How 'bout that stock market?

Is anyone having any luck getting orders filled inside the bid ask? I can not get any orders filled and the spreads are crazy!!!
 
http://biz.yahoo.com/ap/080127/france_bank_fraud.html


IDIOT....


Bouton said Kerviel had been betting throughout 2007 that markets would fall -- a winning position. But the trader had overstepped his authority and was wagering much more money than he should have, Bouton said.

So at the beginning of January, Bouton said, the trader voluntarily created losing positions, to neutralize his earlier gains and cover his tracks.
 
I am done for today. I managed to pull almost a full buck a share on XOM.
I was going to be on the Mad Money lightning round last night but they had technical difficulties and left me on hold for an hour and a half. HAs anyone ever called in on that show? The disclaimer is really long. LOL
 
Good day today. Pulled AAPL for another couple in and out rounds. Man I love the way that stock trades.

Wonder what the small rate cut is going to do to the street tomorrow? I got out of all my interest rate sensitive equities today. Street wants .5 and gets
.25, might be ugly. Street wants .5 and gets .5....might be ugly. Can't imagine nothing....oh boy. :wink:

Never been on Cramer before but if I was you guys would get the quintessential stuttering BooYah.
 
SilverStone05 said:
Good day today. Pulled AAPL for another couple in and out rounds. Man I love the way that stock trades.

Wonder what the small rate cut is going to do to the street tomorrow? I got out of all my interest rate sensitive equities today. Street wants .5 and gets
.25, might be ugly. Street wants .5 and gets .5....might be ugly. Can't imagine nothing....oh boy. :wink:

Never been on Cramer before but if I was you guys would get the quintessential stuttering BooYah.
Click to expand...

I am waiting until the rate is out tomorrow before I trade a freaking dime. If I see a huge pull back I will go from day trader to buy and hold and wait a bit. Some stuff looks cheap right now and if it gets much cheaper it will be a give away price.
 
If the volatility is there...i'll be buying and selling all day.
 
I have been wanting to buy BIDU but I am not really sure where the bottom is. I bought it a long time ago at $292 and rode it to $380 and jumped off. I almost bought again, but was glad I didnt.

I have a lot of MPEL that I bought at $8.50 and it seems to be going up again. I rode it in the past from $13 to $18.

I bought AAPL at $120 last year and sold it at $199 over the holidays. I recently bought again at $136 after a big correction, but bought too soon. It went as low as $126 or so. I think it will run back up soon. The guidance wan't that terrible. Too many panic sellers out there.

It is such a volitile market these days...everyone is day trading and taking profits as soon as they make a couple of %. I think it makes it tougher on us longer term investors.

Good Luck Everyone...Hope tomorrow is another GREEN DAY!
 
steveny said:
X 5 days a week adds up to some real money.
Click to expand...

I won't argue with that. If I thought I could do that I just might. I know just enough to be dangerous.
 
Because this economic event is just beginning. I really don't see any way that this can play out with "just a recession." It's September, 1929, and our banks are unofficially insolvent. It will become much more official in the coming weeks as the Big 4 auditors battle with bank management over issuing going concern opinions for annual reports. After Enron/Andersen, those accounting firm partners aren't taking any chances with misleading audits.
 
Big_D said:
It is such a volitile market these days...everyone is day trading and taking profits as soon as they make a couple of %. I think it makes it tougher on us longer term investors.
Click to expand...

Traders are good. They offer liquidity and help to ensure an efficient market.
Traders can make the swings that allow you to take a profit as well as create the down selling pressure that kills ya.
 
Thats true, I just wish (like everyone else) I knew when the right time to buy and sell is...my timing this year isn't so good.

I had GRMN and rode it down 40% and finally got disgusted and sold it...it ended up being at the low that day and a few days afterwards it was upgraded by some analysts and went back up...I should have rode it out, but was leary. Its probably a decent buy right now.
 
Big_D said:
Thats true, I just wish (like everyone else) I knew when the right time to buy and sell is...my timing this year isn't so good.

I had GRMN and rode it down 40% and finally got disgusted and sold it...it ended up being at the low that day and a few days afterwards it was upgraded by some analysts and went back up...I should have rode it out, but was leary. Its probably a decent buy right now.
Click to expand...

With huge blocks you don't need a big move to make a decent gain. 5 cents per share, 1000 shares is 50 bucks, 10k is 500 bucks, 20 times in and out of the market is 10 thousand bucks. It doesn't work in the market all the time but it is working right now in the current market. After it levels out I won't trade the market again until it's back in it's current condition.

There is a lot of money flowing through the market right now and IMO is the only thing holding it together is the traders. It's another game of hot potato because a huge down day is coming.

BTW. I saw big blocks of BIDU trading today. I sure would like to know who is throwing around that kind of loot.
 
I suppose I could do big blocks of penny stock. :frown:

I think its great that folks can make it with the market full time. I am still performing the ancient trade of my time for money. I sure could use some residual income. I should write a book or something instead of being a post whore on prime.:wink:

I noticed that BIDU was trading large. 64% of the shares are owned by institutions/ mutual funds. They have some serious buying power.
 
steveny said:
With huge blocks you don't need a big move to make a decent gain. 5 cents per share, 1000 shares is 50 bucks, 10k is 500 bucks, 20 times in and out of the market is 10 thousand bucks. It doesn't work in the market all the time but it is working right now in the current market. After it levels out I won't trade the market again until it's back in it's current condition.

There is a lot of money flowing through the market right now and IMO is the only thing holding it together is the traders. It's another game of hot potato because a huge down day is coming.

BTW. I saw big blocks of BIDU trading today. I sure would like to know who is throwing around that kind of loot.
Click to expand...

Indeed. And with stocks that have larger spreads or high volume, its easy to capture 20 cents on 5,000 shares within seconds. Easy grand. Of course the tax bill on these short term gains is horrendous.

So I just checked out the trading on BIDU. MAN! .50 spreads between the bid/ask. Usually naz issues have tighter spreads, especially with the volume BIDU gets. Time for some arbitrage. :biggrin:
 
Big_D said:
I suppose I could do big blocks of penny stock. :frown:

I think its great that folks can make it with the market full time. I am still performing the ancient trade of my time for money. I sure could use some residual income. I should write a book or something instead of being a post whore on prime.:wink:

I noticed that BIDU was trading large. 64% of the shares are owned by institutions/ mutual funds. They have some serious buying power.
Click to expand...

Ha....you can make it some of the time...but not all of the time. That's the first thing you have to recognize to stay successful.

Discipline, too. Have a plan and ALWAYS stick to it. That's how you'll minimize your losses. Control your downside. My problem used to be that I sold my winners too early and hung onto my losers too long.

When I have extraordinary days, I'll shut things down early just because i'm superstitious.

A good start....buy large, solid dividend paying companies. Buy on 3-4% pullbacks. Snap up 1000 shares and sell when it bounces back. Be patient. If you don't see anything worth buying...don't buy. Cash is king, and if you've got it, don't throw it at a trade you are iffy about.

Do yourself a favor and stay away from penny stocks.

Good luck.
 

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