How 'bout that stock market?

[steveny]

I see a lot of people exiting from trades that were working. My appl was down 9 friggen bucks today. I uncovered it towards the end of the day. If we get a pop it's gone or deep ITM calls. Not sure which one yet.

Just got done doing the math. Up $4874.24 :biggrin:

Losses left on the table........35,611.48 not including the losses already taken on LEH eairlier in the week and last week. Still up on the year but no where near where I was :frown:

If LEH gets back to $37.19 a share it will wipe out all my losses on this last batch of LEH. :biggrin:

Really not in too bad of shape at this point with calls I have offset CB's In my trading account on....

AAPL 149.23
AIG 30.95
AMR 4.81
AXP 39.40
C 19.22
DRYS 83.68
EXM 43.83
F 5.89
FITB 19.72 puts me out at even on the position Whats left I bought at 13.8
HD 24.71
MTL 52.39
XHB 17.86
LEH 37.19 puts me out at even but what I have left I bought at 25.72

Then various calls and Leaps.

 

[Ryanmcd2]

I see a lot of people exiting from trades that were working. My appl was down 9 friggen bucks today. I uncovered it towards the end of the day. If we get a pop it's gone or deep ITM calls. Not sure which one yet.

Just got done doing the math. Up $4874.24 :biggrin:

Losses left on the table........35,611.48 not including the losses already taken on LEH eairlier in the week and last week. Still up on the year but no where near where I was :frown:

If LEH gets back to $37.19 a share it will wipe out all my losses on this last batch of LEH. :biggrin:

Really not in too bad of shape at this point with calls I have offset CB's In my trading account on....

AAPL 149.23
AIG 30.95
AMR 4.81
AXP 39.40
C 19.22
DRYS 83.68
EXM 43.83
F 5.89
FITB 19.72 puts me out at even on the position Whats left I bought at 13.8
HD 24.71
MTL 52.39
XHB 17.86
LEH 37.19 puts me out at even but what I have left I bought at 25.72

Then various calls and Leaps.

If you cover your trades with options you will be okay 95% of the time, it's when you go unhedged you get screwed lol. That is as long as the market is moving

 

[Ryanmcd2]

Let the fun begin...limit hit for GBP/USD at 1.9885 and EUR/USD at 1.5759. Both short. 25 pt stop on both.

lol could not resist could you I hope it pulls back here but again when we talked on the phone resistance is up just a little more. So what are your profit targets?

 

[ALSWEL]

Well, I made 5 points when my stop hit on the GBP...and the EUR is up 24 points (1.5733) at this time. 1.5715 is profit target for a total of 45 points (not gonna happen). Starting to think the trend is going to continue on both, like you said 8 hours ago. I'll still take 15 points minimum on the EUR, so a total of +20 on these two and +140 for the day. Going to sleep till 5am when I'll check it out for tomorrows setups.

 

[Tony Montoya]

BA and Citi are paying CNBC to not say bad things about them. It's working but they must be desperate for deposits to advertise on CNBC.

 

[Tony Montoya]

Is that adjusted for inflation and any splits (if there have been any)? Otherwise it's worth far less today than in 1955.

It was a confusing story as GM split 3 for 1 in 1955 and 11 dollars then is worth 80 some dollars today. Too little info for me to know how bad GM stock is today.

Must be bad enough to almost merge with FORD.

 

[SilverStone05]

Giving back huge gains.

 

[steveny]

BA and Citi are paying CNBC to not say bad things about them. It's working but they must be desperate for deposits to advertise on CNBC.

I love the way cnbc only reports what they want and the anchors talk over top of anyone who doesn't agree with them. Dillion is the worst of the interrupters.

I think it was C that put out a buy recommendation on LEH and a 50 price target, where the hell is that on the news. They were sure to blast GS reports yesterday.

A great purging of wealth on the down fall and there will be a great purging on the turn around as people who don't know a damn thing about investing are talking about how they are short at their tea parties. No different then the dot com tea parties but in the other direction.

 

[steveny]

Giving back huge gains.

Yes, I have given back 25k on aapl in the last two days.

 

[sahtt]

I picked up some GG back around 11,7 before it was obvious which way the market would turn. It's up 11-12% but I didn't get enough of it to act as a good hedge so I picked up some QID. I chose the QID against SKF, SRS, and a few others. SKF is at all time highs, SRS is less market oriented, and if you chart the QID, Nasdaq, and DJI it looks like the QID has the most potential from continued market deteoriation. The Nasdaq also has a tendency to overshoot the dow then come crashing down, right now it's still above the dow with plenty of 'crashing' still on the table if the market dictates further losses. My basis for C is in the mid 18's but I better not complain around you guys, I only have 50% of the position but decided to wait until next week to add to it.

