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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked -- Ignore unavailable to you. Want to Upgrade?

To: Junkyardawg who wrote (6336)	1/8/1999 6:05:00 PM
From: Canuck Dave	Read Replies (1) \| Respond to of 90042

That's awful dawg... My sympathies.... I know it's hard at this point to keep your humour and optimism, but learn your lessons, pick yourself up, and don't be afraid to get back on the tiger... Tomorrow's another day CD

To: Junkyardawg who wrote (6336)	1/8/1999 7:04:00 PM
From: epicure	Read Replies (1) \| Respond to of 90042

Wow- I wish you the best Dawg. I know lots of people have responded to you- and I hope you have great success in the market. I sense that perhaps you were not diversified at the time of your misfortune in the market. Tim's picks are wonderful, but I would strongly urge you to diversify into some CEF's, small positions in oil and gold (when they are undervalued), perhaps a small bond position, and maybe reits (which I know nothing about, but some people on the Kahuna thread like them for diversification.) I urge you to read Ask Michael Burke, scan the thread for diversification as a key word, I know this was discussed at length there. Very best of luck to you my friend.

To: Junkyardawg who wrote (6336)	1/9/1999 12:03:00 AM
From: Tim Luke	Read Replies (3) \| Respond to of 90042

your post left me with a real empty feeling, i'm going to put you, barbaraT and sandra on my priority list of people to help.....extra DD and favors from my sources now

To: Junkyardawg who wrote (6336)	1/9/1999 6:24:00 AM
From: JustInTime	Read Replies (1) \| Respond to of 90042

>>My losses in one day: Thanks for the detailed response to my question. I am not a "newbie", I have been trading for a while and have not had ANY really bad trades (I ALWAYS cut my losses as soon as things go the wrong way), but as I said I think it is is important for new investors that may be lurking to hear some of the mistakes people have made, not just glowing reports of the 100-200% weekly gains that everybody is making<g>. By reading most of the posts on SI you would think that all you have to do is buy any stock and you will instantly be rich. Your story brings to mind a quote I heard somewhere (I don't remeber it exactly but it is something like this: "The difference between school and real-life is that real-life gives the test first and the lesson later...." Good luck to you and remember to only invest with what you can afford to lose.

To: Junkyardawg who wrote (6336)	1/10/1999 12:35:00 PM
From: Jon Stept	Read Replies (3) \| Respond to of 90042

Junkyardawg- "My losses in one day:" Thank you for that sobering, slap in the face of a story. I needed that, and I mean it. I logon here everyday and read about all the money being made and I feel like I am losing out. It just looks so easy. "Get in AMZN... get in CMGI... they are going up." Sure enough the next day, they are crazy up..., "Jeez, I missed it again!". Your story balances things out for me and makes me realize if one can make a lot of money without a whole lot of work then one has to be really, really careful. When I first got started in shorter term trading, as opposed to investing, I lost thousands and thousands of dollars on the first company I played as a "bounce back". I learned my lesson pretty darn quick on that one: Crooks can run companies too. If it helps you any, I have 95% of my investments are long term... none of this crazy internet, 30% in one day stuff; the other 5% for that. Jon :)

To: Junkyardawg who wrote (6336)	1/10/1999 1:43:00 PM
From: Colin Cody	Read Replies (1) \| Respond to of 90042

dawg, If your story is accurate, all is not lost. #1 You said you have no margin account. If you do not have a "type 2" or "margin account" then you MAY NOT SHORT STOCKS. You MUST APPLY to get the authority to borrow cash for buying and to borrow shares for shorting. i.e. if your broker let you short when you did not sign the disclosure statements, you have an EXCELLENT case for damages against the broker, who BY LAW, SHOULD NOT HAVE LET YOU SHORT THE STOCK. #2 Let's play devil's advocate and say you just screwed up because you didn't realize you were selling and selling and selling more and more shares. For this a good LAWYER is needed, but a brokerage should NOT allow you to sell and sell with the idea that you'd (A) come up with the shares in three days or (B) go beyond your in-house margin account availability or (C ) trade far beyond your normal trading practices or (D) allow you to go beyond what a broker's "due care" would dictate. I'd say you have a BETTER than EXCELLENT case here, assuming what you posted was the full, truthful story. If the brokerage has stonewalled you aggressively on this case, then you have a good possibility for TREBLE DAMAGES on top of getting your losses back. Since the numbers here are material to you, get a good SECURITIES ARBITRATION LAWYER for representation. Good Luck Colin