I had an interesting back and forth between a reader about WMT. After I made a comment about WMT 4% plus breakout couple of days ago, this particular reader and I exchanged close to 30 emails back and forth while he tried to make up his mind about whether to enter it on not.
He had questions about why buy on 4% breakout. Will it work. But and but and but.... Now this is common thing I see many people write to me some 3 days after a stock is highlighted to ask whether they should buy now. They were apparently researching it for 3 days and are now convinced.
This is a clear indicator of lack of methodology and understanding of things. While you must analyze an opportunity, you must do it in reasonable time frame. The entry opportunities in market are ephemeral. That is why one must do all the thinking before you start trading any method.
Related to this is another problem of people trying to perfect their methods for month, but unable to transition to trading. I will have more about it sometime later.
Later: Role change