How 'bout that stock market?

steveny said:
Awesome exit and entry. I sold my SKF way too soon only to buy my GS way too early.
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Thanks man... I'm not a big day-trader like lots of the people in here, but I was lucky enough to be keeping a close eye at the right time today. I saw your SKF/GS trade a couple days ago, but it's still not so bad - you made a huge profit on SKF (it's back down to $130 already anyway), and there's no reason for GS to be anywhere near this low. They freaking beat estimates and made a profit and they're down from high 150s last Friday to below 100, ferchrissake... all after various banks have been strongly rewarded for losing a few bucks less than the gigantic heap of money they were expected to lose. It'll be back up. This market is totally irrational.

Also been buying AUY for the past couple months (often at way too high of the price, I would later find out) and am glad to see gold finally taking off. Biggest % gain since 1980 yesterday and biggest $ gain ever! Up another $38 so far today. Thank God... frankly I have way too much riding on it right now.
 
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White98LS said:
Thanks man... I'm not a big day-trader like lots of the people in here, but I was lucky enough to be keeping a close eye at the right time today. I saw your SKF/GS trade a couple days ago, but it's still not so bad - you made a huge profit on SKF (it's back down to $130 already anyway), and there's no reason for GS to be anywhere near this low. They freaking beat estimates and made a profit and they're down from high 150s last Friday to below 100, ferchrissake... all after various banks have been strongly rewarded for losing a few bucks less than the gigantic heap of money they were expected to lose. It'll be back up. This market is totally irrational.

Also been buying AUY for the past couple months (often at way too high of the price, I would later find out) and am glad to see gold finally taking off. Biggest % gain since 1980 yesterday and biggest $ gain ever! Up another $38 so far today. Thank God... frankly I have way too much riding on it right now.
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I can't understand why FCX is not going up.

I did well on the SKF trade but I am getting pounded on the GS shares. I also have done 2 put spreads on GS sold the 110's bought the 105's and sold the 100's and bought the 95's. It's funny some of the options are trading in arbitrage territory. Some of the plays are guaranteed profit.
 
steveny said:
I did a little caculation on that aapl trade that you did. HAd you used a put spread the loss would have been 20% of what you said it was last time we talked on the phone.
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yes, the old steve-o put protection would have come in handy. like i said, though, some of these option strategies are over my head in terms of execution. sad thing you don't live in cincy. we've got plenty of slums here man, you can come clean house. :)
 
SilverStone05 said:
yes, the old steve-o put protection would have come in handy. like i said, though, some of these option strategies are over my head in terms of execution. sad thing you don't live in cincy. we've got plenty of slums here man, you can come clean house. :)
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What I was getting at is you could sell puts on appl if you feel the direction of aapl is up. Say aapl is at 125 and you sell the 125 strikes for 3.70 and you buy the 120's for 1.80 so you net 1.90 per share if aapl closes above 125 if appl falls you have a max loss of 5 dollars a share minus the 1.90 intake or 3.10 a share is the most you can lose.

I have been trading legs on GS all day today except for when I went to the dentist, which was less painful than the last few days in the market has been. I need GS to close tomorrow above 110 to rake in some decent cash.
 
steveny said:
Got to wait for the premium to get wiped out.

I can take 16k right now or wait for another 8k tomorrow.
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I'd advise taking green when you see it.
 
Thanks Jason.. everyone else. I received a response from schwab:

Dear Mr. Anderson:

Thank you for your inquiry regarding trading. I appreciate the opportunity to assist you.

In regards to your question about how many times per day you may trade. there is technically no limit on this number, however, there are additional factors to consider. Please see the paragraph below for a breakdown of the possible restrictions that may occur. Additionally, I have included a link regarding our commission schedule, and this includes a description of what trading levels received reduced rates.
Regarding trading, when Schwab accepts trade orders without sufficient settled funds or securities already on deposit, federal securities regulations require that we monitor accounts for compliance with two conditions:

1. That clients promptly make full cash payment of settled funds or delivery of previously owned securities into the account within the payment period; and

2. That clients do not sell the securities purchased until full payment of settled funds has been made.

If your account has sufficient settled funds, there are no restrictions as to what may be purchased. If a security is purchased using settled funds, there are no restrictions as to when the newly purchased security can be sold. A problem arises, however, when you use unsettled funds to purchase a security, then sell that security prior to settlement

The last 2 are straight forward. I guess once you up your trading volume they freeze your account until there are sufficient funds (25k)... ?

EVERYTHING IS GREEN :eek:
 
Remember this day.. when tbills are going for 0%, when gold goes up 80% the highest in history, when the russian stock market collapses, when every newspaper has floor traders crying on the front page, when even your deaf blind neighbor 'quiet karl' is talking about the stock market and how screwed we are... buy buy buy.

