How 'bout that stock market?

[sahtt]

Made best money in a couple months this morning getting in large positions with XTO and CHK and slowly leveling out of them on that rally.

I have given 40% of that back since 1:30 though so I have a lot of work to do.

 

[steveny]

Made best money in a couple months this morning getting in large positions with XTO and CHK and slowly leveling out of them on that rally.

I have given 40% of that back since 1:30 though so I have a lot of work to do.

My leaps are looking good. I would love to see C put on 1 to 2 points in the next 30 days.

 

[SilverStone05]

Me too.

Building positions in MO and NLY.

 

[BATMANs]

Google has been quietly laying off staff since August and up to 10,000 jobs could be on the chopping block. The next day, Google shares (GOOG) hit an all-time low of $257.44 under heavy volume and closed at the lowest level since going public. Also, on the same day Google CEO, Eric Schmidt, told Bloomberg many things but there was no mention of layoffs.

Google filed a paper document with the SEC stating that “a substantial number of temporary workers” had been laid off. The company has sought special exemption to keep the document from circulating on the Web.

The document states that Google has 24,400 employees, however on September 30, 2008 the company reported to the SEC that it had 20,123 employees when in reality it had 30,000. At that time Google did not report the 10,000 temporary employees to the SEC, because Google wanted the option to lay off employees on demand to meeting earning expectations without reporting to the SEC.

Now the company says 4,300 of the 24,400 employees are temporary. So why report temporary employees now and not then? Why get an exemption to keep the documents private?

Further the company reported 30,000 employees on November 24, 2008 and 24,400 on Dec 15, 2008. Where did 6,000 employees disappear to in 3 weeks?

It is bizzare that the biggest web company would seek an exemption to keep public documents about itself off the web. Why the secrecy? Besides, Google knows everything about you. What is Google hiding?

 

[da3dalus]

I'm back trading the spoooooo's for the first time in over a year and a half this week.

I'm doing ok my first week! Wish me luck! :smile:

 

[jond]

Google has been quietly laying off staff since August and up to 10,000 jobs could be on the chopping block. The next day, Google shares (GOOG) hit an all-time low of $257.44 under heavy volume and closed at the lowest level since going public. Also, on the same day Google CEO, Eric Schmidt, told Bloomberg many things but there was no mention of layoffs.

Google filed a paper document with the SEC stating that “a substantial number of temporary workers” had been laid off. The company has sought special exemption to keep the document from circulating on the Web.

The document states that Google has 24,400 employees, however on September 30, 2008 the company reported to the SEC that it had 20,123 employees when in reality it had 30,000. At that time Google did not report the 10,000 temporary employees to the SEC, because Google wanted the option to lay off employees on demand to meeting earning expectations without reporting to the SEC.

Now the company says 4,300 of the 24,400 employees are temporary. So why report temporary employees now and not then? Why get an exemption to keep the documents private?

Further the company reported 30,000 employees on November 24, 2008 and 24,400 on Dec 15, 2008. Where did 6,000 employees disappear to in 3 weeks?

It is bizzare that the biggest web company would seek an exemption to keep public documents about itself off the web. Why the secrecy? Besides, Google knows everything about you. What is Google hiding?

The fact that Google seems to be willing to lie to keep its stock prices up would make we want to stay away from it all together. That's kind of a warning sign for a big blow up down the road.

 

[Dcypher]

The stock market is very intriguing to me. I do not have the time nor the money to buy huge and trade often. However I am happy with the recent week. For the first time I am in the black. This is my only second time at playing around with the market.

The first time I purchased stock from a company in bankruptcy and knew it was a huge gamble. After listening to advice of a friend and not going on the ol gut I lost it all. No worries, I new it was a very risky move.

This time, I have been watching the two companies for a few years. Once prices reached a low that had not been seen since 2004, I took a leap of faith and sunk a little more money into the market. A little more than before, because 1) these companies were not in bankruptcy and 2) I dont feel like these companies can fail (at this point in time). So after a couple of months I am in the black. I plan on holding out for a while longer hopping that the prices will continue their upward trend.

