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> For your information, I trade "nasdaq stocks" only and I use NASDAQ
> index as the floor map for my direction and the "36%"is true and I
> was in RBAK stock and I covered my short today before the close.
Haytham, that was a nice trade but your credibility would be higher if
you worked on your math.
RBAK
Date Open High Low Close
5/9/01 20.02 22.09 19.82 21.24
5/10/01 22.1 22.1 19.5 19.5
5/11/01 19.11 19.11 15.9 16.4
5/14/01 16.3 16.31 15.45 16.02
Let's assume (best case) you sold the high on 5/9 and bought the low on
5/14.
(22.09 - 15.45)/ 22.09 = 30%
Worst case, you made just under 18%.
Perhaps that 36% is return on margin? Of course, we don't want to go
there as we all know the kind of margin available on the futures. For
example, my little mini S&P trade netted 69% on margin.
59.25 * 50/4,313 = 69%
Enough of this, I'm done. My point to the newbies out there is don't
take anyone's (mine or anyone else's) claims on faith. Check the facts
for yourself. There are a lot of charlatans in this business. When
somebody tells you something WILL or MUST happen in the market, with no
uncertainty whatsoever, walk away. An experienced trader knows better
than to make such claims and a smart new guy knows better than to listen
to them. NOTHING is certain in the market.
--
Dennis
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