Are you using Shortboy? What does he do with open positions that don't hit his buy stop or his buy limit?
How did you decide on Longbull? Who else did you look at? I'm also thinking about day trading and am wondering if it's better to startout with a chatroom/picker than fly solo in the beginning. Thanks for your input!
Gee, he's only been in the WSJ twice? Bernie Ebbers is in the WSj almost every day....That must make Bernie a REALLY smart, cool guy!! And if you knew anything about trading, you would know that being a grad from Wharton, or Kellogg (no Vinny, I don't mean "Tony the Tiger"), or MIT doesnt mean ANYTHING when it comes to knowing how to trade. In fact, those are the guys that usually SCREW IT UP! You want to know about what great traders business school Phd's make, have someone read you "When Genius Failed". All the guys that blew up Long Term Capital, and nearly wrecked our financial system were academic hotshots. So if guys like that are promoting "shortboy", then I know he is a loser. And, I dont care who has been on CNBC. If you dont realize that CNBC is a bunch of crap geared towards the average idiot, then you are proof of the old adage: "If you are in a poker game, and don't know who the pidgeon is, it's YOU" Yes, David Smith had some very valid points, but I'm sure you've already flooded his e-mail inbox to tell him so...
Take a look at this thread and see Tony Oz pull Shortboy's stated performance apart. Watch how Vinny's old nickname Sam Contari disappears as the facts are laid out. http://www.elitetrader.com/vb/showthread.php?s=&threadid=4510&perpage=6&pagenumber=8 I sometimes wonder whether Vinny is actually deliberately trying to do a hatchet job on Shortboy, by constantly bringing the site to the attention of the members here.
Nonetheless, my observation seems pretty valid. He enters orders as follows: KSS sell 500 @ 65.70, buy @ 62.10, buy-stop @ 68.10 If you're filled but the exit buy or buy-stop are not met, then you're holding overnight and susceptible to up gaps--or even down gaps interms of getting out too soon. Okay, fine, no system is perfect and they all have their limitations. But I'd like to hear Vinny address this one. Especially since there might be a deeper problem. See, I could not find the appropriate exit order for KSS. His trade history chart shows buying KSS back at 65.60. Yet, I see no buy order for KSS @ 65.60 in the website. (Maybe I'm just missing it, but I looked pretty hard.) There is an explanation on adjusting stops if you're filled higher than the order, but that's not the case here.
The only thing Tony Oz did, is spam maliboxes. He did not pull anything apart. I will be glad to debate ALL his points now or anytime. You make a point, I'll show you how you're wrong. I ain't going nowhere. Don't say anyone ran from Tony Oz. He was wrong on all counts. If anyone says : "shortboy sucks", the following here go: "there you go, its proven, shortboy sucks". Can you please get your own brain? Shortboy has an AUDITED track record from 1996- that beats the S&P EVERY year (yes, even when it was going up 20% a year). I said AUDITED. So where's Tony Oz for that little fact? Truth is, Oz had NO valid points, just an overly bias crowd here to say "you got him Tony". Read what Tony Oz said, and try to show that he had 1 valid point, you can't. He says "shortboy's a product of the bear market". Really? Then explain him outperforming the S&P from 1996-1999 during the BULL market. Tony Oz says "Shortboy lost money in 2001". But even a monkey can click onto Shortboy's 2001 performance and see he made $30,000. Tony has ZERO credibility. Your embarrasssing yourself by mentioning him like he's credible. He's just a spammer to my private, and others apparently, email address. Let the audience decide: www.shortboy.com Vinny
Great player. You are missing something. Each evening, the site is updated, with fresh buy-s and buy-stops that only his subscribers see. I'm a subscriber, and I requested that, along with many others. People who don't subscribe should not have access to the trades or the strategy, until AFTER the fact. Why would people subscribe if he gave out the meaty info for free. And I can assure you EVERY trade for the last 3 years that is posted on his site is legit. If it wasn't he would be crucified on this website, and other message boards. But you know what, when your honest like shortboy, and people cant attack the trades b/c they're all honest and correct, they do a tony oz, or even a babak and alittle smoke and mirrors. Yankees rule! Vinny
Vinnie, Yeah, I loved Murcer when I was a kid. He mostly had just warning track power, but don't most of us? I'll think over shortboy, you may have swayed me.