5 thoughts on “Happy Labor Day ... contest begins tomorrow”

  1. @ Ana

    I hear ya, Ana, and feel deeply your pain.
    And, you're right: I'm too damned old to be a pit bull any longer.

    Actually, even *if* I were suddenly 20 years younger, but still possessed all my experiences, I'd not get involved in the "game" that I believe is the stock market. IMO, it's all pretty much BS on a grand scale. Smoke and mirrors, if you will.

    I say that with some reservations, as our host is heavily invested in "trading" service information, and I don't wish to abuse their hospitality.

    Also, I know people have reaped great financial rewards by trading; however, it is my contention that losers far outnumber winners.

    But again, that's just my opinion.

    I salute your tenacity, your gumption, and your desire, nay your need to succeed, in a frenzied, seemingly to me insane environment! Brava!

    Pardon the pun, but I just can't get it up for day trading. That seems to be where the large dollars are to be made, no?
    It's just too complicated for my pointed little head.

    While watching a PBS program detailing the day in the life of a floor trader, and listening to all their babble, hand gestures, and head nods, etceteras, I was excited by the sheer physical & mental energy that was swirling around in the pit.

    Fast, furious, frantic, frenzied, raw power controlled by tradition & understood secret languages, and I was caught up in the mechanics of it all, and awed by the mystics too.
    I wanted to play!!!!

    When the segment shifted to a commentary by one of the floor traders, I'd scream at my television to get back to the floor because I knew that pork futures were going to fall, and dammit all, I needed to short that commodity!!

    When the segment returned to the floor, sure enough lean pork WAS falling, and I'd made a quick $35,000!!!
    This was destiny, kismet, and a very powerful magnetic attraction. It was as if I'd been waiting my whole life to watch this program, and as I ran downstairs to grab another beer from the fridge, I was calculating how soon I could get to New York, and with how much cash would I arrive.

    When I ran back upstairs, less than 2 minutes later, lean pork had shot back, and I was wiped out.

    I sat there, open mouthed, wondering WTH had happened? I looked at the can of beer in my hand, got good & mad at it, and hurled it towards my open window; only to have it hurled back at me by the nylon window screen, missing my head by a scant few inches.
    Then I began to laugh.

    I walked back downstairs, and down into my basement. I spun the dial on my fireproof safe, opened it, and did a quick inventory of my gold & silver coins, closed the safe, and laughed even harder.

    You see Ana, while I admit that I'm not smart enough to pick stocks, and commodity futures, and all that, I am just smart enough to know my limitations.

    I accept that fact, and am not about to, nor do I need to, prove anything to anyone, including myself.

    Recently I subscribed to INO's "Market Club", and still haven't figured out how to use all its powerful features.
    Just what *is* a trade triangle, or a side line node, or a weak uptrend, anyway?
    It'll be fun trying to figure all that out before my subscription expires, which I won't be re-upping, but that's about it.

    To finance all my whimsical forays into whatever, during the day I run two very different companies, both of which I own, lock, stock, and barrel.
    In good times, one is a cash cow, and the other is still coming of age, after 10 years of beta testing on 3 differnet continents, and someday it will revolutionize the way that ......

    My mentor was fond of telling me the story of two men that had worked together for 18 years.
    The first man had 18 years of experience,
    The second man had 1 year of experience, 18 times.
    Obviously, I strive to be like man number 1.

    All the best to you, and to all the other people that have the desire to become winners!
    --=Jeremy=--

  2. Jeremy, its like reading an autobiagrophy, really. I did all you did, Mutual Funds, Sirius and other loosers including a whole lot of penny stocks. The only difference between you and me is I am now a pitbull. I will not let go! As in I am in the field and will not get ouf of the field until I can read every millimeter of every stock chart that there is on every website. I will conquer, I will succede and make a ton of dough, so that they would write about me on those same sites.
    Regards
    Ana

  3. Did I win? LOL!!
    What did I win?
    I like winning! TIA.

    I'm not much of a trader, and have lousy luck with the trades I've made in the past.
    My first timid entry into mutual funds ($90k worth) looked marvelous for about a year. I'd get really neat statements each month, and it was super to see all the (unrealized gains), and I was patting myself on the back, oh yeah!
    Then gradually, each day's visit to the website saw less & less (unrealized gains) until I started seeing (unrealized net loss) appear in my monthly statements. Now I was kicking myself in the behind, , and finally called the broker, and sold everything.
    Paid all the "early withdrawal penalties, calculated my tax loss, and swore I'd never buy another stock, bond, or anything else like that.

    So, when gold was @ 397.50 spot, I bought it, and took delivery a couple weeks later.
    In 3 months time all my losses from the stock market, as well as all the nasty penalties & tax costs had not only been covered, *but I made a ton of (unrealized gains) to boot!
    Happy fellow was I!!!

    So pleased was I that I purchased even more gold, as well as some palladium bars.

    I still have all my gold, in the vault, but recently I traded the palladium because it wasn't performing well, for gold, and tossed in another $84,500 in cash to get the best price that I could for a blue collar guy like myself.
    Naturally, the very next trading session saw gold spot falling, but the palladium fell even further(and faster), so as of today, I still a winner, and remember I like winning!

    Oh yeah, remember my promise to myself to never again buy stocks because the glare from the mirrors blinds me, and the smoke makes me cough?
    IOW, I'm just not smart enough to pick'em & do anything but lose.
    Well, I broke that promise in January 2006, and paid $5.80 a share for a few thousand shares in Sirius Sat Radio, and naturally, two days later the stock began to fall. I still own it, and today it closed at $1.34 a share. (unrealized loss of $4.46 a share) but I'm holding on to it to see if the very recent merger with XM Sat Radio will boost my shares values. But, considering my past performances in picking stocks, tomorrow all their satellites will probably fall back down to earth, and I'll lose everything I have invested in the now Sirius XM Radio, Inc. Be just my luck for a few of their satellites crash through the roof of my office, and set me on fire.

    So to those of you that can pick winning stocks, a tip of my cap to you. Kudos!
    Me? I'll keep my gold & silver in the vault, and that will be that.
    --=Jeremy=--

  5. how do ya play?

    ---
    O'Neil,

    The contest is to just increase our blog visitor interaction. We hope that talking about market happenings and about specific opportunities in the markets will help our visitors become more comfortable with interacting with other visitors and the blog writers. We just want to hear what you have to say, so any legitimate response will be considered an "entry" and a useful addition to our site.

    Let me know if you have any further questions.

    Best,

    Lindsay Thompson
    Director of New Business Development
    INO.com & MarketClub.com

Comments are closed.