i just had a horrible horrible thought. if you adjust the dow for inflation using 1997 figures we're at about 5000

2/23/2009 2:05:28 PM

eek

[Edited on February 23, 2009 at 2:32 PM. Reason : ]

2/23/2009 2:32:13 PM

Yeah, I've thought about digging up the buy/hold debates I had with some people here that completely trashed me for that. Also contemplating digging up the discussion where I switched from a 2045 fund for my 401k (similar returns as the S&P) when the S&P was at 1213 and people said I was an idiot for that and that they'd average down. I could shove it all back in right now and the S&P would have to go to 400 before their average down would beat my logic.

2/23/2009 2:54:30 PM

BRK.B at $2350... wow. i bought at 2850 a while back and sold at 3100, glad i sold

2/23/2009 3:04:04 PM

holy jesus

2/23/2009 3:47:00 PM

long BAC & SSO just now

2/23/2009 4:00:14 PM

this is what prompted me: http://tinyurl.com/dyhum9

maybe this bloke is trying to pump and dump, but the whole "Obama is NOT a commie" argument resonated with me as i'd been telling people that all along.

2/23/2009 4:02:10 PM

it looks bearish right now still. i can't sign on and say that i can see it to 20.

i really don't think it'll end up being nationalized, but i think that this week is going to be rough for BAC.

2/23/2009 4:09:19 PM

I'm pulling all my money out of the market.

I'm down a shit-ton and don't want it to go down any further. Definitely want to preserve what I HAVE rather than watch it dwindle to nothing.

2/23/2009 5:31:26 PM

Quote :

"BRK.B at $2350... wow. i bought at 2850 a while back and sold at 3100, glad i sold "

screw you. i bought 2 shares at 2750 the other day (had a limit order in), and now it's at 2350. I waited for months for it to get down to that price point, and three days later it drops over 400/share

gg on your move to sell though

2/23/2009 5:50:55 PM

Quote :

"long BAC & SSO just now"

Don't know why you'd buy BAC right now. I have no doubt it will recover in the long term. Nonetheless i don't see it moving up any time soon and you are losing money via opportunity cost. You are better off being in a sector that is not quite as toxic as the financials than buying into BAC when the banking industry recovers.

2/23/2009 5:52:23 PM

its a gamble - i'm hoping it passes the "stress test" and has a bounce in the short term

2/23/2009 6:37:27 PM

Quote :

"I've bought a July 5 put. so My max loss right now is right at $1200, or 50 percent. I'm hoping at the very least I can sell the calls and claw some of that back. It would be nice to sell some March 5s and maybe some April 5s for $1 each, lowering my loss to $600, then, assuming FAS is still in time out, the July 5 put will be worth 3 or so and I can sell it back making my total loss in the 3-400 range. That is about the best I can hope for at this point. Thank god for options."

Not that you guys are following along. But I just noticed they added 6s to the strike for FAS options. Previously I was in July 5s for 2.25. I just sold those for 2.30 and jumped into July 6s for 3.10. So I gain an extra .20 protection on the position considering I got $1 more put price for an additional $.80. I'm underwater a max of $858 at this point. If I only sell April and May calls at around $1, I can get that down to about $250. If the market decides to run back up and I get called away at 6 before the chance to sell any more options, my max loss will be $300. This certainly looks a shit ton better than $1200.

If you haven't considered options yet, study the hell up.

2/24/2009 9:49:36 AM

Course, when I paper trade, I win

Quote :

" ? RMBS 500.00 0.00 0.00 0.00 $1,285.00 $1,010.00 $1,010.00 $2,317.50 $2,317.50 DAYS QTY DELTA DESCRIPTION P/L DAY P/L OPEN MARK MARK CHNG AVG PRICE STK ? +500 500.00 Rambus, Inc. $1,285.00 $1,010.00 9.27 2.57 7.25"

2/24/2009 10:39:34 AM

hoping FAS drops a bit today near the close so i can buy back in

2/24/2009 10:41:50 AM

Is Best Buy (BBY) a good short here

http://www.google.com/finance?q=NYSE:BBY

It seems like over the past quarter, people that might would have normally shopped here would be over at Circuit City looking for deals. Coupled with an overall demand slump, BBY surely can't fare to well in this past quarter. I have no idea what estimates are and what is priced in this thing, but just looking at the Nov 20 lows and where it sits now and considering the market, how can the thing go higher from here?

