Monday, September 08, 2008

The stock market is dangerous


If you were like many Americans this summer who just bought a foreclosed house because they were so cheap, you can now look back and say that your timing was a little bit off because Mortgage rates are much lower and the government just took over Fannie Mae and Freddie Mac.



If you think that Washington Mutual will not fail, even after the CEO is thrown out, then you haven't seen stock price of the latest bank failure on the FDIC failed bank list.
Silver State Bancorp

Washington Mutual

If you think that these markets aren't manipulated by rumors, then you probably weren't trading UAUA today.

If you think think that the stock exchanges that handle your trades are fair and orderly and won't fail if there is a major disaster or market crash, then you weren't trading on the London Stock exchange today.

9 comments:

Bluedog on 4:23 PM said...

Dangerous is right. UAUA's lotd was .01. How nice would it have been to get in at that price?!

HPT on 4:34 PM said...

I bought 100,000 shares at 0.01 for $1000 and made over $1,000,000 at the end of the day. My profits trump every known gurus return known to mankind. I will go down in the history books as the greatest trader the world has ever seen. I'm going to continue blogging for shits and giggles though.

tapeworm on 5:33 PM said...

hpt: Yeahhh! That's the ticket!

http://en.wikipedia.org/wiki/Saturday_Night_Live_characters_appearing_on_Weekend_Update#Tommy_Flanagan.2C_the_Pathological_Liar

Bluedog on 8:15 PM said...

Nice trade! ;)

I used to have a bunch of limit orders set to go at extremely low prices in illiquid stocks just in case someone hit sell at market, but my broker cleared them out as being "out of the trading range." What a load of shit, eh?

HPT on 8:19 PM said...

I'm going to donate all my winnings to charity and start from scratch again, being the noble person that I am. Too many stock traders are greedy making millions per year, so I need to set an example for the world and instill the message that life is not about money. "Life is about bitches, money, and respect" At least that's what my dear ol grandmommy said.

HPT on 8:25 PM said...

Tapeworm,
I was thinking of making a blog post about the ins and outs of strip clubs. I would need some help putting the post together from friends. If your interested let me know. I'm thinking the top 10 things not to do, and tips and tricks when going. I might make a video out of it, as I could put in pictures and music.

tapeworm on 6:38 AM said...

"bitches, money, and respect" LOL!

ur grandma sounds like a wise woman

MatchPointTrader on 9:11 AM said...

This post is awesome. I thought I had caught all the activities yesterday but I guess there is so much happening right now, that I am missing some important things. Thanks HPT for detailed post.

About stripclubs thoguh,
BTW, *Always* tip generously to the bouncer - it can be really useful at times :).

HPT on 9:18 AM said...

Thanks MPT,
Good idea on tipping the bouncer. Believe it or not, many of the bouncers get there money from the strippers, a percentage cut of whatever they make for the night. Same goes for the DJ.

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