Discussion in 'Stocks' started by mikeenday, Jun 1, 2011.
stop @ 42.55
Not trying to be a dick but when you posted that "call" the price was between 30 and 47 cents below your entry... not very useful to post a trade that you're already up $1500+ in.
I got a stop for that. @42.55
i'm going to put a breakeven stop by end of tomorrow if possible.
otherwise will just let it run
There is an extremely strong chance that this poster is in fact the reincarnation of "RetailDayTrader", a person who regularily spammed these boards with short calls in the past, many of which ultimately were big losers. For example, he shorted AAPL at around $290 last year. Once the trades went against him, he claimed he's not a real trader and was just playing a joke on everyone. One big clue is he likes buying double or triple bear ETFs, including one he supposably bought last fall.
Almost anyone can randomly pick equities or indexes and predict some massive shorting exercise. Of course, trading this kind of move in real markets is much, much harder then advertised, given the premiums involved and importance of timing.
This is of course the joke about GrandStuperCycle, someone who constantly reiterates correction calls, but never realizes the market itself or the commodities involved remain much higher then his original call on almost every pullback. Every single bearish call that guy has posted now he posted last August.
Look at his blog in late August, he was short almost everything except the $US.
I'm not sure if we can really call this a trading forum anymore. Most of the posts are these imaginary traders making wild guesses, or doomsday economy types declaring the end of the economic world within months.
I will come back and let you know my trade when I close this position @ 5 a piece, possibly middle 2012 if not sooner.
Markets aren't always rational, and I wouldn't want to fight the short term trend down on RIMM, which is primarily fostered by the negative feedback of US analysts. So there is nothing per say necessarily wrong about shorting into downtrend momentum, and it might work out.
However, it wouldn't surprise me if RIMM's lowered outlook is less about reality and more about managing perspectives. After numerous quarters of impressive earnings that merely met expectations, and then seeing the share price sharply dwindle, maybe they prefer AAPL's approach of vastly underestimating earnings every quarter then getting easy beats.
If markets decide soon that equities with debt issues are too risky to hold, stocks like RIMM with absolutely no debt on their balance sheet and continued positive cash streams may become more popular again. You never know, they might even institute a dividend out of the blue.
Contrarians will have RIMM on their watch list very soon if not already. Can a company making billions really be considered a "turn around" candidate ? Surprisingly, given the irrationality of markets, they might be.
so far it took the 2nd prize as the biggest winner for this year.
put a stop @ 38.1
wasn't he revealed to be Stocktrad3r also?
shorted another 2000 shares today around 17.1
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