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

Tuesday, May 16, 2006

Trading Failures

Once again nothing worked for me today. I bought 20 shares of Energy Conversion Devices (ENER) on early strength and had a small paper profit for a few hours, but it faded with the markets and the price of oil, and I wound up selling for no gain. It was an entirely subjective call not to ride it any longer.

I also bought 20 shares of MEMC Electronic Materials (WFR) on early strength at $44.07. The stock promptly headed down and closed at $41.22. This was its sixth straight daily drop on steadily increasing volume. I'm being more patient with it because I have a good paper profit on 50 shares bought earlier.

Posted at 12:30 a.m. Eastern time.

posted by Houyhnhnm | 8:51 PM

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