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  • #61
    Originally posted by I KNOW IT ALL View Post
    I have no clue what point you're trying to make here, sorry.
    Werent you guys arguing about why betting on fooball is illegal and the stock market is legal? I could have read it wrong.

    One thing though is that no one is 100% sure on any stock. I used to hate Cramer back when people thought he was the best thing to ever hit the market. My stock would go down 10% one day with no news at all except for Cramer saying he doesnt like it. Now, not too many people buy or sell based on what he says nearly as much as when the show just started getting popular. He is an entertainer first and then a stock analysis second. He gets more money from that show than he does with his stocks.

    Oh yeah, I dont know about other brokers but Fidelity has had a rule for quite some time that you cant short a stock without having at least one million dollars in your account. Its too risky since you could easily lose it all and more on top of that and they dont know if they will see that money.
    Last edited by jayceheathman; 03-12-2009, 05:22 PM.

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    • #62
      Originally posted by I KNOW IT ALL View Post
      OK, so we're on the same page. I'm not saying it's wrong to cut into Cramer for being wrong, that's perfectly acceptable. We always rip into people for predicting the wrong thing. But...we should never rip people for making predictions period. Sometimes you're right, sometimes you're wrong.
      predictions are 50-50. somtimes people forget that. and of course someone will get ripped for a prediction gone wrong more so than praised for a prediction gone right
      Last edited by bored of education; 03-12-2009, 05:28 PM.
      my scent?...like making love to a lumberjack
      <TACKLE> i will ngata give you a bj raji
      <+BOE> Scott, with Burfict's character concerns (whether legit or not) you think Pioli would draft him. :D
      <+ScottWright> Why not. Baldwin does need a sparring partner...
      Originally posted by Hermstheman83
      What's with the hate on Ricky Stanzi? Those youtube clips of him with the hulk hogan theme music instantly make him better than Luck.

      Comment


      • #63
        Originally posted by jayceheathman View Post
        Werent you guys arguing about why betting on fooball is illegal and the stock market is legal? I could have read it wrong.

        One thing though is that no one is 100% sure on any stock. I used to hate Cramer back when people thought he was the best thing to ever hit the market. My stock would go down 10% one day with no news at all except for Cramer saying he doesnt like it. Now, not too many people buy or sell based on what he says nearly as much as when the show just started getting popular. He is an entertainer first and then a stock analysis second. He gets more money from that show than he does with his stocks.

        Oh yeah, I dont know about other brokers but Fidelity has had a rule for quite some time that you cant short a stock without having at least one million dollars in your account. Its too risky since you could easily lose it all and more on top of that and they dont know if they will see that money.
        There are shorting stock rules and each company may have their own policies about it
        my scent?...like making love to a lumberjack
        <TACKLE> i will ngata give you a bj raji
        <+BOE> Scott, with Burfict's character concerns (whether legit or not) you think Pioli would draft him. :D
        <+ScottWright> Why not. Baldwin does need a sparring partner...
        Originally posted by Hermstheman83
        What's with the hate on Ricky Stanzi? Those youtube clips of him with the hulk hogan theme music instantly make him better than Luck.

        Comment


        • #64
          Originally posted by jayceheathman View Post
          Werent you guys arguing about why betting on fooball is illegal and the stock market is legal? I could have read it wrong.

          One thing though is that no one is 100% sure on any stock. I used to hate Cramer back when people thought he was the best thing to ever hit the market. My stock would go down 10% one day with no news at all except for Cramer saying he doesnt like it. Now, not too many people buy or sell based on what he says nearly as much as when the show just started getting popular. He is an entertainer first and then a stock analysis second. He gets more money from that show than he does with his stocks.

          Oh yeah, I dont know about other brokers but Fidelity has had a rule for quite some time that you cant short a stock without having at least one million dollars in your account. Its too risky since you could easily lose it all and more on top of that and they dont know if they will see that money.
          There are rules with shorting but you definitely do not need a million dollars to short sell stocks. You can also limit downside and leverage by buying Short ETFs. Also, options would have been VERY profitable due to how leveraged they are.

          If you know what the market is going to do, you will make a ton of money, period. There are financial instruments that you can use to bet on pretty much anything happening.

          Comment


          • #65
            Originally posted by I KNOW IT ALL View Post
            There are rules with shorting but you definitely do not need a million dollars to short sell stocks. You can also limit downside and leverage by buying Short ETFs. Also, options would have been VERY profitable due to how leveraged they are.

