00:00:10
Wall Street takes the brightest people and
smashes them into the pavement on a regular
00:00:15
basis.
00:00:17
There’s only one bottom line on Wall Street
and that bottom line is how much money you
00:00:24
make.
00:00:25
This is like being in a fox hole all day long
with your enemies.
00:00:29
I’ve seen many people come close to blows
over a transaction.
00:00:32
Greed is ugly.
00:00:36
Make as much money as you can so that you
can get out of there before it turns you to
00:00:39
the dark side.
00:00:56
Wall Street is all about greed.
00:00:59
The worst of human emotions.
00:01:01
It’s not a good place to be but it’s great
to try and make some money.
00:01:07
You know, that’s capitalism.
00:01:08
I started my own hedge fund senior year in
college in March 2003.
00:01:13
I work out of my apartment.
00:01:14
I commute from my bedroom to my living room.
00:01:18
I can do this pretty much from anywhere I
have an internet connection.
00:01:23
Back in 1999, the stock market was going pretty
crazy.
00:01:26
I was in high school.
00:01:27
My parents gave me $13,000 of my bar mitzvah
money put into a discount online brokerage
00:01:32
and I turned that $13,000 into a fully audited
pre-taxable $1.65 million.
00:01:37
Boom.
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It all happened freshman year in college.
00:01:39
I pretty much made a million dollars in 5
months.
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You little bitch.
00:01:44
I’m waking up in my dorm room and up $20
grand in bed.
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It almost wasn’t real like a video game.
00:01:49
That was sweet.
00:01:51
Tim Sykes is a trader I’ve been reading
about over the years and I’ve had my eye
00:01:54
on him.
00:01:55
Two lane sophmore/junior launched a hedge
fund out of his dorm room and all I know about
00:02:00
his trading style, his pedigree and his smarts.
00:02:04
You watch him, he’ll have $20-$30 million
under management soon.
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I’m 25 and I’m looking for respect because
I haven’t gotten any even though I’ve
00:02:12
been doing this for 8 years.
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People still don’t take me seriously.
00:02:16
That’s fine.
00:02:17
I plan on doing this another 50 years.
00:02:20
9:29 – the market is about to open.
00:02:22
There it is.
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It’s 9:30.
00:02:24
Tim has been trying to find investors, but
at 25 it’s been difficult
00:02:25
9:29 A.M.
9:30 A.M.
00:02:26
BOB NUNN (AMEX Specialist):
You know it’s sort of unusual market sold
00:02:34
off about 50 points no good reason.
00:02:38
The stocks have been under pressure starting
to climb on the buy side.
00:02:41
MIKE:
It’s 4900 shares of ATS.
00:02:44
TIM:
The markets going haywire.
00:02:46
This is all of the buyers and sellers.
00:02:47
Everyone’s just panicking and shitting in
their pants right now.
00:02:50
It’s going to be a crazy day.
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MIKE:
You bought 4800 shares of (BLEEP).
00:03:01
BOB:
I’m Bob Nunn.
00:03:02
I’m a specialist and managing director of
floor operations for Cohen Specialists on
00:03:06
the floor of the American Stock Exchange.
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MIKE:
2700 shares of Power and Trades sold?
00:03:11
Another 1500 shares take ?
BOB:
00:03:13
We’ll certainly put our best effort.
00:03:14
Mike Konoff and I are monitoring 12 different
securities.
00:03:19
Right now it’s off uh about 12% on the day
with some news this morning.
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TIM:
The markets are down right now because of
00:03:25
the plot discovered to uh bomb the Holland
tunnel.
00:03:30
FBI reports possible plot to bomb Holland
Tunnel
00:03:31
GUY DeChimay (Hedge Fund Manager):
The markets are not happy.
00:03:33
The markets are not happy at all.
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There’s a lot of things to be worried about.
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It’s not a time to run in and buy the dip
at the moment.
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You don’t want to let one mistake to undo
everything you’ve just done for months so
00:03:50
we’ll be playing it close to the best and
very conservatively.
