Well, I have not been posting much for the last 2 months or so. Some have written to ask me what's up. I'm fine, but I haven't been posting because I subscribed to a service recently. This is Josh's (MauiTrader from Investors Paradise) new paid site. It wouldn't be right for me to publish his stuff here, so I have been holding back from posting as I have not been doing much new research on my own. He does pick new longs (and/or shorts) and I've been sticking with what he recommends, but I mostly joined the site for guidance on market direction and remaining disciplined. He provides a great daily commentary (and also a great free weekly commentary) that really cuts through all the BS out there.
What I found in the past was that I developed the ability to find new longs on my own and discovered a lot of winners, but selling them was not so easy. And the main thing I struggled with was dealing with what kind of market we were in. This should be easy with IBD, I know--it's either rally or correction, right? And maybe this was a lack of discipline on my part because I kept buying during corrections. But I would get out or start shorting too soon. So I felt that instead of me trying to follow so many different blogs, going to meetups and investor forums, reading different periodicals and listening to radio shows and podcasts, it would be well worth the money to pay someone who I know is an expert to help me learn to see what he sees.
I knew Josh's record from when he was on IP. He did all the stuff he does now back on that site last year for free. He made me a lot of money back then as you can see in some of my archives from 2006. And he is truly an expert who follows CANSLIM and has been doing it since before 1999, so he has seen a lot more market conditions than I have and made good money through them all.
So far, I am very happy. As this rally has started to get long-in-the-tooth, I am not panicking and wondering what might happen next and trying to figure out when to start bailing on my stocks. I am letting the market and the charts of my stocks tell me what they are doing.
I will try to post more. At least to do a monthly review, maybe weekly. This is a good place for me to collect my thoughts so I can go back and look at where I've been and how I'm progressing.
Friday, October 19, 2007
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