Today the stock market was 7,550. October 12, 1998 the stock market was 7,550. The stock market has gone EXACTLY sideways in 10 years. If you were 55 years old 10 years ago and want to retire now at 65, you may as well have retired when you were 55 if you put your money in stocks.
Or …You could have bought the June 09 $16 QQQQ Puts at .50 last week and sold them today for 1.00 for a 100% return in 6 days!!! :biggrin :biggrin :biggrin :biggrin
Why would I have done that?
I don’t know why you DIDN’T do it…
But I have 60,000 reasons why “I” did…
I don’t believe you. If you are telling the truth tell me what you saw that told you to buy June 09 QQQ puts at .50?
Why don’t you spend 5 minutes and read my previous posts…
The reasons were ALL outlined BEFORE those options even hit .60.
The told everyone here I was buying these options… I also included the EXACT date I bought them.
PS…I could care less what you believe. You STILL obviously refuse to believe people make REAL MONEY in the stock market. You go right ahead and believe that…and I’ll keep adding to my net worth!!!
You are probably not lying. You just write in a way that is not clear enough to verify if you are truthful or not. For example you wrote on the 14th that you bought the puts on the 12th. Now if you had said on the 12th that you bought them “today” there would be no doubt. It is like the people that say they won $10,000 at the craps table. They don’t talk about the $12,000 they lost earlier.
I know a lot of people that have made a lot of money and none of them made that money in stocks. A lot of them made a lot of money and then put it into stocks. It is like big foot. We never find any live or dead ones, we just keep missing them. If we were just here a day or two earlier we would have seen the evidence.
Bluemoon,
Did it ever occur to you to check the PRICES of those options on the 14th vs. the prices on the 12th???
They were DOWN. In other words, on the 12th (the day I purchased those options) they were priced HIGHER than on the 14th (the day I mentioned the position. That day I was actually DOWN) …Why would I tell people on the 14th that I bought options on the 12th…when the price was actually LOWER on the 14th than my BUY IN on the 12th???
The REASON???
Because unlike YOU…I’m actually DOING THIS!!!
But…your still clinging to your theory that NO ONE evey got rich investing in stocks!!! :banghead :banghead :banghead
The options DOUBLED in value within days of the post and I sold.
From Cool Hand Luke…
“Some men you just can’t reach.”
I am a little dense, but it is probably because I am not doing it. I may be wrong but is what you are saying is that you are randomly buying puts and calls all day long. Most of them lose money and every now and then you make money. You have no idea which of them will make money so you only talk about the ones that make money and not the ones the lose money? But when they make money it overcomes your loses. Is that it?
NO…NO…NO
The position was entered on the 12th…it was HELD through the 14th (when I mentioned it here) and SOLD on the 20th.
ONE POSITION ENTERED…ONE POSITION SOLD…NO RANDOM BUYING and SELLING.
You obviously have absolutley no idea how this works, but that doesn’t keep you from running your MOUTH.
What cracks me up about your comment is the following quote…
“You have no idea which ones will make money”
OH REALLY???
I entered ONE position…June 09, QQQQ $16 PUTS…Thats it.
I purchased 1200 of them at .50 or $60K worth on the 12th…
I SOLD them at 1.00 on the 20th or for $120K
Gross profit $60K
No buying and selling options all day as you say…
The more you talk, the more I understand WHY you think no one makes money in the stock market…BECAUSE YOU HAVE NO IDEA HOW IT WORKS!!!
That is my question. Why on June 9th did you buy the puts for the 12th. What did you see June 9th that told you you needed to buy those puts?
Your not understanding this…
When I write June 09…It’s NOT the 9th of June…It’s the LENGTH OF TIME YOU HAVE UNTIL the options expire. It’s the way the OPTION is described, it’s not something I saw on June 9th. :banghead :banghead :banghead
In other words…
ANYONE…could have simply gone to YAHOO…Typed in the symbol QQQQ, clicked on options, and seen the EXACT option I had recommended, and folowed it’s price movements.
The reason I recommended buying the June’s was…
I felt as though the market was heading lower…The market could NOT seem to rally hard off the support levels it kept hitting.
By buying the JUNE 09 QQQQ PUTS it gave you some TIME…Time to be WRONG…By using a long duration PUT the TIME VALUE of those options was actually MORE than the price I paid for them. With the current volatility in the market, it didn’t take a finacial genius to see that there was a very high probability that we would not only RETEST the lows, but most likely break through them.
Instead if always running your mouth about how…
You don’t believe …
You don’t know anyone…or
You think it’s all BS.
OPEN YOUR EYES!!!
