I couldn't believe this..thought it was maybe an April Fool's joke or someone hacked into TheStreet.com's site.... but it's not funny if true.
The Chartman Suffers Enormous Trading Losses
By Gary B. Smith
Special to TheStreet.com
4/1/00 12:25 AM ET
Editor's Note: In lieu of the Technical Forum today, please read this brief message.
Dear Readers,
I never thought it would come to this. Honestly. But, due to the heavy losses I've sustained the past few days, I find I am physically and emotionally unable to continue writing my various columns.
In the spirit of full disclosure, I will confess I was guilty of everything I told you readers not to do. I thought I was a better trader than I was. I got way overextended, using margin to its full extent. And I thought I could ride some of my losses down, in the hope they would rebound and put me back in the black.
However, with the Nasdaq tanking this past Thursday, I was wiped out. Unable to meet my margin calls, my account has been liquidated, and I fear I will have to file for personal bankruptcy.
I am sorry, loyal readers, if I have disappointed you. May your luck be better than mine!
Regards,
Gary B. Smith
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