All that said just to say this.... Go market GO!

 

[NSSEX91]

DocJohn,

ZIXI is up from 1.21 to 1.5x and has been steady. Good call although then again everything seems to be up. Zixi has been good at not swaying with the rest of the market as well as Solar stocks like LDK and SPWRA.

USO is almost back down to it's low. I would imagine it will continue to drop tomorrow as well at the same rate about $1 a day

SRS should do well once reality sinks in and banks start eating commercial loans exc.

Buying big before the next rally.

I have no idea how the inaguration will affect stocks. Maybe a small rally?

 

[robr]

I have no idea how the inaguration will affect stocks. Maybe a small rally?

Why would it affect it at all? Any effect would have been felt as soon as Obama won, once he won there are no surprises, I'd think that all effects would already be factored in, unless Obama announces something nobody has heard before.

 

[steveny]

i know nothing about stocks. in the past few months i've been loading up on KMB because everyone says it's the smart thing to do. it is at it's 52 week low right now. should i be dumping even more money into it? is it truly one of the more secure bets out there?

Buy FAS and wait.

 

[sahtt]

Good week for my long term account, took profits on most of my energy holdings. I had the poorest week trading I've had in a long time though. I moved up in size again and the only thing it seemed to magnify was my losses. There's always next week (as long as you still have $$ )

 

[steveny]

Opinions on C?

Nice the way the news was held until after the bell. I am sitting on a stack of options.

 

[RPM217]

Opinions on C?

Nice the way the news was held until after the bell. I am sitting on a stack of options.

Don't complain, I have a crap load of stock, some options that were granted years ago that have much higher exercise prices and don't know who I'll be working for come Monday!!!!

 

[steveny]

Don't complain, I have a crap load of stock, some options that were granted years ago that have much higher exercise prices and don't know who I'll be working for come Monday!!!!

Roger, I thought about you as soon as the news came out. I hope everything pans out for you. I am sure it will as any business always keeps the best talent.

 

[steveny]

Breaking news....Madoff is buying GM with Tarp money.

 

[da3dalus]

Breaking news....Madoff is buying GM with Tarp money.

Thats a joke right steve?

 

[steveny]

Thats a joke right steve?

yep

 

[da3dalus]

Just thought I would cross post my analysis of the P's I made today...

Bringing this back from the dead.

Deadalus, what's your take on ES right now? I'm seeing a gap up at 934 and support at 840 and 820. It looks like we are way oversold right now but I'm not sure if we have one last bounce up before we break the lows or if we crash off the oversold indicators at 820.

I know i've said in this very thread numerous times that I have been expecting a pop to the upside, that it SHOULD retrace its move and come back up. The patterns however are telling a different story as of this moment in time. On the daily chart it had been about 50/50 for which way it was going to break. We had indications of a break to the upside on a H&S pattern, a HH, and those all worked, albeit in small profit terms. However, the upside moves were violated and now we have started to make 1) a break of the most recent low, and 2) the start of a INVERSE H&S pattern.

Basically we have just been quiet, consolidating for the next break. Which is why on a more macro scale we are trading inside of this wedge which has had two tighter wedges within it that both broke, 1 to the upside, and most recently to the downside.... The question is will the downside stop? Right now it looks like we could screw the retracement all together and go low... real low... like new lows.

Keep in mind, the patterns from the Depression that LOOK EXACTLY LIKE THIS DID NOT RETRACE THE MASSIVE MOVE DOWN - IT SIMPLY KEPT GOING!!! Thats what I fear could happen here.

The weekly chart is going to be the telltale one to watch. Right now its looking BAD. Engulfing patterns and the start of what could be a new lower high established, which all points to a new downward move.

As with anything, these predictions are only as good as the data I have before me at this point in time. Lets see where this week ends up and what next week does because that one will be a BIG week on the weekly chart.

