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- Thread starter BSAM
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It never got better, did it.I always wanted to be a Livermore: not necessarily stinking rich, but able to live without employment. I actually attempted to walk off my job back in 1997, but of course I blew out. Now, sixteen years later, it looks like I may finally be able to do it. I'm sooooooo close.
Livermore used to have dinner and drinks with famous gambler Ed Bradley at Bradley's Florida casino. They would toast each other: "To those who live by their wits."
And if it doesn't work out there's always the .32 caliber to the temple....
Notice how he lost his edge when everybody else caught on to his methods. I don't think it was necessarily that they learned what Voulgaris was specifically doing, it was more likely the "hundredth monkey effect," where everyone seems to pick up on what others are doing.
I have a scan where I look for stocks rising on subtle volume, and I used it profitably for a while. About '05 and '06, I started noticing that the stocks that were in my scan were also being mentioned on Motley Fool and then Jim Cramer. Of course, they didn't hack into my database and steal my scan, but how was it that all my stocks were gradually being mentioned on these websites when I had never noticed it before? It's just the hundredth monkey effect, and I probably was not even the first monkey to use it.
BTW, have you guys noticed how much less significant Cramer is now compared to the old days? There used to be a "Cramer effect" when he would mention stocks on his show. That stuff doesn't happen anymore.