My useful and useless facts thread

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<p>ooo, this Spitzer thing just gets better. According to ABCNews.com:</p>

<p><em>The federal investigation of a New York prostitution ring was triggered by Gov. Eliot Spitzer's suspicious money transfers, initially leading agents to believe Spitzer was hiding bribes, according to federal officials. It was only months later that the IRS and the FBI determined that Spitzer wasn't hiding bribes but payments to a company called QAT, what prosecutors say is a prostitution operation operating under the name of the Emperors Club.</em></p>

<p>So this has been going on for more than just the last couple weeks and it was his own attempts to hide his fund transfers that tripped him up. Wow, in light of his past public statements and his record as AG, the level of hypocrisy is just stunning.</p>
 
<p>Nah, I'm not surprised about Spitzer. Certainly I am not the only person who is suspicious of those who beat their drums the loudest. How common is it to find out these are the people to have something to hide? I didn't take any classes in psychology, but I'm sure there's something to be said for people with over-compensating type of behavior.</p>

<p>Jim Bakker


Larry Craig


Strom Thurmond


etc...


We could list people all day!</p>

<p>Edit: Couldn't figure out how to resolve it, so please excuse my BAF (Big Ass Font).</p>
 
Douggie has some cajones. Huevos Grande.<p>

I know I will never short GS, but it never even occured to me to short BRK. It is a terrifying thought. Only in my nightmares.
 
<p>awgee,</p>

<p>Even with today's rise if you shorted BRK.A 5 days ago and sold by today's close, the difference would be $5160. Now, I don't know how much it would cost you to do that trade since it closed at $131,940.00 but the trade is black and white. You are either going to make a lot of money, or you are going to get crushed. </p>

<p>Five days ago, that trade made sense. In light of the Fed action today, I wouldn't touch it.</p>
 
lliz - I have shorted BSC in the past. I have also been long puts on it and entered bear call spreads on BSC. That said, what I want to tell you is that if you are not experienced at shorting, don't start. The only way how to learn to short is to lose money. Shorting is not just the opposite of being long. You have to be right and your timing has to be perfect or close to perfect in order to short profitably.<p>


Nude - I like making money the easiest way possible with the least amount of stress. Shorting BRK sounds neither easy nor relaxing. I am a lousy stock picker and when I care to be long the general market, I go long BRK. He is 100 times a better stock and company and value picker than I. My talent seems to be in discerning BS.
 
Two other things to consider when shorting (or making any kind of short term trade)


1) In short term trades, technical data trumps financial data. You need to look at the security you are interested in at multiple time frames (intra-day, daily, and weekly), and you need to look at oscillators of the market overall. Your shorts are more likely to work when the market is overbought than when it is oversold.


2) Always set your stop order when you get your initial fill





Also, if you are playing with options, ALWAYS take something off the table when your position moves in your favor.
 
<p>BRK.A shares down $1240...</p>

<p><em>Five days ago, that trade made sense. In light of the Fed action today, I wouldn't touch it.</em></p>

<p>There you go folks, proof that I know less than squat about picking stocks </p>
 
<p><em>"There you go folks, proof that I know less than squat about picking stocks"</em></p>

<p>You have company. </p>
 
<p><strong>Millionaire Population Growth Slows</strong></p>

<p>http://www.forbes.com/2008/03/13/wealth-millionaires-biz-billies-cx_af_0314millionaires.html?partner=yahootix</p>
 
<p>A developer hopes to raise enough money with a drawing of $100 tickets to pay for a mansion.</p>

<p>http://www.orlandosentinel.com/business/orl-houseraffle1808mar18,0,6473255.story</p>
 
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