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StockTwats Launches: What Stocks Are You Losing Money On Now?

Posted on October 19, 2008
Filed Under Web 2.0 Kool Aid |

Last week, I called the individuals on Twitter “a waste of the cotton and linen fiat currency is printed on.”

And now there’s apparently a service that will make that evident for all to see.

Howard Lindzon, who has been buying Google for months (sending his money my way all the way down), has launched StockTwits, a service that is built on top of Twitter and asks “What are you trading now?”

I still prefer Bangr, which asks “Who are you fucking now?”, but for those who want bad stock picks, StockTwits looks to be a useful service.

And with Lindzon’s backing, it’s sure to be a loser.

I called Lindzon a fool in mid-September and maintained my Idiot rating on him on September 30.

And apparently he finally figured it out:

The landscape going forward is going to be one of the most difficult investment environments of all time. Lot’s of capital, confused shareholders, new rules, new government likely, endless debt and chaos from the crash ripples and confidence shocks.

We may rise 1,000 more fast points but I will just keep liquidating.

When I see hundreds of new all-time highs on a regular basis, you will see me back talking about stocks on a regular basis.

Otherwise I am heading back to entrepreneurship and helping the companies I invested in along. Thanks for putting up with the brief crazy foray into trading.

Don’t thank us, Howard. If anything, I should be apologizing to you. If only I had reached out to you more aggressively, perhaps I could have convinced you that you weren’t the stock market’s version of Miss Cleo.

Of course, we really shouldn’t feel too sorry for Lindzon. He now has “fantastic average prices in some of my favorite brands now which I have been blogging and tweeting including Visa, Amex, Apple, Google, Electronic Arts, Nintendo, Adobe and Salesforce.com.”

Note to the clueless: “fantastic average prices” means that your trades are deep under water and you’ve kept adding on to them so that the average price you’ve paid per share of declining stock looks a little bit less painful.

Smart traders and investors don’t “average down,” and, in fact, this is one of the most amateurish mistakes one can make.

Here’s a word of advice: “stock picks” from twats on Twitter is noise. If you want to make money in the stock market, all you need is a price chart. At the very least, it’ll keep you from losing your shirt (which we definitely want you to keep if you look like Robert Scoble).

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