mshan, I don't think you're trying to attack me, since your response was not really hostile or insulting -- I appreciate it.
Azurik -- my strategy is basically this: I follow a number of companies in an industry that I know pretty well from both a technical standpoint and from the standpoint of someone who builds PCs/recommends them to people. So this pretty much narrows my hit list to semiconductors involved in PC stuff.
From there, I take a look at price to earnings ratios, the balance sheet, etc. and I try to determine whether I think the company I'm looking at is over or under priced. I also try to study their chart and see what kinds of factors seem to affect the stock price. For example, I had a lot of success trading AMD in the past year because I had a pretty solid sense of how they react to stuff and I have a lot of faith in their ability to smash the low ball earnings estimates they set (and guess what? they've beaten every quarter that I've played them). I also have a sense of what macro-economic factors affect them, so I try to buy in after really hard dips and sell/short whenever I see a way too abrupt run-up.
In fact, contrary to lothar's statement, I usually buy the stocks that are BEATEN UP. Whenever people declare the death of PC gaming, discrete graphics, the PC, how tablets will rule them all, etc. I usually get some nice dips on my PC component stocks. I buy things that everyone else is thinking is going to die for, what I feel, are irrational reasons.
I generally don't like PE's that are high. I generally don't like too much debt. I generally don't like stocks that miss earnings a lot. But whatever, man. I never came here to attack anybody, and I don't at all mind calm/non-aggressive posts like mshan's.
I might not have a disciplined strategy, but here are a number of the trades I've done in the past 6 or so months:
BUY AMD @ $8.02 ( Their P/E is still quite low, their graphics tech is very strong, their CPU stuff is getting better, and I think with Fusion, they'll make a strong name for themselves with the APUs. Also, they seem to be making strides in the server market, but I think it'll be a little while before they'll claw away Intel's share there).
BUY AMD @ $5.00 avg cost - SELL @ $6.73
SHORT AMD @
BUY OCZ @ 6.83 - SELL @ 7.24 (I just put in these limit orders, and miraculously they both filled within 10 mins of each other the other day. )
BUY INTC @ 19 - SELL @ 24.50 (I just wanted to take some profits...mistake)
BUY INTC @ 27.80 (planning on just holding because it's just...at an 11 P/E, killer earnings growth, and strong product
BUY NVDA @ $14.385 (avg) - SELL @ 15.20 <---- Bought post Kepler launch
BUY NVDA @ $15.5 (avg) - SELL @ 16.47 <---- Bought @ 16 pre earnings, added to position by buying @ $15 in an after market dip, and then selling during a crazy run up the next day.
BUY BAC @ 6.20 - SELL @ 5.85 ( this was more like a gamble that I just didn't have the stomach for...)
BUY AMZN @ $176 - SELL @ 193 (near a 52 week low, solid company with aggressive management -- definitely worth a risk near the 52wk low)
BUY AEP @ 38.11 (planning on just holding for the nice dividend & nice dividend -- bought it on a dip)
BUY MRVL @ $15.40 - SELL @ $14.90 (needed to free up the capital for another opportunity)
BUY EA @ $17.11 (avg) - SELL @ $17.40 (again, wanted to free up capital)
BUY AMAT @ $12.24 (avg) - SELL @ $12.39
BUY MU @ 7.99 (I think there's a lot of long term upside here, but it's a solid risk, too)