How 'bout that stock market?
- Thread starter Ski_Banker
- Start date
Any worthwhile implications for the broader market? Corp america still has cash if they do well I guess?
Beat by quite a bit. Should be a good day for my Visa stock tomorrow, esp. since AXP also holds consumer debt while Visa doesn't.
Today is not a good day for me. All my positions went up today, but I have 12 open buying bids, none of them hit today. $80% cash position at the moment. I hope to increase the holdings in my positions, just in case.
Hope we see low 8k or even touch high 7k again soon.
Hope we see low 8k or even touch high 7k again soon.
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Same boat. I've lightened up on a lot of my holdings and am 45% cash. I want another crash already. This time I have plenty of EEV and DUG to sell at dow 7k so I can buy even more shares.
Today is not bad. 3 out 12 of wish list buying orders went though today.
Did two bonus additional small orders outside of my 12 wish list orders just for kicks during last 30 minutes of regular trading session.
Buy 100 AAPL Executed @ $91.24
Account: xxxx-xx42 Your GTC buy order for 100 AAPL at a limit price of $91.3 was executed at $91.24. See order # 325 for details.
Buy 100 RIMM Executed @ $50.98
Account: xxxx-xx42 Your GTC buy order for 100 RIMM at a limit price of $50.98 was executed at $50.98. See order # 322 for details.
Both AAPL and RIMM are not part of my wish list as I already had position at higher cost basis for both RIMM and APPL:frown:. I would admit my prior AAPL positions was the biggest mistake I had ever made. Averaging down and sell during sucker's rally has allowed me to unload 50% of my prior positions with no loss last week. Tomorrow I hope to unload my remaining higher cost AAPL shares.
Did two bonus additional small orders outside of my 12 wish list orders just for kicks during last 30 minutes of regular trading session.
Buy 100 AAPL Executed @ $91.24
Account: xxxx-xx42 Your GTC buy order for 100 AAPL at a limit price of $91.3 was executed at $91.24. See order # 325 for details.
Buy 100 RIMM Executed @ $50.98
Account: xxxx-xx42 Your GTC buy order for 100 RIMM at a limit price of $50.98 was executed at $50.98. See order # 322 for details.
Both AAPL and RIMM are not part of my wish list as I already had position at higher cost basis for both RIMM and APPL:frown:. I would admit my prior AAPL positions was the biggest mistake I had ever made. Averaging down and sell during sucker's rally has allowed me to unload 50% of my prior positions with no loss last week. Tomorrow I hope to unload my remaining higher cost AAPL shares.
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In regards to your AAPL position established at 91, you will be up at least 10% on the open as long as the asian markets behave. Wouldn't overly worry about that one. I cannot accurately nor consistently predict RIMM's price patterns so I don't mess with that one. If AAPL's movements in after hours are any indication, you won't have any problem unloading either tomorrow.
My only good trade in my long term/personal account was several points on DUG. EEV was up substantially but I don't count unrealized.
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Fairly choppy today. Up a little but nothing impressive. Nice gains on EEV/DUG in my LT account though. A few oil service stocks got obliterated today.
sold puts on Rimm at the 50 and MGM at the 12.50.
Sold puts on FCX at the 25 and bought calls with the proceeds.
bought calls on GS at the 250 for jan 2011
bought calls on BAC at the 20 strike for nov.
bought calls on WU at the 15 for jan
Bought NUE and WU
Sold puts on FCX at the 25 and bought calls with the proceeds.
bought calls on GS at the 250 for jan 2011
bought calls on BAC at the 20 strike for nov.
bought calls on WU at the 15 for jan
Bought NUE and WU
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Sold GS @ $114.90 to buy more AUY @ 4.05. I've been trading AUY all year and it has been absolutely hammered unfairly. I want to get back into GS in the long run, but AUY is at a ridiculous price right now and I didn't have much else I was comfortable with letting go of. Hoping AUY will come up some and I can get back into GS at a good price. Gold hit a 1-year low today, although the COMEX price is nowhere near the real street price of gold (a whole other story, don't get me started).
You watch the metals going into the close. I was long X at I think 32.10, not sure on the dollar but sure on the cents. The market starting giving way by X wouldn't fall, someone with extremely deep pockets, I'm talking pacific ocean deep, kept that sucker above .10 for a long time. I ended up taking a quarter on the upside but missed the huge collapse.
I got a small part of the rally but barely a fraction of it. NUE/MT/X all trade together usually.
I like the FCX trade.
Nearly 950 point swing today between low and high point of the session.
Bought FCX at $26.68, AMD at $3.66, AUY at $4.08, and AA at $10.60, probably ride the next swing if it happens. Unfortunately HXL still out of reach. I love to double my position with HXL, but not at current going price.
Bought FCX at $26.68, AMD at $3.66, AUY at $4.08, and AA at $10.60, probably ride the next swing if it happens. Unfortunately HXL still out of reach. I love to double my position with HXL, but not at current going price.
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I was looking at AA too. I think I will pick some of that up tomorrow if it's still cheap.
We should put some money together and go buy some casinos. Maybe stick a Viper dealership in there like the wynn after we buy that asset off dodge when it gives up, no one is going to be able to afford new ferrari's anymore.
