How 'bout that stock market?

[MAJOR STONER]

The initial crash occurred on Black Thursday, October 24, 1929.

Futures taking a beating.

Up to 30 pct of hedge funds could close...
http://www.reuters.com/article/hedgeFundsNews/idUSLNE49N02620081024

 

[Ryanmcd2]

If you are getting long you are flat out retarded. YOU know the retest of 7800 is coming so why are people getting long? Oh well someone has to lose so I can win.

One thing that does worry me a lot is everyone is now watching 7800.... What that means is 7800 will not hold once it hits and we will get a double sell, people who bought at 7800 and it's now at 7500 and are freaking out become sellers as well as the pros that know retail would freak out and are selling it.

 

[robr]

Should have done much better than this, but my market buy and my sell took forever to fill this morning. It was at $10.60 when I entered my sell order.

10/24/2008 09:31 AM $2,054.00 Sold 200 FITB@ $10.27 Details
10/24/2008 09:30 AM $-1,996.00 Bought 200 FITB@ $9.98 Details

Side note, I've made back $500 of the losses I incurred with MI, $500 to go to break even since I started playing this game a few months back.

I've been nickel and diming my way back with FITB this month.

10/21/2008 09:41 AM Sold 100FITB@$11.4201 $1,142.00 Executed Detail
10/21/2008 09:37 AM Bought 100FITB@$11.389 $-1,138.90 Executed Detail
10/15/2008 09:39 AM Sold 100FITB@$12.70 $1,269.99 Executed Detail
10/15/2008 09:34 AM Bought 100FITB@$12.4457 $-1,244.57 Executed Detail
10/09/2008 11:59 AM Sold 14FITB@$10.75 $150.49 Executed Detail
10/09/2008 10:18 AM Bought 14FITB@$10.34 $-144.76 Executed Detail
10/08/2008 10:30 AM Sold 100FITB@$11.2252 $1,122.51 Executed Detail
10/08/2008 10:30 AM Sold 70FITB@$11.2252 $785.754 Executed Detail
10/08/2008 10:28 AM Bought 70FITB@$11.01 $-770.70 Executed Detail
10/08/2008 10:28 AM Bought 100FITB@$11.0095 $-1,100.95 Executed Detail

 

[sahtt]

Got some $ off BP. I prefer the nice steady movers instead of POT/X when the market is moving up or down but in a choppy manner. You can actually see* the book in BP on the level 2 instead of just watching numbers flly by.

 

[MAJOR STONER]

Chuck Norris has killed black swans with his bare hands.

Chuck Norris rubs the VIX into his chest.

Chuck Norris continues to short the Aussie market.

Chuck Norris flies First Class.

Chuck Norris fought gamma in 'Nam and won.

Chuck Norris still has his PB balances with Lehman.

Don't mess with him.

Chuck Norris doesn't use gates.

He stops investors with one hand.

Chuck Norris thinks 2 & 20 is soft.

Chuck Norris will sub-underwrite Iceland.

Chuck Norris isn't scared by crowded trades.

Chuck Norris will trade with any counter-party.

Chuck Norris takes Iron Ore as a vitamin supplement.

Chuck Norris trades currency with Citic.

Chuck Norris thinks Fannie & Freddie should toughen up, and use some real leverage.

Chuck Norris thinks Credit Crunch is a breakfast cereal.

Chuck Norris's subprime CDO is par bid.

Only Chuck Norris can rollover commercial paper.

Chuck Norris funds at Libor flat.

Chuck Norris Asset Management is hiring and paying top dollar.

Chuck Norris sold Countrywide cds at +1200 and bought it back at+350.

Chuck Norris can borrow at the discount window.

Chuck Norris can sell $300 bln in high yield loans before lunch.

Chuck Norris's curves are never inverted.

Chuck Norris doesn't hedge. He waits.

Chuck Norris doesn't mark to market. The market marks to Chuck Norris.

 

[steveny]

Should have done much better than this, but my market buy and my sell took forever to fill this morning. It was at $10.60 when I entered my sell order.

10/24/2008 09:31 AM $2,054.00 Sold 200 FITB@ $10.27 Details
10/24/2008 09:30 AM $-1,996.00 Bought 200 FITB@ $9.98 Details

Side note, I've made back $500 of the losses I incurred with MI, $500 to go to break even since I started playing this game a few months back.

I've been nickel and diming my way back with FITB this month.

