by Gavin M.
Even with all the coked up sex I get every night, and all the hundred dollar bills raining on me daily, what still keeps me going at this tender age of.... 32? Simple - success.
I have hit my number, I literally can live off of selling options weekly or selling covered calls. But why do I still stick around? Because it's a rush for me. It's the closest I can get to an adrenalin rush daily - seeing how my trade strategies play out. People then say, "oh you have gambling tendencies". I don't. When you're at a casino, it's an All or Nothing play. When you are trading, it's All or something play.
But let's really tackle this for everyone else. What keeps you going? What keeps anyone going? Family? Kids? Love? Money? There is always a driver - an inspiration to continue to achieve our goals. When you are in trading, you have to find that drive and hang on to it. It is an addiction. I know because I am addicted. I cannot go an hour without checking the markets.
Even though I don't need to trade every day, every week or even every month - I do it because it's fun. I do it because it's always new every day. I do it because it's exciting - it is not monotonous like a normal 9 to 5 job sitting in a 6 x 6 cubicle in an office.
Not everybody is cut out to be a trader. But, every trader is cut out to be profitable. You have to find the fuego within you.
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by Gavin M
TWITTER IPO tomorrow. Square IPO coming up soon. Are we seeing a resurgence of 2001?? I'm not a doomsday person but when unprofitable companies seek public funds in order to further whatever bs business models they have, it's always suspect. But who knows, the same was said about Google back in 1999. Pundits even called it absurd to pay $100/share for an internet search engine company. We all know how that has turned out 13 years later.
Perhaps the most idiotic thing I always read are the people still in BlackBerry. People buying at the current levels. If you have months and years of patience, then by all means go for it. This company is in total denial. It had a grand chance to get bought but did not take it. While I will admit Fairfax had a hard time to pony up the funds for BlackBerry, the company should have really gone for it.
What we have now is another $1 Billion lifeline and we know how badly this is going to end. Of course, the ultra optimists are going to hope against hope that BlackBerry will somehow increase their profits out of nowhere. I seriously think BlackBerry is dead. It has no hope to ever get back up, ever. You heard it here from me, Gavin, on Nov 6, 2013. So you can look back sometime in 2014 that I made this post early to predict BlackBerry's demise.
Sadly, I'm a momentum trader. This means I don't have time to put on a directional short on BBRY for months. I will wait until they are almost out of funds then I will time my shorts for efficiency. Until then, I would not touch BlackBerry here even with a 6-foot pole. I would not buy or short BlackBerry. I will just wait for it to start dying. Fret not, I will be back to short this sonbitch. It has been the best short I've ever done for 2013 and I cannot be more thankful.
Enjoy Twitter tomorrow. This will be the next in the docket to short just like Facebook.
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To all the haters of mine on twitter and the rude comments on my blog about BlackBerry, the image above is for you.
Well, as I have said time and time again, the only direction BlackBerry is going is down. You really think this John Chen guy is going to turn the company around?!?! I don't know who this John Chen guy, and I truly don't care. BlackBerry's main problem is not the CEO, it's the mindset and strategy within the company. If you cannot turn around the core beliefs of the company, you are not going to make believers out of anyone out there.
Quoting John Chen, "It's going to take time and discipline to reclaim BlackBerry's success". I think we all are familiar with how long it took Apple to get back on track. Apple almost went bankrupt in the early 2000s before Steve Jobs had the iPod idea.
I am going to go out on a limb and say BlackBerry is DONE. I don't care if someone will tell me I was dead wrong years from now. BlackBerry is going to be doing a Nokia for awhile. Nokia stayed below $10/shr for years and the only saving grace for BlackBerry will be a buyout.
I said this before, I will say it again, Prem Watsa already knows he lost money on BBRY as his cost basis was $40/shr. So why would he add more to his misery by buying BBRY at $9? Why not let BBRY burn through its cash reserves and buy it at $3 or $4, 6 months from now? I know I would. Smart people never pay the sticker price - only idiots do that.
I know that I have been quite rude when it comes to my tweets and comments on BBRY. The hope was to wake the plenty idiots out there still believing in a company that's way past its prime. In any case, you buy BBRY at your own peril.
Best Comments I've got:
"Gavin you're an idiot. Your country is bankrupt" --
"The only clients Gavin has are the ones who are losing money" --
"Stay away from Canadian businesses. You don't understand how BBRY operates" --
"You're a crackhead LOOOOSER" --
"You're going to be bankrupt come Monday you stupid as Swedish mofo" --
.... So who had the last laugh guys??? hahahahahahahaha
Sentiment: STRONG SELL Again and Again and Again
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