Weinstein Trading and Fading
- Thread starter Robert Weinstein
- Start date
Thanks Will,
I hope things are going well for you sir !!
stop in and see the old crew once in a while..
Best
Bob
It has been way to long since my last post but with any hope I will be able to post at least something everyday again.
I am working on moving my blog and chat room over to another domain and with any luck will have that done within the next month.
Friday was a pretty busy day. Especially so for a Friday and trades were being made for much of the day. Very stress free like much of this month has been. Since my last post I have made some gains and while not super huge I am sure almost all hedge fund managers would love to have my returns percentage wise.
I have been shorting bonds into this hill via naked options and it has gone very well. The large moves back and forth have allowed someone who fades to get great entries and exits. I am also looking to re-finance my home later this fall and having a 30yr under 4.5% sounds wonderful especially considering we bought it based on being able to get a 5% or better.
Fridays Trades included some gap ups as well as some revised B6s which all performed as well as I could ask for. Today was one of the best days of the month and this month is shaping up to be pretty good.
ARST + 113
FIRE + 366
FTNT + 391
NZ + 496
COCO + 25 ( I am still short puts in COCO and really like it. I also added COCO 4 puts in my IRA and feel this stock could double before the end of the year so I am adding on dips)
30yr tres futs options + 212
+ 1552
I am working on moving my blog and chat room over to another domain and with any luck will have that done within the next month.
Friday was a pretty busy day. Especially so for a Friday and trades were being made for much of the day. Very stress free like much of this month has been. Since my last post I have made some gains and while not super huge I am sure almost all hedge fund managers would love to have my returns percentage wise.
I have been shorting bonds into this hill via naked options and it has gone very well. The large moves back and forth have allowed someone who fades to get great entries and exits. I am also looking to re-finance my home later this fall and having a 30yr under 4.5% sounds wonderful especially considering we bought it based on being able to get a 5% or better.
Fridays Trades included some gap ups as well as some revised B6s which all performed as well as I could ask for. Today was one of the best days of the month and this month is shaping up to be pretty good.
ARST + 113
FIRE + 366
FTNT + 391
NZ + 496
COCO + 25 ( I am still short puts in COCO and really like it. I also added COCO 4 puts in my IRA and feel this stock could double before the end of the year so I am adding on dips)
30yr tres futs options + 212
+ 1552
Robert tell us your secret. Not your trading secret but how does a basically unemployed person not only get a loan to move to a bigger home but how are you getting a refinanced loan also? My brothers a doctor that went on his own 1 year ago and he could hardly get a loan even though he has millions in assets.You must have other income or your wife works as no bank on earth would loan a day trader 1 cent.
Pigge, I can't speak for Bob, but what you're claiming isn't accurate. I haven't held a real job for over 10 years ( assuming you don't consider trading a real job), but I easily got a mortgage last Sept. on a 2nd home in another state. In fact, it took less than 2 weeks to get done as the bank chose to underwrite my mortgage and keep it rather than sell it so they required less documentation. Perhaps your brother has quite a bit of debt off setting those assets, a less than stellar credit history, or some other issues like potential liabilities.
Anyway, borrowing money is still pretty damn easy. My wife and I often joke about how someday we're going to take all the money people offer us and run away to some exotic place.
You always have such a warm truly interested in the answer tone to your posts. I hope the rest of your life is more enjoyable and rewarding than the impression I receive from your posts. What a shame it would be to go through life feeling negative and/or envious of others. Happiness is a state of mind you choose to be in or not to be in. I suggest the audio book by Kennedy called "the new psycho cybernetics" as that sounds to me to be the best thing you could do for yourself.
I have not held a "job" since I left the Navy over 20 years ago.
I have no loans other than mortgages on property (no auto loans, no credit card debt etc...) and my fica does not hold me back from getting the best rates / loan.
I bought my first home (tri-plex ) when i was 22 years old and owned a food/drinks college local hang out.
I have also bought and sold several properties over the years so I know it can be done and often.
Getting back to your brother who seems like he could use some help lets take a look.
For someone with millions in assets that is employed and well paid I assume (medical doctor and not a PH.D in some useless degree) or at least a good income regardless to not be able to get a home loan means one or more of the following.
1. shit for credit (doesnt pay on time regardless if he can or can not afford to do so)
2. way over extended and living beyond his means so his loan to income ratio is too high
3. assets are not liquid and/or are not marketable as high as your brother believes they are worth(jesus picture on a cheese sandwich comes to mind)
4. trying to buy a home that is beyond his income level
5. Has no clue what he is doing and just simply cant put the deal together (would not be the first doctor that can't tie his own shoes that I know. AND if the "doctor" is some non medical PH.D in Arctic summer womens shoe studies then this one really starts to make a lot of sense)
6. While having assets doesn't have a down payment of 10%
those are the reason(s) why your brother has not been able to get a loan. I would also like to add that banks are very busy refinancing loans and that those who are credit worthy are having no problems getting loans based on what I have been told locally by banks and from what I see daily on CNBC. For those that blew it during the bubble, well thats another story all together.
Best of luck to your brother and hopefully you enjoy the audio book as much as I did. Dont forget what Yoda said "anger leads to the dark side......." Stay kind, life is so short why waste a minute being anything other than happy ???
Quote from NoDoji:
Nice trading, Bob! DV is the "best of breed" in the for-profit education camp, IMHO. I'm watching for established support, but you've convinced me to possibly sell puts in the meantime
Hi NoDoji,
Great to hear from you and I hope your trading is rocking !!
I really suggest learning all you can about options and how they can lower your risk for longer term investments as well as provide steady income.
Need to know your geeks uhmm I mean greeks and make sure your on the right side so that if the price moves your way so does the option.
Lastly remember that for most stocks selling a naked put is not a totally synthetic as to a covered write as many believe. For the most liquid they are the same or very close but otherwise covered-writes make more sense (especially with interest rates so low like they are now)
Robert what you're saying is not true. My friend is one of the biggest mortgage brokers in nyc and i can assure you unless you have steady VERIFIABLE income you will not get a loan with most banks even if you have huge assets. Yes that income can be day trading income but it has to be substantial and backed by 2-3 years of tax returns.You've admited you've made modest income day trading the past few years.Robert i'm not being an ass i'm just curious how you recieved a loan on "a bigger home". Are you saying you recieved a loan based on your day trading income?