How 'bout that stock market?

Killing the USD/JPY tonight simply using trend lines and a few moving averages. Up 45 points in about 2.5 hrs.

<a href="http://imageshack.us"><img src="http://img409.imageshack.us/img409/2463/trendonlyob4.png" border="0" alt="Image Hosted by ImageShack.us"/></a><br/><a href="http://g.imageshack.us/g.php?h=409&i=trendonlyob4.png"><img src="http://img409.imageshack.us/img409/2463/trendonlyob4.3c44443097.jpg" border="0"></a>

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WTF, FITB has dropped like 50% in a week. Unbelievable!! It must be a SUPER DEAL now!!! I should buy MORE!!!!!!! Dollar cost averaging and all that......... Ugh.......
 
Be glad you only have a few grand in it. Just curious, what was your basis for purchasing?
 
SilverStone05 said:
Be glad you only have a few grand in it. Just curious, what was your basis for purchasing?
Click to expand...

Do you have any left? I have 2,000 at 15.22.

I tell you what when this markets gets run back up it won't matter how bad the mortgage situation is these banks will have profits purely on trading.

Down 10k+ on my fitb

down 60k+ on LEH
 
fitb.jpg


:biggrin:
 
SilverStone05;1017111 :biggrin:[/QUOTE said:
You going to buy some down here or you think it's done because of the div cut. The market has been bad for a while now but the good news is it can't sell off for ever.
Click to expand...
 
I doubt it will go much lower from here. But the regionals that have already slashed their divvies and raised capital (FITB, NCC, etc etc) are dead money for some time. They will rebound but I think we'll be waiting a long time. Therefore, I'm not buying any.

XLF is the better bet if you want a taste of the bottom end of the financials. C & GS are two of the top holdings. :)

Ha...my mortgage/heloc/primary checking/visa are all through 5/3.
 
I was in a hurry to show how brilliant i was selling FITB. :) Either way, optical illusion. Fixed.
 
Shall I post a link to my comments in the wamu/bank failures thread? :eek: :wink:

Steve let me know if you're selling the F360...I'm a buyer after the last few weeks of being short certain regional banks.

They'll go a lot further fellas. All of 'em. The i-banks are anybody's guess though. Why? Because there are comps now of certain larger regionals (Colonial Bank for example) that have gone from 30 to 20 to 10 to 5 to 3.5. In other words, in the minds of institutions, FITB or others "can" sell all the way down. The floor is near-zero.
 
Alright gents... today was a day categorized by "big grids" that as per yesterdays rules i'm not allowed to touch. At least not until i grow my account and can man up and take them. They were however printing money like you wouldn't believe today... over 500/per on two swing trades today alone. In fact one would still be on short and banking money as we speak. But thats not what i'm here to discuss.

My trades today were 110% perfect. Executed perfectly, managed perfectly, and i'm very happy with the outcome. 130/per. Not much, but it gets a bit back from yesterdays debacle and puts me back in the + for the week.

29w1nx5.jpg


Cheers!
 
Ski_Banker said:
Shall I post a link to my comments in the wamu/bank failures thread? :eek: :wink:

Steve let me know if you're selling the F360...I'm a buyer after the last few weeks of being short certain regional banks.

They'll go a lot further fellas. All of 'em. The i-banks are anybody's guess though. Why? Because there are comps now of certain larger regionals (Colonial Bank for example) that have gone from 30 to 20 to 10 to 5 to 3.5. In other words, in the minds of institutions, FITB or others "can" sell all the way down. The floor is near-zero.
Click to expand...

your so smart,
vinegar and water runs through your veins?:biggrin:
 
SilverStone05 said:
I was in a hurry to show how brilliant i was selling FITB. :) Either way, optical illusion. Fixed.
Click to expand...

FITB hasn't traded this low since January 1995. It's as if the bull run now never occurred for this stock. Record volume today.

Note: I've never traded FITB; just watching the disaster unfold on Level II. Sheesh...
 
Yellow NSX said:
FITB hasn't traded this low since January 1995. It's as if the bull run now never occurred for this stock. Record volume today.

Note: I've never traded FITB; just watching the disaster unfold on Level II. Sheesh...
Click to expand...

yeah probably dead money for a while. I don't think it is going to fail though. Great material for the talking heads though.
 
Short EUR/USD 1.5532 15 SL. Looking for 30-40 points on this one.
 
Its been a rollercoaster lately.

My current 401K portfolio...

AAPL
ATVI
HAL
JEC
MPEL
RIMM
TRMB

The rest I have in an Emerging Market Mutual Fund

MPEL has been losing ever since their last earnings report. :frown:

First Quarter I really got hurt on CROX and GRMN. These two stinkers helped me learn why never to buy on the way down.
 
Last edited:
Sure... MI and FITB are on an express elevator to Hades..... Where's everyone that wants to buy it up at the bottom?!?

My $3000 is now $1964. )(&@$#()*^&@()*$^!~!!!!!
 
Regional banks look to have found some support. Look for more positive action in Chinese oil firms that are forced to subsidize fuel prices as prices are allowed to rise in China-their profits will correlate proportionally.
 

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