Trading isn’t what I do.. obviously
There was a time when I was a successful trader. I made successful trades, predicted with some accuracy the direction of a stock, and made a decent profit. That was in another lifetime though, before wild fits controlled the market and stocks.
Now I feel as though I’m only wrong, and I gotta tell you, I think it sucks. Take BIDU, please.
BIDU went up something outrageous today because GOOG didn’t drop. WTF? That’s stupid is what stupid does type of thinking. Maybe I should stop giving away my money trading and instead start some successful website ring. I could sell dirty movies or something.
JCP dropped, barely. Why not a big drop? Probably because of those Docker’s deals where they were giving away airline tickets. It’s not that the company is doing anything good. It’s not because the housing market is now turning around. Not becaus the US Dollar is showing signs of strength.
I’m pretty sure that if I hold onto the positions I currently have, I will have a nearly worthless account by the third Friday in March. And because I’m not a quitter and don’t give up, I’m going to leave all my current positions until they are profitable or they are worthless.
Retard Trader goes broke. That’s what headline I’ll be posting on Mach 21st, when the options expire and I’m left with only a few calls in FXI and 1,000 shares of SNUS.
One thing is for sure though, I’ll still be attacking other bloggers on a professional and personal level until the time I’m broke, and long after that too. Unfortunately for you bloggers, I have a full-time job that is so damn easy I have time during the day to write stuff about you. Of course, I’m not the one that pulls the strings around here.. I’m just a hired hitman.
Posted By: Michael
News Category: BIDU, FXI, JCP, SNUS, blog war
4 Responses to “Trading isn’t what I do.. obviously”
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Although I’ve known a bit about the mechanics of trading for a few years (Dad was a daytrader… til 2001) I just started actively trading 2 or 3 times a week in October so I agree with you concerning the market being difficult right now. When I did my taxes, I learned that my p/l% was -9ish. As of right now, I’m up 13.55% according to scottrade but even that number is mostly due to a penny stock trade I shamefully indulged in (despite the outcome.) What is the main criteria you look at to find trades you think you’d like to get into?
There are about 30-50 stocks that I watch with some sort of regularity. I watch for trending and key market changes. Usually I’m smart enough to let this information guide my trading patterns, but recently I’ve been forcing it more than just waiting for something to happen. The problem is actually this blog… I know that readers are interested in reading action, so I take action even when I’m not sure about it.
If you check out enough pages here, you’ll see that I’ve actually used a coin flip in order to decide which side to take on a trade (calls or puts).
During my not-as-much-of-a-retard times, I use news leaks and insider information when playing earnings. Though not always accurate, most of the time I know the earnings information ahead of time but unfortunately I don’t know the market’s reaction to the information.
Penny stock trading is great fun at times. I’ve made some money and lost some money on penny stocks, and in a Scottrade account of mine I have over 10,000,000 shares of stock. I only wish that was 10,000,000 shares of GS or GOOG or AAPL, not some unknown companies like ADOT, CHMD, PYTM, and CPPC. But a couple hits on a penny (or sub-penny) stock is all it takes to be Tim Sykes the psychic detective of investing.
To get on with what I watch, it’s mostly companies that have some history and follow basic logic at most times. Like now, GS might have gone up today but since the current rumor is they will be announcing their lowest earnings in years (and ever), the stock might take a hit. Of course, with JCP announcing they suck but might not suck much more, their stock went up (bastards).
I’m pretty sure that I rambled more than answered your question. Maybe I said something that made sense though.
i forgot all about the patented coin flip
I think that I might have to employ the coin, it worked for so long that I started to think I knew what I was doing and stopped giving credit where it was due.
I couldn’t have done worse using the coin.