Mar

24

I used to love to play an opponent who couldn't win because he was trying to do something that would definitely lose. Like setting his feet leaning towards the left and hitting to right, or hitting me a drop shot when I was always fast enough to return it regardless of where it went. The Knicks are like that. They can't possibly win regardless of what they do, or how good the players are, because their system is bad. The 7 seconds shoot doesn't work. It's not percentage play.

Fortunately some others seem to realize it now and the coach says "with all the problems I have, I am not going to comment on others problems". Hopefully he realizes it's his problem not the players.

It reminds one of my friend Joe Yuhas, the Christmas tree guy, who tapped out on a silver trade, from the long side below $ 4 and I said, "you shouldn't have been so big" and he said "but I keep thinking what would have happened if I had been short. I could have made as much as I lost" and I said, "but Joe, it didn't matter whichever way you went, you would have lost either way".

Many systems that people use for markets are like that. And those who day trade and give an implicit vig of a few 100% a year, are in similar positions in the main. They play against people whose costs are 1/10 of theirs, capital 1000 times as great, (and they can borrow from a fairy godmother at 0 % also ), and who have much better equipment and speed. And if all those advantages fail, they can force one out at the close, only to move back to where the profit would have been realized at the next open. And yet, the game must continue.

There is hope if D'Antoni trades places with the fake doc as I asked the sullen Patrick Ewing to do who would consign the Knicks to eternal crossings of the river Styx if he were to get back. There is hope for day traders if they go stay overnight.

Jay Pasch writes:

Words of wisdom on the treachery of daytrade margin as the rope seller is glad to offer plenty of product with which to fashion one's own noose…

Kim Zussman comments:

Don't think it's all the broker's fault. Blame EMH. E.g, if all the rational, logical, comfortable, patternistic things are bid every tick, the only things left are irrational, illogical, uncomfortable, and non-patterned. The only people who thrive like that are successful traders and schizophrenics.


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2 Comments so far

  1. steve on March 24, 2011 2:04 pm

    I aaw a black swan at MSG last night. A Knick player actually stepped up and took a charge! Expect to see this on Bloomberg.

  2. Anonymous on March 29, 2011 10:09 am

    A Jap guy made billions by day trading, how do u explain this?

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