Got that idea when I shorted LVS once that order at 10.00 finally gotten eaten through.
Got that idea when I shorted LVS once that order at 10.00 finally gotten eaten through.
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Glad to know I'm not alone with AUY. I just don't see how, long term, it can possibly stay this low. I sold this stock at over $19 earlier this year. All signs point to gold going higher in the next couple of years, and the miners have been punished far more than they deserve this year. Do you pay attention to the Gold/XAU ratio? I believe it's at the lowest ever right now, and historically that is an indicator of huge returns in mining stocks.
I wrote a sizeable post on this issue and the energy trade not too long ago, about when the cracks in oil starting showing. So far with the coordinated rate cuts and generous government spending this will be "OK", but deflation is still on the table and gold will be decimated. The pricing of gold right now is actually a little elevated IMO, and that's coming from a big gold "fan". I bought in the 600-620 range and sold in the 900's when the first gold run took place and NOBODY thought gold would see 4 fiigures.
FCX is at $25...X at $33...LVS at $8.. damn.
You still working with those puts at the 25 strike steve?
You still working with those puts at the 25 strike steve?
So whats your opinion of AUY?
I don't know what is going on with that stock. If you compare where AEM, NEM, GG, ABX, and AUY were when gold was at these levels previously, they range from down 50% to 85% lower now. They simply do not follow gold anymore on an even semi-near term basis. I'm looking at AUY right now and it's at 3.81. I don't know how you can realistically assess it has a better chance of reaching 7.70 than 1.89, roughly 50% swing etiher way. I trade the gold stocks heavily, they are all breaking new multi-year lows with gold still quite high. If you want to buy them make sure you are doing it for the right reasons. Also double triple check balance sheets.
For trading vehicles they are great because they get obliterated 2-3 days of the trading week.
I bought 1k AUY at 3.86. Expect it to get cut in half now. LOL:biggrin:
I have gotten pounded this week.
I'm having a mediocre week but I've been 2-3 times more frustrated than usual. It takes a lot to get me pissed of while trading and I wanted to throw the keyboard around a few times, even when I was up (about a happy meal's worth) on the day. Right now I'm up fifteen* dollars on the short side. WTF is that. Made some money on XOM in the middle of this post but on the long side obviously.
Piker!
I keep extra keyboards in the attic.
No I am not joking. I spike them off the floor and smack them off the corner of the desk. it doesn't change much but I sure do feel better afterwards.Got pounded on AA, RIMM. Today felt exactly like the Thursday October 9th.
The 2 previous best buying days were October 12th, and 16th. The scariest days are usually the best buying day, today was quite scary, especially for metals
.
The up day completely turned following Alan Greenspan's testimony. This market is so emotional.
Same strategy today bought additional AA and FCX at low cost basis. If no bad news tomorrow, the higher cost AA and FCX will be unloaded.
Exit RIMM this morning with $200 net loss @ $49.02, back in at $44.68, exited AAPL at $99.08, will get more AAPL if it drop below $90, no big deal if AAPL continue to go up, there are lot of other heavily discounted stocks that have far better up side potential IMO. HXL remain strong and out of what I want to pay.
Looking on the bright side, in the worst case scenario AUY could potentially be the most expensive gold powdered toilet paper we ever bought:biggrin:.
The 2 previous best buying days were October 12th, and 16th. The scariest days are usually the best buying day, today was quite scary, especially for metals
.The up day completely turned following Alan Greenspan's testimony. This market is so emotional.
Same strategy today bought additional AA and FCX at low cost basis. If no bad news tomorrow, the higher cost AA and FCX will be unloaded.
Exit RIMM this morning with $200 net loss @ $49.02, back in at $44.68, exited AAPL at $99.08, will get more AAPL if it drop below $90, no big deal if AAPL continue to go up, there are lot of other heavily discounted stocks that have far better up side potential IMO. HXL remain strong and out of what I want to pay.
Same boat:redface.: However, I seen worse days this month. It did not took took long to undo the damage done and lower the cost basis in the previous 8 day tanking streak. It takes a lot of guts to play in this market.
Looking on the bright side, in the worst case scenario AUY could potentially be the most expensive gold powdered toilet paper we ever bought:biggrin:.
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Well, I made my first trade today in a long time.
I've been watching RRI (local retail energy company) for a while now. I missed out on the day they announced they got some financing (stock doubled that day). My buy order hit shortly after lunch time at $5.00 and I came very close to my sell price towards the close of the session (went ahead and did a market sell at $5.47).
I was a bit too nervous about posting this one up on this thread in real time since it had been a while since I traded stocks. Nothing fancy here. Just going with something I've been watchign for a while
I've been watching RRI (local retail energy company) for a while now. I missed out on the day they announced they got some financing (stock doubled that day). My buy order hit shortly after lunch time at $5.00 and I came very close to my sell price towards the close of the session (went ahead and did a market sell at $5.47).
I was a bit too nervous about posting this one up on this thread in real time since it had been a while since I traded stocks. Nothing fancy here. Just going with something I've been watchign for a while
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