00:03:56
Guy runs a high performing hedge fund
BOB:
00:03:57
This is one of the busier areas we have on
the floor so it requires a lot of attention.
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Really what we’re doing – we’re helping
to transition price moves both up and down.
00:04:09
The American Stock Exchange if you look at
the structure of the building, the booths
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behind us are high in the air.
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That’s where the clerks used to lean over
and with hand signals deliver the orders to
00:04:19
the brokers on the trading floor long before
we had cell phones down here and the reason
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we used to do that was that what we were used
to when we were out on the street.
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The clerks used to hang out the windows of
the building surrounding the Wall Street area
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and used to hand signal orders to the brokers
that were standing in the street below and
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those brokers would move from lamp post to
lamp post where different securities were
00:04:38
traded.
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Finally in 1921, we decided to build a building
and move indoors and stay out of the elements
00:04:44
and this is the building that you see behind
us today.
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SANDRA NAVIDI (Lawyer/Deal Maker):
I’m in the process of closing a loan fund.
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The target slice is going to be $500 million
dollars.
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We’re getting the marketing materials out
to potential clients and seeing approximately
00:05:02
how much they will commit.
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This is not good.
00:05:06
This is going to create a major headache for
me today because the colleague didn’t do
00:05:12
what he was supposed to do last night which
is send the documents that were necessary
00:05:17
to close today and if we can’t close today,
we’re going to lose the deal.
00:05:22
There is just so much you can do yourself
and then you have to rely on outside service
00:05:27
providers such as lawyers and auditors but
it’s very important that everybody is with
00:05:32
the program so it stays on track.
00:05:34
Sandra has to close her deal today
BOB:
00:05:35
I’m usually on the road by a quarter after
5:00 or 5:30 and I’m in the city by 7:00.
00:05:39
There’s a lot to do, a lot to get ready
for.
00:05:42
I’d like to know all of the positions and
what’s going on in the world, what happened
00:05:46
overnight?
00:05:47
Market opens up at 9:30 and from there on
in my day is filled with just a whole host
00:05:52
of different things.
00:05:53
Bob is a former US Marine
Guy on floor with BOB:
00:05:54
IFO to the moon, Alice.
00:05:55
Ah, you missed it.
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MIKE:
Sold!
00:05:57
Guy on floor with BOB:
8,000 trades at 92 take off.
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BOB:
The way a transaction takes place.
00:06:01
You’re sitting at home and you decide you
want to buy a security.
00:06:04
You call up your broker, say “I want to
buy this stock”.
00:06:07
That broker will intend call his representative
on the American Stock Exchange.
00:06:11
That broker will take the order from the sales
rep and he will take it to what they call
00:06:16
the specialist post.
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That’s where we stand all day.
00:06:18
That’s a central location for all of the
transactions that they place in this particular
00:06:22
security.
00:06:23
The broker wants to buy the stock, he’ll
pay the offer – the price that someone is
00:06:28
willing to sell it at the lowest possible
price.
00:06:30
Walking around the aisles are mainly brokers
and traders but the guys behind the posts
00:06:34
are the specialists.
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They are the ones that are handling the order
flow.
00:06:39
So, like the traffic cop, auctioneer and trader
all in one.
00:06:43
Only 25% of transactions involve a person.
00:06:44
75% are done electronically.
00:06:45
Specialists make money on commission and trading
TIM:
00:06:47
I just shorted 2100 shares for this stock
betting that it will go down 597 right now,
00:06:54
it’s 590.
00:06:56
I short sell small cap and micro-cap equities
so this is the chart of the stock I’m playing
00:07:01
and you can see this is uh the past 10 days.
00:07:03
It’s really done nothing up until here a
newsletter promoted it, but it’s bullshit
00:07:09
news after I did all of my research last night.
00:07:11
I’ve come to the conclusion that this stock
is going down big today.
00:07:15
Look at this.
00:07:16
This stock is about to break out.
00:07:18
It’s going baby.
