Quote:
Originally Posted by Baraka_Guru
There are people who make real money there and they have never even seen Wall Street.
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I know. Just seems like it used to be I'd buy something with the idea that it had value. I buy it thinking the dividends and earnings would pay off over time. Now I spend time, like right now, scanning to find what bio-med stock just got the FDA's AOK for their latest and greatest cure all or what energy stock is being hyped by Motely or Marketwatch et el. I figure out which ones I want to buy. I hold them until I make a few points then dump them before everyone else realizes it's all hype or the cure all does more damage then good and is recalled. I use to buy stocks that I planed on holding for at least a year (US tax thing) in the last six months or so that's completely changed. Now I buy and sell as soon as I see profit. I've bought and sold the same stock in less then 40 minutes. Actually Monday I think I broke the 30min. barrier.
I have no idea what my accountant is going to say at the end of the year. But this is the only way I can figure out how to make money in this market.