Last trade for me was on Sunday, not screwing with this news crap.
How 'bout that stock market?
- Thread starter Ski_Banker
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nonsense steve... there are tons of new habits you could pick up to replace glue.
What about gnawing on your fingernails? And if that doesn't work, maybe your toenails too?
And who can pass up taking a whiff of the clorox while they do their laundry? Or possibly just try to sniff some wasp killer or spray paint fumes...
I think when you're honest about it, you can find many things to replace your glue sniffing habits and I wish you the best of luck with it!
That being said... were you positioning for a bounce this week?
What about gnawing on your fingernails? And if that doesn't work, maybe your toenails too?
And who can pass up taking a whiff of the clorox while they do their laundry? Or possibly just try to sniff some wasp killer or spray paint fumes...
I think when you're honest about it, you can find many things to replace your glue sniffing habits and I wish you the best of luck with it!
That being said... were you positioning for a bounce this week?
To be honest, my habit is to chew on pens.
No I didn't position for a bounce I was already postioned for a bounce. :smile: to a :frown:
MAn I was doing really well to getting back to even now I am back to where I was down ~400k. Ouch. Well at least I am alive and well. I can make more money to replace whats vanished. Just wish I had spent it on consumer BS at this point. LOL
+1
one of my favorites (i actually used it @6am this morning in conversation - before having read it here) and the single best line from Airplane!
The worse part about it is at one point I could afford the gold spray paint and now I am reduced to cheap glue. This sucks. :biggrin:
and I am scared I am going to become smelly and fat and stupid.
Hey, one of my stocks went up $.04!
At this point I'm glad I don't have much in the market...some major bleeding going on.
Great time to buy...there are deals to be had for sure...but when to buy and what?
I never thought I'd see below 10k again...
At this point I'm glad I don't have much in the market...some major bleeding going on.
Great time to buy...there are deals to be had for sure...but when to buy and what?
I never thought I'd see below 10k again...
Wait it out, I have done this a while and to me I have no edge so I wait.
I hit the magic 20% down on my long term account this morning and sold to double my cash position. I couldn't resist buying back mid day when it looked like we were falling into a black hole. I sold large positions of my energy stocks and probably bought back about 15% of them since they fell 20% midday.
Fortunately I usually have my best days trading when the market is falling off a cliff, so that counters any long term losses well. I still feel like a fool getting rid of my EEV hedge for a measly 110$ a few days back. If I had held on to that (hit nearly 150$ today) and if SKF wasn't screwed up because of the short sale ban I probably wouldn't even be down 10%. Should have been more agile, but shoulda coulda woulda is just a waste of time.
I made some change with the gold stocks today. I made over a point on three different occasions with extremely tight trailing stops, which is usually very difficult to do.
Fortunately I usually have my best days trading when the market is falling off a cliff, so that counters any long term losses well. I still feel like a fool getting rid of my EEV hedge for a measly 110$ a few days back. If I had held on to that (hit nearly 150$ today) and if SKF wasn't screwed up because of the short sale ban I probably wouldn't even be down 10%. Should have been more agile, but shoulda coulda woulda is just a waste of time.
I made some change with the gold stocks today. I made over a point on three different occasions with extremely tight trailing stops, which is usually very difficult to do.
I'd have a little more agile plan then that. They are considering backing CC debt with various government provisions. If everyone expects a credit card crisis, it will make no difference.
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There WILL be a real effect as there's no such thing as a free meal. If the government 'pays the bill' taxes will raise which will real effect and therefore effects on the stock market.
One real effect already are the -30% car sales which will diminish the profits (did GM make profit in the last years?
) and even more push GM out of business if the government doesn't react which will the taxes raise again. People don't only buy cars they also redimension their consumtion, again a real effect. And this long before the known fact of the awaited credit card crisis. The comming crises HAS strong real basics, it's not just a bubble like the IT-bubble around the past century. The current crisis is much more than that one. Reminds me of the roaring 20ies. I don't think there will be a depression like in the 30ies but a long enough time to thing about some basic facts. :wink:
Can someone please talk me out of buying GM.
I swaped 20k block from 5.75 to 6.01 but I am thinking of buying some to hold.
seems like it has a pretty good chance of heading lower still... i started to buy 10k f @ 2.88 yesterday and my friend said, "ok, so give me a reason it'll go higher than that right now." today it's 2.43... if it gets closer to 2... 2.10, i'll probably pick up a bit.
i'm not the chart-guy that you are, but it seems to me with the general downward slope we're on right now - even with the "govt buying into banks" trial balloon floated today - GE reports tomorrow (not expected to be very good) and people won't want to hold things over the weekend... could well be another sell-off.
dunno.
ymmv.
The 5 dollar calls are 1.40 that's over 10% if it holds above 5 and protection to 5.
Can someone please talk me out of buying GM.
I swaped 20k block from 5.75 to 6.01 but I am thinking of buying some to hold.
I might have already brought this up, but I worked at Landmark Chevy (#1 in U.S.) and am good friends with one of the previous GM's and his family.
A couple weeks ago GM dealership starting shutting down at an unprecedented rate. Something is different this time. The owner of that dealership owns dozens of GM dealerships, and is completely bankrupt from trying to keep them afloat. The credit markets have destroyed their business model. At 5$ though, it's hard to believe it can go that much lower, but I'm not buying. I remember people buying tons of it when it hit 10.99. Wonder if they still thiink "how much lower can it go".
I bought it. Sold the 5 dollar calls for october for 1.40. Fingers AND toes crossed.
Now if FCX would just sell off a couple of bucks so I can uncover it for a profit I am all set for a rally. But the other part of me says leave it covered until GE reports.
UG
Making history is often unpleasant. I made more money in the last 15 minutes then the rest of the day combined. Thank you ABX and KSS.
Warned you on the gm.
I am fine to 4.40 with the calls.
This current market is EXACTLY why I don't have a job. 401k's gone, retirement payments aren't going to come for people who worked their whole life to put money in those funds. The system has been broken forever. We have another purging of responsibility for corporate america.
You have a family member who counts on a retirement check, you better get the guest room ready for a long term guest coming to stay for, well maybe forever.
You have a family member who counts on a retirement check, you better get the guest room ready for a long term guest coming to stay for, well maybe forever.
steveny
I appreciate your posts in real time. I hope this downturn doesn't turn you off in sharing. I've been sitting on the side watching this thread and reading as much as I can online and am waiting to jump in.
I've talked with a couple of my friends who I would consider to be experts and they keep telling me to wait. I'm kind of like you in that I want to jump in NOW and think that it can't get any lower. I've tracked a few stocks this past week that had I bought then, I would be sinking lower.
I hate this waiting game
I appreciate your posts in real time. I hope this downturn doesn't turn you off in sharing. I've been sitting on the side watching this thread and reading as much as I can online and am waiting to jump in.
I've talked with a couple of my friends who I would consider to be experts and they keep telling me to wait. I'm kind of like you in that I want to jump in NOW and think that it can't get any lower. I've tracked a few stocks this past week that had I bought then, I would be sinking lower.
I hate this waiting game
I wouldn't invest any money here that you can't afford to lose I think we are near a bounce but I don't think we are anywhere near the bottom if there isn't anymore help from the fed.
I just keep rolling calls off and on all day when the stocks swing. I trimmed back to just several positions so I could quickly make those trades. I use to manage 30-50 positions but in this envirorment it is eaiser to manage less.
XOM in the 50's, AAPL in the 80's, X in the 30's(!!!), we are all going to hell in a hand basket or some people are going to make a fortune a few years from now.
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