True that. Anyway, Go where you can make money. If what is fashionable makes big $, go for it. Being pro something does not mean being against all the rest. Even though I am fully NYSE now, I am aware other markets are really tempting (think forex?). On the other hand when you have a gold mine why would you leave it and change country just in case there are diamonds somewhere. no market is perfect. I believe these imperfections are what you can use to make money. so I reserve the right to be wrong and go elsewhere if need be. For now NYSE it is. I am happy for anyone making $ on OTC. Don't hesitate to send me a mail to tell me how tntneo
Now I am catching on. Technology game is out. Inferior goods trading is in. Trade what is there not what we think should be there or what was there yesterday. In some ways what Charles in Sunshine is saying is correct. Just make sure the time frame of the trade is consistent with the idea.
Look at MSO trading today. Whoever the specialist is on that deserves a big prize for bobbing & weaving traders away from their money. I guess this is why I stay away from NYSE personally.
Stay away from MSO. I said earlier that I look for stocks where the specialist is consistent. If you don't trade the stock regularly and jump in one day you are subject to the games the regular traders of that stock play. If you watch it alot, then you will be ready for it or recognize bs when you see it. True for OTC and NYSE
Interesting thoughts on naz vs. listed... http://www.elitetrader.com/vb/showthread.php?s=&threadid=5927&perpage=6&pagenumber=12 Thanks dotslash.
Looks like MSO got destroyed on biggest volume in 3 months and bounced off a January low. Call me crazy, but isn't the specialist likely to get fragged himself in that kind of action? Surprise!!! Sell fifty k shares market right now! Maybe more is coming, maybe it isn't! Uptick, uptick, boom, 200k more! Surprise!!! I guess what I'm saying is, I know these dudes are shady but it's not like they sit there and pick pockets all day w/no risk, is it?
MSO (Martha Stewart Living) went down because she is friends with the IMCL (ImClone) guy, Sam Waksal, who was just arrested on charges of securities fraud and insider trading. She succeeded in selling several hundred thousand shares(recollect) the day before it crashed a few months ago (probably to me!!! I loaded up the day before the gap.). Maybe investors think she'll be next. A lot of people, including myself, lost major cachingo on that deal. It would be great to see her and her friend Waksal behind bars.
Rigel, right you are, MSO was event driven. But my point was how the specialist was gapping it all over the place. Take a look at the intraday 1min chart. Its breathtaking! Show me a Nasdaq stock with as much volume as MSO got today that has a 1 min chart that looks like that (thats 1.7 million shares).
I see what you mean. I wouldn't use the words breathtaking though. To me the Rocky Mountains are breathtaking. When I looked at that chart I got more of the feeling I get when I walk out on my front porch and notice that someone's dog has taken a crap on my lawn. I don't want to deal with it and I don't want to step in it.