Katana - agree 100% with your thoughts and I pretty much trade exactly the same way you've described and usually with around $30-$50k on a trade, depending on which stock it is etc.
I always try to pick a stock in an uptrend as usually it continues to trade upwards. However, at times I do target oversold stocks with quality fundamentals and I have done well with those on the rebounds etc (like TMR a couple times).
At the moment Cash is King but I am very tempted as there are a HEAPS of bargains out there but I will take my time.
If TMR looks like breaking out of 17c+ in the morning, I'll get on 100%. I also like SRK which is highly undervalued imho and another great medium-long term trade (good things happening with that one as well)!!!
Katana - agree 100% with your thoughts and I pretty much trade...
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