00:07:19
Give me a damn good short letter.
00:07:21
Mark the time it’s at.
00:07:23
10:15 a.m.
00:07:24
It could keep going higher or my guess end
of the day it closes as $5.60.
00:07:32
My whole strategy is trying to find these
stocks that shouldn’t be hot.
00:07:36
This, I believe, is one of them.
00:07:39
Shorting is so mysterious.
00:07:40
It’s kind of like hedge funds or if you
run a short-selling hedge fund, huh.
00:07:44
God forbid you’re the fucking devil.
00:07:45
It’s unpatriotic.
00:07:46
I’m betting against American companies.
00:07:49
I’m rooting for them to fail.
00:07:51
Little do they know that the companies I’m
shorting, they don’t deserve to have a high
00:07:55
stock price so I’m not the bad guy.
00:07:56
I’m just taking advantage of the fact that
bad guys are out there.
00:08:00
When you’re short a stock, you’re basically
taking negative position um in the company
00:08:04
and, therefore, in order to take a negative
position, you have to borrow shares from somebody
00:08:09
who has a positive position.
00:08:11
So, it’s actually kind of a loan.
00:08:13
Short sellers make money when stock prices
go down
00:08:14
10:15 A.M.
00:08:15
Tim predicts close at $5.60
It is believed in the long run that 99% of
00:08:16
short sellers will lose money
Shares are borrowed through a broker
00:08:17
BOB:
When do you leave?
00:08:18
Why would you pay – huh?
00:08:19
You know what, tell Rob he just confuses the
hell out of me.
00:08:23
Why would you leave 3,000 shares to work?
3,100 shares?
00:08:28
To work?
00:08:29
This work is not easy at all.
00:08:31
You always have to be thinking.
00:08:34
Your brain takes a pounding.
00:08:36
We’ve had people with heart attacks on the
trading floor and had to be carried off.
00:08:41
So, there’s a high level of emotion and
there’s a high level of stress.
00:08:45
Everyday is a different scenario.
00:08:48
A Wall Street is a great place because you
can never have so many that pay so much for
00:08:59
adding so little.
00:09:02
I’m basically calling you to tell you that
I’m expecting to see
00:09:15
the documents today.
00:09:16
Um, let me stop you right there.
00:09:17
You shouldn’t have told me that it was going
to be ready yesterday because, I in turn,
00:09:21
told other people who were relying on this
and I’m very concerned.
00:09:26
To be quite honest with you, I expect to see
something by this afternoon.
00:09:31
A lot of this business is driven by deadlines.
00:09:34
Deadlines that have to be met because you
have a closing upcoming.
00:09:37
Can you put this away for me?
00:09:39
So right now I’m going to write him an e-mail
and the partner that he works with just to
00:09:44
make sure we’ll eventually get everything
that is necessary.
00:09:45
Sandra is trying to close a $500 million deal
TIM:
00:09:49
I’m betting 300 shares against this company
right now and I’m up on my $2,000 – up
00:09:54
$15.
00:09:55
I don’t want $15, I want $20.
00:09:59
I’ve got to get more greedy.
00:10:00
Oh, come on, give me that!
00:10:03
Boom!
00:10:04
$6.70.
00:10:05
Oh, look at this, it’s a beautiful fake
out.
00:10:07
It’s going right back up to $6.20 and meanwhile
the stock is breaking out.
00:10:11
It’s beautiful.
00:10:12
Beautiful!
00:10:13
In the afternoon, if the stock does what I
think it’s going to do, it should fade pretty
00:10:17
nicely.
00:10:18
This bathrobe is good luck.
00:10:22
Every single one of my major winning trades,
it’s been with me.
00:10:26
It says Timmy.
00:10:27
No logo.
00:10:28
My grandmother made this for me.
00:10:29
I made $554 on the day and it’s just small
scalping.
00:10:35
To make those $554, I’ve probably traded
18,000 shares so I’ve traded basically a
00:10:42
$100,000 worth of my capital even though I
have a big pile of money and I have other
00:10:48
investors.
