92 minute running time … I went to fast forward after 10 minutes … late 1930s comedy based on a stage play, I wasn’t in the mood for it… snappy fast dialogue. John Farr liked it, of course (Cary Grant is in it), but I say you can give it a miss.
A lot of daffy buttinskis running around without a nickel in their pockets and for what?
Eros International plc (EROS) was the stock du jour, doing 118,000 trades. It was a super busy day in hard-to-borrow land … I traded eight tickers (BCRX, CYCC, CODX, EROS, INO, NBY, SGRY, VBIV), which is unusual for me — all green, bro, green is green. Now I can fill out my menstruation calendar with no red days, brah.
I paid the bookie 2.25 cents per share ($225 per 10,000) and then two minutes later IB got half a million shares in inventory — argh! IB actually had availability for five of the eight tickers, so that was nice. Paying large amounts of money upfront for a borrow is something only semi-professional gamblers can do … if you’re a small guy still learning the short side, you’ll get eaten alive by the fees.
I’m choosing AMC Entertainment Holdings Inc as the HTB (hard-to-borrow) du jour even though GENE was more actively traded … AMC did 67,600 trades by end of day and the borrow cost was 2.06 cents ($206 per 10,000). If you didn’t catch the break right at the open, it woudn’t been much of a play, though you wouldn’t have lost anything in it, even with a late entry. Pretty quiet in HTB land on this Friday. SGRY was a latecomer and ETB, so not one to fight. DNJR was another one that was active, but very tricky as it was also ETB (easy-to-borrow). Until next week….
81 minute running time … young Alan Ladd (not blonde) and the lovely Veronica Lake (yes blonde) … the story isn’t very good though … this is a John Farr recommendation, but I think you can give it a miss. Trying to rouse some patriotism from the psychopathic killer in 1942. Not on my Top 500 list.
She used to beat me. To whip the bad blood out of me, she said.
Edison Nation Inc (EDNT) was the HTB (hard-to-borrow) du jour … it did 89,700 trades on the day … I paid 14.73 cents per share and was unable to get a full fill on the number of shares requested, so I had to take a smaller position than usual. CODX was a latecomer HTB and did 84,400 trades on the day. CODX is on the Reg SHO Threshold List, so my bookie had no shares available to borrow. Other in-play hard-to-borrows were THMO, PDSB, and ATOS.
Bed Bath & Beyond (BBBY) was also in play, but it’s an excellent example of a stock I would never trade … easy to borrow and not a microcap … there are institutional shareholders there, real analysts following the company, which makes it a total avoid in my book. You have to know which stocks made good day trading candidates and which don’t. Whenever I see someone trying to trade a “Usual Suspect,” it makes me wince.
25 years ago I was on the Avid Trader website (long gone)… they had a chatroom and it was fun to chat with “jacad” and “oleman” and “grizzly” and “2cents” … my handle was an optimistic “smartmoney.” A nice bunch of people, those were very early days when things were pretty civil and everyone got along well. All those guys are probably dead now, but I’m still around … still yacking into the void.
Ha! I just found this Silicon Investor thread where someone copy and pasted something I wrote on some previous incarnation of maoxian dot com. I remembered more handles in that previous post:
“Back in the ancient past (1997?), many interesting people hung out at Avid Traders Chat. There were a bunch of nice, bright people who congregated there to chat about the markets and trading: alice, barbarian, bondzai, colby, craig, dr. doom (Teresa, one of the few women), fiendbear, grizzly, guliver, humble, jacad (later known as samurai), jasbond, jwhite, mina, mitstop, notop, oleman, soup, swtrans, temple, topxprt, twocents….”
Easy to reminisce during the global quarantine….
The subversive Style Council at their best… Stalinist architecture in Warsaw … I did my junior year abroad in Harbin (China), and the main building at the Harbin Institute of Technology looks similar to the one they feature in the video.
Found an old angelfire !! web page with spiral binder background titled “Day Traders.” It has four sections with links under each. Let’s see how many web pages survive:
7 links total, 1 to a dead etrade page (did EGRP buy DLJ Direct? Something weird happened when CSFB bought DLJ … OK, “TD Waterhouse is to buy online broker DLJdirect from Credit Suisse First Boston (CSFB) for an undisclosed sum.“), the rest re-direct to the marketwatch main page, which is still around.
9 links total, 9 now dead (100%)
8 links total, 6 now dead (75%) daytradersbulletin lives on, sort of, though “Note: The Daytrader's Bulletin Real-time Signals Service is no longer operating.“
4 links total, 3 now dead (75%) tradersworld lives on!
Applied DNA Sciences Inc (APDN) was the stock du jour … it did 76,800 trades and $119MM in dollar volume. There was also a latecomer HTB (hard-to-borrow), UAVS, which was a sub-dollar so off my radar, and the bookie broker didn’t have shares of it available anyway, but it did 124,000 trades — I didn’t trade it.
I paid 5.94 cents per share for APDN and have included my trade at the end of the recording.
I tried to watch Ozark season one years ago and didn’t like it. Twitterers said season three was amazing, especially the last episode, so I just watched it and wasn’t thrilled … lots of portentous piano and violin music, capped off with an act of violence that made me flinch (wearing headphones didn’t help).
I thought I’d do a curse count for the episode, so here it is:
Linda Raschke teaches class, listen to her every word closely.
“The concept of filling in the holes, or the areas where there was a little bit too fast of a mark-up or a mark-down, the market needs to come back to test those, and say ‘are you sure? really? really? are you sure? ok, all right, we’re sure, we really do want to move off in that direction.’”
Impulse moves … single print areas … one-way trading … I call it ‘opening a window’ too.
