Reminiscences of a Stock Operator - General Conditions

Quote from Ironplates:

I like this statement:When the student is ready, the teacher appears. (the quality of the teacher seems important)

When we put aside pride and aim toward humility additional perspective may be seen. With such a perspective we may see things more for what they are rather than what we want to see.

a favorite quote from Loeb:

that which is easy to buy and hard to sell will fall in value.

that which is hard to buy and easy to sell will rise in value.
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Wasn't it in Operator where the tipster was shocked when the tippee shorted two large lots of the targeted security? And when both went off short without a hickup, he bought them back, and went long a multiple of that initial position?
 
A large trader (the tipeee in your parlance) sold two lots of 10,000 shares each to see how the market absorbed both lots. Following the second sale he was convinced there was a commited buyer out there and covered the 20,000 share short and bought an additional 10,000 holding 500 shares at the average price the 10,000 shares cost him for the tipster.

The way the market absorbed the second lot convinced him the game was on and being long was the place to be.

Quote from flytiger:

Wasn't it in Operator where the tipster was shocked when the tippee shorted two large lots of the targeted security? And when both went off short without a hickup, he bought them back, and went long a multiple of that initial position?
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Are u going to try this with ES? Sell 10,000 lots and see if they go quick, if so sell another 10,000 to make sure there's a bull market? :D
 
Quote from Visaria:

Are u going to try this with ES? Sell 10,000 lots and see if they go quick, if so sell another 10,000 to make sure there's a bull market? :D
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LOL!
 
Quote from Swan Noir:

A large trader (the tipeee in your parlance) sold two lots of 10,000 shares each to see how the market absorbed both lots. Following the second sale he was convinced there was a commited buyer out there and covered the 20,000 share short and bought an additional 10,000 holding 500 shares at the average price the 10,000 shares cost him for the tipster.

The way the market absorbed the second lot convinced him the game was on and being long was the place to be.
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appears to be a version of "trust but verify".
 
He was not trying to ascertain if it was a bull market he was making sure there was a relentless buyer of a particular stock.

Quote from Visaria:

Are u going to try this with ES? Sell 10,000 lots and see if they go quick, if so sell another 10,000 to make sure there's a bull market? :D
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