At Kershner in 2000? Don't mean to be rude, but are you sure about that? KTG wasn't around then. It was Zone Trading prior to Kershner Trading Group and I think it was Cornerstone before that.
Actually, it was Protrader back then. I remember when we had the naming contest and the CEO at the time picked his own entry, which was Zone. Probably the only people I traded with that you might know is Billy, Xander, Tollamache, Manning, and Larue.
Oh wow that's pretty cool. Sorry, to be standoffish to start. Lol I never know what I am going to bump into on the internet. Yeah, Billy has moved on from the trading area from what I know. When he was at Kershner he was doing internet poker and travel sites on the side. He was apart of the many cutbacks that started a couple years ago after Andy finally realized he had to start cutting back on expenses. I think Xander is still trading. I never knew him that well outside of a hello. Tollemache is pretty much done from trading too. I don't know exactly what he is doing now, but he is up in Ft. Worth. The Mannings started up an Assent branch, but you probably already knew that. That ended up transitioning in to Great Point Capital after Assent got spun off from Sungard. We lost the rights to Anvil during that transition and now we are on Lightspeed which isn't bad, but it's still meh. Andy is still doing the same thing at KTG. Gets an idea in his head...goes with it...and doesn't listen to anyone else lol. I'm always thankful to Andy for getting my start with his firm, but I had to move on due to so many frustrations with how the business was being run. I'm glad to be done with that stress in my life. I'm trying to go back and remember some guys that we might know. I started back at Zone in March 2004. Did you know D-Rod, Mogo, Shayne Young, or David Kershner? Anyhow, cool to hear from someone who knows the guys you mentioned. Are you still trading?
Is righttrader really robbie trying to show that he really is "in the know"? Its just odd that righttrader comes in, has two total posts, and they happen to have complete relevance to robbie.
i guess it could be robbie, but "in the know" of what? random austin traders and trading firms that no one else would know about or care that he knows about? while robbie and Cxbby's conversation did basically devolve into a pissing contest, knowing how much of what Cxbby is saying is just completely wrong does make it kind of funny. or maybe francis 4 prez has actually been a robbie screen name all along, too!
random thought I remember the dumbest things from this site. i remember the post when you realized who robbie is.
Anyhow, back to the market. I had a crappy day of trading yesterday, but I still made out alright. I sold some out of the money puts in various stocks but the bulk of my position was the 62 strike puts in IWM that expire this week. I was able to sell those for about 40 cents when the IWM was trading around 66.75. I bring this up because the strategy of put selling is actually a safe strategy for investors that has a bad reputation. In this situation I decided to sell these out of the money puts because we were still over 4 days from expiration and the market did appear weak at the time. Also, 62 was a spot on the chart that I felt comfortable owning IWM at if we did drop that far that quick. Additionally, the downside skew was pretty absurd. The 62 strikes (about 5 dollars out of the money) were at around 40 cents. The 72 strike calls (about 5 dollars out of the money) were around 15 cents. Using this you can see sentiment was clearly to the down side in a pretty big fashion. Especially, when you consider how major the support is down at 65 and then more major support below 62 and how we were just at 72 a few days ago. Anyhow, looking at the prices in the options market can give you a good summary of how bullish and bearish people are getting and it can provide some good contrarian signals. Outside of that yesterday I completely fumbled a GDX long trade. I lost money on a trade that should have been a big winner. I got in early (but it did look good then) and then I went to go get coffee at Starbucks and I was hanging out trying to read my book while checking the GDX and GDXJ prices. The market dropped and I ended up holding the entire move to the downside like a moron and I ended up doubling down at the bottom. After all that I ended up covering my position during the consolidation they had after they bounced off the bottom for various stupid reasons. I think I ended up losing a 10 cents a share on average. Other than that I made money on my PFF I held short over the weekend and luckily I made one smart decision to hold my EK all day that I had bought in the morning and I caught the spike right at the close and covered my position on that. That EK took some of the sting away from my gold miner train wreck trade. Well, I haven't been to the office today so I have no clue where my P&L is at. I should be up pretty good since the market is up. I also need to head in there to get my stops setup on the new trading platform we have. No stops was part of the reason why I had my gold miner train wreck. You'd think after trading this long I wouldn't be so lazy and dumb, but I still am!:grin: Hope my random journal entry helps someone.
I assure you I am not Robbie. My brother told me about this thread since he knew I used to work there so I signed up on the site. We can take the conversation private.
No, I prefer hearing a person have a conversation with himself. Im sure there are much better message boards out there for stock analysis compared to a Rockets message board.
Well I didn't trade or go into the office today, but it was an interesting day with Europe getting its liquidity and market rallies. NFLX getting slaughtered after they cut their subscriber estimates and RIMM is getting killed after hours on bad earnings. NFLX looks like it's on a path to being below 100. It looked like there was some decent trading out there too. And it's the 15th so don't to forget to pay your 1040-es. Oh and AAPL got above that top CXbby called. AAPL looks like it's poised for a nice breakout.
New here This is my first post but I have been following this post here for a while. Do most of you guys just day trade more or less? As in holding a stock for less than a week. I pretty much am a stock noob. I just buy stocks and hold them long. I put a valuation on what I think the stock price should be and once it hits it I let it go, which usually takes a while. I also have some dividend stocks to make sure that I have a little income coming in. Oh btw I don't do this for a living this is just a hobby. I am sure what i'm trading is peanuts compared to some of you other guys. I don't understand all the technicals that you guys talk about or anything. Is day trading more profitable than holding long, is it riskier?
You can blow thru money a lot quick in day trading. Just stick with the low risk stuff and buy good profitable transparent stocks.
