The Iconoclastic Investor

To make better than average money in the stock market you have to do something different from the average investor. You have to be an iconoclast--thinking independently and finding the approaches that work for you, not blindly following someone else's program. In this blog I'm refining my own iconoclastic and eclectic ways of thinking. I'm not trying to convert anyone to my opinions or methods--I just hope to provide a useful perspective and inspire some other investors' thinking.

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Location: Albuquerque, New Mexico, United States

Monday, May 22, 2006

Sold MEMC Electronic Materials

On Friday afternoon I forgot to post that I decided to take a tiny profit on my 50 shares of MEMC Electronic Materials (WFR). With one hour left in the session, the trend was down, and I've heard that it's a bad idea to go against the trend in the last hour, so I sold at the market. The market then immediately turned upward and finished the day with decent gains.

I still have 20 shares that I consider a long-term holding. I keep at least token holdings of a handful of stocks that I really like fundamentally because it's too difficult psychologically to watch from the sidelines and continually wonder if I should get back in.

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