00:10:49
I’m half the fund.
00:10:50
So, if I screw up, I can’t afford this apartment
any more and I like this apartment.
00:10:56
My goal is to build my hedge fund and get
taken seriously by the industry to show that
00:11:00
my strategy is viable.
00:11:01
So, I’m about to have a very wealthy potential
investor come over and I am going to explain
00:11:09
my whole strategy and basically try to get
him to give some of just his millions over
00:11:15
to me.
00:11:16
It’s tanking – why do you have to tank
right now?
00:11:21
This is why I hate planning meetings in the
middle of the day because right when you plan
00:11:26
the meeting, the stock is about to tank.
00:11:29
And then you’re conflicted, do I take the
meeting which is much better long term or
00:11:33
do I try to make a few hundred, maybe a few
thousand dollars.
00:11:35
We are sort of a biased short term hedge fund.
00:11:40
The key is just finding these small caps and
micro-caps that are doing something because
00:11:45
there’s 100’s, thousands of small caps,
micro-caps that do nothing.
00:11:48
That’s where my experience comes in handy.
00:11:50
You know after eight years of doing this crap,
the stock is breaking perfectly.
00:11:55
I have to play this.
00:11:56
You’ll see, come here.
00:11:57
Up to $6.40 three times and then it kind of
hung around $6.20 and now it’s banging around
00:12:06
$6.05 again.
00:12:07
4,000 shares, yeah.
00:12:08
Take out 602.
00:12:10
Take out 6.
00:12:11
There it is.
00:12:12
Boom!
00:12:13
The price hit 6 and took out 6.
00:12:15
It immediately went to $5.90 because there
went nothing but sales for those few seconds.
00:12:20
So the key is to buy high into that.
00:12:23
Take out the 6s.
00:12:26
Bam!
00:12:27
Right now I have 2400 shares left.
00:12:30
These stocks are so volatile that they can
flip on a dime like that as of 1:28 p.m.,
00:12:35
I’m up $1,086.
00:12:36
And I’m out.
00:12:37
While waiting or his stocks to drop, Tim starts
scalping for small gains
00:12:38
Scalping: a trading strategy that tries to
make profits on small price moves
00:12:39
11:41 A.M.
00:12:40
up $554
Minutes before his meeting, Tim’s short
00:12:41
begins to drop
Alexander Palmaris (Potential Investor)
00:12:42
Minimum investments in hedge funds are usually
in the range of $100,000 to several million
00:12:43
1:28 P.M.
00:12:44
up $1,086
Tim sells his remaining shares in order to
00:12:45
continue his meeting
GUY:
00:12:47
One of the things that trips people up all
the time in the trading game is that once
00:12:52
you’ve hit your objective, you need to pull
yourself out of the market and rest for a
00:12:56
moment.
00:12:57
We do that all the time.
00:12:58
We’re not just simply always in the market
waiting for the opportunity to kind of flow
00:13:04
it along and try to grab it.
00:13:06
We’re sitting lying in wait.
00:13:07
CHRIS LEONARD (Senior Trader):
You hit that perfect?
00:13:09
GUY:
You hit it right on the negative 20.
00:13:11
You’re a maniac.
00:13:12
CHRIS:
Is that perfect or what?
00:13:13
GUY:
It’s frickin hysterical.
00:13:14
CHRIS:
Now all we have to do is increase these guys.
00:13:17
GUY:
Buy a gazillion.
00:13:19
RICHARD TAGLIANETTI (Manager Acquisition):
The art of what Guy does is just to identify
00:13:23
the rhythm of the market and when he’s in
synch with the rhythm of the market, he’ll
00:13:27
just stay with it.
00:13:28
GUY:
I work along side with Chris Leonard, my senior
00:13:30
trader.
00:13:31
He is responsible for taking my decision as
to what we want to put into the book and determining
00:13:36
what is the most effective way to be able
to actually be able to put the trade on.
00:13:41
Sometimes people just say why don’t you
just buy it.
