Louetta's Lore

[skiracer]

I've mellowed with age (22). I see you got into SIM ahead of Poormans. It was his stock of the week on July 27. I am about 70% in cash. Moved up to 62% in equities 7-10 days ago but chickened out and dropped back.

Thank you for the several welcomes.

Are you still posting at the IBD forums or have you let the subscription expire? I can't imagine what it has progressed or transgressed into over the last couple of years. I remember how Ernie an I would go at it over there. Our relationship certainly has evolved for the positive over the last couple of years since I've come over here. This is a decent group of people and the give and take is equitable on everyone's part. Geez you're really getting old. You're not confined to a walker yet are you?

[jiesen]

Welcome, Louetta! As Mimo said, you've made a wise decision to join us here at $$MM's. I'm sure we'll all gain from your participation in the group.

[JohnHenry]

Louetta

Welcome Louetta

[Lyehopper]

Where's Louetta?

Everyone's posting here but you Louetta.... btw, Is the "e" pronounced long or short in your name?

[Louetta]

Everyone's posting here but you Louetta.... btw, Is the "e" pronounced long or short in your name?

Still haven't figured out whether that's a serious question. If it is, its pronounced like Loretta except it starts off Lou.

I'm still in the IBD forums. Haven't posted much there lately. Till I get more fully invested don't think I'll post much here. There is one interesting options discussion going over there about strangles and such. Beyond that except for Poormans there's little worth reading. People are talking more and more about short plays which is probably a sign the market is bottoming. When things get better I'll probably piggyback on Poormans picks and do some covered calls based on the The Little Book That Beats The Market picks. That was working pretty well in the winter and Spring up till April expiration.

[skiracer]

Still haven't figured out whether that's a serious question. If it is, its pronounced like Loretta except it starts off Lou.

I'm still in the IBD forums. Haven't posted much there lately. Till I get more fully invested don't think I'll post much here. There is one interesting options discussion going over there about strangles and such. Beyond that except for Poormans there's little worth reading. People are talking more and more about short plays which is probably a sign the market is bottoming. When things get better I'll probably piggyback on Poormans picks and do some covered calls based on the The Little Book That Beats The Market picks. That was working pretty well in the winter and Spring up till April expiration.

You have come a long way with Bruce from where you two started. I've always thought he was good and very well structured. There is no need to jump into putting up picks or setups right off the bat. But your thoughts on the markets and whatever else is on your mind regarding your latest trading strategies would be nice. No big deal one way or another.

[mrmarket]

I've always thought that Poormans was a good stock picker.

[Lyehopper]

Still haven't figured out whether that's a serious question. If it is, its pronounced like Loretta except it starts off Lou.

That would be a short "e" then....

[IIC]

Still haven't figured out whether that's a serious question. If it is, its pronounced like Loretta except it starts off Lou.

I'm still in the IBD forums. Haven't posted much there lately. Till I get more fully invested don't think I'll post much here. There is one interesting options discussion going over there about strangles and such. Beyond that except for Poormans there's little worth reading. People are talking more and more about short plays which is probably a sign the market is bottoming. When things get better I'll probably piggyback on Poormans picks and do some covered calls based on the The Little Book That Beats The Market picks. That was working pretty well in the winter and Spring up till April expiration.

To be honest...There has never been much worth reading over there at IBD Forums...Sure, there is the periodic sharpie who comes in and then either gets bored or booted...And yes...there are a VERY few decent investors who try to stick it out. But IBD Forums is a marketing tool for Blind Sheep...Like Joe & Jane Canslim...who don't know any better.

IBD should hire a Moderator to guide the Forum...But they never will...The whole place is pretty sad IMO and I feel bad for the majority of the members who are living in LALA Land.

I actually feel bad for Bruce too...He is an honest and upfront guy...Why would they want to charge him $1200 a yr just to post the Smart Investor article they ran about him a couple of yrs ago on his site???

