4 replies to this topic

[greenie]

In his book, Livermore described his attempts to short a bull market top after the SF earthquake. The following thing happened few times - he got a decline, was excited to see market go his way and then suddenly the market bounced back to get his positions wiped out.

Finally a day came, when he saw something unusual in a newspaper ad. Based on a large ad from a bank in popular newspaper, he sensed that the banks were running out of money and will soon be in trouble. He shorted to his fullest extent and was rewarded by an amount equivalent to over 1 billion in today's money.

Folks, I had similar Livermore moment , when I saw this ad from GE capital at bigcharts.com -

http://bigcharts.mar...r...eq=1&time=6

Typically the same space contains ads of movies, stores and so on. Something smells here.

[TTHQ Staff]

Folks, I had similar Livermore moment , when I saw this ad from GE capital at bigcharts.com -

http://bigcharts.mar...r...eq=1&time=6

Typically the same space contains ads of movies, stores and so on. Something smells here.

Greenie, that's not an ad, that's a link to a page. Advertisements on those web pages are typically dynamic. Whatever you were looking then at is not bloody likely to be the same ad someone else sees next time. What was the ad? All I see is Prius, Schwab and Marketwatch ads.

[NAV]

In his book, Livermore described his attempts to short a bull market top after the SF earthquake. The following thing happened few times - he got a decline, was excited to see market go his way and then suddenly the market bounced back to get his positions wiped out.

Finally a day came, when he saw something unusual in a newspaper ad. Based on a large ad from a bank in popular newspaper, he sensed that the banks were running out of money and will soon be in trouble. He shorted to his fullest extent and was rewarded by an amount equivalent to over 1 billion in today's money.

Folks, I had similar Livermore moment , when I saw this ad from GE capital at bigcharts.com -

http://bigcharts.mar...r...eq=1&time=6

Typically the same space contains ads of movies, stores and so on. Something smells here.

Greenie,

I have read Jesse Livermore. Livermore is certainly not my hero, someone who went bankrupt a few times in his life. He was a plunger. Many post Livermore's wisdom on this board, but i wonder how many of them who worship livermore, have the tenacity to go bancrupt a few times in life or have the support from their families to carry on this business after a bankruptcy !

A few of my heroes are chronicled in Jack Shwager's "Market Wizards".

P.S - So, have you bet the farm ?

Edited by NAV, 27 June 2007 - 10:42 AM.

[U.F.O.]

He also committed suicide. :-( U.F.O.

[greenie]

The ad was about GE capital pitching their bonds to the public - I did not realize it was dynamic, because every time I clicked on the page, it appeared. NAV, no I am not Livermore and not betting any ranch here - maybe xD should try . I did enjoy his book however, because it is best to learn about the risks of trading from someone who went bankrupt few times so that we do not end up making the same mistakes (and instead get bankrupt from other mistakes - just kidding ). I understand, why traders here quote him often. He is the hero of those who want to get rich quick - pauper today, margin to the hilt and millionaire tomorrow. Not my style - I still believe in compound interests.