00:13:43
At times it may be more prudent to buy it
over the course of the day or over the course
00:13:48
of several days.
00:13:49
Where Chris becomes an enormous value.
00:13:51
He is in a position to really understand what
is going on in the marketplace.
00:13:55
CHRIS:
You don’t just buy stocks, you also sell
00:13:57
short stocks which basically gives you the
ability to make money in a downward market.
00:14:01
When you are conditionally going into positions
and then obviously exiting them, it’s a
00:14:07
little hectic but you’ve got to expect that.
00:14:09
BOB:
Is this the next IFO?
00:14:16
It’s fitting the profile.
00:14:21
The screen up here is telling me across-the-board
what the market is doing.
00:14:24
Uh, each one of these panels’ lines and
columns here divided up by the stocks we have
00:14:29
here.
00:14:30
Each one of the rpes is responsible for running
their own panels here.
00:14:34
GUY ON FLOOR:
I’ll be selling (BLEEP) with 10,000 on this.
00:14:42
BOB:
If someone does come to the post that wants
00:14:44
to sell a particular stock and there’s no
one around to buy it, we as specialists have
00:14:48
to buy it.
00:14:49
That’s a federal obligation.
00:14:50
We have to maintain and fair ruley market.
00:14:53
We have to be willing to put our capital on
both sides – whether it’s the buy side
00:14:57
or the sell side.
00:14:58
It doesn’t matter whether it’s 100 shares
or a million and a half shares.
00:15:01
There is no natural buying and selling occurring
all the time.
00:15:05
A lot of times you may have 5 or 6 buyers
out here and we’re the only seller.
00:15:09
And it has to be done in an orderly fashion
until such time that we can find natural sellers
00:15:15
to accommodate those buyers.
00:15:16
But let me get this clear, if there’s no
buyers, we have to buy.
00:15:21
The day of the ’87 crash, specialists were
on the floor trying to borrow money against
00:15:25
their insurance policies and double and triple
mortgage their homes to stop the market from
00:15:30
free falling.
00:15:31
Someone needed to step in and buy when no
one else wanted to buy.
00:15:35
And that’s where a specialist comes in.
00:15:38
BOB:
No, no.
00:15:39
Stop the lines on the phone.
00:15:40
Record.
00:15:41
GUY ON FLOOR:
I’m showing 2,000 on 68.
00:15:42
BOB:
Done.
00:15:43
There are no contracts here.
00:15:44
Everything is done verbally.
00:15:45
Your transaction and your word is your bond.
00:15:48
So, you have to have a high sense of integrity
to survive down here.
00:15:52
One of the unique parts of the Amex here is
I’ve seen many people come close to blows
00:15:58
over a transaction and then be seen at a bar
on the corner having drinks after work.
00:16:03
So, you know, it’s a passion.
00:16:04
There’s a lot of passion that goes on here.
00:16:06
It’s not monopoly.
00:16:07
It’s real money.
00:16:08
I actually threw a $3,000 monitor at a guy
once ‘cause he cut me out of a trade I actually
00:16:14
was entitled to.
00:16:15
It cost me a $100 fine.
00:16:17
I deserved it.
00:16:19
I got a little overheated.
00:16:20
Wall Street is a small community.
00:16:23
Everybody knows everybody.
00:16:24
It’s a family – it’s a tight group.
00:16:26
It’s a passionate group.
00:16:27
BREAK 10 Sec
GUY ON STREET:
00:16:31
I live on Wall Street – the New York Stock
Exchange.
00:16:35
Sure it’s a place of worship today.
00:16:37
But before the late 18th century, somehow
it didn’t even exist.
00:16:41
Before then, traders and speculators would
gather under a buttonwood tree at the foot
00:16:44
of Wall Street to trade informally.
00:16:46
In 1972, they finally got their act together
and they started the New York Stock Exchange.
00:16:52
Today the Exchange has a global capitalization
of $21 trillion.
