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snoot,

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JLS   Tuesday, 02/18/14 04:10:24 PM
Re: snootmagruder post# 1965
Post # of 2000 
snoot,

Oh really? I "have no common sense and have a hard time understanding real things".

Well, I understand that you don't have the common sense to get out of an absolutely awful trade, and as a result you lost a ton of money last year while stuck in 3X Bear ETFs for seemingly forever. And what did you do about it? When you finally did get out of that trade, you started trading options and penny stocks last November, in spite of my warnings, and you argued with me about that and claimed that company fundamentals don't matter. I wonder how that's working out.

You know, it takes common sense and a knowledge of real things to trade options. And it takes the same to stay away from penny stocks. Let's see how you did:

Last November you thought you could trade options so you found a stock that you thought would pop big time and set up an options trade. The stock was CLF. I tried to discourage you from doing things like that because I kinda liked you at the time and had this silly urge that I should try to protect you, but you thought I didn't have a clue. Let's see how that trade turned out. CLF was trading near 27 at the time, so you bought the $29 Calls that were set to expire in two weeks then you wrote that you expected CLF to hit 35.80 by expiration. Right away it's easy to see there is no common sense in that. Even Forrest Gump would know that didn't make any sense. Wow, you expected the stock to move by about $8.50 in two weeks!? Well, if you knew anything about the implied volatility of options, and how to calculate it, or know how to obtain that number for free at your brokerage, you would know that you were the only one that thought that.

Well ... stupid is as stupid does, and CLF never got anywhere near that number and your options expired worthless in two weeks.

If that trade required common sense and the understanding of real things, then you can just keep that stuff in the jar, and don't you dare to even think about loosening the cap because I don't want any of that stuff floating around me or anyone else.


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