Stock Market

Going long for 6 months is a gamble IMO, so do your own dd and you'll come up with the right decision.
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I know its a gamble, and I am prepared for the stock to drop, but I think they have a good chance of reaching $1.00ish once a few things fall into place (won't get into boring detail here) I was just wondering if anyone had opinions on the stock that had been following it...

As far as options go, I don't feel educated enough to make good picks, but I am in teh process of learning.
 
Re: reading list

Read the B-Williams a few times and learn what he is talking about. Also from here find out HOW and what you like then dig deeper. I know ALL of the indicators and let me know what you like and I can tell you some good books about that.



lemansnsx said:
Here's what I have picked up recently:

"New Trading Dimensions" Bill Williams
"Trading Chaos" Bill Williams
"Study Guide for Technical Analysis of the Financial Markets" John Murphy

Anyone have any other recommendations?
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I always hated options, they are a wasting asset. :D


steveny said:
if you are looking to buy stuff in that range why not do options on good companies.

Not a recommendation to buy just an example:

Imcl Jan 40's had a range of .45-1.60 on 1/8
A $450 placement would net 1150 in profit in one day
gern Jan 10's had a range of .45-1.10 last week.
$450 returns 650 profit.

*****options are risky******but then again so is walking to the mailbox.
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Look at what you are saying? You already lost on this trade. You cannot say what the hell and I know it's going to go down and I am going to loose money. You need to come up with a plan and follow that plan, if you don't follow the plan kill the trade. It's like saying I am going to the track this weekend and I think I will hit the wall but oh well. Psychology is about 80% of this game.



Jinkers said:
I know its a gamble, and I am prepared for the stock to drop,
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Jinkers said:
Since the thread is entitled stock market (although it has turned into a futures trading discussion), does anyone have an opinion on going long on GLBT for say 6 months?
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I dont think the guys in this thread trade penny stock very much. I actually traded GLBT a few times recently. I got in at about .06 and sold at .17. I bought back at .158 and sold again at 17.2 just before the 'conference call' the other day. The thing has dropped like a brick since, glad I got out! I think investors were hoping to hear about the next big deal in the call and were unhappy with the talkings. I don't think it sounded bad, just no news of a huge deal. To hold this long for 6 months is a tough call ; especially since they haven't released their 4th quarter filings yet. I think, again, this will be a gamble like the conference call. Either get in or out before their 4th quarter filings are released..I believe they have to within 90 days. I don't know if I like the fact their latest 2 'contracts' are in Libya and Cuba, but the company is taking risks so....... Also realize that their 3 'consultants' from Italy received a TON of stocks as a bonus and can dilute the market at any time. (I think they got 900 Million shares total!) I don't think there is enough solid revenue producting contracts yet to make a final long-term decision. They, along with GTEL, is pretty much just hype, and GTEL has been getting wacked lately. Glad I got out of that one along with IBZT.

For short recent term, we got leaked a story about USXP getting a big deal with Safeway foods. Be forewarned, this company sucks! None of their other deals have really gone anywhere. This is the classic pump-n-dumper stock. They are definetly shady, and I would never recommend them as a decent stock, but their price has been pretty solid (as far as OTC stocks go), and they closed up big % in the last few days to confirm a possible leak. Everyone is expecting some news on Monday....roll the dice if you want! :) I'm only expecting my boss's source is 'legit', can't gaurentee anything of course.
 
For those that were interested in the Bill Williams' Trading Chaos book, there is a new version of trading chaos coming out this year in february. Check amazon and you'll see it.
 
