hey guys i have an idea, let's find Lundy and drag him through the streets and staple his nipples together and bury him up to his neck in an anthill and poke his eyes out with a burned stick.
that's sarcasm in case you didn't notice... i can understand chiding the guy for a ballsy call that got nailed, but what is with the extreme bitterness? "i doubt he even trades," where is that coming from? did he remind you of your abusive uncle or something?
i was skeptic too on such a brazen call, but why kill the guy? it's true that he may have overlooked one of the key principles of probability, i.e. that in an environment with a consistent outflow of bad news and deteriorating psychology, there is a higher probability of continued downside than sharply reversed upside.
but do we really know what his trading ability is, let alone how good of a trader he may become in the long run? i turned a small sum into a massive sum in my first year of trading (1999) and then gave it back like a moron (it was in gold options not in tech stocks). if my experience had been chronicled on this board, and the size of the profits i gave back, i probably would have been shredded like tissue- and a lot of the guys doing the shredding not even really in the game. but guess what, i learned bigtime from that mistake. in case you haven't noticed, just about every majorly successful trader in existence starts by overshooting their confidence and screwing up. i'm not saying that what Lundy did is a mark of greatness, but it's not a mark of guaranteed failure either. In many ways a guy who makes a painful mistake has gained a lot, because the ramifications of that mistake are burned into his brain providing him with a fuller bag of experience and street smarts. humility is also a far more advantageous trading partner than smartassed pride.
the guy was wrong, dead wrong, but we don't know how much he will learn from his mistake, we don't know what his trading ability is in other respects, and we don't know what his future path will be. we also don't know how many of his detractors are blowhards with $2,000 Ameritrade accounts. we do know that kicking a guy when he's obviously down is pretty much childish and lame.
also: let us not forget how much basic trading knowledge is not much more than fluff and trivia. understanding how to parrot cliches is not the same as knowing how to trade. its very easy to say "Lundy you idiot, you never fight the trend don't you know that," and not know much else other than how to repeat conventional guru speak from conventional how to make money trading books.
