High Probability Trading: How to lose Money
Why would you want to lose money in GTA?
Sunday, October 26, 2008
Monday, June 23, 2008
Spring Update
Here is a quick spring update of my investing and a couple of links that I've found. I have held my RIMM and AAPL shorts which have hurt me badly. This coming off a huge loss from hanging on to BMO over that "credit crisis".
Even though my portfolio has been terrible and I've been crippled I've hung on and made some good trades, most recently buying BCE before the Supreme Court ruling. I've also been added to a Yellow Pages YLO.UN holding as it goes down (the yield is pretty much too good to be true.
Some links that I've found interesting:
You can create a boiler plate resignation letter if you care to join the mass exodus at Yahoo YHOO here.
This guy has put his life up for sale on eBay.
Even though my portfolio has been terrible and I've been crippled I've hung on and made some good trades, most recently buying BCE before the Supreme Court ruling. I've also been added to a Yellow Pages YLO.UN holding as it goes down (the yield is pretty much too good to be true.
Some links that I've found interesting:
You can create a boiler plate resignation letter if you care to join the mass exodus at Yahoo YHOO here.
This guy has put his life up for sale on eBay.
Sunday, April 20, 2008
I would be better off in a savings account...
Thats right, it has been a horrible year for investing. I have to do my tax return in the next week and I will actually have capital gains to declare and pay tax on. But in 2008, I have a sad feeling that I'll be going back and applying my losses to those 2007 gains.
I've already told you about the big loss that I took on BMO. Right after I couldn't handle the pain anymore, BMO bounced up! While it is still below where I purchased it right now (when I sold it my average cost was $52), I started purchasing in the $60's. When it got to $38 I couldn't take it anymore.
What have I done since then? Well, I've made some good trades but never made back nearly as much as when I have a losing trade. It is very frustrating watching two winners like Visa (NYSE:V) and Yellow Pages (TSE:YLO.UN) do well for me, only to lose 3 times that amount on my Apple (NASDAQ:AAPL) short.
Speaking of which, everyone assumes that AAPL is going to blow earnings out of the water on Tuesday. If thats the case, I'll probably have my first margin call and my brokerage account will be screwed! Great! However, I will have to hand it to AAPL if they do. I just do not think they can keep up this growth pace. People who buy Mac's can use them for a very long time. They've already hit the student market - those students are dishing out multiple thousands for another over priced machine. I just don't get it. Hopefully everyone is wrong about AAPL - just like they were when Google (NASDAQ:GOOG) reported earnings.
Speaking of which, I was considering buying GOOG going into earnings as a hedge against AAPL but then I thought that was a dumb idea, ugh, always on the wrong side of the trade lately!
I've already told you about the big loss that I took on BMO. Right after I couldn't handle the pain anymore, BMO bounced up! While it is still below where I purchased it right now (when I sold it my average cost was $52), I started purchasing in the $60's. When it got to $38 I couldn't take it anymore.
What have I done since then? Well, I've made some good trades but never made back nearly as much as when I have a losing trade. It is very frustrating watching two winners like Visa (NYSE:V) and Yellow Pages (TSE:YLO.UN) do well for me, only to lose 3 times that amount on my Apple (NASDAQ:AAPL) short.
Speaking of which, everyone assumes that AAPL is going to blow earnings out of the water on Tuesday. If thats the case, I'll probably have my first margin call and my brokerage account will be screwed! Great! However, I will have to hand it to AAPL if they do. I just do not think they can keep up this growth pace. People who buy Mac's can use them for a very long time. They've already hit the student market - those students are dishing out multiple thousands for another over priced machine. I just don't get it. Hopefully everyone is wrong about AAPL - just like they were when Google (NASDAQ:GOOG) reported earnings.
Speaking of which, I was considering buying GOOG going into earnings as a hedge against AAPL but then I thought that was a dumb idea, ugh, always on the wrong side of the trade lately!
Friday, March 21, 2008
Down but not out...
I've taken my loss on Bank of Montreal (BMO) so that I could free up some capital for the Visa (V) IPO on Wednesday. That has been pretty successful but it really hurt watching BMO fix its problems in 3 days and surge like it did! Oh well, can't dwell on that now.
Speaking of dwelling on bad decisions - after investing in Bear Sterns (BSC) on the Friday when it fell to $30/share, I was able to hold the next week until it went to $7. After that I was able to short it down to $5 and make some of my money back.
Not sure what next week holds but I'll be looking to put the rest of my capital to work and sit on it for a week while I go on vacation.
Speaking of dwelling on bad decisions - after investing in Bear Sterns (BSC) on the Friday when it fell to $30/share, I was able to hold the next week until it went to $7. After that I was able to short it down to $5 and make some of my money back.
Not sure what next week holds but I'll be looking to put the rest of my capital to work and sit on it for a week while I go on vacation.
Sunday, March 16, 2008
Bear Sterns (BSC) closing in on deal to sell itself to JP Morgan
Well, I tried to catch a falling knife on Friday by buying BSC after it dropped almost 40%. I got in at around $34 and now the news that the sale to JP Morgan. However the analyst says "Terms of the deal were still being hammered out Sunday afternoon. Reflecting the dire situation at Bear, the company is likely to fetch considerably less on a per-share basis than its stock price of $30 in New York Stock Exchange composite trading Friday at 4 p.m."
Ouch!
Ouch!
Saturday, March 15, 2008
BMO continues to kill me
My position in BMO has crippled my portfolio. I have started to take on risky stuff like yellow pages and going bearish on oil to try to make up for it.
Sent on the TELUS Mobility network with BlackBerry
Sent on the TELUS Mobility network with BlackBerry
Saturday, March 1, 2008
This market is hard to make money!
It seems that the stocks I went long on are going down and the stocks I went short on went up! Hard week for sure. Hopefully it gets better.
Sent on the TELUS Mobility network with BlackBerry
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