I went thru the pre-interview for that column...LOL...After what I had to say it was a sure bet that I wouldn't be featured.

I think it is wise to take what you learned from IBD and take that knowledge with you when you get to the REAL world.

This post is not really directed at you as from what I've heard you are pretty sharp yourself...It is directed at those mindless CANSLIM drones that don't know their CAN from their SLIM...Doug(IIC)

[Louetta]

I've always thought that Poormans was a good stock picker.

I think he's an excellent stock picker. When I have money in the markets I always have a good part of it in his stocks. I do think he could manage his money better (I've said this where he can read it). E.g. he's stayed fully invested all during this weak period.

[IIC]

I think he's an excellent stock picker. When I have money in the markets I always have a good part of it in his stocks. I do think he could manage his money better (I've said this where he can read it). E.g. he's stayed fully invested all during this weak period.

Well...he sold at least one thing today...Here's a quote from my chat room today:

Aug 02, 12:40 pmpoormanjust took 280% gain in one account for NSS from 2004 buy.

[Louetta]

You have come a long way with Bruce from where you two started. I've always thought he was good and very well structured. There is no need to jump into putting up picks or setups right off the bat. But your thoughts on the markets and whatever else is on your mind regarding your latest trading strategies would be nice. No big deal one way or another.

Thru the winter I was holding many of Poormans' stocks and selling covered calls on the Little Book That Beats The Market stocks. I backed out after the April expiration because interest rates were moving up thru 5% and oil thru $70. I've tried twice since May 1 to get back into the market (long I mean) and got burned each time. Right now I wouldn't be surprised if it's October before it looks good to buy (the year end seasonal pattern). Then I'll go back to last winter's strategies. I'd like to find a strategy I can use to make a few bucks regardless of the prevailing trends. Made a little bit trading QQQQ options but its hard with the one day up next day down action. I'm interested in the IBD options thread discussing strangles but it looks like you need a basic stock in a bullish trend to make it work. Right now I figure the odds favor a down move more than an up move.

[skiracer]

Thru the winter I was holding many of Poormans' stocks and selling covered calls on the Little Book That Beats The Market stocks. I backed out after the April expiration because interest rates were moving up thru 5% and oil thru $70. I've tried twice since May 1 to get back into the market (long I mean) and got burned each time. Right now I wouldn't be surprised if it's October before it looks good to buy (the year end seasonal pattern). Then I'll go back to last winter's strategies. I'd like to find a strategy I can use to make a few bucks regardless of the prevailing trends. Made a little bit trading QQQQ options but its hard with the one day up next day down action. I'm interested in the IBD options thread discussing strangles but it looks like you need a basic stock in a bullish trend to make it work. Right now I figure the odds favor a down move more than an up move.

It's always easier if there is an identifiable trend in either direction, but there are stocks that will make good setups at times when there isn't a clearly defined trend. Finding them is the hard part and managing the trade is even harder. Lots of good ideas on playable stocks to be found everyday here. I can appreciate staying safely in cash. Have you been trading any ETF's? I like them when the markets get like this. Easier to identify an play a sector at times like this.

[IIC]

Right now I wouldn't be surprised if it's October before it looks good to buy (the year end seasonal pattern).

What Year-End Seasonal Pattern?...Records were made to be broken...71% of the time since the Naz Comp. inception we have closed up Sept. close vis-a-vis Dec. close...But it was not always like that in the mkts...What did WON say..."History never changes"?...How soon we forget.

[Gatorman]

Welcome Louetta to the forum. I, too, remember seeing some of your posts over at IBD when I was a member. I think you will be glad to see none of the vitriole that was so prevalent at IBD. That is not saying there is not sometimes a spirited defense of positions held, method employed and market views but the intent is not lost in self-serving attacks.
The POTW is a nice place to enjoy a weekly contest while you are waiting to re-enter the market.
From my recollection of your other forum posts,it is hard to believe that you are only 22. Most of us over here are, shall we say, a bit more seasoned.