cleaning up
It’s been a good week in the financial markets for those of us who are long.
Most of you are probably happier than a pig in shit to know that Big Dick is long, too. You’d better bet I am!
I would hesitate to say that I “cleaned up” this week, but it is nice to have a positive week. I would say with confidence that I am cleaning up this morning. However, the cleaning up I am doing today is discarding a bunch of junk—including stuff in my file cabinet that has been there for years. I’ve had a couple of reminders yesterday and today about what it was like when we were partying like it was 1999, back in 1999.
I used to keep stocks that I was trading in my portfolio at Quicken.com. As a matter of fact, I still do. I used to keep a detailed spreadsheet on my weekly profits and losses and I printed the portfolio page in Quicken every Friday night. I keep a spreadsheet today, but it contains my totals and I don’t keep track of the movements of individual stocks in my spreadsheet. Today, I am throwing away a pile of those old printouts of the portfolio in Quicken. I don’t have to worry about getting rid of the old spreadsheet. I lost a hard drive and lost the spreadsheet a few years ago. I know some of you are thinking that I should have backed up the file. Yeah, like I don’t know that? Where were you with your advice four years ago?
In 1999, I knew the Internet was the future and I traded Internet stocks. One of my pets was CMGI, an Internet incubator. CMGI acquired Internet startup companies for a song and then sold them off when they were worth tons of money. My printout on Friday, November 12, 1999, shows that CMGI was trading at $101.50. On Thursday, December 23, 1999, it was trading for $270.81. The markets must have been closed on Christmas Eve, as Christmas was on a Saturday.
Holy Fuck! Had I been holding a couple of yards of CMGI during that period, I would have been able to afford that yellow Ferrari. It goes without saying that when you’re driving a yellow Ferrari it can induce high-quality women to pop off their seatbelt, lean over the console, unzip your pants and improve your quality of life. Since I’m still driving the same car today I was then, I must have not been holding a half-million dollars worth of it. But I never would have held that long, anyway. My trading pattern back then was to take the first grand in profit off the table and put it into my pocket and let the other high-fliers take the risk of the rest of the ride.
Just as a brief aside, the NASDAQ closed on December 23, 1999, at 3969. The Dow closed at 11405 and the S&P at 1458. Shit! We still had another 25% to go on the ride to March 2000, when the markets hit their highs.
Holy Fuck! We still had three of the greatest months in the history of the stock market in front of us. That was when Dick Clinch was one liquid motherfucker, and getting more liquid every day.
The other part of the equation is that yesterday I received two large envelopes in the mail. They were telling me I could participate in class action suits to recover damages for money I had lost trading Commerce one (CMRC) and E-Piphany (EPNY). I can get one cent for each share of the former I owned and two cents for each share of the latter, less a 33% commission for the lawyers. Big fucking whoop! I used to trade these in odd lots of ten shares, because they traded in hundreds of dollars per share. I could net a dollar or two.
Fuck, that won’t even buy a blowjob in Thailand.
I remember 1999 and I remember the party, but I barely hung on to half the money I made—which is better than most people did—but it is still a bunch of shit. Maybe this time it will be different, but I’m not counting on it.
Or my name isn’t Dick Clinch.
Most of you are probably happier than a pig in shit to know that Big Dick is long, too. You’d better bet I am!
I would hesitate to say that I “cleaned up” this week, but it is nice to have a positive week. I would say with confidence that I am cleaning up this morning. However, the cleaning up I am doing today is discarding a bunch of junk—including stuff in my file cabinet that has been there for years. I’ve had a couple of reminders yesterday and today about what it was like when we were partying like it was 1999, back in 1999.
I used to keep stocks that I was trading in my portfolio at Quicken.com. As a matter of fact, I still do. I used to keep a detailed spreadsheet on my weekly profits and losses and I printed the portfolio page in Quicken every Friday night. I keep a spreadsheet today, but it contains my totals and I don’t keep track of the movements of individual stocks in my spreadsheet. Today, I am throwing away a pile of those old printouts of the portfolio in Quicken. I don’t have to worry about getting rid of the old spreadsheet. I lost a hard drive and lost the spreadsheet a few years ago. I know some of you are thinking that I should have backed up the file. Yeah, like I don’t know that? Where were you with your advice four years ago?
In 1999, I knew the Internet was the future and I traded Internet stocks. One of my pets was CMGI, an Internet incubator. CMGI acquired Internet startup companies for a song and then sold them off when they were worth tons of money. My printout on Friday, November 12, 1999, shows that CMGI was trading at $101.50. On Thursday, December 23, 1999, it was trading for $270.81. The markets must have been closed on Christmas Eve, as Christmas was on a Saturday.
Holy Fuck! Had I been holding a couple of yards of CMGI during that period, I would have been able to afford that yellow Ferrari. It goes without saying that when you’re driving a yellow Ferrari it can induce high-quality women to pop off their seatbelt, lean over the console, unzip your pants and improve your quality of life. Since I’m still driving the same car today I was then, I must have not been holding a half-million dollars worth of it. But I never would have held that long, anyway. My trading pattern back then was to take the first grand in profit off the table and put it into my pocket and let the other high-fliers take the risk of the rest of the ride.
Just as a brief aside, the NASDAQ closed on December 23, 1999, at 3969. The Dow closed at 11405 and the S&P at 1458. Shit! We still had another 25% to go on the ride to March 2000, when the markets hit their highs.
Holy Fuck! We still had three of the greatest months in the history of the stock market in front of us. That was when Dick Clinch was one liquid motherfucker, and getting more liquid every day.
The other part of the equation is that yesterday I received two large envelopes in the mail. They were telling me I could participate in class action suits to recover damages for money I had lost trading Commerce one (CMRC) and E-Piphany (EPNY). I can get one cent for each share of the former I owned and two cents for each share of the latter, less a 33% commission for the lawyers. Big fucking whoop! I used to trade these in odd lots of ten shares, because they traded in hundreds of dollars per share. I could net a dollar or two.
Fuck, that won’t even buy a blowjob in Thailand.
I remember 1999 and I remember the party, but I barely hung on to half the money I made—which is better than most people did—but it is still a bunch of shit. Maybe this time it will be different, but I’m not counting on it.
Or my name isn’t Dick Clinch.
posted by dick clinch at 11:54 AM
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