Lenny Dykstra is one awful trader

Quote from gaj:

more info:

from december 31, lenny's plan is to ride it til expiration:
"want to live on the edge, you can follow me on a trip on the wild side and double-down. Anyone who still owns these options now is a major risk taker and has already decided to be in it for the possible flame-out in three weeks time. So why not go all in and feel the adrenaline rush of a last minute all-or-nothing gambit? Buy an additional 580 contracts for 25 cents or better; lower your average to $1.80."



"After a week in which investors began to regain some of what the market lost in 2008, we are closing in on a win in Amdocs (DOX), whose share price rose 4.4% yesterday"

<b>no mention of selling the position at a loss. </b>


<b>no mention of selling the position at a loss. </b>
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Wow. From all indications, he planned to hold and "double down" right to the end. I can see him holding and waiting for "just a little bit more" and then watching, stunned, as it drops out of sight. Hell, we've all done that. But I hope none of us are as crazy as Nails... :D

Is he telling the truth? Doesn't seem like it. Why did he post after DOX reached the peak that "we are closing in on a win...", but then not mention ANY SELLING? Doesn't make sense...
 
Quote from gaj:

"want to live on the edge, you can follow me on a trip on the wild side and double-down. Anyone who still owns these options now is a major risk taker and has already decided to be in it for the possible flame-out in three weeks time. So why not go all in and feel the adrenaline rush of a last minute all-or-nothing gambit? Buy an additional 580 contracts for 25 cents or better; lower your average to $1.80."
More...

"want to live on edge, you can follow me on a trip on the wild side and double down. Anyone who still owns these options now is a major risk taker and will be sleeping on the streets of Vegas soon."
 
Quote from NoDoji:

"want to live on edge, you can follow me on a trip on the wild side and double down. Anyone who still owns these options now is a major risk taker and will be sleeping on the streets of Vegas soon."
More...

hahaha :)
 
Ummmm Lenny Dykstra was a steriod head in baseaball, hence he CHEATED to make a living.

SO WHATS THE FUCKING SUPRISE THAT HE'S CHEATING AT THIS PART OF HIS LIFE TOO!?

FURTHERMORE, WHY THE FUCK ARE YOU IDIOTS EVEN GIVING HIM THE TIME OF DAY?!!??

PEOPLE ARE FUCKING RETARDS FOR REAL.

And this from an 86 Mets fan.
 
Quote from bxptone:

FURTHERMORE, WHY THE FUCK ARE YOU IDIOTS EVEN GIVING HIM THE TIME OF DAY?!!??
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because he's got a large platform with thestreet.com and he's not being truthful about his record.
 
Quote from gaj:

because he's got a large platform with thestreet.com and he's not being truthful about his record.
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I thought that Lenny was a career .285 hitter, no?
 
Lenny was profiled on the HBO show "Real Sports with Bryant Gumbal"; for those of you that did not see it, i twas a complete fluff piece that built his trading up when he earned most of his money from buying and then selling a car wash chain (55 million profit).

My point is the general public saw his Maybach and 17m house and he said he learned all from reading newsletters, after Goldman lost 2m of his money. I believe this makes the public think trading is easy, enters the market and most lose and you have increased liquidity and profits.

If nothing else he is probably an inverse indicator.............Cramer endorses him. I respect Cramer's work up until "Mad Money", which in the past people would take recommendations w/o doing any research.
 
someone sent this to me:

http://adamsoptions.blogspot.com/2009/01/this-week-in-lenny.html#disqus_thread


the big quote:

<b> The portfolio of Nails on the Numbers has been updated Friday, Jan. 30, to reflect the most conservative accounting of the Amdocs (DOX:NYSE) position which was initiated by Mr. Dykstra on June 16, 2008.

Mr. Dykstra initiated the Amdocs trade before Nails on the Numbers was licensed to TheStreet.com. In an effort to be transparent, all of Mr. Dykstra's trades -- including Amdocs -- were included in the Nails on the Numbers Web site that is hosted by TheStreet.com. Through his Nails on the Numbers alerts, Mr. Dykstra regularly updated subscribers on the progress of the Amdocs position.

Late last week, the archive portion of the Nails on the Numbers Web site listed the Amdocs trade as closing Jan. 7 with a loss of $21,550. The Amdocs entry should have stated that the trade expired on Jan. 16 with a loss of $201,350.
</B>

apparently, tons of people were complaining to TSCM about the dykstra - umm - debacle.

and i love THIS one...he's a paper trader!
<b>As per theStreet, Lenny does not actually trade what he recommends.</B>
 
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