A long look back.
It all began with...
SNDK: Back a long time ago, I was in and out of Sandisk when it was trading around $4 or so a share. The reasons I got interested were I had bought a Sony digital camera. It came with a 2 mb SNDK memory stick. I knew I would have to have more, and my wife all but demanded it.
The next step up was a 4mb stick. This was top of the line at the time. I noticed that Sandisk was the dominant one sold at my local Best Buy, and it wasn't cheap. Like $89.00 or so. I would work overtime to pay for it.
I did what DD there was on SNDK, not a lot at the time, and checked the stock price. $4.00/share and volitile. Perfect for my trading ways. I made a little money trading with it, and toyed with the idea of buying a few shares and holding. As a day trader this went way against my training, so I looked for a reason not to buy and hold. Well, I read an article of which I have long forgot who wrote about how Sony also produced memory sticks, and could make them much cheaper than SNDK. The article went on to say that Sandisk as a company would be crushed by Sony. I quickly sold all my SNDK stock and never looked back. I just went long SNDK again on 10/29/09 at $21.62/share. I missed it once, won't happen again.
PNLK: Pro Net Link. This was a penny stock trade. Again, years ago. PNLK was a business to business (peer to peer) software company that was going to make all it's investors gabillionares. They had a Grand Company Launch party in New York with many well placed people. I lost mucho trading $ with this. A caveat though was my trade cost was $14.00 in and out. Easy. If your interested in how easy it is to be mislead while doing very diligent DD, PNLK is sitll a topic at certain searched sites along with some judicial scolding.
As a trader, I could care less about a stock. I just seek the range. Highs and Lows. That's the bread basket. As a long, I buy management.
A good stock, a bad stock. There have been many of both.
I would like to stop here as the sun is setting and I have a bar to tend. It's my bar, and I'm a patron. I see I have Mount Gay on sale. What a blessing. And oh, my wife has a new 128gb memory stick. SNDK of course.
Have we talked about her phone?
A long look back.