 

[steveny]

I picked up some GG back around 11,7 before it was obvious which way the market would turn. It's up 11-12% but I didn't get enough of it to act as a good hedge so I picked up some QID. I chose the QID against SKF, SRS, and a few others. SKF is at all time highs, SRS is less market oriented, and if you chart the QID, Nasdaq, and DJI it looks like the QID has the most potential from continued market deteoriation. The Nasdaq also has a tendency to overshoot the dow then come crashing down, right now it's still above the dow with plenty of 'crashing' still on the table if the market dictates further losses. My basis for C is in the mid 18's but I better not complain around you guys, I only have 50% of the position but decided to wait until next week to add to it.

I think C is a great bargain down here. It also looks like the heads have stopped with the gloom and doom to the point where they are saying they are not so gloom and doom anymore. Lot's of positive comments on the tube today. Hope it's not JPM coming back from the grave trying to prop the market up. When it appears to be obvious which way the market is going set yourself up in the opposite direction. When the market was flying 6 months ago is when someone should have got short. When the market is getting pounded especially to these level you need to get long and then........wait!!

 

[RPM217]

With yesterday's action it was pretty obvious that there would be no "end of the quarter window dressing", instead it would be to get out of and off the books whatever would look bad, not sure what direction Monday will bring, kind of depends on the direction of oil. Once we're out of June look for a bounce. The fact that we're making lower lows means you should be cautious. For those of you who are not "traders" look to buy good solid companies with strong balance sheets, good cash flows and dividends that are secure. Look at the companies that continue to increase their dividends. Many good, no make that great companies are on sale, they may get cheaper but if they pay good dividends you'll be paid while you wait!

 

[steveny]

1000+ PE

http://finance.yahoo.com/q?s=vocs

 

[steveny]

http://www.reuters.com/article/marketsNews/idINL2927327220080629?rpc=44

 

[sahtt]

They rarely tell the whole story. If I'm not mistaken, the 7.5bn purchase, for example, came with a guaranteed 11% dividend payment. Not a bad deal IMO.

I don't know what the hell that 1011 P/E firm actually does or what justifies that P/E but obviously someone believes their story. Reminds me of salesforce.com.

 

[steveny]

They rarely tell the whole story. If I'm not mistaken, the 7.5bn purchase, for example, came with a guaranteed 11% dividend payment. Not a bad deal IMO.

I don't know what the hell that 1011 P/E firm actually does or what justifies that P/E but obviously someone believes their story. Reminds me of salesforce.com.

HA salrsforce was the other one I was looking at PE=788

 

[da3dalus]

Traded REALLY well today... Technically i should've gotten more than par out of my first trade (should've pocketed about 70 bucks) but it was by the rules, second trade was also textbook. Kept myself out of lots of glorious crap. Saw the entire picture, read the market correctly. Very happy with the results.

Cheers!

 

[sahtt]

I'm liking CME at these levels again as well. I'm flat for the day but it wasn't without a lot of planning.

 

[steveny]

Man that HYGS is just flyin' I would have never bought a stock under 5 bucks but I threw the dice on 3,000 shares and I am up over 80%

Too bad I didn't buy as much of the HYGS as I bought of C and LEH. :frown:

 

[Ryanmcd2]

Looking at eur/chf @ 1:00pm est for a long if it holds.

 

[Ryanmcd2]

Long eur/chf @ 1.6095
Limit order in for aud/usd if it goes up some more.

 

[sahtt]

Glad I waited for more indicators on CME. I'll be laying off that one for a while. Another flat day with GG giving me a little green.

 

[Ryanmcd2]

Long eur/chf @ 1.6095
Limit order in for aud/usd if it goes up some more.

Long aud/usd @ .9558 - good news @ 9:30 est gave me a nice pop

 

[Ryanmcd2]

Out of 1/2 aud/usd @ .9616, Stop @ cost. TP on the rest is .9674

Still long on eur/chf


Looking at getting short on the eur/usd

 

[steveny]

Blockbuster bails on CC afterhours, and CC is crushed. Sometimes a loss is actually a winner. :smile:

Volatility and volume should be pretty high on CC tomorrow; I'll be looking to scalp back my earlier $800 loss, plus a penalty fee.

while you are in there... if you see any of my money grab it for me.