Forums > Trading for a Living > Journals > Weinstein Trading and Fading

Old Dec 21st, 2011, 08:06 AM   #2209
Robert Weinstein
Registered User
Join Date: May 2002
Location: northwoods of Wisconsin
Posts: 3,919
Quote from trader198:

congratulations, turkey flies! fading is very appealing.
fading is a backward stratey, just in driving, if you want to reverse, you look at rear mirror. do not forget about trend following, that is a forward strategy, most profits from here, like in driving, we look ahead to drive to reach our target.

Hello Trader,

You're a funny guy, but your starting to quote yourself right after you write things......that's even more funny....

Do I think I control the market?? Well Yes, I watched star wars with my sons three times this month. It's called Jedi Mind control. Try it sometime

Best to you and yours this holiday season. May your next year be filled with fun, love and lots of winning trend following trades!!!

Old Dec 22nd, 2011, 12:42 PM   #2210
Robert Weinstein
Registered User
Join Date: May 2002
Location: northwoods of Wisconsin
Posts: 3,919
video about Research In Motion

Old Dec 26th, 2011, 06:12 AM   #2211
Join Date: Dec 2006
Posts: 2,709
Quote from Robert Weinstein:

As fate will have it, I went long RIMM today with under an hour before the close.

As many by now know, about an hour and half after the closing bell, Reuters reported Microsoft, Nokia and especially Amazon have taken a look at RIMM to see if there was a deal to be made.

That of course shot the stock higher in after hours trading and likely will have some follow through tomorrow. Hopefully beyond a gap and crap.

So it's currently happy holidays to be and a big thank you to Amazon for the early Christmas gift.
This is a pure coin flip. You should know better. If it worked you got lucky. Please don't try to convince anybody there is a strategy traking a trade like this.
Old Dec 28th, 2011, 12:59 PM   #2212
Join Date: Jan 2007
Posts: 453
That is not luck. Anyone with a brain can figure out that the IP is worth more than the stock price now. If it wasn't Amazon, it would have been Google or Apple or Microsoft. Everyone had an inkling that below 15 bucks, it was going to draw interest from buyers, and the lower the price went, the more urgency is to buy it before Google or Apple. There was limited downside, the bad news was already out of the bag with their product life cycle delay last week.

Risk is limited. The reward is very high. It's a no brainer to take this trade. Not every trade has to be in some technical indicator. Sometimes, you need to know the fundamentals.
Old Dec 29th, 2011, 03:07 AM   #2213
Join Date: May 2010
Posts: 1,727
RIMM was hardly a coinflip.. as stated above, the R:R was signficantly better than that. the entry was not for a long term investment, just an oversold bounce. the buyout rumors turned it from a 4 footer into a gimme putt..

speaking of which.. bob, won't be in chat much this week, SLV soon?
Old Dec 29th, 2011, 04:16 AM   #2214
Join Date: Dec 2006
Posts: 2,709
Whatever it takes to convince yourself. Limited risk, fundamentals, everyone saying under 15 it was a screaming buy. I think I have heard that justification once or twice before. Good luck with that.
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