I had my all time best trading day today. I traded well over 100 tickers and after lunch I managed a 94% win ratio. I rode more rocket ships [when the stock is just going straight up on the 1min/3min chart] today then I had all of this week combined. I pulled 1-2 full points on 3 different gold stocks in the last 20 mins of trading before people finally starting covering. I had my biggest gain of the day on MS on a 2 second scalp with a lot of shares for almost a point and a half. Better to be lucky then good.
 
nsxsupra said:
I would had an heart attack if I had STT in my profolio, down $30+ just 30 minutes ago and since bounced back and did a nice recovery.

Bought:
Ebay at $21.78
INTC at $18.08
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I traded that monster a couple times throughout the day. Nerves of steel go both ways. I didn't get in on the downside, but on the way up it looked like this-

P/L $: -3(filled), 44, 160, 195, 240, (cover). 5 ticks. I think I actually got it for almost +$300 when it filled. It was even faster on the downside, there was one point where it moved a point a tick for almost 3 ticks.
 
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sahtt said:
Remember this day.. when tbills are going for 0%, when gold goes up 80% the highest in history, when the russian stock market collapses, when every newspaper has floor traders crying on the front page, when even your deaf blind neighbor 'quiet karl' is talking about the stock market and how screwed we are... buy buy buy.

I.
Click to expand...

Haha. To true. I just took my accord for an alignment and I went to pay with my WAMU credit card and he joked about whether it was still good. I pulled out my Wells card to show him it was ok.. :wink:
 
I am still bearish on this whole thing. The only reason it's going up is because you can not sort, I think that's bullshit and you remember what happened last time they did this? After it was lifted we ended up right here, lets just keep stepping down after each lift on shorting is expired.
 
lock limit up in the futures market!

apparently the asian FX session almost ground to a halt yesterday due to a perceived lack of US$ in the markets... crazy!

And personally i think this new SEC rule they implemented today is BULLSHIT!!! :mad:
 
steveny said:
trend players make money, contrarians make wealth.

Now today.... I will buy SKF and wait.
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You gotta be aware of the time frame you're trading in. When the weekly gets over-extended in its trend, it sets up a tradeable countertrend move on the daily. When the daily gets overextended, it sets up a tradeable ct move in the hourly/30 min. When the hourly/30min get overextended, it sets up a ct trade on the 5 min. Daytraders make a big mistake trying to catch countertrade moves by referring only to the very short term (5,2,or 1 min) charts. That's gambling. You can trade with the trend by looking only at the 5 min, entering on every pullback, but if you want to catch the countertrend moves, you gotta know where you are on the bigger charts.

I know this is too gump for most of ya but it's just that easy. There are many hereabouts who either do not know how to recognize a trend, or refuse to recognize a trend but most folks would rather have other folks think they are smart than to make $$$. Trading with the trend doesn't challenge them sufficiently, so they do something else. Of course they lose.
 
Nice spreads on the finacial options a holes. :rolleyes::biggrin:

I bought calls when we were down on
BAC
C
MBI
ABK and all of them have at least a one dollar spread. All of them I could pull at least a 100% profit on if there were a dime spread.
 
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steveny said:
Nice spreads on the finacial options a holes. :rolleyes::biggrin:

I bought calls on
BAC
C
MBI
ABK and all of them have at least a one dollar spread. All of them I could pull at least a 100% profit on if there were a dime spread.
Click to expand...

Bet you didn't buy puts! :rolleyes: Oh wait... you can't do that can you. Thats right... I forgot... free markets are fro p***ies, real men trade gov't manipulated ones!

Aren't you a bit peev'ed you can't even hedge risk on any of your positions? I've been hearing that the options spreads are completly janked today due to all of this. Whats your take? Still tradeable?
 
steveny said:
trend players make money, contrarians make wealth.

Now today.... I will buy SKF and wait.
Click to expand...
Jeez man... GS at 131, SKF at 93... should I switch sides again, opposite of yesterday? By my calculation, I have 127% more $$ by doing that swap yesterday than if I had held onto SKF:eek::biggrin:
 
da3dalus said:
Bet you didn't buy puts! :rolleyes: Oh wait... you can't do that can you. Thats right... I forgot... free markets are fro p***ies, real men trade gov't manipulated ones!

Aren't you a bit peev'ed you can't even hedge risk on any of your positions? I've been hearing that the options spreads are completly janked today due to all of this. Whats your take? Still tradeable?
Click to expand...

This is what I was waiting for. You didn't think the government would step in?

When most people were being a gump and following the heard I was placing money in the opposite direction. I am up huge today and all of the money I was down is now come back around as I didn't sell GS when it fell into a pit, instead I bought.

I am still down a bit for the year but when I sell call spreads when everyone is playing the trend and it just seems like the market can't stop going up I should be in the green for the year. I got caught by surprise the first sell off and I didn't react soon enough. Also AIG going from 18 to 2 didn't help me much either.

Thank god for rich people welfare. Finally the wealthy get to benefit from a little government assistance.

BTW I never buy put protection.

I guess life is kinda like a bowl of chocolates after all.
 

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