracy, completeness or timeliness of the information posted here is not guaranteed by me. There may be delays, omissions, or inaccuracies in the information due to my own haste to do MY OWN fast due diligence for MYSELF only! The message postings here is 100% free and posted as casual and fun reading only. Last but not least, I am not a registered investment advisor in any shape or form, please do not ask me for ANY investment advice.

And by the time you read this post, I ALWAYS have bought any of securities mentioned above AHEAD of time before I post. And, I plan to sell all of the securities mentioned above within minutes or keep some for daytrading and/or short-term investing. It is my decision. The decision to buy or sell any security that may be listed above is done purely at your own risk. Please consult a licensed broker before trading. You now HOLD 100% responsible for your own trades and own actions!


1998 Yahoo! Stock Picking Challenge 1st Place Champ! Out of approximately 200,000 contestants.

Top 25 Finisher 2006 CNBC Portfolio Challenge! Out of 250,000 contestants.


What is history is history, now learn to do your own stock picks and be a champ also! Empower yourself!


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