Tuesday, October 27, 2009

taking my lumps

I sold INSM for a loss even though I may regret it later...

I bought more PUDA and BSPM -- names I like and the people I follow like a lot.

I want to only hold my best ideas -- when you start doing well, there's a tendency to allow second-rate stocks enter the portfolio and this is pretty much the same as giving your money away.

I'm not afraid to buy cheap China microcaps on a pullback.  I know they make money and will make money in the future.  Stupid stocks like AIG are going down -- and that's a good thing.  They never deserved to be so high.  A lot of StockTwits are shorting for small change.  I should make 50 - 100% on PUDA here.  I also like NEP which I sold out - and here it is just a bit above where I first bought it.

 UVE is green.  And I added ALIF to managed portfolio.   Traders love to focus on the daily fluctuations but I think as I grow older -- those daily moves are mostly a waste of time.  Today -- quite a few names got dirt cheap again... so I'm a buyer.  A few names are cheap but I think they can go cheaper.

 I'm feeling a lot better now that I got rid of INSM.. it was worrying me and once I exit a position like that --- I can see clearer.

 The more patient I am, the better I do.  This selloff is necessary and could last a while.  There is never any need to feel rushed when trading.  In fact, if you feel that way, you are probably on the verge of making a big mistake.  That's what happens to me.

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