How 'bout that stock market?
- Thread starter Ski_Banker
- Start date
Any bonds in particular?
You know EEV has fallen 77 dollars exactly on both rallies right? Very interesting. 143 is a little $$ for me (risk 50$ to gain $50 at that level unless you know something I don't) but it's very close to my entry points at the current price of 117. My first buy limit is set at 105.x, 2nd 95.x, 3rd 89.x; as of right now. If we stall tomorrow depending on how the foreign markets act, I might just buy on the open to be safe, I sold all my EEV on the way up and had less downside hedges than usual for this rally, very lucky. I did hit the top level of my buying points for DUG at 44.05. Pretty fortunate since it didn't drop to those levels until seconds before the close.
Overall, partially hedged, my LT account was up 8 or 9% today. Just ran the numbers and still 28% cash, total long equity is 62%, 10% aggressive hedges up from 7% after the last DUG purchase. If EEV were to fall into the 80's and DUG were to get near 30 flat, I'd be fully hedged with overall portfolio direction only slightly in favor of the long side. Oh, and I can sleep at night.
You'd need to look in New York. I have no idea about your specific market but I know the New Jersey Port was one if the highest paying muni's in the country a while back. It's state specific unfortunately (if you want the tax deferral).
I know, it's a big risk, and I was a little disappointed to see it drop even further today. But I asked myself: do I envision the market staying much above 9000, or even 8500, or even 8000? With such an absurd rally backed by relatively low volume and little good news (actually more bad than good from what I saw, lowest consumer confidence in history today and the market is up almost 11%? I bet the market will drop tomorrow even if the Fed drops rates by the expected half point), I wouldn't be surprised to see EEV break even for me on Wednesday.
Dow futures are already down 96pts as of 10:40PM ET. Unless the Fed drops rates by .75 (I've heard it's not that unlikely) I think we'll see a lot of selling.
I don't think you'll have any problem selling it in the 155 range by the end of this week no matter what the fed does. I just hope it falls a little more so I can get my hands on some. If it opens under 125 I might pick up some shares regardless. On the odd chance the markets collapse and oil goes up I am not properly hedged without EEV.
Damn how did I miss that move. It didn't show up on my 30% up/down ticker. MGM moved a lot too.
Not me but someone on this thread I talk to on the phone a few times a week is long LVS and got long a lot lower than it currently is.
I sold puts on MGM last week. I need it to get above and stay above 12.50
I shorted NSC, CSX, and UNP in the cascade before the close. I have hot keys that throw an offer/bid out x distance away to the specialist. My farthest for intraday trading is 1.25$ and all three stocks got swept in seconds (sold short at 40, instant bid put out at 38.75, almost instantly hit for 1.25 gain on each i.e.). What a ride.
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I've been a die-hard AUY guy for a while (emphasis on "die" and "hard"), and what do you know... I sell about half to buy something else, and the next day up 16%. Same with the APA and UNT I sold yesterday, they do nothing but go down, down, down until the minute I sell. Just my luck. Oh well, I guess I still was up 5% today overall.
I am still holding AUY that I bought at 3.85. I will hold it until I see 10 I hope.
Same here, just that every time I post here dow tank the next tday. I need it to tank again and go though the same cycle, so that is my reasoning for posting.
Pretty good day today, bad purchases last week suddenly looking good today.
Unloaded some higher cost basis for small profit today. Regained 75% cash position. Unloaded portion of HXL $1 too early:redface:. Look at that FTK go.
in any market swing there is a bull trap (pulls back a bit and people think they are getting in cheaper) at the top and a bear trap (goes up a bit and people think they are finally getting to short a bit higher) at the bottom. I am not saying the bear trap has gone off but it will and it may have already done so last week.
I moved some of my EEV buy points down since they almost all got hit today so I didn't get in a position where overnight action could cause me trouble. I'm getting close to flat on the year in my long term account and that includes some serious buying on the weigh down in oil stocks. I have gotten out of most of those. Sold a good portion of my NOV above 30 today, cost basis was 35. I started buying in the 60's! Talk about a pyramid. That thing will be up huge in not too long but not patient enough apparently.
oil service had some strong moves. Got lucky on RIG when it started exploding. Made some change off GG and BP. There is nothing better than making a point off a stock you also own in your LT account.
Especially if the LT position is/was in the red.
hah. Fortunately my only purchase of BP was at 40.05 which is looking genius right now. Problem is I only bought 1/3 of what I wanted to buy but I guess I shouldn't be complaining. I am still holding on to some NOV and RIG but they aren't major positions anymore after buying dips and selling even more on pops over the past month.
Please pardon me, I just can't help it. I just have to say "OH.OHHH..Yeah!!" :biggrin:
This type of gains can't sustain, sold some portions today. I can't wait for the next massive bloodbath. Go up we win, go down we still win, this party is too good to be true.
Sold off small high cost portion of SOL for 60% profit, unloaded my expensive FCX portions for tiny profit. Lowered the overall short term risk once again with lower cost basis, still have positions of FCX at $26.68 and $23.68 and AA at $9.68.
11/04/08 Sold -500 of AA @ $12.45 6,214.97
11/04/08 Sold -500 of SOL @ $8.7255 4,352.73
11/04/08 Sold -200 of FCX @ $31.85 6,359.97
That ACAS certainly don't look too shabby a week later, up almost 60% gain since it was last mentioned in this thread. May drop 60% tomorrow, buy at your own risk. FTK still flying.
This type of gains can't sustain, sold some portions today. I can't wait for the next massive bloodbath. Go up we win, go down we still win, this party is too good to be true.
Sold off small high cost portion of SOL for 60% profit, unloaded my expensive FCX portions for tiny profit. Lowered the overall short term risk once again with lower cost basis, still have positions of FCX at $26.68 and $23.68 and AA at $9.68.
11/04/08 Sold -500 of AA @ $12.45 6,214.97
11/04/08 Sold -500 of SOL @ $8.7255 4,352.73
11/04/08 Sold -200 of FCX @ $31.85 6,359.97
That ACAS certainly don't look too shabby a week later, up almost 60% gain since it was last mentioned in this thread. May drop 60% tomorrow, buy at your own risk. FTK still flying.
Jason we need to hang and talk stock! Nice =)
Good job man. I have a ways to go before I can off load my FCX. I did sell the 25 strike calls today I bought a while back. I also bought CNTY, a thinnly traded casino play. I sold AUY today for a very sweet profit and then bought puts as they reported tonight, and they missed too.
Sold a few other positions that I was up on but held on to most everything. Will most likely sell some more tomorrow. I bought a few more leaps today to on BAC, GS, and WFMI.Thanks Steve,
I am glad AUY worked out well for you. Only one trade today and took in loss of ~$100.
11/05/08 Sold -230 of RIMM @ $57.1956 13,144.93
I was hesitant selling RIMM this morning, but I saw it started to go south after it made gains this morning and figured if I don't the hell out, I might not get a chance to unload it for a short while. This move was pure luck.
I got stuck with RIMM since the positions I purchased on October 1st at $65 and $61 on October 3rd. I do have a lot of patience. Later bought position at $51 to average down, just to see it hit $40.XX last month. It was a shame, because RIMM was such a predictable stock to filp for quick profit all of last month. If I didn't got stuck with it so early on, I would had a blast flipping RIMM over and over. I look forward to pick up some more RIMM at much lower price before the release of Blackberry Storm.
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