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  • Best Stocks To Buy Now

    What are the best stocks to buy right now? In short, stocks that are making money!


    The question that persists among new as well as seasoned traders is always "what are the best stocks to buy now?" I can answer that question very easily. Any stock that is going up is a good stock to buy. You don't buy junk stocks that aren't going up. A good trader/investor realizes trading and investing is not about predicting what will happen next but reacting to what is already going on. You want to put your money into stocks that are already doing good. You don't have a crystal ball but reactive trading is the next best thing.


    Never "buy the dip"

    Human nature has always made traders and investors look for "deals" when it comes to stock picking. Bargain hunting is great for Saturday flea market trips but it can be disastrous for stock picking. I hear over and over again how a trader or investor wants to buy a stock at a discount or get a bargain on the share price. That is plain old "stinkin thinkin" and can destroy your account value if you aren't careful. Why would you, for example, want to buy a stock that just went from $100/share to $50/share? That stock is showing negative momentum and is NOT a good candidate for purchase.

    Take a look at the charts for Enron, WorldCom, Yahoo, and AIG. These stocks all took initial dips that ended up NEVER recovering. Millions of investors were fooled by the "buy the dip" philosophy.

    Enron was involved in one of the biggest corporate scandals in history. Everyday investors were not privy to the scam so they were left holding the bag. Some investors even bought more shares on the way down thinking they were getting a bargain. Enron's last recorded trading price was $0.26/share. How's that for a bargain?




    WorldCom was another corporate tragedy that destroyed the lives of employees as well as shareholders. The last recorded share price was around $0.09/share before being delisted.





    Yahoo was not a corporate scam and the company itself is still in operation today but they are no longer listed on any stock exchange. Yahoo was caught up in the tech crash of 2000. When tech stocks were tanking in 2000 Yahoo was not excluded. Some investors jumped ship while others held on and still others bought more shares which turned out to be a fatal mistake. Yahoo never reached its year 2000 peak again. If you had held onto Yahoo you would have most likely lost big or saw a huge profit turn into a mediocre profit. The writing was on the wall for ALL of these stocks but investors chose to ignore warning signs.





    AIG was the most notorious stock of the 2008 financial meltdown. The chart below shows a historic rise and catastrophic fall that they never recovered from. Amazingly, the stock is still publicly traded. (2020)


















    I prefer to look for stocks that are going up. Some of the stocks I listed above were able to trick investors by "cooking" the books. In other words, they lied about how well the company was doing by fabricating performance figures in their financial statements. The Buffett types would be the ones to buy into this type of scam. If you judge a company on their own made-up fake financials you will lose. That's why a more technical approach is necessary for trading and investing. You can look at the fundamentals all day long but if you see a stock tanking you DO NOT buy it. Price is the only truly accurate indicator that will NEVER lie to you.


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    "Step into the arena and hold on to your hat. Don't get discouraged if you don't make 8 trillion dollars in your first month. Trading is not a get rich quick scheme. Realize that trading is a skill and just like any other skill it takes time to learn. Have convictions in your decisions in life and trading. Ignore the comments and "advice" of those that have never traded a day in their life."


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  • #2
    I've been burnt a few times thinking I was buying a "bargain". You could end up in a stock for years after buying a discount. Its laughable even.

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