Well, I took 14 picks from three market gurus and found 6 trades, however, all these trades were for longs. The reason is, the market gurus picks were for stocks to buy for your portifilo. Some of these picks were just flat out sells, which reminds me of watching CNBC one day when a fund manager was talking about how great "his" portifilo was doing, the empty suit asked him, "Well what do you recommend our viewers buy?" Smuckers Jelly the reply came back, and instantly I punched it up using the base system I will showing at the workshop in two weeks. IT WAS THE BEST LOOKING SHORT I HAD SEEN IN A WHILE!!!!!!!!!!!
Why would someone come on CNBC and tell everyone to buy a stock, because the bastard wants to get out of the stock at the best price and needs sucker like us to pile in.
So out of 44 stocks that 3 gurus had picked, only 6 were any good to buy and only one of those stocks was a nice winnner.....So do you follow the gurus or do you start to find your own path?
I did talk about "V" (Visa) and selling October 75 puts for around $5.00 give or take a couple of cents back on September 4th. For those of you who read this blog at the time, must have thought I had lost it. Well, today it closed at $11.60. Now this doesn't sound like alot.....but in 14 days this pick is up about 230 percent.
Now for me, that is one HELL OF A BASE SYSTEM......are you coming to workshop there are still a few seats few...... :)
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3 comments:
Dennis,
you 'called' a nice V trade, but obviously messed something up here:
'I did talk about "V" (Visa) and selling October 75 puts for around $5.00 give or take a couple of cents back on September 4th. For those of you who read this blog at the time, must have thought I had lost it. Well, today it closed at $11.60. Now this doesn't sound like alot.....but in 14 days this pick is up about 230 percent.
'
*wisecracking* If you sold October 75 Puts, the trade would be dark red. And the way up from $5 to $11.6 is not 'about 230%', but 132% :) *wisecracking*
Dennis ,..
Your comment, "... because the bastard wants to get out of the stock at the best price and needs sucker like us to pile in."
I would have to say understanding this concept is step one in the learing curve for traders.
Always enjoy your post.
cj
Well, I weren't an English major in college and I also weren't a math major either.
But I did learn a few things about poker and domestic beer......and how to know when I was about to get dumped on......
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