When guy’s are telling you about positions their putting on, AS THEY ENTER THEM…You don’t have to be WARREN BUFFET to follow this stuff.
What tics me off is… You OBVIOUSLY don’t even understand the BASIC TERMINOLOGY, but have NO PROBLEM calling me a liar.
I’m done buddy…Your what I call a WRITE OFF…Not worth my time…
Let me understand what you are saying. Stocks tend to not go below support and tend not to go above resistance. So when the support for QQQQ was hit you didn’t see a rapid rise which indicated a tendency for the stock to drop further. Seeing this you decided to buy a Put for QQQQ and give it time to move in case you guessed wrong. Is that right?
BINGO!!!
If you had read the previous posts I had written you would have known ALL of that.
SEE…People REALLY can make LOTS of money doing this.
$60K was made by pushing the ENTER button on my computer TWICE…Once to buy, once to sell…Beats the crap out of renovating houses!!
You are smart. I am too. When I was young my father told me that I would usually be the smartest person in the room. What I need to do is make allowances for them. You need to understand that people get distracted with the name calling and miss your point. People are not smart…not stupid. When I read your posts I try to figure out why you are acting like a jerk instead of trying to figure out what you are saying.
I urge you to try to stick to what you are trying to say instead of commenting on how stupid everybody rehabbing houses is.
Your the guy who said NO ONE makes money doing what I just showed you. If you think that makes you look stupid…I AGREE!!!
By the way…I love how YOU call me a liar, then say “I’M CALLING PEOPLE NAMES” Someone is definitely distracted here…but it’s not ME.
RE-READ your original post on this thread…According to your analysis NO ONE has made, or kept, any money in the stock market for last 10 years because the market is at the same level it was in 1998 :shocked
You’ve been reading what Rookie, Mike, and I have been telling people here for over 2 years. That is…Investing OUTSIDE of Real Estate can be VERY PROFITABLE.
What did you take away from that???
Apparently…NOTHING. Then, when your shown a CONCRETE example of HOW YOU CAN MAKE MONEY…You call me a liar.
If you had simply asked me to explain how I made that money, YOU would have recieved a VERY detailed explanation.
INSTEAD…Your comment was…
I DON’T BELIEVE YOU.
Then when I gave specific dates and prices it became apparent even to YOU that I was just explaning a trade that I actually executed. RE-READ your follow up comments…YOU JUST DON’T LIKE BEING WRONG.:banghead :banghead :banghead I especially liked your comments about the “craps table” and not hearing about losses…The only problem with that theory was, the DAY I mentioned the trade, I HAD A PAPER LOSS. That sort of blew your point out of the water. The BEST part is ANYONE can go back and verify the prices I mentioned AND THE DATES!!!
Like I said…You’re a write off.
I am not there with you everyday watching you make trades so I have no idea of you are telling the truth or not. I will say I believe you made $60,000 on the deal you just mentioned. I also believe that you lost $50,000 on all the rest of the deals you did that day that you are not talking about. I believe that you only made $10,000 but just like professional gambles you only talk about the hand you played that gave you the BIG wine, not the dozens of hands that were loses.
So really we are both right. You are telling the truth and you are also lying. You are lying by omission. No I am wrong you are not lying, I didn’t ask the question right. I should have asked you how much did you lose to come up with the big win?
BRILLANT THEORY!!!
Can’t argue with that LOGIC. :banghead :banghead :banghead
COMPLETELY MISSED THE ENTIRE POINT OF THE REPLY.
Nicely done Bluemoon06. You have learned NOTHING!!! CONGRATULATIONS!!!
Make sure you COMPLETELY IGNORE my " Ford…Obama Bounce" post. I wouldn’t want to shake that PHD Thesis work your doing on how you have to LOSE 5 times inorder to make money ONCE!!!
“Some men you just can’t reach.”
Anyway. As I said Today the stock market was 8287. January 2, 1998 the stock market was 8287. The stock market has gone EXACTLY sideways in 10 years. If you were 55 years old 10 years ago and want to retire now at 65, you may as well have retired when you were 55 if you put your money in stocks. Nobody except ONE (1) guy has made any money (and he made $60,00 in one day) over that time frame.
You’re only looking at the index average in your generalization. You’re also making the assumption that people had all their money in on Jan. 2, 1998 and let it be until today. Obviously some areas would be hit harder than others. What if you poured money into tech on Jan. 2, 1998 and sold off before the tech bubble burst? Even if you invested that money back into blue-chips until today, you’d still be WAY up compared to what you put into the market in 1998.
I would never say you can’t make money in the stock market. I just personally haven’t been successful at stock picking and I want to focus on REI now so that’s what I’m doing.