The Wrap 9/22/11


What can I say? Things are rocking. You are all in the presence of greatness on a daily basis for the paltry amount of $ 99  a month. If you are a new subscriber and just unsubscribed,  that is my occasional self deprecating humor. Just kidding. People that trade tonight have 12 gauge shotguns in their mouths and c-4 implanted in their asses because they are wiped out. What was left of their 201k’s are now 101k’s. What happened? They don’t know, they will never know, never get it.

I see so many people long only. I see the stream on Stocktwits, it boggles my mind. Everybody loves a dip buy I guess until they stop buying.  I don’t get it, Shorting is part of investing and trading. Just be careful who you listen to and who you follow for advice. Am I perfect? Never, I have failed more than most when it comes to trading, but I take shots and I am passionate about my opinions. I am right more than wrong and I can out think any pundit on CNBC. They are flawed in millions of ways and CNBC needs to fill air time. You, the follower, get sucked in and loses money. We don’t do this on this site. Cramer loved gold and Netflix at the top. Where is the accountability? None. He does coffee with you now every morning.

Anyway, the charts say we implode further, but that is when we rally. We are pretty flat and I don’t care if I miss much tomorrow. I will be on the chatroom all day.

If you area new subscriber (bozillions the last two weeks) then read “Joe’s Rule’s” on my site. Also never trade the first 30-40 minutes of the market opening. When I put a stock on the “P&L” it is a swing trade long or short and it is for a hold of a few days. If I do a chatroom trade and you didn’t get an email, it was because the market is moving too fast and it is a scalp and I won’t waste your time with an email because I may be out before you receive it.

If you have any technical problems (logging in or  email delivery), NEVER email me. I am to busy trading and trying to figure out how to make money. Email Richard at: [email protected]  He is a pro and will help you right away.

Remember, you can tune a piano, but you can’t tune a fish. Have a great night everybody, it’s been a wild week and I love trading with you all.



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