            If you know what the market is going to do, you will make a ton of money, period. There are financial instruments that you can use to bet on pretty much anything happening.
            I have tried shorting but Fidelity wont let me and I have been told by them that you have to have one million. I have been considering signing up with Scottrade.

            My worst ever pick that was so unlucky was Fannie May. I knew it was volatile but it hit like $2 and was making a pretty nice run up that week. I bought in and not too much happened the first day. I was getting bored and wanted to pick a fun stock where I have a chance of making a lot but also getting destroyed. I wasnt planning on getting as destroyed as I did. 2 days after I bought in is when the Government announced they were going to buy Fannie and Freddie out and of course they do this after the market is closed. The next day the stock opened 90% lower and there was nothing I could do about it but watch. So many people were on Yahoo message boards for that stock wondering what was going to happen when the market opened.

            Comment


            • #66
              Originally posted by jayceheathman View Post
              I have tried shorting but Fidelity wont let me and I have been told by them that you have to have one million. I have been considering signing up with Scottrade.

              My worst ever pick that was so unlucky was Fannie May. I knew it was volatile but it hit like $2 and was making a pretty nice run up that week. I bought in and not too much happened the first day. I was getting bored and wanted to pick a fun stock where I have a chance of making a lot but also getting destroyed. I wasnt planning on getting as destroyed as I did. 2 days after I bought in is when the Government announced they were going to buy Fannie and Freddie out and of course they do this after the market is closed. The next day the stock opened 90% lower and there was nothing I could do about it but watch. So many people were on Yahoo message boards for that stock wondering what was going to happen when the market opened.
              Ouch, that's rough. I almost bit into Sirius/XM when it got low...thankfully I kept my senses and didn't. Still, I got burned badly when the agriculture sector came down.

              Comment


              • #67
                Originally posted by I KNOW IT ALL View Post
                Ouch, that's rough. I almost bit into Sirius/XM when it got low...thankfully I kept my senses and didn't. Still, I got burned badly when the agriculture sector came down.
                I thought about Sirius myself and luckily didnt get in either. It had a very nice day today but the whole market did as well. Well, besides my stock. I have Marvel and they announced today that they are pushing back the release dates on Thor and The Avengers so it went down 2%. The last time I checked I heard Sirius/XM were about to file bankruptcy.
                Last edited by jayceheathman; 03-12-2009, 05:49 PM.

                Comment


                • #68
                  Originally posted by jayceheathman View Post
                  I have tried shorting but Fidelity wont let me and I have been told by them that you have to have one million. I have been considering signing up with Scottrade.

                  My worst ever pick that was so unlucky was Fannie May. I knew it was volatile but it hit like $2 and was making a pretty nice run up that week. I bought in and not too much happened the first day. I was getting bored and wanted to pick a fun stock where I have a chance of making a lot but also getting destroyed. I wasnt planning on getting as destroyed as I did. 2 days after I bought in is when the Government announced they were going to buy Fannie and Freddie out and of course they do this after the market is closed. The next day the stock opened 90% lower and there was nothing I could do about it but watch. So many people were on Yahoo message boards for that stock wondering what was going to happen when the market opened.
                  many brokerages have min/max requirements for shorting
                  my scent?...like making love to a lumberjack
                  <TACKLE> i will ngata give you a bj raji
                  <+BOE> Scott, with Burfict's character concerns (whether legit or not) you think Pioli would draft him. :D
                  <+ScottWright> Why not. Baldwin does need a sparring partner...
                  Originally posted by Hermstheman83
                  What's with the hate on Ricky Stanzi? Those youtube clips of him with the hulk hogan theme music instantly make him better than Luck.

                  Comment


                  • #69
                    Who the hell is Jim Cramer

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                    • #70
                      Originally posted by The Peefs View Post
                      Who the hell is Jim Cramer


                      Guy who yells about stocks on his CNBC show.

                      Comment


                      • #71
                        Originally posted by Hollywood View Post
                        Ok.

