Sunday, June 15, 2008

THE MASTER OF GOING FASTER

When I got laid off from my job, I contacted my old friend Muddy whom I had kept in contact with over the years after meeting him in a bookstore in the investing section of that store.
I told him I was finally going to try and get serious with his approach.
Up until then I used the same old same old stuff most everyone uses and I basically stunk at trading that way.
So I asked for a huge favor in that after reading through his blog a few times and trying to get the gist of it,would he mentor me live trading for a few weeks since we live so close.
He said he'd be glad to and his stuff absolutely turned my trading around to where I am today.
I'll never ever be him but that's ok.
For me even remotely close is way good enough.

Turning me on to the Scott hod list and almost demanding me to learn the former runners and the high dayranging stocks so I could train my eyes to see them when they started to roll on that hod list was the best advice I'd ever gotten in over 14 years of trading.
In the few weeks with Muddy when he was mentoring me,
I could not believe what I was seeing with him and that scrolling hod list.
He was catching stocks on their first vol spike breakouts from that list that were running 10-20-50% in less than an hour,sometimes minutes. When we checked later comparing news wire hits and time of the stock breakout,Muddy was catching many of these even BEFORE the news hit the wires!
When I said to him that was unreal, he just laughed and shrugged and said,”happens almost everyday,no big deal.”
No big deal??, dude, I said,that is WHACK!!

He is faster than a bullet from a gun.
He is "the master of going faster"
Thanks to him and others also ( especially Timmay who Muddy also turned me onto for learning how to SHORT these low priced junkers ) who have helped me along the way.

The words of this song fit almost perfect!




George Harrison
Faster lyrics

Chose a life in circuses
Jumped into the deepest end
Pushing himself to all extremes
Made it - people became his friend.

Now they stood and noticed him
Wanted to be part of it
Pulled out some poor machinery
So he worked til the pieces fit.

The people were intrigued
His wife held back her fears
The headlines gave acclaim
Hed realized their dreams.

Faster than a bullet from a gun
He is faster than everyone
Quicker than the blinking of an eye
Like a flash you could miss him going by
No one knows quite how he does it but its true they say
Hes the master of going faster.

Now he moved into the space
That the special people share
Right on the edge of do or die
Where there is nothing left to spare.

Still the crowds came pouring in
Some had hoped to see him fail
Filling their hearts with jealousies
Crazy people with love so frail.

The people were intrigued
His wife held back her fears
The headlines gave acclaim
Hed realized their dreams.

Faster than a bullet from a gun
He is faster than everyone
Quicker than the blinking of an eye
Like a flash you could miss him going by
No one knows quite how he does it but its true they say
Hes the master of going faster.

No need to wonder why
His wife held back her fears
So few have even tried
To realize their dreams.
Faster than a bullet . . . (repeat chorus)

5 comments:

Ben Bien said...

Mike,

Great post, I love how you show your appreciation for Muddy and what he's taught you. It truly is beautiful for people to teach one another and I feel the same gratitude towards this blog and Tim's.

Happy Trading,
Ben

13th said...

thanks Ben,

And the cool thing is, if you've ever listened to Muddys radio interview is how his uncle, that turned about 250K into 3 mil back then in '65, taught him and how he never forgot that his uncle made him promise if he ever got real good at trading to try to help others ...for free. Muddy went on to try to teach others and
Muddy told me more than once he remembers that exact moment his uncle said that from over 40 years ago.

Jason said...

Mike,

Thanks for all your help...On that Scottrade scrolling HOD list, you are actually buying into these breakouts correct?...NOT shorting them?

Jason

13th said...

Jason,

correct, long

But if they start to turn down,especially if this is the 2nd and better yet the 3rd day of a run,they can be a short candidate if they go red or breaks down through an even dollar mark after falling back from its hods 5-8% i usually use.

So it's not just a certain buy off the list but if you put them on watch the rest of the day some become decent shorts.
The ones i like alot are the pre market leaders that go red.
See my 6/12 post about that,PRE MARKET LEADER DROPS, if you haven't already.

My certain buys off the scott hod list are usually former runners that I have come to know and/or ones on my weekly high ADR30 list and ones on that list that keep reappearing month after month.

Anonymous said...

Thanks for all your hard work that is involved in your posts.

They are most valuable and appreciated as such.