The Shark Tank: The Art of Selling

 | Mar 08, 2012 | 4:30 PM EST  | Comments
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The comments section of James "Rev Shark" DePorre's column is an open and active forum where subscribers exchange investment ideas and tips. Here's a sample of what they shared today:

Julio 12:24 PM

I think a major problem with stock pickers, gurus, etc. is the often unspecified time frame. That could really whack a "Buy and Hold" type who is just trying to start trading a bit but is unaware of the style.

ultraphoenix 12:26 PM

I remember reading years and years ago when I first started this endeavor that one can read and follow many and any on a stock and or market recommendation. Once you enter a position, it's yours you own it. You have to make your own determination as to why you entered the position, and don't look to the same person who recommended it to get you out of it. Even if you don't have a clear cut reason on entry, you better have one for the exit.

Revshark 12:28 PM

Julio that is very true. Time frames are not typically communicated very well. I have stocks that i trade intra-day and i have stocks i hold for months. Most of the time i'll trade a stock in multiple time frames. I've been holding MITK for a long time but i also traded it intraday today.

ultraphoenix 12:47 PM

We all throw out stocks, options, etfs, etns, whatever here. We point out the set up, the news or whatever. We look, we assess, then we judge them to be good entries or not.

Once you enter, you own it. If you're then just sitting there  ... and wait for someone to tell you when to take profit or loss, then you are brain dead and should be working for the government.

This is a self-directed endeavor.

Alex 12:55 PM

Ultraphoenix- I understand, but the Hardest part is knowing when to SELL a position ... not just buying it

ultraphoenix in reply to Alex

Selling is far more important than buying. And harder to master.

ultraphoenix 01:00 PM

I'm still in training when it comes to selling - and will probably always be in training. I don't expect to master it - just be good enough not to self-destruct LOL

Revshark 01:02 PM

I always sell too early.

Otto4 in reply to Revshark

I tend to sell too early too. I have been playing LNG and CLNE all year and keep buying them back higher. It's just risk management. Both make no money and are fueled by their 'story'. Longer term longs like CAT and TEX I tend to hold because of their solid fundies, but the drawdowns in them since Tuesday is no fun. Different stocks, different betas, different holding periods. I like to sell though ... it's refreshing.

ultraphoenix 01:04 PM

Better to be too early than too late - such as in a lot of things in life.

The only thing you don't want to be too early for is your own funeral.

Revshark 01:10 PM

I have no qualms about buying back a stock at a higher price if i sell too early. I know some people really hate to do that but I just see it as a totally new trade.

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