As we continue rolling out more profiles, we're getting better insights into the players behind the game. Today, we talk to David Cannata, aka combat3000, about the stocks he's played, the sectors he's watching and his plans should he win.
As of Thursday, he had racked up a 100% return, so these comments merit some attention.
What stock names have provided your biggest wins thus far?
I haven't really had one true "big winner" as of yet, but a couple symbols that have helped me along nicely were
Can you share some of the stocks that are on your Watch List for thegame?
I currently have about 130 stocks on all my Watch Lists (yes, I have quite a few!), so I'm looking at many stocks all the time; when I see or hear a name that could move, I tend to go into the whole sector for a look. Right now the hot money seems to be in metals, miners, energy (the drillers) and biotech.
What's your style of investing? Are you daytrading, or makinglonger-term picks?
I do mostly all daytrading at the moment. The volatility in some of the names out there makes it very exciting to be "in the game," and I have absolutely no aversion to risk! But because of the time delay in the execution of the trades, it makes it tricky to get just the right buy or sell price. I am looking at a couple of names to keep in a longer term vein to couple with my daytraded names.
How do you research your picks? Do you primarily use fundamental ortechnical analysis?
For research, I use both technical analysis and fundamentals (yes, Jim Cramer, I
doing the homework!). When hearing about a stock, I always go into the news on the stock, check the chart going back about six to 12 months, look at the financials, see what the analysts are saying and how others in the sector are doing. Of course I sprinkle a little luck in there sometimes, too.
Do you primarily trade on the long or short side? Any stocks thathave been particularly fruitful on either side? Or both?
I am very bullish on the market as a whole, but I have made my money on both the long and short side. I bought and sold and shorted a lot of names since the game started, so no one name comes to mind, but I do have to say that some of those small-cap biotechs that have had a quick run-up in price are just begging to be shorted!
If you win, what will you do with the $100,000? What would youdiscuss with Jim?
First of all, I would use some of the money to help my daughter further her college education, and maybe buy myself a little something as kind of validation for all the time and effort put in on this very weary laptop, and then I would put the rest into my online broker account. I would like to ask Cramer what makes these "analysts" out there take companies that report good quarters and then nitpick the numbers to death just to find the most miniscule thing wrong. Oh, and then I'd ask him to be my personal money manager.
What's the best investing advice you've ever received? The worst?
The best advice I've gotten is to not just jump into a stock without doing the homework, have an enter/exit strategy, and to
! I'm still trying to work on that last one! I really haven't had any worst advice, except that I tried a few suggestions I'd heard and I'd like to maybe impart a little painful wisdom to anyone who wants to listen: Don't buy any stock before earnings!