PEN from heaven.

[Mimosine]

I have a 'friend' whom I made playing BJ at the same shop everyweek or so. We both play the same "shift" the same day, since we have a nice game all to ourselves. But recently I found out that she works at another casino as a BJ dealer. She got swapped in on a table I was playing the other night and it took us a minute to make the connection - hey don't i know you - hey what are you doing here, blah blah blah.

so, i cut, then she puts the cut card in (6D), she cuts off 5 cards, no $hit, 5 cards, she then looks at it, realizes how ridiculous what she did was then cuts off a more humble 0.3-0.4 decks for a glorious 95% pen. i had vowed not to tip that night, but that changed....

sadly said pen didn't materialize anything too magnificient and slow players attenuated this unique opportunity as I only got to play a few shoes..... to add insult to injury, this occurance conincides with me moving 100 miles away from where i am now in the next week.

sad but true. :cry:

/end pointless post.

 

[rogue1]

lemonade

hi Mim-
Talk about having a GREAT friend! Don't let your 100 mile move stop you from playing at your friends table. Sounds like the drive would be well worth it to me!

 

[MEDITANK]

gonna miss you Mim, please keep in touch. Doing well at the biggest casino in the world: The smallcaps.

 

[Mimosine]

gonna miss you Mim, please keep in touch. Doing well at the biggest casino in the world: The smallcaps.

thanks man. was at one point bankrolled to try daytrading, but no longer, nor do i have the time. i know you'll do well though!

 

[MEDITANK]

With all of the freebie intro offers from amerisuck, you can open a small account and give it a try. Made bank on CMNN finally, but took over a year to bank that one. Sold it too early though :cry:

The only real sure money right now is to short all homebuilder stocks and that takes 25K in your account for margin requirements. That is alot of BR!

 

[Dyepaintball12]

Smallcaps are the way to go for sure. I pretty much daytrade and am a student and its good times.

 

[MEDITANK]

Been hammering XNN making good bank on that one, HSOA is a good short but I cannot give out the reasons why, sold that POS in the low 6's. LBTH are AAPL, GOOG, CMNN(new CEO has really changed investor sentiment), interesting sector as domain names are the real estate of the 21st century. They own a boatload of great names. PHLI is an interesting one. TASR is making a comeback and is probably a wise buy and just hold onto that one for awhile. All of the BS lawsuits have been defeated and they just rolled out a new product line to complement their existing stungun.

 

[BFC]

With all of the freebie intro offers from amerisuck, you can open a small account and give it a try. Made bank on CMNN finally, but took over a year to bank that one. Sold it too early though :cry:

The only real sure money right now is to short all homebuilder stocks and that takes 25K in your account for margin requirements. That is alot of BR!

I opened an ameritrade account cuz of all the free trades and promptly got hammered on DNDN..... whoops.

 

[Automatic Monkey]

Using preferred shares

With all of the freebie intro offers from amerisuck, you can open a small account and give it a try. Made bank on CMNN finally, but took over a year to bank that one. Sold it too early though :cry:

The only real sure money right now is to short all homebuilder stocks and that takes 25K in your account for margin requirements. That is alot of BR!

No do it the way Ed Thorp does. Find a brokerage with excellent margin terms. Go long on high-yield high-risk preferreds, and short the corresponding common stock. It's a money machine.

Why? OK you have a preferred that is paying 20%. It pays for a year and it dies- the value of both the preferred and the common go to zero and you lose nothing. But you made 20% on the long part of the deal and paid maybe 5-6% margin for the short part. Hard to make less than 14% return like that. If anything of the company is salvageable, preferred stockholders get paid before common stockholders so your long will always be worth more than the short.

Of course, this is only acceptable if you are amenable to a 10-15% steady annual return, in lieu of overnight riches. In other words, you have to be thinking like an AP instead of a gambler. I knew I was born to be an AP when I learned that the investment technique I developed years before I became a card counter was actually pioneered by the father of card counting.

The only way you can lose all your money on this is for a company's common stock price to skyrocket while it is unable to pay it's debts (the preferreds, which are essentially cash loans taken from the stock market.) Not bloody likely. The only way to lose any money at all is for the company's common stock to go up more than the price of the preferred shares. Preferred shares have something like a built-in cap on their price which is essentially the same as their redemption value, traditionally either $10 or $25 per share. When they are in junk-bond yield territory their market price is typically much lower than their redemption value, so you will have plenty of time to bail with no loss if the company suddenly comes upon good fortune. Usually when companies are issuing preferred shares, it's because they are stretched so thin for cash they can no longer get capitalization any other way.

 

[moo321]

Wowzers. It's like a spots arb without the sports. Is that a warrant hedge?

 

[Automatic Monkey]

Wowzers. It's like a spots arb without the sports. Is that a warrant hedge?

