eureka report, page-43

That's a good point chumps. I basically agree, but there are ALWAYS extenuating circumstances, when it involves the sharemarket.

Short term trading is stressful, no doubt, and it virtually comes down to a 50/50 chance of having made the right decision, at the right time, and in the right direction.
Of course, there are always those wonderful exceptions that stand out so obviously as far as good trades go, and beg for you to do something.

A buy, hold and forget strategy works well for bluechips and allows you to concentrate on other things in life.

But doing it with specs could be really expensive because when you finally return to check your portfolio - "argghhhh"! - what the f@rk happened there?

You find out that your set and forget BHP clone that you just couldn't go wrong with and that you poured $100ks into has made a shocker of an announcement and they are in a trading halt and most likely about to be suspended, never to return.

What sort of bad news announcement could have caused your next BHP or RIO to end up in that situation, - any number!

Regardless of whether you are a trader, or a long term investor, if you deal with specs and you are not vigilant and don't scrutinize your holdings very regularly, you could be heading for trouble.
Being a trader of specs makes you a little more vigilant but not necessarily safer or more profitable.

GBG is far less of a spec now because we know Ansteel want all the ore they can get their hands on and they want it as soon as possible. Both the Chinese gov't and the Austarlian gov't want to see that happen.
And since Ansteel have all the clout, all the money, and all the ability to borrow, they will eventually get what they want, which is totally good news for GBG shareholders whether traders or holders!