How 'bout that stock market?
- Thread starter Ski_Banker
- Start date
I loaded up a little heavier than was wise in retrospect last week but fortunately it worked out well today. Most of my stuff was up 20-25+% today, atvi, nov, etc. I took gains about one minute before the close in my long term account on the stuff I bought last week.
If you average down with size you only need to be about 33% right and you can still make money/break even. Even in the greatest stock market crash in history in many regards. No worries now, I have 7.5% of my portfolio in EEV @ 100 and I'll be buying DUG as I take profits in energies if this week's sucker rally continues.
If you average down with size you only need to be about 33% right and you can still make money/break even. Even in the greatest stock market crash in history in many regards. No worries now, I have 7.5% of my portfolio in EEV @ 100 and I'll be buying DUG as I take profits in energies if this week's sucker rally continues.
I'm looking at the chart but don't really see your angle. It's just too uncertain right now unless you are doing it as a hedge of some sort.
Sold 25% of the EEV I picked up at 108 and 92 at 125$ today. Next target is 135.
Well if it stays above 23.75 I would be fine and if it stays above 25 I can pull a buck and a quarter.
Nice trade on EEV, I looked at that the other day when you brought it up but there really wasn't a good options play on it at the time. You think 135 is coming? What time frame are you thinking?
It's more of a hedge. I wouldn't really buy above 100 from now on, not good enough risk vs reward. It could see 135 today, that girl is wild. I have a limit sell in my LT at 134.66 since it'll often hesitate near big whole numbers as traders ditch it so they don't get a sharp pull back. I have another sell limit 10 above that and then most of my position will be gone. If you have any foreign market/energy exposure it's a good hedge. SKF is no longer very useful with government intervention. Trading EEV keeps my LT fairly flat as the market sinks.
Still don't know about AXP. It bounced off of 20.xx at the bottom, I think high 21's/low 22's are quite plausible in the short term.
Quick question... who do you use to trade? Online trading? Scottrade? E*Trade? Etc?
I use several places but scottrade the most.
Hah, note the high today steve, EEV's is 129.87, told you they avoid the whole numbers like that. I use zecco for my LT account because it's cheap. At work I use the firm's software and GS is our clearing house. It's hard to trade without the firm's software now that I'm used to it. It's like trading without the level 2 window for the first time.
Those bastards.
I still can't find a options trade on EEV that I like.Locking up my profit on XOM with friday 65's. 3.25 each, BAM!!!
This AXP is looking good too.
I sold a bunch of puts at the 25 level. also went long at 24.79 and sold the 25's for friday. AXP reports on Monday and I believe they are a good company but the smallest issue will get blown up and the stock might get crushed.
Looks like a lot of my account will sweep on Friday.
Friggen FCX is still driving me nuts. I have been swapping out calls on it for a while, I sold the 40's yesterday for 3 bucks each so those will go out worthless I am sure. Just need to keep rolling out those calls to make up a better than 51 FIFTY ONE dollar drop from where I bought it. I should have closed it but I didn't and now I am down a bunch on the thing. I believe it's a good company and once the people in charge get it knocked down to where they want to buy it, it should travel back up pretty rapidly.
Those bastards.
Locking up my profit on XOM with friday 65's. 3.25 each, BAM!!!
This AXP is looking good too.
I sold a bunch of puts at the 25 level. also went long at 24.79 and sold the 25's for friday. AXP reports on Monday and I believe they are a good company but the smallest issue will get blown up and the stock might get crushed.
Looks like a lot of my account will sweep on Friday.
Friggen FCX is still driving me nuts. I have been swapping out calls on it for a while, I sold the 40's yesterday for 3 bucks each so those will go out worthless I am sure. Just need to keep rolling out those calls to make up a better than 51 FIFTY ONE dollar drop from where I bought it. I should have closed it but I didn't and now I am down a bunch on the thing. I believe it's a good company and once the people in charge get it knocked down to where they want to buy it, it should travel back up pretty rapidly.
35pts on the 125 sell, 45 pts on the 135 sell. Told you it could see 135 today.
Yeah they need to shut CNBC off and just let bloomberg take care of
it. Bloomberg reports with no emotion. Really these guys on CNBC need
to cool it big time. 1/2 the problem is cnbc
I went on a buying spree today
Bought some
XOM
AXP
Rolled calls for friday on both after they ran up a bit, the premium
is almost wiped out of them at the close.
I did a put spread on
AXP
AAPL
Also bought some ge calls for 2010 and bought some whole food calls
for 2011
I closed put spreads I had on
AXP
RIMM
Both were losers
it. Bloomberg reports with no emotion. Really these guys on CNBC need
to cool it big time. 1/2 the problem is cnbc
I went on a buying spree today
Bought some
XOM
AXP
Rolled calls for friday on both after they ran up a bit, the premium
is almost wiped out of them at the close.
I did a put spread on
AXP
AAPL
Also bought some ge calls for 2010 and bought some whole food calls
for 2011
I closed put spreads I had on
AXP
RIMM
Both were losers
You can't be right all the time but it's better to be right more than 50% of the time.
time to re-test the lows 7800 anyone?
yes
I raised my sell limits up, I'm ready for EEV 200. Try and break me. It's up 145+ in AH. I bought some more ATVI nothing else got cheap enough today. I'm almost* about to buy some WMI and a couple other dividend plays so I won't have to day trade my LT account like I currently am (sort of). WMI was a steal at 25$, wish I would have bought some. It only fell one dollar today because now everyone knows about the dividend and the fact garbage clean-up is probably the only safe industry in a depression. Remember, the U.S. government is the world's biggest polluter. We all know they aren't going anywhere or downsizing anytime soon.
I should interview them for a trading job. I bet they don't charge you any commissions and you get all the capital via tax payers you can fit in a dump truck.
I should interview them for a trading job. I bet they don't charge you any commissions and you get all the capital via tax payers you can fit in a dump truck.
Any good trades today? I should be a millionaire, literally, with the moves gold made today. Still not sure how I messed that up but I got .25 moves instead of 2.50 moves.
Nothing yet. Sitting in the airport so I am just monitoring what I am holding. It's crazy going from my set up at home to this 17" laptop.
You guys make me want to jump into the "game" of stocks... :biggrin:
Come on and hop onto the money train J/K:biggrin:
Today is another wild day. Last few sessions has been spectacular for me. First half of today was almost like last Friday, Christmas for buyers. Monday and Tuesday morning was seller's profit taking day.
A bit surprised that my buying bid for FCX actually hit today with at $30.06.
Right now the price has far larger safety margin then 2 weeks ago. Chances of going lower is still possible but there are so much more buffer room. Just got to make moves accordingly and constantly putting yourself in better position by making exit and re-entries. Greed often makes people hang on to position too long. I am wishing dow to hit 7000s again.
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Yup, I've been doing a lot of reading and researching while at work (yes we're very slow). Every stocks you guys mention I go check up on Google Finance to see what's going on. Its quite interesting... I try not to read too much opinion websites regarding finances and stocks but instead I try to learn all the terms and how to read all the information presented on Google Finance and others.
I've also been looking into Scottrades (seems to be the cheapest online broker right now).
Hopefully when I get more of a feel for everything, I'll be ready to drop 5 LARGE! ($500 that is... ha - or more :wink
.
haha.. you guys watch ol' Ben tear that hearing up? He is getting good at it. That one lady tried tried to pull one on him about the fed and CFC and he owned her.
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