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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments -- Ignore unavailable to you. Want to Upgrade?


To: Junkyardawg who wrote (3128)9/19/1998 11:02:00 AM
From: Mr. Pink  Respond to of 18998
 
Dear Mr. Cook:

That is fascinating.

Mr. Pink



To: Junkyardawg who wrote (3128)9/19/1998 11:14:00 AM
From: Dr. Seuss  Read Replies (3) | Respond to of 18998
 
Lamar,

I only wish I had started investing "on paper". It would have been a much cheaper education for me. Please note that in down periods it is much easier to make money on the short side than in a bull market (duh). The last week in August, you could have tossed a dart at any stock and made money on the short side.

It wasn't until I had aquired the skills to read a chart, follow the SEC filings and read between the lines that I became very successful at shorting. To date, I am way ahead. At one point, however, I was way behind. It would have been nice to be way behind on paper and not start really investing/trading until I had the education you are gaining now.

My point is, your approach is sound. Learn first, invest later. This is a good lesson to anyone starting in on this very fun and rewarding methodology.

Good luck to you.
Dr.Seuss



To: Junkyardawg who wrote (3128)9/20/1998 1:25:00 AM
From: mchip  Read Replies (2) | Respond to of 18998
 
Lamar,
I see others have given you good advice and other places for more information so I will just add a quick comment:
Shorting is no different than going long in that you don't want to put all your money in one stock. I saw you paper-traded $10000 to $13850, and then used $13625 to short 500 TNSI. Pretend this is real money, and TNSI goes up to 32, how are you going to feel being down to a portfolio of $7850?