Nice job, lol you sure are lucky :biggrin: I say fuck AIG we should NOT have to bail out that POS company.
How 'bout that stock market?
- Thread starter Ski_Banker
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Nice job, lol you sure are lucky :biggrin: I say fuck AIG we should NOT have to bail out that POS company.
it's all luck in this market. At least it's not as bad a Vegas where you know you will lose everytime.
I don't think anyone should have to bail out anybody but I also feel there is no need for a bailout. Just let it run it's course.
Steve when I read that news about "AIG" I was thinking I sure as shit hope Steve gets out when it pops and you did. Pro move man! I love it.
Oh I traded it this morning in a seperate account. I still have 2400 shares with a CB of 18. I will ride that into the ground or back up. It's only worth 6500 bucks at this point and I will be more angry at myself if I sell it and it goes back up. If it goes to zero oh well. If it goes back to 50 in 5 years then I will be PISSED. I would rather not have the money because it goes to zero than to be pissed that I sold it and it went back up. I made about 3/4 of the loss up on my trade this morning but I can not access the money until I retire.
Good call, nothing pisses me off more then closing something out that would have made money if I had waited. Also nice job man I love seeing people get excited about the market
Good call, nothing pisses me off more then closing something out that would have made money if I had waited. Also nice job man I love seeing people get excited about the market
I do it for the excitement not the money. :biggrin:
haha, at least you are not some broke dick trying to make millions like 99% of the retards in the market :biggrin: Also get long man!
I am trying to lose millions.
Doing a pretty good job so far. My time horizon on my long positions is a lot longer than my trading account positions. I am looking to create collateral I can use to borrow against. If something like C or BAC goes back to 50 and I have 10,000 shares I would much rather use it a leverage than to sell the position and pay the cap gains.
If I have 500k in C in 5 years and can borrow against that 500k which really only represents 150k of my money.... then I have 350k it in collateral that I can use to purchase more RE for basically free. or better yet spread the 350k across many different properties.
thank god my cars aren't insured by AIG if you know what i mean.... :smile:
Sadly though i saw LEH was all the way up to .22 when i sold yesterday at .18!! Ouch that hurts!!! Anyways anyone hear from shiftybob lately? i sent him a PM in regards to how to cope with getting your nsx stolen... but he hasnt replied.....
Sadly though i saw LEH was all the way up to .22 when i sold yesterday at .18!! Ouch that hurts!!! Anyways anyone hear from shiftybob lately? i sent him a PM in regards to how to cope with getting your nsx stolen... but he hasnt replied.....
I am trying to lose millions.
My time horizon on my long positions is a lot longer than my trading account positions. I am looking to create collateral I can use to borrow against. If something like C or BAC goes back to 50 and I have 10,000 shares I would much rather use it a leverage than to sell the position and pay the cap gains.
If I have 500k in C in 5 years and can borrow against that 500k which really only represents 150k of my money.... then I have 350k it in collateral that I can use to purchase more RE for basically free. or better yet spread the 350k across many different properties.
That's a pretty good idea. I trade so quick I really never though about borrowing against it but that is a good idea if you do long term stuff. As I tell my brother "Put 100k in ever 500 the dow sells off" if it hit 4,000 we will have more problems then money lol
That's a pretty good idea. I trade so quick I really never though about borrowing against it but that is a good idea if you do long term stuff. As I tell my brother "Put 100k in ever 500 the dow sells off" if it hit 4,000 we will have more problems then money lol
That's where I am at. If AIG fails we might as well throw in the towel. Stack your money up as high as you want in cash. It won't be worth a damn thing if the market fails. Might as well go all or nothing because if it isn't all it's going to be nothing.
I am more worried about another world war than I am worried about the market. If the market is strained to 1/2 what it is right now there will be civil unrest and a possible world war. That is way more scary than losing some paper with ink on it.
Edit, Especially when a great percentage of people in this country are more concerned with what they can get, take, steal from the country then they are concerned with preserving it. A bunch of selfish entitlement minded people. The current situation we are in was created strictly from greed and selfish appraiser, lenders, RE agents,...
I sure hoped they banked some of the money they stole because they are going to need it now and far into the future.
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So did you get long as I posted :biggrin: Remember last time I called the fed days lol. I will say I can call the dow pretty damn good I just hate stocks haha.
:smile:
I knew this would happen today! Like dealdus/ryan have been saying, I wanted to buy BAC and WFC heavy early today and then take profits before close. Instead because I was tied up in meetings all day at work, I missed out on some good money.
I repeat my earlier post with a further caution, now you're involving another person who did not arrange to have his car stolen, in your fraud, please cease!
You guys see CEG today? That specialist was $hitting his pants for 2 solid hours. I'm a fan of wild markets but today was too much. I got screwed on a big market order after the fed announcement and by the time I got out of the trade my day's progress was wiped clean. The damn quotes were stuck and I got taken to school on that one. I ended up just trading PEP under that 73 range for the rest of the day and compared to the rest of the market it was like being in a spa getting a massage. Complete chaos, I was seeing slow quotes all day.
Why trade at fed time? That's just kinda dumb. Also if you have slow quotes that is easy to fix, Use CQG or Tradestation in the past 8 years I never had a problem.
It's the firm's software. You can't avoid specialist slow quotes sometimes. Trading a fed move isn't "dumb" if your risk vs reward is there, your style and mine are obviously different. I am usually fairly conservative and I didn't really trade during the fed move, I played the rebound. I had 20 cents/share on GG but got a bad fill and bailed prematurely. No big deal, always tomorrow.
:smile:
I knew this would happen today! Like dealdus/ryan have been saying, I wanted to buy BAC and WFC heavy early today and then take profits before close. Instead because I was tied up in meetings all day at work, I missed out on some good money.
one of the many reasons I don't have a job. A job always gets in the way of making money.
Question for you guys...
I'm currently using Schwab to trade (averaging only 1 trade per week) and there fee's are 12.95 under 1,000 shares.
I'm looking to average around 3-5 trades per day and I have the feeling there are better/cheaper trading platforms/brokers out there for 10-20 per week.
Also I thought I remember reading on the Schwab site a while back that x amount of trades qualified you as a "day trader" and your account fee's increased. I can't seem to find the info now that I need it.
Better options out there for 3-5 on average per day? And what typically constitutes "day trading", hence higher fee's.
I'm currently using Schwab to trade (averaging only 1 trade per week) and there fee's are 12.95 under 1,000 shares.
I'm looking to average around 3-5 trades per day and I have the feeling there are better/cheaper trading platforms/brokers out there for 10-20 per week.
Also I thought I remember reading on the Schwab site a while back that x amount of trades qualified you as a "day trader" and your account fee's increased. I can't seem to find the info now that I need it.
Better options out there for 3-5 on average per day? And what typically constitutes "day trading", hence higher fee's.
that will get you with the daytrading rules I think if you buy and sell 3 in a week. I have not traded a stock in 6 years but that's How it was from what I remember. Also you need 25k in the account if you are going to trade a few times a day. Also I like Interactive Brokers but I only used them for my trades not data on charts and such.
Steve you need a good kick in the nuts lol. I said it was going to sell off, you see in the news how the banks / brokers are stinking up the place and you go in and buy more of that shit lol.
I don't think it would matter what I had in my account today. It's all down at this point. Off by 390k today. OUCH.
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