10/21/2008 09:41 AM Sold 100FITB@$11.4201 $1,142.00 Executed Detail
10/21/2008 09:37 AM Bought 100FITB@$11.389 $-1,138.90 Executed Detail
10/15/2008 09:39 AM Sold 100FITB@$12.70 $1,269.99 Executed Detail
10/15/2008 09:34 AM Bought 100FITB@$12.4457 $-1,244.57 Executed Detail
10/09/2008 11:59 AM Sold 14FITB@$10.75 $150.49 Executed Detail
10/09/2008 10:18 AM Bought 14FITB@$10.34 $-144.76 Executed Detail
10/08/2008 10:30 AM Sold 100FITB@$11.2252 $1,122.51 Executed Detail
10/08/2008 10:30 AM Sold 70FITB@$11.2252 $785.754 Executed Detail
10/08/2008 10:28 AM Bought 70FITB@$11.01 $-770.70 Executed Detail
10/08/2008 10:28 AM Bought 100FITB@$11.0095 $-1,100.95 Executed Detail

That's awesome I only have about 500 to get back to even myself.:biggrin:

 

[robr]

Holy $h1t!! FITB closed at $8.07, down almost 29%. I'll be watching that at 9:30 on Monday .

 

[da3dalus]

Chuck Norris will sub-underwrite Iceland.

Can I just congratulate you on posting up one of the most epic posts i've ever seen.

:biggrin::biggrin::biggrin:

 

[nsxsupra]

Saw the dow future tanking overnight, decided the best move was to slept in and wake up at 9am.

Resisting temptations was hard.

 

[sahtt]

Would have been more profitable to stay at home today. Too bad you can't know that before you leave to work haha.

 

[nsxsupra]

If you are getting long you are flat out retarded. YOU know the retest of 7800 is coming so why are people getting long? Oh well someone has to lose so I can win.

There are people who already calculated the possibilities of sub-dow 8000 into the open bid price. There are plenty of people going long, do I even need to mention names?

Last Thursday the market was on its way for a sharp rally until the word "once in a century credit tsunami" word came out of Greenspan. I look forward to see 7k as long as we get sharp rallies once a while.

You already know the volatility is daytrader's dream, especially last several weeks. Buying on the dip and sell into rally has been working. While last week not so great. My realized gain (settled) for the period from September 21st to October 21st is +$13502, while just a tiny amount, not losing in this tough market is already remarkable. I am having a great time so far with exception of last Thursday, the fun factor alone is well worth participating.

 

[sahtt]

There are people who already calculated the possibilities of sub-dow 8000 into the open bid price. There are plenty of people going long, do I even need to mention names?

Last Thursday the market was on its way for a sharp rally until the word "once in a century credit tsunami" word came out of Greenspan. I look forward to see 7k as long as we get sharp rallies once a while.

You already know the volatility is daytrader's dream, especially last several weeks. Buying on the dip and sell into rally has been working. While last week not so great. My realized gain (settled) for the period from September 21st to October 21st is +$13502, while just a tiny amount, not losing in this tough market is already remarkable. I am having a great time so far with exception of last Thursday, the fun factor alone is well worth participating.

I'm definitely shorting pops more than buying dips but every day we are up and* down 3-500 points, so either way works. In my LT account (barely trade it intraday) I'm doing some only lightly hedged buying and have some unhedged buy limit orders sitting. I picked up some BP when it was yielding 8%, some PWE, WMI, and some KMP, all fortunately lower than we are right now so they are green which is nice. I have 1/3 of those positions established so I am looking foward to the next black monday. We get one every other week if you haven't noticed. There are some incredible income plays at these levels. These are the kind of dividend stocks you pay your ferrari loan payments with 5-10 years from now while everyone else is still* trying to call the bottom on U.S. Steele if this financial crisis continues.

 

[steveny]

I'm definitely shorting pops more than buying dips but every day we are up and* down 3-500 points, so either way works. In my LT account (barely trade it intraday) I'm doing some only lightly hedged buying and have some unhedged buy limit orders sitting. I picked up some BP when it was yielding 8%, some PWE, WMI, and some KMP, all fortunately lower than we are right now so they are green which is nice. I have 1/3 of those positions established so I am looking foward to the next black monday. We get one every other week if you haven't noticed. There are some incredible income plays at these levels. These are the kind of dividend stocks you pay your ferrari loan payments with 5-10 years from now while everyone else is still* trying to call the bottom on U.S. Steele if this financial crisis continues.

check FCX it near 7%

 

[sahtt]

check FCX it near 7%

Poor FCX still hasn't found support. All the other ones I mentioned have been bouncing around, FCX is still falling. It also has over 10% of the float short and a tiny bit more debt than I'd like. That being said, I'm probably going to throw some buy limits out in my LT at 20.0x and see if I can get luckly. I'll probably put a stop loss a couple quarters below that in case it wants to see 15 or 16. I think it has like 95-99% institutional ownership, not a good thing right now. I'll do a little more homework.

