Hello Friends! Thanks so much for stopping by and visiting my blog, Stock Picks Bob's Advice! As always, please remember that I am an amateur investor so please remember to consult with your professional investment advisers prior to making any investment decisions based on information on this website.
I received a nice letter from a new reader this morning and I hope he doesn't mind me answering him right on the website.
Ed A. wrote:
Just signed onto your blog for the first time. My first impression is one of admiration for the work you have been doing. I do need to spend some more time looking at your past work more thoroughly as well as running bye what other "stock" blogs are doing.This is merely a quick email to comment on the timing of your MTOX buy. The way I technically look at stocks, this timing looks good although I would not be surprised to see a bit of price chopiness as this stock gathers momentum for moving up. My favorite timing is when a stock is on a nice uptrend but not quite so extended such as MTOX was at the start of 3/07.Ed A."
When I buy stocks with strong daily momentum, I am hoping that the momentum will continue at least a while longer after my purchase so that the stock doesn't immediately retrace its move higher and leave me selling the stock prematurely. In general this has been a successful approach. After getting a bit of a gain, I have a bit more buffer between me and my sale of my holding. I generally can rest better with a stock at that point.