00:17:00
SANDRA:
I’m working with Rich Tag on discovering
00:17:10
new managers that have great potential that
haven’t really broken into the market yet.
00:17:15
Managers on Wall Street, individuals who decide
which securities to buy and sell
00:17:16
RICH TAGLIANETTI (Manager Acquisition):
My dream is to find a Guy in a loft in SOHO
00:17:19
whose doing an incredible job and no one in
the world has heard of him.
00:17:23
I explain some of the process to Sandy and
Sandy is introducing undiscovered managers
00:17:30
at a rate of 2 or 3 a week.
00:17:32
She just put word out that she was looking
for these types of managers and everyone wants
00:17:36
to help Sandy.
00:17:37
SANDRA:
I’ll be meeting with Bruce today to evaluate
00:17:41
whether there could be a good chance of raising
capital for him.
00:17:46
To be able to judge him better, you have to
meet their staff and you want to hear them
00:17:51
elaborate on their investment techniques.
00:17:53
BRUCE GALLOWAY (Hedge Fund Manager):
We’re a very, very specific fund and investment
00:17:58
turnarounds.
00:17:59
The way we play the game is, we hit a home
run 10% of the time.
00:18:03
That means that $2 stock going to $20 or $1
stock going to $12 or a $3 stock going to
00:18:08
$15.
00:18:09
SANDRA:
How would you describe your strategy and how
00:18:10
can it be, because it seems like you’re
mostly long?
00:18:13
BRUCE:
Typically, we go into a situation and in turnarounds
00:18:17
it’s management, management, management.
00:18:19
We bet on management.
00:18:21
And turnarounds take a lot of time.
00:18:22
So, we’re patient but if management doesn’t
perform and we give them a lot of slack and
00:18:27
they don’t get the job done, we get proactive.
00:18:31
We get involved with the company.
00:18:33
We help the company execute their business
plan and sometimes we get control, you know.
00:18:37
We call up other shareholders and we sort
of bound together to try and get control of
00:18:41
the company and make things happen because
we want to make money on our positions.
00:18:44
Bruce’s fund is unusual in that it rarely
short sells
00:18:47
Bruce invests in companies that had high stock
prices and recently lost value
00:18:48
BRUCE:
We have beautiful views of 5th Avenue here.
00:18:49
That’s what makes it special.
00:18:50
SANDRA:
After 9-11, most money managers that used
00:18:52
to be on Wall Street moved up to mid-town
and Wall Street is more of a synonym of that
00:18:57
whole culture and industry rather than a particular
geographical area.
00:19:03
BOB:
For the last half hour, the floors been busy.
00:19:08
It’s really – sometimes you really concentrate
– expecially when the markets starts to
00:19:13
make a decent move like it is right now.
00:19:15
There’s nothing really out there to show
why it should have sold off.
00:19:19
Um, you know, 30% of what it was up in a day
but uh, it’s taking a good hit here.
00:19:25
3:34 P.M.
00:19:26
MIKE:
You bought 4,900 shares of ATS.
00:19:27
BOB:
Something caused it to sell off here in the
00:19:28
past few minutes.
00:19:29
MIKE:
5,000 trades of 50.
00:19:30
You go 2,500 shares
BOB:
00:19:31
Sounds like HOM is picking up a lot more.
00:19:32
MIKE:
I’m out.
00:19:33
He needs to know what he’s doing.
00:19:38
Bought 4,800 shares of (BEEP).
00:19:40
You bought 4,000 share of ATS.
00:19:44
GUY:
At least 2,000.
00:19:46
MIKE:
Alright, I’m going after you.
00:19:49
Listen, you bought 4,400 shares at half full.
00:19:51
BOB:
He’s almost done.
00:19:54
He leaves nothing.
00:19:57
You got 4 minutes.
00:20:00
MIKE:
He says its sold.
00:20:05
57,000 sold.
00:20:06
Trades at 56.
00:20:09
54 5,000
GUY ON FLOOR:
00:20:13
90 good way?
00:20:16
MIKE:
54 over 3,000 shares.
