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Nexen
 

Registered: Apr 2009
Posts: 500

 

05-02-09 06:32 AM


Quote from TMcKenna:

Well, If you picked those to average down... what can I say? Do something else ... stock market is not for you



Hindsight speak.

Nexen

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TMcKenna
 

Registered: Oct 2005
Posts: 350

 

05-02-09 06:36 AM


Quote from Nexen:

Hindsight speak.

Nexen



No hindsight not at all.. the companies I listed you should start buying this Monday and make sure you average down, check this post later.. let's say 3 months from now... ok?

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Nexen
 

Registered: Apr 2009
Posts: 500

 

05-02-09 06:39 AM


Quote from TMcKenna:

No hindsight not at all.. the companies I listed you should start buying this Monday and make sure you average down, check this post later.. let's say 3 months from now... ok?



No thank you, I don't predict the market.

Nexen

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Red_Ink_inc
 

Registered: Jul 2005
Posts: 2167

 

05-02-09 06:56 AM


Quote from TMcKenna:

Not true... Averaging down is the most powerful approach if you pick the right stock. Think about it.... just a month ago MSFT was trading at $17 now its over $20...
When you decide to average down you have to pick strong company which has been beaten down to the ground.. and then you enter your first long trade, and then average down forever (according to your account size)

MSFT is just one example, I didn't want to suggest you should buy this specific stock .... but .. there were and still there are plenty of similar stocks...where you can make killing if your account size is appropriate.
Neke trades with 300k account, my account is just above 150K, but I made killing last 3 months... I kept buying the best companies and averaged down forever.... too bad they turned up too soon because I was ready for much more... my stop loss was at DOW 3000 and s@p 400, but we never got there....



I went to Jr High School with a Terry McKenna in Victoria, BC. I noticed from your profile your location is listed as Canada. The Terry I knew was as dumb as a bag of hammers. Kind of sounds like it could be you from the idiocy you wrote. Just wondering if it is you? If it is, congrats on not ending up in jail like I would have figured.

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short&naked
 

Registered: Jul 2008
Posts: 1456

 

05-02-09 09:47 AM


Quote from TMcKenna:

Hello Neke,

This is first time i post my comment here..
I can't understand your choice of stocks (options) you trade...
Why don't you take something more certain than some shit banks or overvalued solar stocks?




It's not like nobody ever warned him.

He shouldn't even be touching anything but currencies or index futures with that size. I made this clear last year but was smacked down quickly by neke's cheerleading squad.

BGU or SSO might do the trick. Those on options will give you all the action you need. (In fact they are perfect for Neke's strategy).

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MJUK
 

Registered: Sep 2008
Posts: 243

 

05-02-09 10:33 AM


Quote from neke:

05/02/2009
Weekly Update for week 16/50 ended 05/02/2009

Awful, awful week, down 43K (13.8%). Thought I bottomed two weeks ago. Now it gets uglier.

What began as a good week on Monday, with a +20K gain, got progressively worse as the days went by, reaching a climax on Thursday with two PUT options on FSLR after their earnings ( a veiled attempt at averaging down) ending disastrously. This is depressing. Need to get the market off me for some days, and hopefully have better clarity.

code:
Opening Balance: 308.174 Net gain for the week -42,517 ------------------------------------------------ Net Balance: 265,657 Number of Trades 33 Number of Profitable Trades 17 Since Inception of Thread 01/10/2009 - 05/02/2009 Opening Balance: 320,064 Net gain (Less Margin Interest) -54,407 (Down 17%) ------------------------------------------------ Net Balance 265,657 Number of Trades 400 Number of Profitable Trades 249 Top/Bottom Discretionary Trades for the week TICKER ENTRY DATE/TIME EXIT DATE/TIME QTY PURCHASE AMT SOLD AMT GAIN/LOSS TYPE WHR 2009-04-27-11-29-38 2009-04-27-12-17-34 10000 476888 487628 10707 SHORT ------------------------------------------------------------ SZCEJ 2009-04-29-14-33-46 2009-04-29-15-32-31 20000 51600 42800 -9122 SPY CALL HJQQQ 2009-04-30-10-34-47 2009-04-30-11-53-26 10000 97000 84000 -13166 FSLR PUT HJQQN 2009-04-30-09-30-29 2009-04-30-11-45-15 15000 80000 57500 -22762 FSLR PUT



I would take a break for a couple of weeks Neke. You don't want a run of bad weeks to affect your future trading.

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