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Hi All:
Again I try not to spam.
This is what happened in real life to me.
I have been subscribing to the Pitbull service (Mr. Henry Ford) since 1996
- an excellent service. (By the way, I got his address and phone # from
TASC - and I think it's a darned good magazine, if one is selective.)
I remember in Aug or Sep 96, I received a fax update recommending XRX
(amongst many other stocks).
What was interesting was Mr. Ford mentioned that stock could double within
the next few years. He said "Go back to about 30 years, and look at the
monthly chart, and you will see a U-shape" (or a cup shape - we had posts
on this "cup" formation before). At the time the stock (before split) was
around $67 - near multi-year high then. I was very impressed and phoned
Mr. Ford, asked him if he had a misprint or not. He said no, and said the
duration of doubling in price could be from 1 to 2 years.
I did some research myself, and within the next week I bought some XRX
leaps. It went up some. And then after a week or so, XRX came out with a
bad earnings report, and the stock dropped about $10. My leaps lost almost
50% just within a day.
I phoned up Mr. Ford, and asked if he changed his opinion or not. He said
no, but then the predicted price rise would be stretched to 1 1/2 years to
3 years.
I did more technical analysis, and decided to average down. I bought a lot
more.
This is from my 1997 tax return on the XRX leaps trade:
Cash purchase $5692
Cash sale $23317
Capital gain $17625
First bought 96-10-11. Last sold 97-10-16.
I am forever grateful to Mr. Ford!!!
I'm not trying to boast. Since then I recieved many good recommendations.
(Of course there were many bad ones as well. I would put the blame on
myself for not doing adequate research if I lost.) Some I acted on, and
made money. Some I didn't, and I kicked myself. (For example, a high
school classmate of mine works for a big company. He asked me to look at
his company last Dec, when the stock is below $50. Now it's over $150.
Unfortunately, I didn't do anything. If I had bought the leaps <this stock
happens to have leaps traded>... well, that's hindsight.)
Again, I must stress I also bought a lot of options (leaps and normal
calls) in which I get totally wiped out. Rather than blaming others, I
would say I haven't done adequate research myself, or I'm being too greedy
or....
How I wish I could receive good stock information (not necessarily
spamming, mind you) and then do research on my own later on! That's why I
feel it could be a benefit to a lot of us if we have serious stock
discussion (again, not spamming) amongst us.
About the medical stock mentioned by the doctor a while back, I did
privately write to him. I think he's very honest and he really tries to
help, being quite objective. No, I haven't bought the stock yet. I took a
look at the weekly chart at the time and felt that it had already gone up a
lot, and I would rather buy it at a lower price. (Remember a few years
back - it might be around Dec 98 - when OMGA traded above $1, and I posted
and mentioned I would like to buy it at $0.75? Well, it never did go that
low, just as GUMM didn't go to my desired level.) I'm grateful he helped
me out, though I didn't do anything.
I still hope a lot of the members here will be receptive to the idea of
some commonsense and objective discussion about stocks (no spamming).
Until the time I receive warning from moderators, I would possibly post
some messages from time to time about stocks. Again, I must stress that
whoever is reading the post should do his/her own research....
Regards,
Wong
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At 10:42 PM 11/03/99 -0500, Bert wrote:
>I like your ideas, but I think they are for another list.
>Even though we go astray here sometimes, the purpose is to stay up
>to date with Omega products and have an alternate independent source
>of information about the products. I have always found the folks
>willing to help even when I disagree with a point of view. After all
>everyone is entitled to an opinion.
>Just my $.02,
>Bert.
>
>
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