I was short some at 9, and covered at 10, thinking that this trade had ruined my day. When I checked back later and saw it was trading at 20, my day was considerably brightened. :)
I've been trading for many moons and the pop in early January 2001 (I believe it was the 3rd like mentioned previously) stands out in my mind. It was largely unexpected and a great deal of people were short the market at the time. Luckily I was flat, but the panic buying/covering was incredible.
I already have CyberTrader and their quotes/charts are good enough for what I do. However, I am looking for a news feed (DJ News Wire, etc.) Is it possible to buy just a streaming news feed, and not a news feed included with a quotes package (like with Esignal). Or does CyberTrader have a news...
I think I remember how this all started. One particularly bad afternoon for the markets (must be two years ago now), Hoenig posted something on thestreet.com (when he was writing articles for them), about how he was sipping wine or something cause his Nasdaq futures short was making a ton of...
This is basically the entire crux of my trading strategy. The direction of the markets has absolutely no influence on my trading decisions. Sure, some days a strong market may help/hurt my positions and vice versa, but over time I have found it evens out.
Another classic was ADSP, that short burnt a ton of people, ran from like 2 to 52 in and around the '99 Thanksgiving weekend (I believe it was '99)
Or who can forget CMGI buying Raging Bull for something close to 100 million dollars? That's kind of funny in retrospect as well.
Some memorable moments for me from the bull market:
1) $400 target on Amazon.com
2) EBAY going up something like 120 points in one day before a split
3) The whole "stock split" phenomenon.
4) theglobe.com and thestreet.com IPO's (epitome of overvalued IPO's)
5) CPIH running from...
I do pretty much all my trading in the first 30 minutes of trading. I'd say 70% in the first 30 minutes, 20% in the last 30 minutes and 10% in between. Been trading for many moons.
I guess I'm just looking at a stock like AMD. It seems like anytime a company announces bad news that takes the share price under $5, the selling pressure seems to be multiplied. Will see how this one acts tomorrow, but if the trend continues, it'll probably close lower than where it gaps down...
I've heard that some institutions (mutual funds, etc.) "aren't allowed" to continue holding stocks that are trading under $5. I've heard this talked about quite a bit, and was wondering if there was any truth to it. I know there are different types of funds, but let's say we have a big cap fund...