|
PureBytes Links
Trading Reference Links
|
Good post. I had a similar experience..............
-----Original Message-----
From: Kim Stockdale <kimbo@xxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Sunday, January 11, 1998 9:41 PM
Subject: Re: GEN: Day traders on line
>dskulnik wrote:
>
>> Is anyone a member of DAy TRADERS on line?
>
>I was a member of Day Traders Online for about 6 months. This is a real
>time chatroom for stocks where the main calls are made by one person who
>goes by the screen name DT.
>
>Here are my observations:
>
>>From what I saw, DT was not much into technical analysis, and made most
>of his calls based on news. I believe he pays $5k/mo for First Alert
>news service.
>
>DT has a big ego and was quick to warn or kick out anyone who posted
>negative statements about him, the service or his calls.
>
>DT made frequent “buy” calls, but rarely would say when to sell. If you
>lost money, then you did not “manage” the trade correctly, not because
>he made a bad call.
>
>If he made a good buy call and the stock subsequently went up, DT made
>ongoing postings reminding you of his great call.
>
>If he made a bad buy call and the stock subsequently went down, DT’s
>postings about that stock virtually disappeared.
>
>I don’t remember DT ever apologizing for making a bad call. I don’t
>think “I’m sorry” was in his vocabulary.
>
>The most memorable call I remember occurred on 3-13-97. DT said to buy
>ESOL after it had plunged about 5 points that day to around 14 3/4.
>Following his call there was a frenzy of member postings praising DT and
>loading up with ESOL for the overnite killing as expectations were high
>for the stock to open up the next day. The stock closed at 15 3/8.
>Next day the stock opens at $6 and traded as low as 5 1/8 and closed at
>6 ¼. One member reportedly lost about $70K after his broker liquidated
>his account. Apparently he had bought ESOL to the max, on margin, and
>when his account equity dropped near zero, the broker liquidated his
>holdings. Did DT apologize for the call? Nope, he kept harping on how
>everyone COULD have sold ESOL at a profit on the 13th as the stock DID
>close higher from his call.
>
>Overall, I lost money trading DT’s stocks. The best part of the service
>for me was the member chat about good and bad internet stock brokers,
>using Level 2 quote services (such as PC Quotes or AT Financial),
>internet sites, and hardware/software setup.
>
>
>
|