Oh the shame.

11 May 5:36am
Posted by zenoizen
2 Comments
I did a nice job of losing 100k today.  But I didn't do it on my own.  It took  a triple-digit down day to knock me down.  I should have shorted that DNDN!

The silver lining is that I managed to buy a bunch of stuff on the cheap.  I think I'd better leave this portfolio alone for a week or so.  The markets should be somewhat recovered by then. 

And let's hear it for dmg818.  Six million bucks!  Loan me a twenty?

-z

Comments

Back to top

Post comment

ishmiel
Still in third place on the leaderboard. I think your short on New Century Financial still ranks up there for top shorts.
Posted on May 10, 2007 @10:54pm
zenoizen
dmg818's 6-million dollar short seems not to have stuck. Guess the game is still afoot.


An observation:

The thing about short trades is that if you play a lot of them, one of them is going to hit. It's can be a lot like gambling. Of course, you can't make a lot of money short selling unless you stake lots of borrowed money. And that makes it even more like gambling.

The point I think I'm getting at is that I don't think you can really double your holdings on bullpoo with long trades. You can creep your way up by tens of thousands of dollars. Possibly even hundreds of thousands. But to break two-million, you've got to put up a couple million in borrowed money on short plays.

If I'm not mistaken, jrtowell shot up to #1 by shorting VG.
Posted on May 11, 2007 @1:58pm
Back to top

Post a comment

Please login to post a comment

About

zenoizen

Current strategy...

1. Reduce losing positions. I've got a slew of stinkers in my portfolio. Many of them are down simply because everything is down. Thing is, I need the cash to pick up a few things that I'm sure are due to move upwards. So, I'm taking some losses to get the needed cash.

2. Buy. Markets are down, but there's no doubt that there is going to be some general upward movement over the summer of 2008. I'm concentrating on ETFs to get the built-in diversification. Plus, I'm also trying to find ways to play different commodities and currencies etc. that will probably gain a few percentages... looks like corn, coal, the dollar and interest rates are the way to go right now...

3. Wait. A lot of the "crap" I'm holding is actually undervalued, and ought to return over the next quarter or two. My excessive shorting of QID will most likely be mitigated in the medium term. Time heals all wounds, they say. Hope they're right!

Recent Entries