Just FYI (or a correction)...he entered 2M shares, not filled on 2M shares. And, yes, even though this is the most consistently profitable strategy we employ, there is risk, as always. No risk, no reward, it's just understanding it.
For a bad case scenario, I'll give you one of mine. Back in 2001 I was in my Reno office, and had turned off the TV, and turned off our morning call just before the opening so I could demonstrate a new auto-enter, opening only program to the traders there.
Well I missed my brother telling everyone to cancel their OPG orders due to the Kennedy airport plane crash that happened not too long after 9/11 (I can't remember the details, but it was the "second hit" or at least perceived to be).
Well, needless to say I was long 2,000 shares of about 40 stocks. And was immediately down about $40,000 - I got lucky, as it turned out to not be an act of terrorism, and actually ended up for the day in about half an hour.
Things happen, I prefer to focus on the 99% than the 1%. What "does" happen is consistency, what "can" happen can be costly. We've always been percentages oriented, both in the risk we take, and the risk we won't allow, FWIW.
What are your guys thoughts about the State owned Dubai company buying so much of MGM? I think that Kirk Kerkorian knew about this deal a while back when we couldn't figure out why he was buying the "City Center" project essentially from himself. Now we see why, and gigantic infusion of money. Will we see the outrage that we saw when the same company tried to buy up a bunch of U.S. ports? In any event, I hope they don't stop serving alcohol, I would have to boycott the place, LOL. Just seems a bit odd, not that I mind, the U.S. has always been happy to sell it's assets to other countries. 1970's it was the Iranians, 1980's and 1990's it was largely the Japanese, and it's always been Great Britain. Whadya thinkk?
Don
