Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : The Naked Truth - Big Kahuna a Myth -- Ignore unavailable to you. Want to Upgrade?

To: John Pitera who wrote (73990)	11/6/1999 5:55:00 AM
From: Robert McHale	Read Replies (1) \| Respond to of 86076

Letter to self. Warning. Incoherent. Dont bother reading. Read my post below. Message 11829759 I am definately the most buzzed on the MDA thread tonight and I only typed. Have as much chance being on the money as anyone in my opinions. Even if they change when I read them tommorow. ps I always regret evey late night keystroke. Please forgive me. But comments welome. Good Therapy. Thanks guys. I appreciate you all but timing is everything these days. We were way early to the party. Cops must have better info than us. I am begining to belive when any thread makes they most active if there isnt a firm and obvious consensous go against the trnd or at least take small gains because we are being eatched. Not everywhere but we are popular and every day a profit heavybear looking at huge gains joins the bearishcamp hoping to make money on both sides and prove to whoever he knows what he is talking about. Most of the last statement was directed at yours truly but having said it maybe it can serve as a worning to those who have not yet become obssesed with achieving monetary wealth through profiting from others ignorence (percieved by my self seconds before dropping a couple of months salery from a high paying job on a trade then realizing I'm the Ignorant one). Don't get me wrong I;m usually rightinitially but I let profits run this week and they will prob end In me diminishing one of my most profitable weeks to a mediokere one. I know that was spelled wrong. Stay tuned for the blowoff top (For Heinz) I say right at nov expiry when most are long. Everyone is flat out bullish. Globally even. Hedged traders are flat. You are long or short a few select issues. Noteably high flying internets like ebay or amzn which tank the day after I gave up and covered my 2 month long shorts. Jeeze they know me better than I do. Right to the breaking point only I break first. Not in my trading lifetime have I beeen so wrong in my convistions. I wander how some could have lasted this long in the bearish camp. I suspect most are like me and visit the bulls till reality and the profits made so easily be bullish and the need to not cry wolf just once cause us to short the market because this is cirtainly the top. (Microsofts demise) When they will rise like a speculative Pheneox (viewed as a beast worth alot more tha the sum of its parts) and take this market yet higher. Many on the bullish threads doing no more research than current volume and thread seniment are are up 50% this year. (I've come to realize three pics makes a following recognizable by the watchers, whoever they are to make it a zero sum game. Thise late to the party are the one how cover the gains of the early in. the true believers are either royaly decomated or luckily vindicated by a timly news release o sector more to indoctrinate the one who said jump in first be it that the stayed in it or not. I find these activities periodicaly and have managed t trade for several years without disipline. I recognize momentum, value, and down right good calls only to return profts in the name of its "alright to bet big with there money only to extend the zero sum game. I trade better when I;m down. Period. From now on I resolve to every time I double my money to take it out of my account and spend it on anything. This is how I believe we have come as far as fast as we have. Its purly cultural. 100,000 salaried male with a ETrade account does not make a 20 yr old rich. He will tryt o double it. I am he. I probably have paid taxes on 300,000 in the last three years salary . However I have a healthy capital loss carry forward. Capital loss carry forwards are going to be as important as job reports to the fed in the near future. If they are'nt looking at them already which I'm sure they are. I make more money in the current economy than I or anyone of my teachers thought I would. I play this game so I should have no trouble when a bear market comes along and everyone stops watching the SP futures every moring to see if they are %$#@!@ or not until the next mania come along. When everyone needs a second job to supplament your trading. I'm sick of covering my good puts (Amzn) and letting my bad but sure ones expire. (LMRX,...)etc , etc, etc, big bets to. Today I bought NSPK Calls as an irrational sure thing. I suggest you join me. The meek shall inheret the earth. And they don't need to know how to spell. Or proper gramer for that manner. When this thread falls to one person posting to themselves. That will be the day of reconing. If we dip Monday I advise you cover losses. Take profits. I would have had a better week had I done that. PS Out of frostration I went long last week when I was sure we would have our day in the sun. (After I covered my AMZN puts) And am happy to say I will be around to short this %(#*@& when I'm sure there is no downside. And probably loose again. Though I think I have a while. I'm not currently short so if you are your probably positioned well because I'm back to trading on non fundamentals. 200% this week. If your bearish and know what your talking about buy the next hot IPO and sell every time you make ten grand then stop looking at it. It worked for me till I expexcted 20. My third tade this week will prob result in a loss. Always take profits. Up but feeling bad. Didnt take rofits as I said I would and jinxed my best run since I started feeling bearish. Sitting it out a while till I see the obvious. Then I'lll do the opposite and probably make a fortune. Maybe I'll double down onthose Feb 2000 NSPK Calss I Chased all the way to teice what they are now just to prove my point. Emotions $%#^ us up no question about it. Someboby loves bear and I'm not sure they are full. Playing irrational, momentum driven, hype driven longs and finally able to aford to buy some more puts but wont. Why I don'tknow. Hope this diatribe was at least entertaining. Sorry for wasting your time.