How 'bout that stock market?
- Thread starter Ski_Banker
- Start date
The market has been pissing me off today, which is rare. I got up nice by about 10am and lost it all in one trade. I held onto 1200 shares and made money on those but I dumped a multiple of that to put the low of the day in. I was short in another big position and lost 11.5 cents on a bad fill that was mostly my fault. Back down to flat again. Argh.
I had a self inflicted wound today too. I went long FAZ at 19.56 and had the order set to double up if it dipped below the low. at 19.29 my order went off and promptly sold what I had instead of doubling up. 19.29 was the day low too and then the thing shot up to 20. after that, damn it. I was using an account I don't use that often and I have not "stagged" the account. Market AGAIN feels to me like it may be topping out.
Edit, long FAZ at 20.33
I have continued my buy on dips strategy. Been long, have not sold anything recently.
today however was a bad day for me, my portfolio is VERY heavy in WFC and FDX.
What are you gonna do lol.
today however was a bad day for me, my portfolio is VERY heavy in WFC and FDX.
What are you gonna do lol.
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Yummy. You just gave me an idea for the weekend...SURF & TURF after options expiration :biggrin:
hmm, I guess I posted the wrong link
how about this
WFC will probably see 26.xx before it sees 31.xx.
I would not be holding ANY bank stock right now, options only.
I'm long on an intraday basis a large amount of bank prefered but the buyers are getting nervous. The market gets toppy when all the big market orders are to the downside as there are enough offers to soak up any to the upside. When large market order buys are peircing most of the offers on NYSE lvl 2 it's the other way around.
I'm flat for today but I'm big in 3 positions and medium in 4 others. If they all go up ten cents I'll make a grand.
I am long the following bank stocks:
WFC (a lot!)
GS
JPM
BAC
I am not selling any of them anytime soon. I would probably lighten up on WFC at $30 only because I have some options that come into the money then,
BAC I will sell all eventually, have not figured out when yet,
GS I will never sell,
JPM I will never sell.
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sounds like you are short. good luck. probably right, and if WFC hits $26, know that I am beginning buying more. I am simply not selling right now.
don't let the euphoria wipe out your profits. if you are in GS under 125 I wouldn't sell it either.
$165 is where i own it.
I did sell a lot of 100 shares of HES today in the mid $55's. I had bought some at a high price, wanted to get out of it at a small gain, not for the gain, but to sell at no loss so I wouldnt trigger the wash sale.
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Nope I'm not short. In fact, I'm long a few thousand WFC-J and was long a lot more. I'm long a $hit ton of BML-Q (BAC) but lightened up a lot before the close today and yesterday. In my personal account I'm long a lot of LINE (mentioned that a lot when it was at 11-12, now it's at 23ish), a couple other nat gas plays I've had since last year, some lower beta oil, AAPL, and a couple other techs. I haven't shorted anything really big in a long, long time.
I learned a long time ago that I don't have the skills yet to call tops and bottoms on daily/weekly charts.
I wouldn't put too much in long positions right now. Market buyer strength is getting weaker while the index is creeping up too slowly. I've pulled out my longs on Thursday so I'm 80% cash right now as of Friday (9/21).
Good luck everyone.
Does anyone here use IBD or AAII?
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I like above comment a lot, the very same appllies to myself. This is coming from a guy who once sold a boat load shares of TCK at $2.60 due to market uncertainty at the time. It is now trading at $27+, lol. I had enough shares to change my life had I held it.
Since then, I always remind myself:
"Always keep glass half full". Long or short
Learned very recently, sadly a bit late, but better late than never:
"Take my ego, smash it on the ground and step on it. I end up making a lot more money and a lot happier"
"I am enthusiast about helping others, but I don't win a trophy, if one doesn't appreciate my time, no need to waste my time ever again"
"I have far more important things that I should be spending my time on than arguing"
NSXSUPRA's original and one of kind signature quote:
"Making money on a market down day is like getting paid to have sex with a hot chick"
I took profit last week + usual lunch money generating quick trades. Some are badly pre-mature. However, only a fool complain about profit. This represent September 17th, all my trading were pretty decent last week with exception of Friday, barely made enough for dinner.
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I like above comment a lot, the very same appllies to myself. This is coming from a guy who once sold a boat load shares of TCK at $2.60 due to market uncertainty at the time. It is now trading at $27+, lol. I had enough shares to change my life had I held it.
Since then, I always remind myself:
"Always keep glass half full". Long or short
Learned very recently, sadly a bit late, but better late than never:
"Take my ego, smash it on the ground and step on it. I end up making a lot more money and a lot happier"
"I am enthusiast about helping others, but I don't win a trophy, if one doesn't appreciate my time, no need to waste my time ever again"
"I have far more important things that I should be spending my time on than arguing"
NSXSUPRA's original and one of kind signature quote:
"Making money on a market down day is like getting paid to have sex with a hot chick"
I took profit last week + usual lunch money generating quick trades. Some are badly pre-mature. However, only a fool complain about profit. This represent September 17th, all my trading were pretty decent last week with exception of Friday, barely made enough for dinner.
Very nice. That's all it takes is chipping away and before you know it BOOM, your account is 100x what you started with.
Looking at my positions at work I have 8 longs and 1 short. I went ahead and got out on the opening print on a couple longs this morning. I put the top in JPM-J (JPM-PJ) just before the open. Got filled on half my position 70 cents in the money thanks to some goof ball home gamer buying before the open through an ECN.
E a s y money in MS today. First time above 32 in a long, long time. Buy the open and hold it and pick out which sports car you want to buy.
Opinion on tomorrow for MS?
Do you still like FAZ?
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