The secret of successful trading is to make money from both going long and short-selling. You could do a lot worse than to pay attention to what Terry is doing and learn from him. Take this recent example -
"My reason to cover and take a 8% loss was to use that money which has been dead money for 2 very promising bios.FAR more promising than this puppy you have lost your #$%$ on."
When Terry is Long in an underperforming stock he sells his shares, and uses the money he receives from the sale of the shares to buy shares in more promising stocks.
When Terry is Short in an underperforming stock he buys back the shares he needs to return to the original lender in order to cover his position, and uses the money he spent buying back the shares to buy shares in more promising stocks.
For those of you not fortunate enough to be getting regular advice from Terry by e-mail, pay attention to his trades and do whatever he does.
It seems there are Longs here who are in denial, perhaps reluctant to admit to themselves they've swallowed hook, line and sinker the charade of a half-wit.
If that works for you - fine.
But if you're clinging to the possibility that there's another explanation for his "dead money" gaffe, this was by no means the first time he's demonstrated that a Short trade is too complicated a concept for him to grasp.
Here's another example from earlier this year -
February 8 -
"... short from $7.81 ... Target is 4.80, but I may cover at any time."
February 11 -
"My target is $4.80 but I may sell at anytime."
And here's an exchange from a few years back, where he clearly didn't have a clue that to make a Short trade he would first need to borrow however many shares he wants to sell short (subsequently buying back those shares when he decides to cover, and returning them to the original lender) -
"At best, trade the ±3% daily manipulation, but to spend money borrowing shares to short them... #$%$."
Delusional half-wit -
"who is borrowing money? 1.3 M shares say you dont trade.Ive made plenty shorting Insmed over the years( and I have been long many times too.Because you dont understand it or dont do it doesnt make it BS.Bs is your post."
Great post fudfighter3 - you really cleaned Terry's clock this time!
Give me a shout if you need any help keeping the thread where everyone can see it.
Btw - I think you're really clever. I'm a huge fan of your posts :-)
Fudfighter4??? Hello stranger :-)
Never expected to see you posting here again. When were you discharged from Sharp Grossmont?
Our Evelyn's a bit special, ain't she? She really ripped Terry a new one there, and she always seems to be two steps ahead of the market. I'm up 230% ytd on her tips!
p.s. You've got mail.
Fudfighter3 - found these lying around. Did you lose them by any chance?
[ Time to buy?
Good to average down, especially at these prices,but I suspect lower.
I bought last @7.19, hoping for a trade and a rally,GNTA really never saw it.
Is our bear market rally over? Friday suggested it might be, if volume confirms this week, then have cash to buy this gem.
Still a news driven biotech, there is always chance of a quick bubble to make money also but I stand by my... buy it, tuck it away, don't look!,come back in 2 years
Good Luck to all Longs ]
[ The stratagy works because it is after the fear,the shorts and the ride on the biotech rollercoaster.(NDA,FDA etc)
Analysts ability to "move" a stock will be overtaken by what will be the marketplace in 2 years.(look at post 70's bear market for historical perspective) A marketplace of valuations and earnings.
GNTA IMHO will have them....soooooooooo But it tuck it away dont'LOOK !come back in 2 years
Good Luck to all Longs ]
The "good luck" sign-off sounds familiar .....
Don't often see an investor trusting to luck. It's a risky investment strategy at the best of times, but you may as well donate your money to a good cause as trust to luck with a biotech investment like Genta.
Fudfighter2 - thanks, I wondered where those Genta posts by the DHW had got to.
I found out from Wiki why the Genta board no longer shows a share price -
[ Genta Inc. was a biopharmaceutical company based in Berkeley Heights, New Jersey, United States, which develops products for the treatment of patients with cancer. In August 2012 the company filed for bankruptcy. ]
If anybody on the Genta board followed his advice they will have had a nasty shock.-
[ Still a news driven biotech, there is always chance of a quick bubble to make money also but I stand by my... buy it, tuck it away, don't look!,come back in 2 years ]
Happily the investors who use this forum are unlikely to have paid much attention to this equally clueless prediction by the DHW a year ago -
[ YTD 25% "the short since 7.81......next stop $4 ]
Sure, so those of us who did not buy into Terrys #$%$ over this past year are sitting on $16 shares we purchased at $4 or less. Are you really that dumb? No need to answer. We all got your number.
I very much doubt there is a single Long here still closing his eyes to the proof that the DHW is too dumb to understand how a Short trade works, despite having been telling us all here for years about his fantasy profits from shorting INSM.
That was the third time I drew attention to his gaffe Bo, but I fear I may have once again been too subtle :-(
It's been obvious for years now that Terry's boasting is just part of a fantasy world. But it's now beyond doubt that the Walter Mitty syndrome is symptomatic of profoundly impaired intelligence.
Having bored the pants off investors in these forums for more than fifteen years it's almost unfathomable he's never understood that a Short investment is essentially the reverse of a normal investment.
What sort of IQ must he have that something so basic didn't dawn on him despite all of the discussions in which he's participated over the years?