 

[steveny]

Poor FCX still hasn't found support. All the other ones I mentioned have been bouncing around, FCX is still falling. It also has over 10% of the float short and a tiny bit more debt than I'd like. That being said, I'm probably going to throw some buy limits out in my LT at 20.0x and see if I can get luckly. I'll probably put a stop loss a couple quarters below that in case it wants to see 15 or 16. I think it has like 95-99% institutional ownership, not a good thing right now. I'll do a little more homework.

I thnik I will be holding mine for years before it gets back to what I paid for it. I might double up if it gets to 20.

This is the first time in a long time that I can say I wish I had more money to load up on the dividend stocks.

 

[sahtt]

I thnik I will be holding mine for years before it gets back to what I paid for it. I might double up if it gets to 20.

This is the first time in a long time that I can say I wish I had more money to load up on the dividend stocks.

First time for me. I'm thinking of moving out the little bit I have in RIG into PTR if RIG pops again. Not that it's supposed to matter buy my RIG basis is under 100 now, so selling it at 85 and moving into PTR, which has a very similar/chart upside potential and would be pushing an 8-10% yield by the time I actually buy it since I'm such a cheap a$$ when it comes to these kind of stocks.

 

[excellon]

I'm looking to creating a long term portfolio. You guys mentioned dividend stocks... got any suggestions i should take a look at?

 

[Dtrigg]

I'm looking to creating a long term portfolio. You guys mentioned dividend stocks... got any suggestions i should take a look at?

Not to say anything negative about anyone on this board, but you need to speak with a professional money manager about your investing goals. What is your risk tollerance? How much money do you have to invest? What are your time frames, etc., etc.

 

[nsxsupra]

I'm looking to creating a long term portfolio. You guys mentioned dividend stocks... got any suggestions i should take a look at?

I have no interest in ACAS, currently at $10.67, quarterly dividend at $1.05

IF that holds, you know what it means, nearly 40% annually just from dividend. Be very careful though.

Previous Day's Closing Price* $10.67
Annual Stock Dividend $4.20
Current Dividend Yield 39.36%

 

[steveny]

I have no interest in ACAS, currently at $10.67, quarterly dividend at $1.05

IF that holds, you know what it means, nearly 40% annually just from dividend. Be very careful though.

Previous Day's Closing Price* $10.67
Annual Stock Dividend $4.20
Current Dividend Yield 39.36%

that's insane. there is no way that will hold.

 

[Dtrigg]

that's insane. there is no way that will hold.

Hay excellon...

See what I mean. Steve just proved my point about the type of advice you may get on this board. He knows what he's talking about.

If you don't have a lot of experience, get professional advice.

Thanks Steve. Excellon, you should thank him too.

 

[excellon]

I understand that this is a public board and everyone is entitled to their opinions. I just like to see what everyone suggests and I still do my research on each company to see what everyone sees. Its more of gaining some personal experience. I'm not going to put my life savings on an advice found on a public board.

And I'm not holding anyone against it and I appreciate everyone's honesty.

And FYI, I'm still young (under 25) and I already been investing in other long term investments. I am looking to take advantage of the low/WEAK market and see if I can make something happen 15-20+ years down the road, more or less of a side investment for me.

 

[steveny]

Don't listen to anything I say. I have done VERY poorly this year, but then again who hasn't. :biggrin:

that being said my best guess is ACAS will cut the dividend and the stock will get crushed.

 

[sahtt]

Hay excellon...

See what I mean. Steve just proved my point about the type of advice you may get on this board. He knows what he's talking about.

If you don't have a lot of experience, get professional advice.

Thanks Steve. Excellon, you should thank him too.

80-90% of the investing public should be taking advantage of muni pricing and ignoring the stock market all together. Our discussions here are definitely only to be implemented by those who know what they are doing. Steve and I have been doing this for years and we are still* figuring it out, often the hard way.

I'm licensed three ways to Sunday so I'm not supposed give direct advice anyways to the general public.

 

[sahtt]

OXY/BP/X all had strong earnings. These are relatively safe dividend plays for the forseeable future.