by Gavin M.
The next victim of my painful shorting is JC Penney. Albeit this was more fun whe it was at $11 or so but I think a bottom will form in the coming weeks. I wish to highlight the peak stupidity of the people out there. Yes, I'm heartless. Yes I'm a douche bag. Deal with it. I'm not here to sugarcoat things for you. If you've been buying JCP below $10 expecting a quick rebound to $12 you really need to get your head checked. I mean that in a kindest of ways. It has been manipulated so many times by big institutions dumping that the poor traders and investors are getting creamed. Take for example one casualty today. This person said they made $5,000 buying the bounce from 8.60 to 9. Cool, that's fine. But for that person to be stupid enough to allow all of that gain to be wiped out by doubling down on JCP, is just shtooopid. If you made $5,000 and you wanted to make more, as soon as you are down by 20% (ie $1000), you should've called it quits and be happy with your net $4,000 profits. It's really that simple. The problem with traders is not how they trade. It's how to keep staying green. You can make a million dollars in a day, but what good is it if you're going to lose $900,000 the next day???? You must know when to say enough is enough. Think about that, it might just save you.
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by Gavin M
The cloud above illustrates the wonderful set of adjectives the twitterverse has set for me. First of all, if you're a decent person who is really trying to learn the markets properly, then I sincerely apologize for offending you with my tweets and comments. I want to make it perfectly clear. My seemingly mean tweets are not meant to provoke people. Though my methods are unorthodox and a tad on the rude side from time to time, I do mean well. I make no apologies in speaking the truth about the markets. When it comes to trading, I speak the brutal truth - some may find it offensive and some may find it refreshing. I speak to the latter group of people. The people who, day in and day out, want to convince themselves that the markets are full of honest individuals are the ones who almost always gets crushed by it. What do these people then do? Because they were hurt, they then spread incorrect statements about the markets - "Oh you can never win in the markets" or "the markets are so rigged, no one has a chance." I've got a News Flash for you: The Markets are Rigged. It is rigged by HFTs run by big institutions with a lot more financial firepower than you and me. Now, does that mean you can't make money? Hell no. Just because the markets tend to be manipulated doesn't mean there is no way to make money. You just got to change your mentality and your perception of the financial markets. Society has gone too far with sugarcoating a few things. There is a fine line between tact and pragmatism. The markets are setup so that the ones with the biggest pot gets to move it to wherever they want. That is the main point. The people who try to be CONTRARIAN usually end up in a world of hurt for awhile. Ultimately, will a long term buyer or seller be right? Yes they will but remember the words long term. Trading is not the same as investing. So when I start my spiel on Blackberry or JC Penney, people automatically find it annoying. Heck, even when I talk about Apple or Tesla I get the haters on me like white on rice. I am a trader and I see the market for what it is. When I open up a twitter stream, a message board or any type of financial website, 90% of it is full of utter nonsense and bullsh*t. Do you really think the boys over at Goldman or JP Morgan or Barclays are tweeting what they're doing with that $20 Billion trading money they have? Hell No. The smart money work in the shadows - the dark pools. The smart money manipulate, they are master puppeteers. They operate when you least expect it. I know because I've been there - I used to be a trader for them. I know what slimy tricks they have up their sleeves and I know when they do it. So the next time you read a tweet from some schmuck on Twitter or some john doe on a message board, think really hard if that person actually knows something. I have been called a fake, an asshole, a dick and all the other stuff on the word cloud above. The one thing I will never stop doing is doing what I do. Those who are willing to listen will be enlightened. Those who feel annoyed can always block me on twitter. Besides, my performance speaks for itself. In the end, I leave this advice to you aspiring, new and experienced traders - in the end, the measure of your skills is in your ability to grow your account. It's not how many followers you have on twitter or how many likes you got on facebook. In the end, as a trader, your bottom line is paramount - everything else is useless. At Equity Sense, we help our clients in any way we can, because they aspire to do well. We may not mass market as the other "dudes" in the business, but we will never compromise that which is our strength - our success rate. There is a saying, "It is better to have a few good men than a thousand witless followers." by Gavin M. What to do now? If you're a trader, you'd be very happy. Just BTFD. That's right, if you don't know what that means, just google it. I am not here to even provide theories as to why markets are rallying on a government shut down. In any case, I am looking forward to a prolonged shutdown and the upcoming debt ceiling debate. I want these two storms to merge and create the perfect storm for October. This should set for a perfect opportunity soon. What does that mean? I don't know. BTFD? STFR? Who knows. Don't ask me. I don't know how to trade. In any case, good luck and good hunting! JOIN EQUITY SENSE HERE. |
Multiple AuthorsTraders from Equity Sense will be writing on this blog on positions and other market-related things. Archives
May 2018
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