Thursday, March 24, 2011

Invest Like a Wolf or a Fox

Never heard of Michael Purves of BGC Financial, but I like his concept of trading like a wolf. I'd go for fox instead of wolf, but thats besides the point. His best quote is "you have to be agile and short-term and cannot just sit on stocks and hope". Now I don't agree as much with the short term concept, but I'm in full agreement with the concept of not just buying a stock and hoping. If the reason for buying a stock changes, then dump it. Thats the whole theory of being opportunistic. Unfortunately too many of these traders have zero focus on the damage short term trades can have when the tax man cometh.

Now the Breakout Crew at Yahoo is interesting. First time to watch their work and I'm amazed to see Jeff Macke appear again. He of the famous melt down on CNBC. Jeff appears to remain very negative and seems to be chomping at the bit to short this market. Nothing has changed even since the bottom.

Watch if you've got a few minutest to waste....



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