Here's something that was posted on RB that makes for plain 'ol fun reading:
Newbies": SOMTHING FROM AN OLD TIMER (All Credit To Harbie)
found myself bumping around SI tonight, thought i'd go back to some of the old threads that have since died, but were once a lot of fun - went back and read a few posts on the old "Lance B's..." thread. ( heck, back then i was just trading away, didn't even have an account on silicon, but took the time to read a couple threads at night )...anyway, things sure have changed -
the days of "buddies" trading together and working together to make money seem to have changed - it's turned into a contest of who can dump and get out first usually, and who can look the best doing it...
i remember a few posts from norms, about his daughter's skating and competition, everyone wishing him luck...i remember funny stories of lost keys and snow ( he he ) i remember challenges to pay off debt and lists of "to do" and "not to do" while trading the bb's...
i remember tom a. dd'ing a stock and watching it come to life, sometime within the coming days ( or weeks lol ) - i remember "good story" stocks of big potential, ECNC, INVT, BBAN etc etc...were they scams? for the most part yes, and yet we believed, or at least believed enough to call the companies and post dd and take a "position" - you remember, where you could take a position, and not watch it every second, but sell 1/2 for a double in 3 days and sell the "free" shares for a 3, 4, or 10 bagger a week later...
i remember the days of scanning for eod runners with 50 minutes to go - then loading up, selling half and then dreaming of monster gap-ups...how many times could we buy at .4 with 30 minutes left, sell half at .55 at close, and sell the rest at .7 the next morning....oh, then watch it fill the gap, buy back at .57 or so and sell at .68 or higher...it was like clockwork, with olb's like mytrack being the only hinderence lol - yep, those were the days, when i couldn't wait for that alarm clock to go off at 5:30 am west coast time ( and i love getting my sleep )
and then there were the famous bounce plays of old - when a stock would run up 2,000% and then come crashing down and give us the ultimate plays, the EBAS's the VCSY's of the day - weeeeeeeeeeee "buying 2,500 at 1.4, woops, buying 2,500 more at 1.33, (gulp) loading up one last time at 1.31..filled!!! kabooooooommmmm - out 1/2 at 2.10..."
oh yeah, i remember...
i remember when a company would declare a dividend or spin-off, like lance's PFCK - and it was a no-brainer, the volume and intensity and pump would grow and grow and the stock would consistently rise towards the "impact date" ( to borrow a line from the g.l boys )
i remember when making 1k for the day was disappointing...i remember when forward split plays weren't already frontrun - when VNCA could announce a 20:1 or whatever that was, and i could chase it from .62 to 1.2 and sell some at $3, $4, $5 within 20 minutes and $19 the next trading day....
i remember scalping off the bid and ask on the naz and making hay when there weren't 50 others sharing the inside track - in fact, if it wasn't wayne, it was james, and if they weren't around, i was jumping anyone else with the old price/delta 1/256ths configuration ( u mytrack scalpers will know what that used to mean )
i remember "fda approval" meant a 50 - 200% surge on any naz stock, when a cnbc mention was good for a 30 minute run and then the ultimate chance to short...
yeah, i could go on and on, and i guess it doesn't do much good to look back, except to simply reminice and smile...
now, for the most part, the scan stocks run for 3-7 minutes, the news plays are worthless, forward split plays have spreads of 300%, r/s's are more common than the "e", NITE dt's the ask at the exact moment the great wall of china on L2 has just come tumbling down....now, many traders are working other jobs to pay the bills, some have simply disappeared...if you're not shorting through an off-shore account or getting free shares from someone, somewhere, it's a difficult game to play in...
don't get me wrong, i still love to trade, still love the otcbb's ( although i spend much more time on the naz than i used to ) i still run the scans, still scalp off island and still go weeeeeeeee from time to time...but it sure has changed....
so, for just a night:
here's to 50:1 forward splits that run and run, to big bounce plays, to stocks that build momentum for more than 10 minutes...here's to market makers letting things get a bit crazy again, to trading among friends and helping each other - no hidden agendas, no dumping into the buying, none of that....here's to the way things used to be....
and, here's to the thought that somehow, someday, a pig may take flight again...
taken from the board WR, LB and Friends (WAYNE) ALLCREDIT TO HARBIE mabe there is something there for us... at lease together in . AFRR
AI