Hope this helps!

 

[White98LS]

Jesus... I just saw a post on the Yahoo Finance board for AAPL at 12:30ET saying he just bought 2000 shares @ $86, now it's at about $75 AH after Jobs announced his medical leave. Sucks to lose $20k in 5hrs when not even trading options or using margin...

 

[jond]

Jesus... I just saw a post on the Yahoo Finance board for AAPL at 12:30ET saying he just bought 2000 shares @ $86, now it's at about $75 AH after Jobs announced his medical leave. Sucks to lose $20k in 5hrs when not even trading options or using margin...

I wonder if it makes him mad to know if Apple didn't LIE to shareholders over the last several month, then he wouldn't have lost the money.
Makes you wonder if Apple is still lying about the matter.

 

[steveny]

I am once again getting crushed on these friggen C options. I should have closed the position when I was up 30k. Instead I closed 1/2 of the position today for a 15k loss.

I was buying other stuff today thinking a bounce is near maybe.

Long FAS options for July. Come on OBAMA RALLY!!!

 

[jond]

Come on OBAMA RALLY!!!

What's youguys take on the Obama Rally?

On the one hand I see where he can motivate and inspire the hell out of people. That would indicate a rally.
On the other hand, I see where he's an honest straight shooter, and he might just tell the American people how bad things really are. That could lead to more of a crash.

 

[NSXrunner]

On the other hand, I see where he's an honest straight shooter, and he might just tell the American people how bad things really are. That could lead to more of a crash.

He's been doing that now. Random headlines here and there from him and his people about how things will get worse before they get better. Problem is it's been over shadowed by the middle east, inauguration, american idol's new season, you know...random crap. So it's been a bit hush hush. :wink::tongue::biggrin:

Still though, I'm happy with a kick in the groin and someone telling me its coming. Rather than Bush and his "the economy is strong" crap that was spouted for a few years.

 

[nsxsupra]

What's youguys take on the Obama Rally?

Not sustainable and no more than a good trade opportunity if it happens. You don't want to miss it regardless if your outlook is long term or short term. In order for a rally to be sustainable, the economy needs to show signs of slowing down in deterioration. Once that happens, don't miss the money train.

I saw roughly $60k profit disappeared since last Monday. I always tell myself it is not sustainable, yet I still let myself make stupid mistakes. There was a thought crossed my mind of unloading and locked in the gains last Monday. Unfortunately greed had the upper hand over my common sense.

I hate playing defensive, offensive is so much more fun, but defense is what win games. This round of 6 day streak down term has dramatically improved my decision making and skills. After some more hard learned lessons, I now consider unrealized gains as cost and protect it. I try to stay positive and make most out of the down runs.

I minimized the damage to virtually zero, took light profit, and better positioned myself to better weather down trend or up trend. Unloaded some of my higher cost basis positions.

Here are some of my trades during past 3 sessions, all defensive, terrible, but a gain is a gain even if it is small.

 

[sahtt]

Had all-time best trading today and still chumped a bunch of trades.

Got long some BRK.B at 3003 and sold at 3048.95. Have to play a little big with that bad boy, 10 share minimum. I had a little more than that.

Got long C before the close with 10k shares and sold up 15-19 cents. That one was a little nerve racking.

Here I am loaded up pretty big and then the damn air plane crashed. Then JPM breaks lows. The news is going bezerk with plane crashes, financial collapse, obama curruption, and then JPM breaks lows on heavy* volume and keeps falling. But GE, BAC, and WFC still looked good so I said **** it i'm not getting scared out of this trade if it costs me a g.

I chumped GE earlier in the day by getting scared out only up 12-14 cents on 5k shares and I bought it ONE CENT ABOVE THE DAILY LOW. Almost feels like I lost money from all these chumped trades today. If I held that GE move up to 14 from 12 I'd be looking at NSX's today.