Who is the new (trading) millionare?

PuffyGums · Jul 3, 2002

No real trader would risk signigicant money on a stock that could be halted at any moment.

edpage2 · Jul 3, 2002

If I thought it was going to last more than a couple of days on the NAZ, I probably would have bought--but the news was that it was getting pulled from NAZ.

Originally posted by PuffyGums
No real trader would risk signigicant money on a stock that could be halted at any moment.

bone · Jul 3, 2002

I know two guys who bought K-Mart and Enron a day or two before they were de-listed. Bottom fishing. Didn't work out.

Total risk capital. A throw of the dice if you ask me. Things are generally worth what people are willing to pay for them.

tuna · Jul 3, 2002

I think the secrets not to risk your whole account on em.
I had 20,000 of em yesterday but jumped out just before noon when the 0.06 suport got pretty thin.
I play pigs alot and anything that sits at the 9-10cent mark is worth watching because once they loose that extra decimal at 11 and get some buying on them they can honk...It puts reward a little more in your favor.
If they fall below 11 you get the extra decimal back which slows things up a bit.
Guess everyones risk levels differant.

DaqTrader · Jul 3, 2002

Originally posted by bone
I know two guys who bought K-Mart and Enron a day or two before they were de-listed. Bottom fishing. Didn't work out.

Total risk capital. A throw of the dice if you ask me. Things are generally worth what people are willing to pay for them.

I know one guy who did make bank bottom fishing Enron....

version77 · Jul 3, 2002

Originally posted by bone
I know two guys who bought K-Mart and Enron a day or two before they were de-listed.

KM has been delisted? I didn't know that...I thought KM was
still trading on NYSE?

Mike777 · Jul 3, 2002

Originally posted by Tony01

I think the WCOME buy % was like 85% for Monday. I'm pretty sure these results only take into account positions held overnight, not daytrades.

I might consider trading WCOME myself if I didn't have per-share commissions. It would cost too much to scalp with large enough size. But I prefer per-share commissions for my style of trading.

Tony

I wouldn't read too much into this because with shorts covering and option and Leaps getting squared up that could explain the buying strength. I can't imagine that anyone is really investing. Maybe some are taking a long shot gamble but I would personally rather buy a lottery ticket.
Cheers

SilverBullet · Jul 3, 2002

I bought WCOME this morning and sold it out a number of times until the plateau, and made a bunch of cash...all through INCA

Ave. trade time probably 10 seconds.

Traded it for credits rest of the day.

Boooo YAaa!!!

Mike777 · Jul 3, 2002

Originally posted by SilverBullet
I bought WCOME this morning and sold it out a number of times until the plateau, and made a bunch of cash...all through INCA

Ave. trade time probably 10 seconds.

Traded it for credits rest of the day.

Boooo YAaa!!!

and your point is?

lundy · Jul 3, 2002

Originally posted by Tony01

Yes it's possible and it looks like lots of people bought it yesterday.
This is a cool link I check sometimes to see what the amateurs are doing.

http://www.ameritradeindex.com/amtd.html

I think the WCOME buy % was like 85% for Monday. I'm pretty sure these results only take into account positions held overnight, not daytrades.

I might consider trading WCOME myself if I didn't have per-share commissions. It would cost too much to scalp with large enough size. But I prefer per-share commissions for my style of trading.

Tony

just cause someone isn't a daytrader, doesn't mean they are an ametuer trader/investor.