How 'bout that stock market?

SilverStone05 said:
AAPL Down 22 bucks AH :eek: on weak forecast.
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I built 20% of my position at 14X this morning at the opening and will build another 20% if I can get some in the 130's. I went 90% short about 3 months ago. Last time I checked the stock was at 200 not long ago and people are still buying mach's by the truck load.
 
Asia up, up, up...Europe down. Futures down.
 
Put in 5 buy orders this morning....only one executed. :cool:

Markets have made a good recovery from their lows right after the bell.

Let the volatility continue. :biggrin:
 
Sig said:
What's the catalyst?
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Been long on this stock for over 3 years and I play the volatility with calls. It's a breakout stock given enough time. Short term, big dips like this have been easy money. The technology is just starting to hit the market, Samsung is getting very good yields using their OLED technology. Sony is already using it and it's ripe now. :) I picked up a conservative position to make some easy money and will get more aggressive if it continues to drop. Bottom line is given the conditions, it should not have dropped to this point. Don't take my word for it if you want to play it safe, I'll update again when I'm green.
 
I will say that PANL is sitting on the absolute bottom of support. If its gonna bounce its gotta hold right here, right now and should work higher. That being said, i'm not in love with it, but technically speaking it looks to be respecting its current levels. If it does however break the 14.82 area... watch out and pull off the calls.
 
What George Soros is saying:

http://www.ft.com/cms/s/0/24f73610-c91e-11dc-9807-000077b07658.html


Despite people saying he is "talking his portfolio" he has been arguing the same general concept for quite a while.

A more frightening and "close to home" example:
Wachovia has, as of Friday, effectively gotten out of the lending business. No new business loans. To anyone. Period. Nada. I know this first hand, unfortunately.

This IS the real deal. :eek: :frown:
 
Wachovia's profits were down 98%, BOA down 95%.
 
MAJOR STONER said:
Wachovia's profits were down 98%, BOA down 95%.
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I would add, for dramatic effect I guess, that Wachovia's decision was *very sudden* -- as in, we were that very day signing term sheets on a simple revolving credit facility, when our relationship manager phones us apologetically saying "sorry guys, no can do. the door is closed right now"
 
Am I the only one who finds it hilarious that our lenders got the whole world into this mess?

I've bought two houses since 2004, and both times they pressured me hard to get into some sort of crazy interest only loan with ARM's etc etc.

I mean honestly, they only have themselves to blame. When have Americans EVER been good with money...give us an inch and we'll take a mile.

I'm sitting on my 2nd 30yr fixed hoping I'm safe from all this BS now. (hind site of course, I would have been better off on an interest only loan on the first house...but I didn't know I'd be selling it so quick. Now we're looking to move again to a better location, good thing we don't HAVE to move)
 
This whole thing stinks of the Saving's and Loan fiasco, when more than 1,000 savings and loan institutions (S&Ls) failed in "the largest and costliest venture in public misfeasance, malfeasance and larceny of all time."
 
seems like an awful lot of frothiness going on and for those concerned about hanging on to their cash (like me) it seems a pretty good time to sit out the market for awhile.

seems to me that a lot of consumers and ceo's / execs will start tightening their belts wrt non-essential toys & corporate spending waiting for the other sets of bad-new shoes to drop... and in the process, lowering the asking price for buying our next (retirement) home.
 
queenlives said:
seems to me that a lot of consumers and ceo's / execs will start tightening their belts wrt non-essential toys & corporate spending waiting for the other sets of bad-new shoes to drop... and in the process, lowering the asking price for buying our next (retirement) home.
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I think that sounds like a great plan, Hal. :smile:
 
queenlives said:
seems like an awful lot of frothiness going on and for those concerned about hanging on to their cash (like me) it seems a pretty good time to sit out the market for awhile.

seems to me that a lot of consumers and ceo's / execs will start tightening their belts wrt non-essential toys & corporate spending waiting for the other sets of bad-new shoes to drop... and in the process, lowering the asking price for buying our next (retirement) home.
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At this point even if the economy doesn't fall back it will have too just because everyone is expecting it too. Just the cash hording alone is going to cause it to happen.
 
What's everyone playing today? I am trying to get some Leaps on OXM and BRCD but they aren't adjusting the bid ask. ERRR. I was able to pick up some XOM earlier and have sold it but only made a couple of k. I wish I could get another day like tuesday again
 
steveny said:
What's everyone playing today? I am trying to get some Leaps on OXM and BRCD but they aren't adjusting the bid ask. ERRR. I was able to pick up some XOM earlier and have sold it but only made a couple of k. I wish I could get another day like tuesday again
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I'm not all into the options like you but I've been playing KGC, BX, and NLY on long and short positions.

Big intraday swings, its easy to catch a point then reverse your position.

Light trading today....ugh.
 
steveny said:
Just the cash hording alone is going to cause it to happen.
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Which is the number one downfall of the hordes. Classic mistake. People buy buy buy when the market is peaking and has no where to go but down.
Then when the market starts tanking, they start selling out. It's crazy to me.

THE POINT IS TO BUY LOW AND SELL HIGH!!

When market pull backs like this take place, it's when you should be buying, not hording all your cash. Tuesday morning I had at least 10 buy orders in waiting for the bell. I caught a few of em and they paid well. If I wasn't so damn cheap, I would have gotten 10 executions. :biggrin:

As for the long term, there are some fat dividend paying cash cows that can be had for next to nothing out there.
 
SilverStone05 said:
Which is the number one downfall of the hordes. Classic mistake. People buy buy buy when the market is peaking and has no where to go but down.
Then when the market starts tanking, they start selling out. It's crazy to me.

THE POINT IS TO BUY LOW AND SELL HIGH!!

When market pull backs like this take place, it's when you should be buying, not hording all your cash. Tuesday morning I had at least 10 buy orders in waiting for the bell. I caught a few of em and they paid well. If I wasn't so damn cheap, I would have gotten 10 executions. :biggrin:

As for the long term, there are some fat dividend paying cash cows that can be had for next to nothing out there.
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I did the cheap ass thing this morning too on some options and tried to play inside the spread but forgot to check AON and got stuck with 1 contract out of 30. I hope the rest of the order goes through today or I get stuck with the whole cost of the trade wraped up in one contract.
 
steveny said:
I did the cheap ass thing this morning too on some options and tried to play inside the spread but forgot to check AON and got stuck with 1 contract out of 30. I hope the rest of the order goes through today or I get stuck with the whole cost of the trade wraped up in one contract.
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Talk about cheap.....LOL!

What is it $5 per contract?

But I feel ya on the partial fills. They get annoying, especially in thinly traded issues.
 

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