You live in earthquake country and you don't?
How 'bout that stock market?
- Thread starter Ski_Banker
- Start date
- Joined
- 27 June 2003
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well yea but not for extended periods...
Long time no post. Today is best day for a while, last Tuesday seem like years ago, very ironic.
I guess if playing bull doesn't work, play bear instead.
Changed up the strategy a bit and played ETFs. Exited the bear side of etf today just in case, pretty happy overall. I don't think bear can sustain this type of consecutive gains since November 13th without at least taking a massive shit. Bought 25% allocation of Bull etf today just for insurance. The price is getting sexier day by day and balls are getting smaller day by day as well.
Saving cash firepower for months to come in case there are other opportunities with other massive dips in the market. This is definitely a spectacular ride.
Got ass raped with SOL so hard it is not even funny, remaining positions wiped out my prior earlier SOL settled gains and then some -$4k, If I had sold all remaining positions $8.8, it would had been fat profit instead of loss. it happened so fast, so hard. Solar sector was hit hard like everything else, and SOL got hit the hardest in its sector.
I was very depressed when I sold 230 shares of RIMM at $45.08 this Tuesday ($40.08 cost basis) and saw it went up to $48 in what seems like minutes later. Fear got me this time. I always made exits too early, had chance to pick up more and look good. It should get a nice fat rally with release of Storm today.
Dumped X at $31 just a few days ago with $380 loss. The loss could had been $3k if I had not made that move. Really wanted to get back in today with small allocation at $21, but fear prevented me from getting this long term great buy and possible quick short term 20~30% profit within next 7 days.
I guess if playing bull doesn't work, play bear instead.
Changed up the strategy a bit and played ETFs. Exited the bear side of etf today just in case, pretty happy overall. I don't think bear can sustain this type of consecutive gains since November 13th without at least taking a massive shit. Bought 25% allocation of Bull etf today just for insurance. The price is getting sexier day by day and balls are getting smaller day by day as well.
Saving cash firepower for months to come in case there are other opportunities with other massive dips in the market. This is definitely a spectacular ride.
Got ass raped with SOL so hard it is not even funny, remaining positions wiped out my prior earlier SOL settled gains and then some -$4k, If I had sold all remaining positions $8.8, it would had been fat profit instead of loss. it happened so fast, so hard. Solar sector was hit hard like everything else, and SOL got hit the hardest in its sector.
I was very depressed when I sold 230 shares of RIMM at $45.08 this Tuesday ($40.08 cost basis) and saw it went up to $48 in what seems like minutes later. Fear got me this time. I always made exits too early, had chance to pick up more and look good. It should get a nice fat rally with release of Storm today.
Dumped X at $31 just a few days ago with $380 loss. The loss could had been $3k if I had not made that move. Really wanted to get back in today with small allocation at $21, but fear prevented me from getting this long term great buy and possible quick short term 20~30% profit within next 7 days.
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ouch. well, i'm sitting here holding 200 shares of FITB that I bought at what I thought was a bargain basement price of $9.15. Figured there wasn't much danger holding them overnight at that price. Oops. It's at $6.45 now.
Steve, remember when you said it was a bargain at $18ish?
I have no doubt it will bounce back pretty quickly though.
Steve, remember when you said it was a bargain at $18ish?
I have no doubt it will bounce back pretty quickly though.
POT has been lagging the emini's and MON. Free money if you have good enoguh software.
ouch. well, i'm sitting here holding 200 shares of FITB that I bought at what I thought was a bargain basement price of $9.15. Figured there wasn't much danger holding them overnight at that price. Oops. It's at $6.45 now.
Steve, remember when you said it was a bargain at $18ish?
I have no doubt it will bounce back pretty quickly though.
No I don't remember saying that. :frown:
I do remember having a lot more money than I have right now.
Just busting your balls, it was on 6/11 that you said it was a bargain.
http://www.nsxprime.com/forums/showpost.php?p=1012921&postcount=1290
On 6/11 FITB closed at $15.34, with a high of 16.63, so my $18 was a bit off. I sure am glad I'm just playing with chump change compared to many of you guys.
I remember saying it rob I was just being coy.
If this shit keeps up we will all be playing with chump change.
Ah, the lack of smiley made me think you were serious. It's times like this the idea you discussed with me would be handy
.
Bought KMP, BAC, BP, ATVI, LINE, CAT, FCX over the past two days pretty heavy as I let go of all my hedges in my LT account. I'm down to X00 in cash! Green on CAT, BP, and LINE thanks to the rally. Still down slightly in the rest. The rest of my older positions were getting very ugly before the rally, down 15-25% even after buying like a champ on the way down. Usually I cut them around the 15% mark but in this market I can't see that working out. It's up to the market gods now. I'll short VNO/IYR again (covered this morning) on the open Monday and if we get close to 9k I'm loading up on hedges again. I can't BELIEVE how high SRS/SKF have gone. This market is on its last breath.
Had an excellent trading day which makes any LT losses much easier to absorb. I can't remember if it broke my old record but it was close.
Hang in there Steve and robr, I know times are tough. We are all in the same boat and eventually times will be better. FITB was a great value then but there are market forces at work here that are out of everyone's hands. It's mostly luck I have avoided/shorted financials up until a couple days ago when I bought BAC. I bought again under 11 and I'm still down double digits. I hope those with C had an exit point (under 10 might have been a very good sign something was wrong).
