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The Wet Seal. A Perfect First Choice For The POS Portfolio

|Includes: The Wet Seal, Inc. (WTSL)

There are a few authors here at Seeking Alpha who seem to have a knack for finding value and quality investments and trades. And despite the masses who have profiles claiming they are professionals yet post under silly monikers posting on our message boards that we need to perform our own due diligence when we compliment one of the few who actually know that they're doing here and piggyback their trades, piggybacking the trades of an Ocean Man or other frequent trader can cause plenty of agony as they have lives. They can't always post in real time what they're doing. Plus, we all have lives and may miss a buy or sell.

Given that my performance last year pretty well sucked even though I was looking for value. I've come to the conclusion that value investing doesn't work for me. Despite all the due diligence we do a stock price is liable to change at any time due to news that was released a short time after we bought or sold. And companies are going to promote their stock price and hype any good news. One constant is companies that use Marketwire to promote themselves probably suck. With this in mind I have decided to focus $5000 of my money to what I am calling the POS Portfolio. I'm looking for the jive turkeys that have no good reason to do anything in the belief that the ones I had last year that were supposed to be fine stunk it up.

There were plenty of companies to choose from as my first buy for the POS Portfolio. $MCP, Molycorp was high on the list but after losing 3 grand on it last year I figured I'd been subject to enough of it's stink. Then I came upon $WTSL. The Wet Seal. What a lousy name. Big debt. Makes no money. Just a real POS. So I bought 1,000 shares. I have no price target for it. If it goes up I will sell it quick. It goes down I'll wait for it to go back up or go bankrupt which is a real possibility. The company is a POS.

Disclosure: I am long WTSL.

Additional disclosure: Buy or sell at your own risk. I only give my reasons for buying or selling. Your decisions are your own fault.