it is quite a lot of work for mikescott to type all that & i've found his contributions interesting whether its plager or not, better than someone keep going plager plager wonder what is his point ...
As per the stringent requirements imposed by ET's omniscient elders, I'll provide a price probability. GS, $205.00 By July 27th
I know its a long winded explanation. I think I should have just posted a chart with the statement "Hey guys, its going down." Honestly, thats all I need to know to short a stock. If its going down when the rest of the market seems to be holding its own, then I dont need an invitation. If this will pivot, then it will pivot at the 200 day moving average, but it appears the entire broker/hedge fund segment of the universe is doing quite poorly. Look at FIG, SHLD, and BX. I thought Eddie Lampert was a stud and a star trader and SHLD was the next Berkshire Hathaway. Every star fund has its day, but it also has its dog days. Berkshire in the 70s at some point lost 50%. There is no question in my mind that Goldman will come back, but I would sure like to get a piece while its on its way down and falls through the traps.
I'm just curious, you've been shorting quite a while now. How is it you possibly not be dead broke? Are these paper trades? I'm asking an honest question here.
I can only imagine these are merely paper trades. It's easy to become bold in simulated trading and trade against the market. It won't ever hurt. Remember how he told us he was shorting IBKR when it wasn't available for shorting yet?
Trust fund baby?! Paper trader? Well paying day job? michaelscott is becoming as much of an enigmatic moron as stock_turder who I'm amazed hasn't been hit by a bus yet.
well, on scott's behalf... 95%+ of my intraday trades are shorts and i've been doing quite well this year. however...i'm a day trader, and that's my job. and it's always possible to make money going long in a down market, short in an up market , if you pick the underperforming sectors/stocks. GS is now. and maybe mr. scott is learning? instead of boldly posting about "i declare XXX to happen!" and then watching when half the time it doesn't while trying to top/bottom-tick, he's instead using words such as "if X happens", "i believe", etc. that's a positive. i just hope that his trading WAS paper trading, and that he didn't put the house on his short of AAPL / GOOG / RIMM when he made a declaration that they were going down in the next 2 weeks and when they didn't, said he wasn't wrong but 'early'. as a side note - i happen to agree longer term RE: GS, but since i have no money on the line, my opinion doesn't mean much.
Not bad at all. Unwinded much faster than I thought. While we're at it, the price should hold here for a try at 212.