This article, in other words, helps crystallize a reality that I have increasingly recognized in my own career: coming up with good ideas is easy; executing them at an elite level is staggeringly difficult.
I am not unmindful that some of you are reading this post out of great trials and tribulations.
Some of you have come fresh from the manipulated webpages of Seeking Alpha.
Some of you have come from areas where your quest for freedom left you battered by the storms of misinformation from TheStreet.com and staggered by the useless and ultimately dangerous entertainment-packaged-as-news of CNBC.
You have been the veterans of creative suffering. Continue to work with the faith that unearned suffering is redemptive.
Go back to Seeking Alpha, go back to CNBC, go back to TheStreet.com, go back to Reuters, go back to Fox Biz, go back to the slums and ghettos of these misinformation providers, knowing that somehow this situation can and will be changed.
Let us not wallow in the valley of despair.
I say to you today, my penny stock friends, so even though we face the difficulties of today and tomorrow, I still have a dream.
It is a dream deeply rooted in the dream of all those on Wall Street.
I have a dream that one day this industry will rise up and live out the true meaning of its creed: “We hold these truths to be self-evident: that all traders are created equal and should therefore be allowed to profit freely.”
I have a dream that one day on Yahoo! Finance the sons of penny stock traders and the sons of other traders will be able to chat together at the site of brotherhood.
I have a dream that one day even TheStreet.com, a site sweltering with the heat of misinformation, sweltering with the heat of bias, will be transformed into an oasis of opportunity and financial justice.
I have a dream that my trading challenge students will one day profit in an industry where they will not be judged by the stocks they trade but by the profitability.
I have a dream today.
I have a dream that one day, down on Bloomberg, with its viciously narrow-minded contributors, with its policies dripping with the words of inequality and misguided assumptions; one day right there on Bloomberg, little penny stock trader boys and girls will be able to join hands with all other kinds of traders’ boys and girls as sisters and brothers.
I have a dream today.
I have a dream that one day every website shall be exalted, every magazine and newspaper shall be made low, the proper information will be made plain, and the misinformation will be made straight, and the glory of Wall Street shall be revealed, and all traders shall see it together.
This is our hope. This is the faith that I go back to my students with.
With this faith we will be able to hew out of the mountain of despair a stone of hope.
With this faith we will be able to transform the jangling discords of our industry into a beautiful symphony of traderhood.
With this faith we will be able to trade together, to profit together, to talk together, to go to learn together, to stand up for financial freedom together, knowing that we will be free one day.
This will be the day when all of God’s traders will be able to sing with a new meaning, “My Wall Steet, ’tis of thee, sweet land of Profitly, of thee I trade. Stocks where my fathers traded, industry of the Jewish pride, from every stock exchange, let trading ring.”
And if Wall Street is to be a great industry this must become true. So let penny stock equality ring from the snobby boardrooms of Morgan Stanley. Let penny stock equality ring from the mighty offices of Goldman Sachs. Let penny stock equality ring from the majestic columns of the New York Stock Exchange!
Let penny stock equality ring from the lowly Pink Sheets Exchange!
Let penny stock equality ring from the electronics filled NASDAQ market site!
But not only that; let penny stock equality ring from old American Stock Exchange!
Let penny stock equality ring from the manipulated OTC Bulletin Boards!
Let penny stock equality ring from every chatroom and message board. From every financial textbook, let penny stock equality ring.
And when this happens, when we allow penny stock equality to ring, when we let it ring from every market and every website, from every magazine and every newspaper, we will be able to speed up that day when all of God’s traders, penny stock traders and all other traders, Options and Forex, day traders and swing traders, will be able to join hands and sing in the words of the old penny stock trader spiritual, “Equal at last! Equal at last! thank God Almighty, we are equal at last!”
A study done in New York a few years ago found that people who ranked in the top 3% in every field had a special attitude that set them apart from average performers in their industries. It was this: They chose to view themselves as self-employed throughout their careers, no matter who signed their paychecks.
These are people who set goals, make plans, establish measures and get results.
Not seeing a ton on scan today, but I’ll admit I’m not putting my full effort into it either. I’ll be AFK most the day after 10AM or so.
Made a nice solid profit on $PLUG yesterday, kind of a risky play, but I decided to hold into the conference call. Lots of spiking in the morning but as soon as the call started it pretty much collapsed instantly. In the end happy with the profit though the risk to reward might not have been that great.
I’m currently short $VG overnight, I watched $ARNA all day long and never saw a good entry, so for some random and stupid reason I shorted $VG out of boredom. I’m basically flat right now, ideally I get out for a small profit or flat. This trade is annoying for sure. Pisses me off when I make decisions like that.
Comments above, still stalking for a short entry.
Made money shorting this last week, and thought about re-entry this week. Looks like it got crushed overnight so a tough miss.
I think this has solid positive news, but also a long history of spiking and failing.
Lots on watch today. All the shippers are in play again too, $DRYS, $FREE etc.
BLEGH, totally terrible miss by me yesterday. I was busy in the morning, super frustrating to see a play like this and not be able to trade it. I need to make sure my butt is in the seat every day. To many misses like this lately.
I have perpetual hate for this company.
Went short this into the close, they have an event today so that was probably a foolish choice. But after several misses yesterday morning I was “jonesing” for a trade.
I’m hoping this just goes crazy, that way I can get a short entry, lots of support right now.
Fat loss pills, a sector I have and always will aggressively short.
Watched this all day yesterday, and never went short when I should have several times, hoping for another spike to sell into.
Don’t compare to others, stop trying to hit home runs. It’s a lot like baseball – if you step up the plate trying to hit it out of the park every time there is a good chance you strike out. It’s better to get on base, singles and doubles score RBI’s and when you’re not trying … you hit it outta the park!