madoff should be so good!
Posted by on 12/12/2008 at 10:03 AM
Daytrading 2.0
Thursday, December 11, 2008 - 7:17 pm
Do you know people making money in this market?
If so, they might be high-frequency traders. The volatility is well suited to the nimble among us, and the poster boy for today’s market might be Wall Street Warrior Tim Sykes.
He is just killing it - trading, writing, and teaching and earning well over 100k the last two months.
Sykes’ detractors are mostly unemployed at this point, and it looks like he will get the final laugh. I called him for a comment as I went to press, but he was taking a nap. No worries for Tim, and he is probably a strong contender for my 2008 Man of the Year, believe it or not.
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How My Blog Earned $114,371 In October & November
TimothySykes.com
From Robes to Riches - Season One Episode 3 Wall Street Warriors
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The content contained in this blog represents the opinions of 1440 Wall Street. This commentary in no way constitutes a solicitation of business or investment advice. It is intended solely for the entertainment of the reader, and the author. No Positions
Comments:
If only Mr. Sykes would take the advice I offered him freely. He would do much better trading volatility using options than taking directional bets on penny stocks. He’s under the misconception that penny stocks are the superior investment, but once gamma is factored in, options on large cap stocks offer superior returns, with less risk. If he would only follow his strategy to its logical conclusion, in the much deeper options market, he could be… great.
Posted by on 12/12/2008 at 08:05 PM
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