AND he's already down about 200K on his remaining open positions. 5 losses will most likely end up obliterating 94 wins... and then some. I'm not sure if I should say "what a joke" or "what a Joker" here. Either will do, I guess.
Yeah that -$208000 nearly wiped out his whole year. Probably only luck saved his azz so far. If Obama doesn't pull some miracles, Lenny might be another missing "guru". This is such a classic example of what a relentless and reckless martingale strategy can do. That Cramer and TSC condone this kind of trading is stunning. Hell, they will probably tout that he still made $36k or whatever even during a bad year. The moron is just one triple-down from total disaster and yet more lawsuits...
Come on!!!! The best hitters in baseball make seven outs for every three hits they get! You think every fly ball lis a 'can of corn'? You have to play hurt, take one for the team, come in spikes high, take two and hit to left. How many baseball analogies can this guy put in one article? I'm hoping Heidi Fleiss starts to write for them. "You know, when I was hooking, I'd think of different positions - you know, options positions. Let me tell you how to spread the leg,,,,,,,,,,, or is it spread the legs? I forget. Anyway............."
he s another loser/poser...honestly,how many gurus have done better than a measly 10% gain 5yrs in row let alone 3???Very,very few people can or have.Wall st is a fraud.Its all smoke and mirrors.Sell the sizzle,not the steak.Big fancy broker offices,fancy suits and manicures all paid by not for performance but by exhorbitant fees for worse than market avg performance.A la Madoff or citigroup or merrill lynch.An index etf will give you better performance than the gurus 95% of the time so why do people choose to listen to 'gurus'? I saw lenny dyskstra on real sports and he made about 50 million from a car wash business he had...He didnt make any of his money from markets.When asked how he learned about markets he said he bought every dvd about markets since he hated reading!He s basically an idiot.HE speaks and sounds like an illiterate.He sort of proud of being a jackass.But really he got very lucky with his car wash biz.That cramer hired this numbskull says a lot about jimbo.
just checked lenny's site. and supposedly he "sold" his DOX position on janury 7, at a loss of "only" 21k. and yet - i have a screen capture of his page, which he updated on january 16, which shows under "open positions" the long 1160 DOXAD, at an average price of 1.80. so he either lied on january 16 or today (selling on jan. 7) edit: i can't find a link to any free historical data on options. does anyone have access to it, and can screencapture daily volume from jan 6 - 16 on DOXAD?
Here are the daily O,H,L,C and Volume numbers for Dec/Jan, DOX JAN20C. If he actually sold on 1/6 then it might be possible. I'm suspicious. Only 10 traded 1/7. 1200 traded 1/15 for about 0.2-0.1, pretty close to the 1160 he had! Code: 12/1/2008 0:00 1.1 1.1 0.65 0.65 688 12/2/2008 0:00 0.85 0.85 0.55 0.6 447 12/3/2008 0:00 0.65 0.65 0.5 0.55 499 12/4/2008 0:00 0.5 0.55 0.4 0.4 1294 12/5/2008 0:00 0.4 0.45 0.35 0.45 251 12/8/2008 0:00 0.55 0.75 0.55 0.7 661 12/9/2008 0:00 0.65 0.9 0.65 0.8 75 12/10/2008 0:00 0.75 0.8 0.65 0.65 240 12/11/2008 0:00 0.7 0.7 0.5 0.55 328 12/12/2008 0:00 0.5 0.55 0.45 0.45 294 12/15/2008 0:00 0.6 0.6 0.45 0.46 257 12/16/2008 0:00 0.55 0.6 0.45 0.6 303 12/17/2008 0:00 0.6 0.6 0.4 0.44 241 12/18/2008 0:00 0.5 0.6 0.45 0.45 195 12/19/2008 0:00 0.48 0.6 0.48 0.5 554 12/22/2008 0:00 0.5 0.5 0.35 0.4 200 12/23/2008 0:00 0.47 0.47 0.35 0.35 29 12/24/2008 0:00 0.35 0.4 0.3 0.35 1434 12/29/2008 0:00 0.45 0.45 0.3 0.3 1021 12/30/2008 0:00 0.3 0.32 0.25 0.28 378 12/31/2008 0:00 0.25 0.35 0.25 0.26 2148 1/2/2009 0:00 0.3 0.6 0.3 0.55 1450 1/5/2009 0:00 0.6 1.05 0.6 1.03 2223 1/6/2009 0:00 1.1 1.75 1 1.55 1711 1/7/2009 0:00 1.3 1.3 1.3 1.3 10 1/8/2009 0:00 1.15 1.2 1.05 1.15 89 1/9/2009 0:00 0.86 0.86 0.8 0.8 20 1/12/2009 0:00 0.36 0.4 0.3 0.4 668 1/13/2009 0:00 0.35 0.35 0.2 0.25 652 1/14/2009 0:00 0.15 0.3 0.15 0.2 1900 1/15/2009 0:00 0.2 0.2 0.1 0.1 1200 1/16/2009 0:00 0.01 0.05 0.01 0.05 230
thanks for that. can you get a tick by tick on 1/6? if his loss was only 21550, then he would have had to sell them all at an average of 1.62.
more info: from december 31, lenny's plan is to ride it til expiration: "want to live on the edge, you can follow me on a trip on the wild side and double-down. Anyone who still owns these options now is a major risk taker and has already decided to be in it for the possible flame-out in three weeks time. So why not go all in and feel the adrenaline rush of a last minute all-or-nothing gambit? Buy an additional 580 contracts for 25 cents or better; lower your average to $1.80." http://thelennydykstrareport.com/news/?p=476 nice how lenny got 1/4 of the trade at the day's low? january 8 link from lenny: http://thelennydykstrareport.com/news/?p=486 "After a week in which investors began to regain some of what the market lost in 2008, we are closing in on a win in Amdocs (DOX), whose share price rose 4.4% yesterday" <b>no mention of selling the position at a loss. </b> january 10 link from lenny: http://thelennydykstrareport.com/news/?p=488 "Now, letâs recap positions since Dec. 31. The past week has included two wins, totaling $6,800 (snip) âOn Dec. 31, I added (snip) 580 contracts at 25 cents apiece to Amdocs (DOX)." and after that he talks about selling some options registering some wins. <b>no mention of selling the position at a loss. </b> he also has mentioned 94-0 in his writings on thestreet.com and everywhere else *up until yesterday*. then, miraculously, his "loss" of 2 weeks ago appeared. so, either lenny was lying the past 2 weeks about his record, and still having DOX as a long... or he was lying yesterday, when he said he sold it 2 weeks ago.
Daily was all I could pull up on Esignal. Anybody else have this data? I tried an IB chart, but since that contract is not listed I couldn't open up a chart.