Ok so I was honest and shared that I got ripped in DNDN when it dropped 16 points in 40 seconds. And I was one the chumps who got their RMBS shorts busted after a huge chop. But today the trading Gods smiled on me.
There was breaking news in MIL (Millipore Corp). TMO (Thermo Fisher Scientific) it was reported made a 6 Billion dollar offer (“6 million dollars”). MIL skyrocketed from 71ish to over 100. I missed the move scrambling to find out why the sudden spike and partly just being a wuss. I couldn’t do the math quickly enough in my head figuring what 6 Billion would translate for the stock price, Spencer was on a flight to Singer Island who could have calculated this in a millisecond (he went to Wharton afterall 🙂 ), but I did sense that everything above 90 was dangerous. I chose to sit on my hands and wait for a safer trade.
MIL started to trend and trend down. At 90 there was a nice battle with the sellers victorious. I started a small short position. MIL traded down about $1.25, I covered and then waited for my next trade. MIL didn’t really trade higher and I found a new place to short. And then something really strange happened. The bids dropped out in a free fall (I later learned a MIL spokeperson said the bid was just a rumor).
I thought- maybe there is no deal. And then I sensed-lock it in Bella. I placed a bid and got hit at 78.82. A cool ten points lower on 300 shares. Almost immediately the bid was 85. So that went well!
I waited for hours to receive a phone call telling me my trade was busted. Dovey was razzing me to expect a call any minute. I ate a few of Rosie’s delicious oatmeal, chocolate chip cookies and managed my other positions in AIG, SLB, BRK.B. My phone never rang.
While this trade was awfully lucky, I was short for a good reason. I am very fast. That is why there are speed drills in the training program Noobs. I did sense the downmove slowing so this execution is partly because of my Reading the Tape skills. And didn’t I have this trade coming to me after the nonsense in DNDN and RMBS?
On a side note I am about to make a rather large purchase in the near future. And I learned right after the trade that this large purchase is going to run me an extra 3k. Typical! It is like that Seinfeld episode where Jerry throws $20 bucks out the window and then finds $20 in his jacket. Maybe I should refer to myself as even Bella?
Anyway that is how you make 3k in 30 seconds. Maybe I should put together an infomercial and hit the road? And by the way if you are new to this blog and think you can really make 3k in 30 seconds without once in a few years luck, please do not return to read this blog going forward.
Best of luck with your trading!
18 Comments on “How to Make $3k in 30 Seconds”
I want 3k of free money Bella. How do you do it?
After getting lucky like that I think you are entitled to some more cookies. And btw we need a rule on the desk about treating people to dinner after getting lucky. Here is my recommended list 3k =Stanton Social? 5k = Peter Lugers? 10k = Nobu! 20k = Vegas 🙂
I want 3k of free money Bella. How do you do it?
After getting lucky like that I think you are entitled to some more cookies. And btw we need a rule on the desk about treating people to dinner after getting lucky. Here is my recommended list 3k =Stanton Social? 5k = Peter Lugers? 10k = Nobu! 20k = Vegas 🙂
I don’t think I can imagine Bella saying “noobs” in real life.
I don’t think I can imagine Bella saying “noobs” in real life.
GMan,
We could have made 5k alone in SLB. 60 long great Trade2Hold.
Bella
GMan,
We could have made 5k alone in SLB. 60 long great Trade2Hold.
Bella
Someone or a black box read the headline and sent a ridiculous market order in, sweeping the book. You got lucky twice, that panic and if you had been at 75 or 76, you would have got no shares. I know, instinct 😉
Someone or a black box read the headline and sent a ridiculous market order in, sweeping the book. You got lucky twice, that panic and if you had been at 75 or 76, you would have got no shares. I know, instinct 😉
sensational headline that will guarantee a lot of hits but could harm your credibility over the long term.
untypical to for this otherwise informative site to show off a trade that was based on pure luck.
do you want (novice) readers (who often don´t have realtime news feed/ the abililty to quickly judge incoming news) really to trade in takeover targets?
tapereading won´t do anything when hard news hit.
so please tell your readers the worst case scenario too:
-after your short entry the stock could have been halted (typical in takeovers),
-the official bid would have been announced (could be anywhere from 70-100 or whatever, you just don´t know)
-the stock starts trading again. depending on the takevoer bid the stock could gap to 95 or whereever a stop won´t save you from a huge loss.
