I am no longer, no matter what the story, how good it sounds, what rumours are milling, going to invest in stock of a company that doesn't at least, bare minimum, have proven pounds of some resource in the ground. NEW RULE!! AHHAHAHAHAHAH!!

Does this seem silly, or do other people follow this rule. I realize it will limit my investing, but it should also limit my risk (to the downside and possibly upside, but definetly to the downside). Every "good" story I get into seems to head south 40, 50, 60, 70% in the matter of days, or weeks.

I need a new strategy. I have 5 huge losers and no winners, and a binder full of pages of trades. I would like to hear if any other traders, or investors have adopted a rule like this, or something like it, to make sure I have not gone totally nuts. Feedback appreciated.

Ryan