CNBC - Cramer's Mad Money

Why would you not believe me? I have no reason to lie.

I've been shorting Cramer's picks only to find it necessary to triple the position on the open to get back to even.

For example I shorted 3500 TEX Friday at what turned out to be bad prices--an avg of 49.40. I shorted another 9,000 at an avg of 50.50 before the indication today --51x54. I shorted 38,000 on the open at 52.20. I eventually made about $8,500.

I see NOV is up after the close due to his comments on his website or radio show but I can't borrow this stock right now.
 
Quote from bestfriend:

Why would you not believe me? I have no reason to lie.

I've been shorting Cramer's picks only to find it necessary to triple the position on the open to get back to even.

For example I shorted 3500 TEX Friday at what turned out to be bad prices--an avg of 49.40. I shorted another 9,000 at an avg of 50.50 before the indication today --51x54. I shorted 38,000 on the open at 52.20. I eventually made about $8,500.

I see NOV is up after the close due to his comments on his website or radio show but I can't borrow this stock right now.
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so you were short 2 million work of stock eh?
 
Quote from bestfriend:

Why would you not believe me? I have no reason to lie.

I've been shorting Cramer's picks only to find it necessary to triple the position on the open to get back to even.

For example I shorted 3500 TEX Friday at what turned out to be bad prices--an avg of 49.40. I shorted another 9,000 at an avg of 50.50 before the indication today --51x54. I shorted 38,000 on the open at 52.20. I eventually made about $8,500.

I see NOV is up after the close due to his comments on his website or radio show but I can't borrow this stock right now.
More...
The tendency to make outlandish claims and boasts on anonymous message boards is well known. I have no independent research to know whether or not you're one of them. Like the other poster stated, you claim to have shorted $2M worth of stock, I find that not to be credible.
 
C'mon guys. I'm sure there are people like that on ET. I'm not one of them. There are also guys on these boards, lurking or posting, who make millions per year (as in $10 million +--not me). They like to hear what people have to say.

FYI, I have been a prop trader for 7 years. I have $30 mill in buying power, so I really concentrate on risk and not the $ involved.

After the close today I shorted 12,000 PG at an avg of 55.87 and

8635 CHK at an avg of 27.24. I'll try to buy in the PG or buy their merger partner Gillete at the open. I think CHK is up too much.

Sorry, I was trying to attach the trade blotter but I obviously don't know how.
 
Quote from bestfriend:

C'mon guys. I'm sure there are people like that on ET. I'm not one of them. There are also guys on these boards, lurking or posting, who make millions per year (as in $10 million +--not me). They like to hear what people have to say.

FYI, I have been a prop trader for 7 years. I have $30 mill in buying power, so I really concentrate on risk and not the $ involved.

After the close today I shorted 12,000 PG at an avg of 55.87 and

8635 CHK at an avg of 27.24. I'll try to buy in the PG or buy their merger partner Gillete at the open. I think CHK is up too much.

Sorry, I was trying to attach the trade blotter but I obviously don't know how.
More...

I think both of those shorts will hurt you.
 
Kevin, you may be right. It certainly wouldn't be the first time.
CHK is offered at 27.17 now and PG at 55.90. I've been wrong many, many times in 7 years.

I've been short STN since 67 and was down $15k on it until the last 2 days; now I'm down 4,500. I have been short 3,500 SPY for quite awhile. I think the loss in July was around $11k or $14k. Still, I managed to have a good month. I was short 22,000 PHS at 82 when it was halted and reopened at 78. I had shorted on ARCA when the merger news hit. My short was $9 above the last sale on the NYSE. So, it's been a decent 6 weeks or so.
 
chk is not a cramer bet, its an oil bet and if oil is up the stock will run. pg will likely be upgraded tomorrow.
 
Kev,

CHK ran 70 cts on Cramer's shtick.
PG ran about the same and there's 174,800 offered in the book at $56.
The order has been there for several days.I'm simply betting that I can either buy PG below the price at which I shorted it, or buy Gillete at less than up 70 cents.
PG has a pretty low beta so I'm not taking that much risk.

I agree that if oil is up CHK is likely to rise, but I'm taking the risk that selling the stock up 70 cts from the close is enough of an edge.

I've been doing this a long time, but like I said, I may be wrong.

You seem pretty negative on these positions. I didn't think I could find anyone more negative than myself !
 
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