Best Stocks To Buy Right Now Update

June 7, 2011
By

The high tight flag trading system seems to not work as effectively as it once did. I still believe it is a perfectly acceptable way to trade, but it requires being very quick to take profits. Additionally, there are a few concerns of mine.
1)That by the time the best stocks to buy are at good buy points, only a very select few will be able to buy them at the correct point. As I stressed before, they require anticipation. The stocks that do best get over extended quickly
2)That people won’t buy at the proper breakout price and will buy too soon before a confirmed breakout.
3)That some people will buy too late after it’s already extended.
4)That people will find that page having never read this site before, and neglect to use rules, including a good exit strategy.
5)That perhaps I overestimated high tight flags as a pattern due to my initial success in HDY, TZOO and APL, and shouldn’t trade them on technicals alone unless I can come up with more adaptive rules that are still simple enough to follow. I am finding HTF set ups easily… Possibly too easily. Perhaps for example, I need to wait until I can find a HTF that passes fundamental criteria, that also is in an industry that also has other stocks breaking out, using more of William O’Neil’s criteria.

Additionally I don’t like the idea of updating a never ending page. I mean what if I have commentary and picks for every 3 weeks for several years? The page would appear cluttered and the value of the message will be lost.

Going forward
In the future I will send those people who are actually willing to do the due diligence to the flag trading system series of posts, and for those looking for the best stocks to buy, I will come up with a list that is more for long term investors which I will also create on a new page. I will need to update the flag trading system selection criteria to include other factors as I am relying a little too heavily on technical analysis (actually even that is simplified to just chart patterns) of the individual stock.

More than likely the people looking for “the best stocks to buy” aren’t looking for a methodology, but instead a hot stock tip, which I have advised against following. Will many of them have the general discipline to trade these correctly? I don’t know, I would assume not.

As such from now on I will be ending the post on the best stocks to buy right now, and will instead add some insight into the methodology and trading system, link to how you might find it (through high tight flags), and create a new page based on the best stocks to buy for the long term, and at what price (or lower).

Comments are closed.



If you just want to just give someone the url, you can just copy the following
Social
If you want to share this post with others through various social networks you can follow the links below.

Share on Facebook
Digg It
Stumble upon it
Add to delicious
Tweet this
Share on technorati