                        Edit:

                        They are both idiots (why anyone would listen, trust or give credence to either's advice on finances or politics is beyond me) yet I will watch just to see Stewart likely kiss Cramer's ass after less than a week of ripping him on his show.
                        The thing is, Jon Stewart doesn't want anyone taking his advice. He is a comedian, so why that makes him an idiot, I don't know.
                        I hate to advocate drugs, alcohol, violence, or insanity to anyone, but they've always worked for me.
                        Hunter S. Thompson

                        Comment


                        • #72
                          Originally posted by I KNOW IT ALL View Post
                          So you think some guy turns on CNBC, sees the slogan "In Cramer We Trust" and assumes he is an infallible god and his stock picks are going to be right 100% of the time?

                          Come on, what planet do you live on?
                          If you don't think that was there intent, I just don't know what to tell you. It is using a classic symbol to give credence to a different person, it is something that has been done since the dawn of civilization. Of course they don't expect people to believe he is a god. But it does bring to mind "In God We Trust." And if you don't think some people put absolute faith in whatever is said on TV, well I don't know what planet you are living on. How many people STILL believe Obama is Muslim, and that was just from Fox News and emails.
                          I hate to advocate drugs, alcohol, violence, or insanity to anyone, but they've always worked for me.
                          Hunter S. Thompson

                          Comment


                          • #73
                            Originally posted by Hollywood View Post
                            No. I would never blame someone for my losses as I am the one and only person responsible for my own actions. Come on, that is libertarian 101. :)
                            I used to be a hardcore libertarian, but I am gradually further and further left. I would still vote for Ron Paul in a heartbeat, because he is one of the few politicians who you know what you are going to get, he sticks to his guns. Same with Kucinich(even though he is too far left for me.) Hell, my ideal system of government/economics is anarcho-capitalism, but it isn't a feasible system.

                            I would never blame someone else for MY losses, but that is because I am smart enough to do research. Unfortunately, that isn't the case with most people(and thats why I keep moving further and further from libertarianism, people are just so dumb they couldn't handle pure libertarianism, they would get fleeced regularly.) Most people are easily manipulated, and even insinuating that Cramer is almost always right, like CNBC does is a bad faith move. Way too many people put their trust in what is said on TV, and they know that.

                            I Know It All, I also predicted a meltdown. I had no idea when it would happen, but you can ask any of my friends and they will tell you I have been saying we are heading for the worst economic disaster since the Great Depression, back about a year ago. Unfortunately, I wasn't able to short anything, because I've barely had the money to eat, much less invest.
                            I hate to advocate drugs, alcohol, violence, or insanity to anyone, but they've always worked for me.
                            Hunter S. Thompson

                            Comment


                            • #74
                              Originally posted by someone447 View Post
                              I used to be a hardcore libertarian, but I am gradually further and further left. I would still vote for Ron Paul in a heartbeat, because he is one of the few politicians who you know what you are going to get, he sticks to his guns. Same with Kucinich(even though he is too far left for me.) Hell, my ideal system of government/economics is anarcho-capitalism, but it isn't a feasible system.

                              I would never blame someone else for MY losses, but that is because I am smart enough to do research. Unfortunately, that isn't the case with most people(and thats why I keep moving further and further from libertarianism, people are just so dumb they couldn't handle pure libertarianism, they would get fleeced regularly.) Most people are easily manipulated, and even insinuating that Cramer is almost always right, like CNBC does is a bad faith move. Way too many people put their trust in what is said on TV, and they know that.

                              I Know It All, I also predicted a meltdown. I had no idea when it would happen, but you can ask any of my friends and they will tell you I have been saying we are heading for the worst economic disaster since the Great Depression, back about a year ago. Unfortunately, I wasn't able to short anything, because I've barely had the money to eat, much less invest.
                              See to me libertarianism is not just trusting yourself to make the right decisions; it's about the community and others helping those who are not smart enough to make the right decisions instead of trusting the government to do that.

                              It comes down to who you trust more: the people around you or the government?

                              Comment


                              • #75
                                Originally posted by Hollywood View Post
                                See to me libertarianism is not just trusting yourself to make the right decisions; it's about the community and others helping those who are not smart enough to make the right decisions instead of trusting the government to do that.

                                It comes down to who you trust more: the people around you or the government?
                                I trust neither. I think Libertarianism would work for most people. But there are always those that would take advantage of the situation. I am of the school of thought that the governments job is to protect the individuals rights. That's a very libertarian philosophy, but I don't think Libertarianism can accomplish that.
                                I hate to advocate drugs, alcohol, violence, or insanity to anyone, but they've always worked for me.
                                Hunter S. Thompson

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