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David Schrader
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Dave is currently working as an Account Rep at a prominent financial services firm in Manhattan. In addition, he serves in the iMentor program and is under contract with a startup hedge fund for use of an algorithm he discovered. Prior to that David worked as an Equity Associate at First... More
  • The Most Expensive Point 0 comments
    Sep 30, 2010 11:39 AM | about stocks: QQQ

    From reading investment and trading books over the past several years I've come to learn a valuable lesson time and again: the last point in a bear or bull cycle is the single most expensive point you'll ever chase. Yet for some reason I thought I had discovered the 'last point' in the bull move -> see my previous post on hedging/shorting. While I still agree it was the correct move it was certainly premature. Let the market tell you where it's going prior to making significant changes, unless you have a real edge in that particular situation.

    Lesson (hopefully) learned.

    Currently holding QQQQ Nov $48 puts. Looking forward to a multi-bagger on this one.



    Disclosure: holding QQQQ Nov $48 puts.
    Stocks: QQQ
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