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Robert Weinstein
Registered: May 2002
Posts: 3849 |
12-31-11 05:10 PM
Quote from mastacoli71:
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.
Hello Mastocoli,
Thanks for reading and for taking the time to share your thoughts.
Actually, I make this type of trade often. I have a setup for it. Granted the news about the buyout really sent the price of the shares higher and that part was luck, BUT without the news, the stock was still expected to move higher (actually the puts shorted where expected to fall in value over the next couple of days).
So no, it was anything but a coin flip (even my lucky coin I so often talk about in the chat toom).
Happy New Year to you and yours
Robert
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JB3
Registered: Jan 2007
Posts: 420 |
01-02-12 04:57 AM
Quote from mastacoli71:
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.
Well, it was a good buy. And now that it is near $15, the risk vs. reward now has swung back into getting out of the trade, and booking profits...and finding another stock to trade. It's not pure luck like a coin flip. There was actual fundamental reasons to buy to make a quick profit, and that's what trading is all about. That's all I'm going to say, and leave Robert to run his thread without my drivel anymore.
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Robert Weinstein
Registered: May 2002
Posts: 3849 |
01-02-12 04:22 PM
Quote from puddles:
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?
Hey Puddles,
Thanks for your post and for SLV. I guess we missed the bounce with that one but it never fully qualified for me so no opportunity lost for me.
Looking forward to seeing you in the chat this week and getting back into the grove of things.
Should be a fun year
Bob
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Robert Weinstein
Registered: May 2002
Posts: 3849 |
01-02-12 04:27 PM
Quote from mastacoli71:
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.
Hello Mastacoli,
Thanks for reading my journal and for your post.
You may have heard it before but not from Puddles and I. When been busy on the short side with this stock for much of the year.
I wrote several bearish articles about RIMM this year.
The stock was due for a pop ON THAT DAY based on previous stocks in a similar situation. The buyout news just happened to make the pop higher much better. without the news, the odds were in our favor.
Best
Robert
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mastacoli71
Registered: Dec 2006
Posts: 2092 |
01-02-12 10:45 PM
Quote from Robert Weinstein:
Hello Mastacoli,
Thanks for reading my journal and for your post.
You may have heard it before but not from Puddles and I. When been busy on the short side with this stock for much of the year.
I wrote several bearish articles about RIMM this year.
The stock was due for a pop ON THAT DAY based on previous stocks in a similar situation. The buyout news just happened to make the pop higher much better. without the news, the odds were in our favor.
Best
Robert
Robert,
Sorry but nobody has a crystal ball like that. Let me ask you a question, what was your plan if this thing gapped down on you 50% the next day?
Anyhow, not trying to prove you wrong and sounds like you have been having success with taking plays like this. For me, it is not a valid strat.
Good luck in 2012.
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