No it's more like being a loan shark! You're collecting money at higher than bank rate from your victim, and at the same time, you've taken out a life insurance policy on him. He pays you dead or alive.

 

[Knox]

I have a 'friend' whom I made playing BJ at the same shop everyweek or so. We both play the same "shift" the same day, since we have a nice game all to ourselves. But recently I found out that she works at another casino as a BJ dealer. She got swapped in on a table I was playing the other night and it took us a minute to make the connection - hey don't i know you - hey what are you doing here, blah blah blah.

so, i cut, then she puts the cut card in (6D), she cuts off 5 cards, no $hit, 5 cards, she then looks at it, realizes how ridiculous what she did was then cuts off a more humble 0.3-0.4 decks for a glorious 95% pen. i had vowed not to tip that night, but that changed....

sadly said pen didn't materialize anything too magnificient and slow players attenuated this unique opportunity as I only got to play a few shoes..... to add insult to injury, this occurance conincides with me moving 100 miles away from where i am now in the next week.

sad but true. :cry:

/end pointless post.

A crowded 6D game is not really worth playing. The only way I would drive 100 miles for that game is if it was my only option, and/or I was bored, and I could isolate a certain shift (e.g. early morning) where the casino was not crowded.

I was amazed to find the Arogosy casino near Cinci stays crowded 24 hours per day on $5-$10 tables. What a racket! Caesar's near Lousiville is less crowded but the games offered aren't any better.

Whereabouts do you play? I play mostly in Vegas and Mississippi. Conditions are great throughout MS which may suprise some people.

 

[mdlbj]

Is that you J? Pm me..

 

[moo321]

A crowded 6 deck game with 95% pen is worth driving 100 miles for. You could probably win 4 units an hour on that with just a 1-8 spread, even if it's crowded.

 

[Knox]

A crowded 6 deck game with 95% pen is worth driving 100 miles for. You could probably win 4 units an hour on that with just a 1-8 spread, even if it's crowded.

Right, but we were talking about one dealer that gave the 95% penetration and how long do you think that would go on before the PB noticed? Also, there was no way to determine if the magic dealer would even be working that day.

If I had no choice I may play some 6D, but recognizing games to avoid is an important skill.

 

[Automatic Monkey]

Right, but we were talking about one dealer that gave the 95% penetration and how long do you think that would go on before the PB noticed? Also, there was no way to determine if the magic dealer would even be working that day.

If I had no choice I may play some 6D, but recognizing games to avoid is an important skill.

6D is not one of them. Aside from the SD games in Northern NV (high heat, low limits) some of the best games in the US are 6D. Playable DD is rare and getting rarer.

 

[Cardcounter]

Penetration varies greatly!

As a dealer I will vary my penetration so greatly that one time you might get excellent penetration from me say a 40 card cut of and other times I might cut off 120 cards it depends on how I'm feeling. I might cut off more cards if you just ask me. Have you ever asked the dealer to cut of as many cards as possible or as few cards as possible? I will give you good penetration if I feel that you are not counting down my deck. If I feel that you are counting down my deck than I will cut of more cards, but it will take me a shoe of cards to figure that out. So one the first shoe I might give you excellent penetration but then I might change it on the second change.

 

[MEDITANK]

Been hammering XNN making good bank on that one, HSOA is a good short but I cannot give out the reasons why, sold that POS in the low 6's. LBTH are AAPL, GOOG, CMNN(new CEO has really changed investor sentiment), interesting sector as domain names are the real estate of the 21st century. They own a boatload of great names. PHLI is an interesting one. TASR is making a comeback and is probably a wise buy and just hold onto that one for awhile. All of the BS lawsuits have been defeated and they just rolled out a new product line to complement their existing stungun.

Gotta love CMNN. Another 52 week hi today. Bought AOB late yesterday, another good short term pop to have right before earnings.:grin:

 

[jimbiggs]

As a dealer I will vary my penetration so greatly that one time you might get excellent penetration from me say a 40 card cut of and other times I might cut off 120 cards it depends on how I'm feeling. I might cut off more cards if you just ask me. Have you ever asked the dealer to cut of as many cards as possible or as few cards as possible? I will give you good penetration if I feel that you are not counting down my deck. If I feel that you are counting down my deck than I will cut of more cards, but it will take me a shoe of cards to figure that out. So one the first shoe I might give you excellent penetration but then I might change it on the second change.

I'm curious to find out why you would cut more cards off for counters. How does that benefit the dealer? I'm asking because I've had dealers using counter measures on me without any heat from the pit. How do they benefit from giving me a bad game? Are they just being pricks? Do they have some kind of moral obligation to protect the game? Would tipping change their attitude?

 

[moo321]

My guess is some of them want to move up the ranks, by being proactive and pointing out counters. But they're the stupid ones, because dealers usually make more than pit bosses.