An Open Letter to Anthony .....(and thx to the few who have responded)
Anthony,
I came over to your thread to learn how to short and to make money from it. My objectiove, been saying it every so often for years, is to be able to live where I want to live, work when I want to work, to do what I want to do when I want. I see that possibility with the market as now the information is much closer to the smaller person.
I do a heck of a lot of research and do top down analysis. I have looked for the undervalueds, bot, and sold too soon almost always, especially since I am often way too early of any significant movement. Another part of my mkt activity is trading. The last component I want to add is shorting. So, 3 components, set within a core and trading time frames.
I have posted suggestions on your thread to contribute my thoughts on what I feel are both shorts and longs. That is my contribution and I think some of the ideas are reasonably decent.
I have asked questions though and haven't received any attempt at answers from you. My questions are how to be able to get the shares to short. There are many people who are saying increasingly they cannot get shares to short. I am one of those. Even with yamner, someone said they couldn't get shares to short. My belief is that it is likely these are coming from offshore accounts. I would like to know how the shares are been obtained or the better question maybe is how easily they are being obtained? I have posted my actual experiences the past few days and suggestions, including EPAY for example, and if I could have obtained the shares, I would have made a substantial gain (and in a very short time frame!). Helping me to get the shares is what I am asking for assistance on. Maybe with your being a market maker or having connections with market makers somehow you are able to borrow the shares. As a much smaller market participant than yourself, maybe this is not available to me - is this so? I can appreciate if that is so, and have in frustration of not being able to put on the shorts, whether your pick or mine, asked if you would be opening a fund and I'd allocate a portion of my capital to that fund. Again, no response.
I am a critic and am skeptic of pretty much everything, but with an attitude of healthy skepticism, meaning I'm open to listen. Yet, with no response, not exactly helping and my opinion and feeling of your helping a much smaller person is waning.
In coming to SI I was hoping to discuss potential picks, especially with persons more expert than me in their areas. Tokyo Mex provided answers to questions or opinions on stocks I posted I thought were good. It gave me another perspective to look at and sort of a second opinion. Tim Luke has provided similar feedback, but Tim is focused on fewer stocks so he posts on those. Last night, I discovered the "Ask Michael Burke" thread through a post by Mama Bear on my SEC / Keep SI stds up thread. In my first post I said something like , yeah and who is Michael Burke anyway type thing. I posted a few other thoughts. I am totally ignorant of the guy and he may even be some fund manager or something, and I had just been a critic. Howevr, with my questions posted I received a professional reponse, thought out, and was very much appreciative. I have not received any of the above from yourself.
True, you don't owe me anything and maybe you want the $500 - gheez do you think you may have made $500 on IMCL or any other stocks I've posted about on your thread? I do see you as the expert and THE GURU of shorting and I believe you have the answers. Fine, if you don;t want to help out, for whatever reason, I will get to the bottom of it eventually in time, but you could same me time and help me achieve my objective of living, working, doing, what and when I want.
If it's not for the money you're not answering, maybe it's just a misunderstanding that my questions haven't been answered. I think I have expressed my frustration as well as enthusiasm on your thread. Maybe it's I reversed my stance on a stock from short to long a couple of days later. Maybe it's an ego thing. Why? I think there is a part of my overall style in which I want to short. Things go down faster than up. You are a guru in this area. You and Archer set up an account and made $500,000 in 3 months (100% return). I'd like a 100% return in 3 months and if I do better with the short component, then maybe I would do more shorting. The fact remains, how to get the shares to short quickly ie. so availability nor speed are issues.
I do thank a few people on your thread who have responded to a couple of suggestions I've made. I do REALLY REALLY appreciate the PM received from someone who is trying to give me the experience of shorting - I'm still trying to figure the PM out.
Regarding disclosure, I noticed a fellow on another thread who posted his e-trade account trading summary - this has got to be the best disclosure around!!!
I noticed you mention you post the pick first, then trade. That's good, especially as you lead a group of persons. On the other hand, for a single individual, without a thread and not controlling any significant number of shares for market movement, what is your opinion on what they need to disclose? My guess is that I do not need to make my disclosure statement every time I post on a stock.
Thank you in advance for any answers you may provide - we all on SI can learn things from each other and make progress to achieving our objectives through our dialogues.
QuietWon - voicing personal experience
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