I did not know that, I know that Bill handed over the training to his daughter.


dgp said:
For those that were interested in the Bill Williams' Trading Chaos book, there is a new version of trading chaos coming out this year in february. Check amazon and you'll see it.
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I just am not that good at them, I was playing in 10's and bought 10 then I went to sell them and bought 10 more, lol then I sold 20 and I ate the spread. I just know options are high leverage and I don't like to mess with them because I don't know them that well. I know people that do spreads and sell covered call but I know what I am doing with what I do. :D


O-Ace said:
Then sell em and cover when they're wasted :D

-awais
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Psycnosis said:
Look at what you are saying? You already lost on this trade. You cannot say what the hell and I know it's going to go down and I am going to loose money. You need to come up with a plan and follow that plan, if you don't follow the plan kill the trade. It's like saying I am going to the track this weekend and I think I will hit the wall but oh well. Psychology is about 80% of this game.
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that is very profound! Excellent advice!
 
true said:
this company sucks! None of their other deals have really gone anywhere. This is the classic pump-n-dumper stock. They are definetly shady, and I would never recommend them as a decent stock,
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This statement holds true for 99% of penny stocks IMO.
 
O-Ace said:
Then sell em and cover when they're wasted :D

-awais
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Made 8% on my IRA this month doing just that. Made another 9.6% on 1/2 the money in my tradeing account doing the same. In my trading acconut I use 1/2 the CC proceeds to buy risky calls with free money. Sometimes they pay off big.
 
You guys in your options, I flip too damn fast and the spread on a call or put kills me. But everyone says "Futures are high risk" then I ask have you ever traded futures? The answer is ALWAYS NO, then I say "That's why it's high risk" lol :D


steveny said:
Made 8% on my IRA this month doing just that. Made another 9.6% on 1/2 the money in my tradeing account doing the same. In my trading acconut I use 1/2 the CC proceeds to buy risky calls with free money. Sometimes they pay off big.
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Look at what you are saying? You already lost on this trade. You cannot say what the hell and I know it's going to go down and I am going to loose money. You need to come up with a plan and follow that plan, if you don't follow the plan kill the trade. It's like saying I am going to the track this weekend and I think I will hit the wall but oh well. Psychology is about 80% of this game.
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True...but in my defense I said I was prepared for it to go down, not that I expected it to.
 
Need to prepare for it to go up, and if it does not you already have your stop in and your target in place right? The BIGGEST thing that saves my ass day after day is I put in stops FAST, and yes I do get stopped out a lot but if I were to go back on 80% of the time when I got stopped the trade would of went against me. Stops and where you want to get out are BIGGER then where you got in it. I am KING at saving a shitty trade because I used to have so many :D



Jinkers said:
True...but in my defense I said I was prepared for it to go down, not that I expected it to.
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Psycnosis said:
Bottom picker :D
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Currently the underlying is at 38.97 a share. They report earnings tomorrow. Last time they reported earnings they fell huge. If they fall the same this time, and I think there is a good chance, the 35 puts will be much higher than .15 cents. Last time the .15 cents puts went to 5 bucks. I am thinking I will buy 10 tomorrow, the most I can lose is 150 bucks so its worth a shot. Open interest is 7k+ so others may be thinking the same.
 
Yep it's the longs hedging lol. You know how it goes. Anyway I hope your "Cash 3" works out. $150 is nothing and the risk to reward is there.


steveny said:
Currently the underlying is at 38.97 a share. They report earnings tomorrow. Last time they reported earnings they fell huge. If they fall the same this time, and I think there is a good chance, the 35 puts will be much higher than .15 cents. Last time the .15 cents puts went to 5 bucks. I am thinking I will buy 10 tomorrow, the most I can lose is 150 bucks so its worth a shot. Open interest is 7k+ so others may be thinking the same.
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Options expiration tomorrow. I think I'm just gonna take the day off. Steve, hope those option plays are working out for you :)

-awais
 
O-Ace said:
Options expiration tomorrow. I think I'm just gonna take the day off. Steve, hope those option plays are working out for you :)

-awais
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I did very well with the CC's this month. Threw away 150 bucks on the long shot puts though. It was worth a try. I need to do some research and find the next 5-10% play for next month. I have been slacking off lately.
 
Today was easy in the ES land. Most days are easy. Short then a long. 5+ easy today.

steveny said:
I did very well with the CC's this month. Threw away 150 bucks on the long shot puts though. It was worth a try. I need to do some research and find the next 5-10% play for next month. I have been slacking off lately.
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