Had an excellent trading day which makes any LT losses much easier to absorb. I can't remember if it broke my old record but it was close.
Hang in there Steve and robr, I know times are tough. We are all in the same boat and eventually times will be better. FITB was a great value then but there are market forces at work here that are out of everyone's hands. It's mostly luck I have avoided/shorted financials up until a couple days ago when I bought BAC. I bought again under 11 and I'm still down double digits. I hope those with C had an exit point (under 10 might have been a very good sign something was wrong).
Ski_Banker
Suspended
Note: This doesn't really apply to the day/ST-traders among us, but:
I've learned, both personally and professionally (from the very best in PE) that the most difficult thing to do as an investor is...nothing. Master the ability to be patient, even for VERY long periods (Buffet has been sitting on $40Bn of cash for a decade), and you will do very very well.
The stock market isn't buy vs. sell. It's buy more, sell what you have, or do absolutely nothing.
I've learned, both personally and professionally (from the very best in PE) that the most difficult thing to do as an investor is...nothing. Master the ability to be patient, even for VERY long periods (Buffet has been sitting on $40Bn of cash for a decade), and you will do very very well.
The stock market isn't buy vs. sell. It's buy more, sell what you have, or do absolutely nothing.
Yes, Shifu
Thank you for teaching the ultimate move that kicks market's ass:biggrin:
Unfortunately I took profit too early yesterday on UYM and WEN to reduce risk, have not yet mastered the skill of being patience, good news is that I still loaded up with decent amount at last week's price. Lowered my overall cost basis by a lot. Got out of BAC today at $14.5 just in case and moved the fund into faster moving UYG.
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FITB came back... sure wish I could have bought in at that $6.xx level. Some people made a nice 50% in just a few days.
My BAC position after going in heavy at 10.88 is looking good.
However, the 2:50~ rally today out of no where hit me right in the gut. I was short x,ooo CNX starting from 26.48 and a similar situation with POT at the 59$ repeater that had been going off almost all day. I ended up losing a 30 cents on CNX before I was able to get out of all my shares and almost twice that with POT. I was loading up some BRK.B and got caught off guard. It's going to take a while to recover from that one.
However, the 2:50~ rally today out of no where hit me right in the gut. I was short x,ooo CNX starting from 26.48 and a similar situation with POT at the 59$ repeater that had been going off almost all day. I ended up losing a 30 cents on CNX before I was able to get out of all my shares and almost twice that with POT. I was loading up some BRK.B and got caught off guard. It's going to take a while to recover from that one.
Last week I was out of town, glanced at the BAC price and reuped at 16.00 only to watch it fall down to where you bought in at. Hopefully It'll crawl back over 20 sooner than later.
Had I not been travellin on Friday I would've doubled down at that price!!!!
After the news announcement about C's dividend going to .01 I was concerned BAC might get hit hard but when C responded "ok" I felt more comfortable. I'll be taking profits at 19, cost basis 13.
Same boat Chad,
I have classes during week days, it is so tough to make moves. Soon my finals will be over. Can't wait to get it over with so I can get my life back. See you tomorrow for basketball.
I need BAC to go up like a rocket as big portion of UYG is BAC. Go BAC!!!!
Just a reminder
The NYSE and NASDAQ will close trading early (at 1:00 PM ET) on Friday, November 28, 2008 (the day after Thanksgiving)
The NYSE and NASDAQ will close trading early (at 1:00 PM ET) on Friday, November 28, 2008 (the day after Thanksgiving)
So it sounds like we will only lose 1/2 as much money as normal!
I brought my lap top and that new adapter device you can use to get on the net anywhere there is phone service but I looked over the market and decided not to trade. There were few NASDAQ's that looked good to the downside but my connection isn't really good enough to mess with it.
Plus thanksgiving is no time to lose money in the stock market. Plenty of time for that later.
Plus thanksgiving is no time to lose money in the stock market. Plenty of time for that later.
aka..short
********* YOU HAVE TO OPEN THIS ACCOUNT TODAY ******
you do not have to fund it today.
100% return in 6 months, not bad.
---------------
optionsxpress $500 bonus for opening $500 min. account --ends 11/30/08
Open an account by today with minimum $500 and get a $500 bonus after six months.
http://forums.slickdeals.net/showthread.php?t=1047935&p=14856375&highlight=#post14856375
you do not have to fund it today.
100% return in 6 months, not bad.
---------------
optionsxpress $500 bonus for opening $500 min. account --ends 11/30/08
Open an account by today with minimum $500 and get a $500 bonus after six months.
http://forums.slickdeals.net/showthread.php?t=1047935&p=14856375&highlight=#post14856375
You know my cheap ass did it. Should have made one for my girl friend. I could have given her $50 and she would have been thrilled.
They probably got a big f---ing margin call and are trying to get funds to cover it. If they don't get enough funds you can kiss your 500 bucks goodbye.
Check around they aren't very good to do business with.
Just consider it a lose all your $$ or double it scenario I guess. I didn't see where it stated by what time you have to actually fund the account, only that you keep 500$ in it and complete 1 trade over the following 6 month period. I'm going to let it blow over a few weeks before I send them my cash. It's FDIC insured anyways.
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