An Investor's Goal
I like to invest. I am very bad at trading (mainly because I am spineless and pull the trigger too soon). I was always like that at the casinos too. If I ONLY I let it ride one more hand. I started playing the market end of March. My plan was to invest mostly in high dividend paying stocks (minimum 3%) with 5 year capital appreciation potential. I figured no matter how the market went in the short term I was still pulling in those dividends. So off I went trying to build a portfolio. Most of my picks here I own (some I don't but I wanted). Every pick I have made I believe in (I am not interested in "winning" any ratings game here). I accept the fact that I will not be right 100 pct of the time. I try to think in terms of 5 years from now. That ain't easy.
I watched all the economic shows. It became somewhat humorous watching them daily. Commodities control, doom and gloom. Next day commodities bubble, financials rule. Next day oil rules financials in deep trouble. Lately I started watching ESPN and Monk.
In addition to my dividend strategy I bought some nondividend paying stocks with high betas that I believe will continue to rise over time with the express purpose of writing calls off of. I always write calls off the stocks I own for prices way above my cost. I figure if the stock gets called away I made a profit off the stock and I got to keep the call premium to boot and if they didn't get called away I keep the premium and rinse repeat (Agu and Mos have been working great so far for me).
I think my strategy should work over time, and I think it should work bear or bull market, but when you have a rough week like last week with the Dow dropping 500 points and you see all those "reds" in your daily portfolio panic seeps in.
I can't short stocks. I am a bull in nature. I prefer rooting "for" as opposed to rooting "against." Personality quirck I suppose. I'm just curious how people would classify themselves, namely as "investors" (looking at the long run) or traders (churn those profits quick).