On this week's episode, Dave unexpectedly walks in on Goldman bending his account over while viewing his WCOM trade confirms. Ok, I'm bored today also!
RE> We just had a WCOM sales rep visit our office trying to sell phone services. He actually uttered the sentence, "Our company is doing very well." I just was laid-off form a telecommunications integration/professional services firm in Cupertino, they closed their doors after being in business for over 8 years servicing the Telco arena, I had last quarter 4!!! deals going (I was in sales) each a minimun of $400K <<ALL>> died due to either my clients filing CHpt 11 or just no business (read revenue) to support infrustructure upgrades.....I had deals with Yipes (huge broadband provider out of SF) they filed Chpt 11 last mos, Verizon , (fired all contractors and System Integrators), WorldCom ( These guys still owed my company 1.2 million in past due bills), and McCloud USA - another Chpt 11 , telco sucks right now.....so I am finally motivated to follow my bliss and get into full time prop trading, hence my attnedance at this weeks Bright Trading training session. Sorry had to vent ...I'm still owed over $15K in commisions from the last firm I was with, and with all the creditors lining up, I don't expect to get a .25 cents on the dollar of that.......rats .... Thanks for letting vent ..... Good trading all.......don't go long telco's, unless you are sure! mrktwiz
Whats really sad is the telcos and cable co's are charging us big bucks for commodity service (50 a month for basic cable?), and still they are bleeding.
RE> Hey, I'm just glad somebody switched off the "bash Don Bright" channel... Don't worry Don, I'm sure someone has the remote out their...lol mrktwiz
darkhorse, while I respect your experience and intelligence, I think the answer to your question is fairly obvious....because you need to be right. Or maybe it's just cuz you're a real helpful guy at heart? :eek:
Actually you say that smartly, but it IS because I like to be helpful. I wish someone had smacked me upside the head a few times in my early days, it would have saved me a few thousand bucks in tuition costs and lost opportunity. Go a few posts back in this very thread and see my explanation for my comments along w/ my observations on market environment, odds etc. and why I spoke up. If I felt the need to be right all the time my low percentage of winning trades (50%) would bother me more than it does (not at all). The reason that I usually stick to my guns in a debate is because I don't get involved in the first place unless I have a logically sound position, and I don't back off from a position just because people grouse or whine. But when I am shown to be wrong I appreciate it because I'd rather have wisdom than a big head, and receiving knowledge is better than sharing it. I tell you what, put me the test: Go back and review my old posts, then come back and tell me whether you think I am helpful by nature or just a flamer jackass w/ no knowledge behind my comments. You'll find that I can be pretty harsh when I smell BS but overall I am friendly, open and try to share what little I know.
There's really not much to discuss here, the trade that started this thread was transparently lame, and every decent trader knows it. 'Nuff said.
darkhorse, I meant it when I said I respect your experience and intelligence. And I do appreciate most of your posts. But I think it annoyed me when you jumped in with the very first post today on this thread: http://www.elitetrader.com/vb/showthread.php?s=&threadid=5225&perpage=6&pagenumber=5 making a point of the WCOM price (being right at DaytraderDave's stop). If you had stuck to your point that you thought it was an unsound strategy, that I would understand. But it sure sounded like you were rubbing something in....maybe not.
Magna: When you're right, you're right. I do overstep my boundaries and come off like an ass sometimes, and my playful nips can sometimes draw blood. Something for me to work on....