Don's openings and more for 2005

Quote from spunkylives:

Don in looking at your trades throughout the year it appears that your profits are quite small. I mean 200 one day 185 another day. I am quite confused I thought with all your knowledge you would be raking in a lot but I actually feel that in reading your posts you probably ended the year in the red. Only a 2005 tax return will demonstrate your real results.
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I have persoanlly stood behind Don and seen an OPG loss of multiple thousands on a stock. Of course that day's results were never posted. I would agree that unless he can prove otherwise you are correct in your assessment that he probably ended the year in the red.
 
Quote from keafan:

I have persoanlly stood behind Don and seen an OPG loss of multiple thousands on a stock. Of course that day's results were never posted. I would agree that unless he can prove otherwise you are correct in your assessment that he probably ended the year in the red.
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that is a strong statement. you just accused don of selective posting. since don posts almost every day and since you claim you observed don lose multiple thousands on an opening and he never posted those results you should be able to remember the date. back up your claims. tell us the date and we will search the archives and find out.
 
I think it was in June of 2003. The stock was freddie or fannie on a big gap down and crater. I was there and saw him down 7k on it. also this year on the short GM trade but i was not personally there. his post was something to the effect that he was short GM and he would post when the finally tally. If you look at the chart of GM intraday it would have been impossible to lose less than 3K in it taking the time of his post as being he was still short. he never posted the result and several people questioned it at the time. His compliance officer should be on top of it. not sure why she isn't. maybe the SEC will get on top of it sometime and compare his published numbers with what he actually did and they will see the selective posting. Some of us on this board have pointed it out before but it is not within our capabilities to see the actual numbers. Bob is the one that should be approving Don's posts and questioning him when he 'forgets' to post. Bob is the one with the most to lose if Don's marketing goes afoul of the regulators. Bob is one of the most honest people I have ever had the pleasure of meeting. Unfortunately, I am unable to say the same about his brother. If Don was just a trader posting then who cares but he is a Principal in a firm and is using this forum for marketing.
 
don posted several losses in june 2003. this seems to be the one you are talking about. looks like he posted a loss to me.

06-17-03 09:46 AM

Thursday OK, $420....Friday I missed the opening. Monday down $1500 (but kept trading and made it worse! (yes, it happens)....Tuesday about break even.

Regrouping the stocks, getting rid of FNM and FRE for a while until they get past their accounting troubles.

Don

06-19-03 09:29 AM

Lost $240 (12 cents).....tough week....

Don



Quote from keafan:

I think it was in June of 2003. The stock was freddie or fannie on a big gap down and crater. I was there and saw him down 7k on it. also this year on the short GM trade but i was not personally there. his post was something to the effect that he was short GM and he would post when the finally tally. If you look at the chart of GM intraday it would have been impossible to lose less than 3K in it taking the time of his post as being he was still short. he never posted the result and several people questioned it at the time. His compliance officer should be on top of it. not sure why she isn't. maybe the SEC will get on top of it sometime and compare his published numbers with what he actually did and they will see the selective posting. Some of us on this board have pointed it out before but it is not within our capabilities to see the actual numbers. Bob is the one that should be approving Don's posts and questioning him when he 'forgets' to post. Bob is the one with the most to lose if Don's marketing goes afoul of the regulators. Bob is one of the most honest people I have ever had the pleasure of meeting. Unfortunately, I am unable to say the same about his brother. If Don was just a trader posting then who cares but he is a Principal in a firm and is using this forum for marketing.
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I will say from being there he never cut the opening position for a 1500 loss as he posted and instead kept adding to it. Go back to his post earlier this year about how he worked out of a bad OPG position on IBM. He was so proud of it. Yet the days that he gets slammed he fudges it and the day in 2003 the 'fudge' was $6,000. Draw your own conclusions.
 
I agree unless it can be proved otherwise he end in the red in trading. Only a 2005 tax statement will prove otherwise. The fact that there are so many shop promoters and those working for shop owners on this board I am ready for the critics to start flowing in. I say to them show me the money (2005 tax returns) or just shut up.
 
Quote from spunkylives:

I agree unless it can be proved otherwise he end in the red in trading. Only a 2005 tax statement will prove otherwise. The fact that there are so many shop promoters and those working for shop owners on this board I am ready for the critics to start flowing in. I say to them show me the money (2005 tax returns) or just shut up.
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Oh, if you say so, it must be true. Why does he have to show you anything? Where's your tax return, highroller? It makes zero sense for anyone to post a tax return on this site.

I agree that you have to take whatever anyone says on here with a grain of salt, but Don does a lot to try and help new traders as well- read some of his other posts. Of course he promotes his company- he's a businessman and a paying advertiser of the site.

If you don't believe what he posts, or you want to believe that he actually lost money this year trading this strategy, that's fine. Why bother posting? No reason to come onto this board and post negative things- sounds like you have some sort of vendetta against Bright....

And no, I'm not affiliated with them in any way, nor have I ever been.
 
spunky...

crawl back in your hole...

don has been most generous with his information...

i learned this strategy from reading his posts and you can check my posts and see as i progressed i became profitable with it...

it works because i put in the time and effort to make it so...

i took the idea and made it mine to suit my risk profile and trading style...

i do it a bit different than most but the basic frame came from don and other posters...

keafan...

to bring up losses from two years ago shows how asinine you really are...
 
Quote from chiguy:

keafan...

to bring up losses from two years ago shows how asinine you really are...
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A poster was talking about the possibility that Don lost money this year on this strategy based on the p&l that he posts on this thread. My comment was from an actual experience I had when what he posted on the thread was not correct. I know of many other instances when what Don has posted was not correct but I did not SEE them first hand, therefore they are hearsay. The point is that you cannot add up what Don posts on the board and expect to come to a meaningful conclusion as to whether he makes or loses money with this strategy the way he trades it. Lots of people make money with this strategy and were doing so before Don was ever trading. Too many newbies on this board think he came up with it and is doing a service by showing others how to use it. The single price opening rule on the NYSE has been around for decades. There are other NYSE rules that are successfully exploited to make money every day by some of us. Why don't you give us some specific examples of when you have seen firsthand that what Don posts is correct 100% of the time. That would end this once and for all.

I'm surprised an ET moderator would call the writer of an honest post asinine. I assume you used that logical fallacy because Don puts $$ in ET's pocket and I don't?
 
Okay guys let's keep it friendly as we wrap up the year. If you have specific claims to make about 2005 then make them (enough of this nonsense about some uncertain thing that might have happened in 2003 and you're not really sure when....) But no hints, rumors, or insinuations that can't be backed up with facts. Otherwise let it go, move on, and let's start the year 2006 on a fresh note. Thanks.
 
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