Not a bad day considering I spent most of the day working on an epic blog post at my GoodeValue.com blog.
Daily profit: $1536.35
Disclosure: Long 7000 PNGM that I intend to sell at the market open tomorrow. No positions in any other stock mentioned. This blog has a terms of use and you can find all my disclaimers and disclosures there as well; my full terms of use is incorporated by reference into this post.
That covestor confusion segment was funnyass shit!!!! 🙂
oh Covestor you are so silly sometimes
liked the bit on Goodevalue. Did you email that buffoon back?
I bet you never hear from him again. He was blowin smoke and trying to see if he’d get lucky imho.
The $200 I spent on consulting my lawyer before that blog post was definitely worth it. 😉
Not liking the -100% return on Covestor for me right now. lol
haha that is money very well spent !
To be honest the main reason I mess with penny stocks at all is the comedy is easily worth risk. 🙂
BTW totally off topic. But what’s your thoughts about Dan Zanger?
The man seems like levers to the hilt to me.
Anyway I’ve been reading the new Jon markman version of Reminisces of a stock operator (it’s really really good, Markman adds a ton of value through all his historical commentary. I highly reccommend that version of it).
For some reason upon this reading of the book ( I couldn’t help but think how much Zanger’s style (while an obvious IBD CANSLIM derivative) and performance shared a lit in common with Livermore…
I don’t know much about Zanger’s early years, which interest me more than what he does now, I do know he had it timed right (99 was a fun year for anyone with a pulse) and played lowfloat/high earnings stocks. But I figured he must done something else as well in terms of leverage/money management beyond the obvious.
Pradeep Bond over at Stockbee is a favorite of mine and he seems to like Zanger: http://stockbee.blogspot.com/2010/01/what-color-is-dan-zangers-underwear.html
Otherwise, I don’t care about him. I have my niches now and I do well in them. There is no point in me trying to learn to play other people’s games too. 🙂
Thanks for your two cents
That’s a good point about knowing you own niche. I think mine is different than yours which is why you don’t see me in chat 🙂
It does seem like every market players spends a couple years finding what works for them.
FWIW Superman I think is using a bastardized version of Zanger’s early days.
oh and btw thanks for turning me onto stockbee with your post about ZRBA a couple months back (btw did you see they just got bought out at 9.00!). I’ve found his blog to be very helpful.
Michael,
No mention of DEAR today? It is either a supernova (btw, what constitutes a supernova in your book?) or one glorious pump. Looking forward to hearing your thoughts on it.
Thanks!
DEAR was up on earnings. Anyway, the trade recap is what I trade and I didn’t trade DEAR. It will be in the watchlist.
OH DEAR.
I have no clue if Pradeep of Stockbee makes money. But he is smart and is a great teacher imho. BTW, I love today’s post on memory types, considering that was my focus in grad school.
I don’t know if he makes money either. But I’m not interested in copying someone else’s picks anyway. It’s why I don’t subscribe to things like TimAlerts. I’d rather be on my own, I don’t like being dependent on anybody. They could die, they could lie, they could pull their stuff, and you can’t pass that onto your kids etc etc etc.
I prefer to learn methods/insights/thinking patterns which as you said Pradeep is very adept at doing. That’s why I like his blog so much. (Yeah I liked his description of implicit memory today too, perhaps the best advice I could give a younger version of me is to just observe markets everyday for year or so before I started)
Thanks for the caution though.
Anyway Reaper I do hope you write your own “Reminisces of a Reaper” someday. You are a talented writer and your evolution/doggedness to your craft would make for an interesting story I think. Being buds with Sykes I’m sure could give you some colorful anecdotes. 🙂
OT: I think “Floored” could be a fascinating documentary when it comes out. (It’s about floor traders, a dieing breed as you well know)
flooredmovie.com
http://www.youtube.com/watch?v=lW37sEkXMMc
I’ll be sad if Floor traders go completely extinct, they add a lot of flavor to the markets.