Well I think I have learned a great lesson from all this NWACing lately. The lesson is this if you care to share my new found wisdom.
* NEVER put money on pure speculation. Its okay to take risks and I will continue to do so. But buying a down stock thinking you think you know whats going on and speculating huge gains is a big mistake.
* Don't catch a falling knife. If a stock begins to fall heavily, get out of its way. Don't keep buying thinking you're lowering your average. That only works with stable blue chips that fall a fraction of a percent here and there.
* Don't be afraid to sell low. No matter how much your losses are don't mistake them for a complete loss. Getting out with your head slightly above water shows discipline.
With all that said. Recommendations for today are two of Jim's favorite picks of the week:
1) LF - Leap Frog , but don't buy this above 14.25
2) BSC - BEAR STEARNS - Buy this NOW!!!
And if you didn't get a chance to pick up some GOOG I'd say it might see 298 again sometime soon. Probably tomorrow.
Happy trading.
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