Seeking Alpha
  • Ocean Man
    Suggested buying the dip on MHR earlier this month. One could've sold that for a 30% gain today. http://seekingalpha.com/s/6g1fn
    8/28/12
    Reply (43)
    • Ocean Man: I've taken some gains on that one already, but still holding a position.
      8/28/12
    • binder: how do you pick your stocks... do you trade the same ones generally?
      8/28/12
    • Ocean Man: I have a bunch that I know well. Try to notice when one has dropped more than it should.
      8/28/12
    • Perkins Cove: "I have a bunch that I know well". "Simplify, simplify, simplify" -Thoreau
      8/28/12
    • sean.parmelee: binder, you may be interested in finviz.com's screener.
      8/28/12
    • sean.parmelee: Very easy to say, I want a stock yielding 7% or higher, down 30% or more from its 52-week high, with a market cap above 100MM, etc.
      8/28/12
    • Perkins Cove: Agreed sean. But one must know the right parameters. Or simply go to the oldfields and observe, as OM does. Beats screening in my book.
      8/28/12
    • Ocean Man: Bildar - I haven't owned ALSK since 2011. I did correctly predict a short squeeze on it back in Feb / March and noted that I didn't own it.
      8/28/12
    • bothead: I caught that discussion last night which was deleted.
      8/29/12
    • bothead: You bought ALSK on 11/9/11, and indicated that you would hold it awhile. You don't use stops.
      8/29/12
    • bothead: After a little bounce, it dropped 50% in 2 months. You never posted a sale, which you always do if there is a profit.
      8/29/12
    • bothead: My conclusion: You sold it at a loss and never posted the trade, or you still own it.
      8/29/12
    • Ocean Man: I only started posting at SA in the 2nd half of 2011. Mostly just posted ideas last year, figured people could take gains / set stops as
      8/29/12
    • Ocean Man: they saw fit. Got a lot of requests this year to post exit prices and rationale, so now I've added that.
      8/29/12
    • Ocean Man: Let me check my records from last year to see how I did on ALSK.
      8/29/12
    • bothead: Not true. Here's an example of a posted sell from 11/11/11: http://seekingalpha.com/s/1dy3p
      8/29/12
    • Ocean Man: Looks like I sold 1/3 up 4.5%, 1/3 up 1%, (late Nov) and the last 1/3 down 11% (mid Dec). 2% loss overall. You might remember the S&P
      8/29/12
    • Ocean Man: dropping 100 points in late Nov and then gaining back 100 points in mid Dec, so I'm not surprised my focus was diverted from ALSK sells.
      8/29/12
    • Ocean Man: Also, I only had 13 followers back then, I doubt anybody cared what I was doing with ALSK during those 100-point market swings.
      8/29/12
    • sean.parmelee: I'm generally supportive of holding the self-proclaimed experts here accountable for their failures as well as their successes, but let's
      8/29/12
    • sean.parmelee: not hold an inquisition over every suggestion.
      8/29/12
    • Ocean Man: I didn't say I didn't post any sells last year. When I joined the board it was more of a rah-rah celebrate your wins type atmosphere. You'd
      8/29/12
    • Ocean Man: post a winner and if someone else was in on that one they'd post "me too". It was kind of like a place to give high fives. I just played
      8/29/12
    • Ocean Man: along until I gained a following and some respect, then set about to make it better. More of an experienced people helping new people type
      8/29/12
    • Ocean Man: atmosphere, more transparency, more entry and exit rationale, more trading style / strategy discussions (stops vs. legging in, etc.), length
      8/29/12
    • Ocean Man: of hold discussions - many readers of this board don't know a daytrade post from a post about entering a long term hold, options strategy.
      8/29/12
    • Ocean Man: I've seen many other people copying my style of Entry Price, Exit Price, Div Collected, % Gain, Length of Hold type exit posts, I think
      8/29/12
    • Ocean Man: that's an improvement, nobody used to do that. Just in the past month I started linking my buy post for better transparency / proof.
      8/29/12
    • Ocean Man: That has yet to catch on, but is easy by clicking your name, then Stocktalks, then clicking the ticker symbol.
      8/30/12
    • Ocean Man: When somebody posts "sold XXX for a 20% gain" and never posted their buy, that's worthless. I have no idea if they're lying, or if that was
      8/30/12
    • Ocean Man: their 1 winning trade alongside 9 losers. I'm trying to change that, so that newbies know who to listen to and who to ignore.
      8/30/12
    • Perkins Cove: Thanks for all the info above OM, especially linking posts. I did not know how to do that. You have been a great help to me. Cheers!
      8/30/12
    • grapeswhiz: I'm one of those people who just posts a rah-rah for myself once in a while. It's fun! People would be best served ignoring me.
      8/30/12
    • Bildar: OM: In the spirit of transparency, it would be good to disclose drawndown amount with an emphasis that is equal to disclosure of profit.
      8/30/12
    • Bildar: This is important, as people have varying risk tolerances.
      8/30/12
    • fla6987: I myself followed him in 2 of the beste trades of my life KORS which i sold for roughly 32 % gain and MHR which in and out gave a net
      8/30/12
    • fla6987: Profit of 30% in 5 months... Still holding some MHR for the long run, im telling you he should be charging for his services, for now im
      8/30/12
    • fla6987: Happy for the free advice, keep them coming OM and again everyone have to due their own DD... Cheers.
      8/30/12
    • Bildar: fla: I agree with your take, but why make due diligence harder by posting a big daily gain in a stock that is way underwater?
      8/30/12
    • fla6987: Mhr you mean? I think in this case you can play around with rhe stock in my case i was adding with every dip and when it came time to take..
      8/30/12
    • fla6987: Profits i did using LIFO, i still have positions that i bought @ 5, i think the stock will move back to the 6s to 7 range.
      8/30/12
    • Bildar: I'm not referring to MHR.
      8/30/12
    • fla6987: Oh ok Bildar, my apologies.
      8/30/12