00:20:21
2,000 at 59.
00:20:24
BOB:
The most challenging thing is having to make
00:20:27
split-second decisions.
00:20:28
You can’t really think that fast even though
you believe that you can.
00:20:35
You can’t.
00:20:36
You’re going on instinct.
00:20:37
You’re going to reaction and that’s the
toughest part of the job.
00:20:39
It’s having to stay focused.
00:20:40
MIKE:
5,000.
00:20:41
2,000.
00:20:42
57.
00:20:43
Offers are light after that.
00:20:44
2,000 trades at 57.
00:20:45
18.
00:20:46
61 for 2,000.
00:20:48
2 taken.
00:20:49
2,000 trades.
00:20:51
62.
00:20:52
That’s 65.
00:20:53
5,000.
00:20:54
65.
00:20:55
1.
00:20:56
5.
00:20:57
5,000.
00:20:58
BOB:
20 seconds.
00:20:59
MIKE:
1 5 5,000.
00:21:01
BOB:
Customers got no room.
00:21:05
That’s 10 seconds.
00:21:07
MIKE:
No. 63 for 4,000 take.
00:21:11
64.
00:21:12
BOB:
Not enough to get there.
00:21:16
4,000, 5,000 shares minimum.
00:21:19
MIKE:
6,000 trades at 63.
00:21:22
BOB:
Close them up.
00:21:25
BOB:
Amazing – a lot of stress.
00:21:27
BOB:
I can’t tell you how many times I’ve had
00:21:32
what I felt were chest pains, numbness in
the arms, sweaty forehead and sweaty palms
00:21:38
and dizziness.
00:21:39
It’s happened at least a half a dozen times.
00:21:41
It’s the most exciting job you could ever
have.
00:21:43
If you don’t love this place, don’t work
here.
00:21:47
You have to love it.
00:21:48
You have to be passionate about it.
00:21:49
You have to really care about it.
00:21:50
It’s a unique person that’s uh able to
sustain a career.
00:21:54
4:03 P.M.
00:21:55
TIM:
This is an endless curiosity in trying to
00:21:57
predict the future.
00:21:59
This is the afternoon fade that I’m talking
about.
00:22:01
I was about 2 hours too early because once
it cracked 5.90 and see it when straight to
00:22:07
5.50.
00:22:08
I did not take advantage of it.
00:22:10
I would’ve gotten to the $4,000 barrier
that I wanted.
00:22:13
This is ridiculous.
00:22:14
I had 14,000 shares left.
00:22:18
This is fucking perfect and I fucking missed
it.
00:22:20
Check back.
00:22:21
You check back.
00:22:22
I said 5.62 close and that was my call at
10am.
00:22:25
Rewind it.
00:22:26
We can play this over and over again.
00:22:29
I still fully expect this to tank in the afternoon
and at the end of the day it closes at $5.60.
00:22:35
So don’t fucking tell me you can’t predict
where the stocks are going because this was
00:22:40
fucking dead on.
00:22:42
This is opportunity lost.
00:22:45
In the end we all learn a valuable lesson
– not to walk away from the computer in
00:22:50
the mid-afternoon when you think there’s
going to be a mid-afternoon fade.
00:22:54
That’s it.
00:22:55
Lesson learned.
00:22:56
Goodbye.
00:22:57
Tim sold his stocks prematurely because of
his meeting
00:22:59
CREDITS:
BOB:
00:23:00
Ok.
00:23:01
It’s a public offer.
00:23:02
It’s not me.
00:23:03
Ok.
00:23:04
So, stop pulling my chain.
00:23:05
TIM:
Some of the ladies like me.
00:23:06
Some of the ladies do not.
00:23:07
Um, I don’t even know.
00:23:10
I don’t know what I’m saying, but it just
sounded good.
00:23:14
SANDRA:
Oh, so cute.
00:23:16
We have the same hairstyle, too.
00:23:19
GUY:
I’ll have two orders of fries and coke with
00:23:23
that, please.