->does shorting a stock that is in takeover play offer a good risk-reward a trader should typically be looking for…?
sensational headline that will guarantee a lot of hits but could harm your credibility over the long term.
untypical to for this otherwise informative site to show off a trade that was based on pure luck.
do you want (novice) readers (who often don´t have realtime news feed/ the abililty to quickly judge incoming news) really to trade in takeover targets?
tapereading won´t do anything when hard news hit.
so please tell your readers the worst case scenario too:
-after your short entry the stock could have been halted (typical in takeovers),
-the official bid would have been announced (could be anywhere from 70-100 or whatever, you just don´t know)
-the stock starts trading again. depending on the takevoer bid the stock could gap to 95 or whereever a stop won´t save you from a huge loss.
->does shorting a stock that is in takeover play offer a good risk-reward a trader should typically be looking for…?
@GreenAB Any long-term reader of this blog can sense the tone of this article and esspecially of Bella. And as he put it, this blog is like a community, sharing good/bad trades, lucky/unlucky events and trading lessons.
As for me, I would like to see a post discussing ‘top 3 mistakes and improvments made this month from the traders on our desk’
@GreenAB Any long-term reader of this blog can sense the tone of this article and esspecially of Bella. And as he put it, this blog is like a community, sharing good/bad trades, lucky/unlucky events and trading lessons.
As for me, I would like to see a post discussing ‘top 3 mistakes and improvments made this month from the traders on our desk’
@OC:i am a longtime reader. and for the most part, especially when it comes to the basics of trading (mindset, preparation, etc.) this blog gives good advice.
i wouldn´t be that critical if it wasn´t for this quote, which suggests that you can learn the skills to engage in this kind of roulette:
“…While this trade was awfully lucky, I was short for a good reason. I am very fast. That is why there are speed drills in the training program Noobs. I did sense the downmove slowing so this execution is partly because of my Reading the Tape skills…”
again: you can forget all your “speed drills” and “tapereading skills” when the stock gets halted the next second.
@OC:i am a longtime reader. and for the most part, especially when it comes to the basics of trading (mindset, preparation, etc.) this blog gives good advice.
i wouldn´t be that critical if it wasn´t for this quote, which suggests that you can learn the skills to engage in this kind of roulette:
“…While this trade was awfully lucky, I was short for a good reason. I am very fast. That is why there are speed drills in the training program Noobs. I did sense the downmove slowing so this execution is partly because of my Reading the Tape skills…”
again: you can forget all your “speed drills” and “tapereading skills” when the stock gets halted the next second.
GreenAB,
Thxs for your feedback. The last line of my blog was meant to warn those who visited thinking this was a trade you could learn:
And by the way if you are new to this blog and think you can really make 3k in 30 seconds without once in a few years luck, please do not return to read this blog going forward.
Whether you would make this trade with very small size, after a downtrend was started, with breaking news is up to you. I would agree this is an advanced trade many would not wish to add to their playbook.
Thinking for my next blog sharing my BRCM trade about how I made six figures in eight minutes in 2001 when the Fed cut rates unexpectedly 🙂
Also you are not even curious what my very large purchase might be?
Bella
GreenAB,
Thxs for your feedback. The last line of my blog was meant to warn those who visited thinking this was a trade you could learn:
And by the way if you are new to this blog and think you can really make 3k in 30 seconds without once in a few years luck, please do not return to read this blog going forward.
Whether you would make this trade with very small size, after a downtrend was started, with breaking news is up to you. I would agree this is an advanced trade many would not wish to add to their playbook.
Thinking for my next blog sharing my BRCM trade about how I made six figures in eight minutes in 2001 when the Fed cut rates unexpectedly 🙂
Also you are not even curious what my very large purchase might be?
Bella
Let me guess. The house of the guy that was short MIL before the rumor hit?
Let me guess. The house of the guy that was short MIL before the rumor hit?