Mar

21

Always a record somewhere

March 21, 2023 |

the public has no right to lose so much and to be fooled by the bromide that they get a better deal from the high frequency boys at the opening. the reversals at the opening 30 minutes are spectacular unless you are trying to get a good fill.

nobody asked me, but…perhaps the single greatest mistake that specs make is to try to go for short term profits -like the move in the next half hour or worse yet trying to sneak 2 pts of profit. the vig on such trades is at least 20%. much better to try the impossible of beating the 52% on sports bet.

always a record somewhere: gold down second largest ever, down $39 before FOMC. only 12-22-2011 bigger down move of $45.

one is reminded of my 1 day i had a job on Cramer's site. i got fired because i mentioned that Galton had invented the concept of regression. he says there is always a bull market somewhere. I say there's always a record move somewhere.

i place Cramer and Mad Dog in the same box. they both know so much and try so hard to come up with good predictions, they both have the benefit of experts and insiders, they are both less than random.

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