2/24/2009 10:48:13 AM

In on a bit of a gamble. Bought 2 April 25s puts for 1.95. Hopefully the earnings on March 26 will really punish the stock if it doesn't happen sooner before the time decay kills these puts.

2/24/2009 12:31:37 PM

FAS up almost 18% today - blah blah blah

2/24/2009 1:35:04 PM

Yeah, all it takes is some comments from an official to move it. Which is why trying to trade them seriously just doesn't make any sense.

I suppose you could say the huge drop last week just couldn't continue outside of bankruptcy of the BAC and CIT. But given the government isn't going to let that happen, the only move in the extreme short term for FAS should have been up.

I'm just kicking myself for not buying some FAZ puts that I was eyeing yesterday. They are up more than FAS is up at the moment.

2/24/2009 1:44:51 PM

just got out of BAC & SSO

2/24/2009 1:58:18 PM

Wish I had your luck!

2/24/2009 2:25:45 PM

so who thinks it won't ever go below 7000?

2/24/2009 2:39:28 PM

i've made a Randolph & Mortimer bet with our head finance guy that we won't close a single day below 7000 between now and end of May

2/24/2009 2:46:28 PM

i've made a Randolph & Mortimer bet with our head trash can emptier guy that we won't close a single day below 7000 between now and end of May

2/24/2009 2:50:51 PM

So if you win you get to be the trash emptier?

2/24/2009 3:18:32 PM

lol at Randolph & Mortimer

2/24/2009 4:06:56 PM

haha, I thought for a second about pulling another big chunk of change out of savings to put in either SSO or DDM, but (A) with that last DDM buy-in still unsold, that would start to be enough money tied up in a 2x leveraged fund to make even me nervous, and that's no way to live, and (B) after breaking through all the floors, I was scared that people might flip out and keep sending it down further.

Too bad I didn't do it.

2/24/2009 4:29:30 PM

Not sure if this is the right thread, but any of you financial guys out there, how would I go about taking the series 7 courses and subsequent testing? I've looked up some information, and it appears that you have to be sponsored just to take the series 7 courses? PM me with any info, thanks.

2/24/2009 5:47:36 PM

Smith and Wesson (SWHC) is way the fuck up.

2/24/2009 5:49:04 PM

http://www.youtube.com/watch?v=U6zJ6ds2rqM&feature=related

2/24/2009 6:05:05 PM

2/25/2009 10:24:56 AM

bought some FAS at 4.99 to play with for the day. tight stop loss and limit sell

2/25/2009 11:03:41 AM

woohoo

made $600 and i'm out. that was fun can't trade for 2 more days so i'll take a break.

[Edited on February 25, 2009 at 11:49 AM. Reason : ]

2/25/2009 11:45:00 AM

Whats going on with FCX. Up 1.40 today and there is no news of consequence.

2/25/2009 11:52:37 AM

http://www.copperinvestingnews.com/784/freeport-sees-more-cuts-if-copper-price-declines.html

that was at the open

2/25/2009 11:56:47 AM

Quote :

"It seems like over the past quarter, people that might would have normally shopped here would be over at Circuit City looking for deals. Coupled with an overall demand slump, BBY surely can't fare to well in this past quarter. I have no idea what estimates are and what is priced in this thing, but just looking at the Nov 20 lows and where it sits now and considering the market, how can the thing go higher from here?"

BBY announced price cuts to the PS3 and XBOX titles. Finally, they are starting to tip to get people into the stores and move some product. I'd expect they are really starting to feel the crunch. Just wish I could have grabbed my puts AFTER the rally yesterday instead of before.

2/25/2009 11:56:50 AM

dammit i need 25k to day trade with

2/25/2009 1:06:38 PM

^me too well that and a better credit rating so i can margin trade heh

2/25/2009 1:23:33 PM

i have a margin account, guess i need to just put some more $ in there to do 3 day trades a week with.

would have rebought FAS at 5.00 again and resold now for 5.45 - doh

[Edited on February 25, 2009 at 1:51 PM. Reason : ]

2/25/2009 1:49:17 PM

i thought you could do up to 3 in a 4 day period

2/25/2009 1:55:18 PM

^^^ if you don't have good enough credit to trade on margin, it's the last thing you should be doing, anyway.

2/25/2009 2:04:47 PM

haha past debts that just havent cleared off my credit dont mean i have no money thanks though

2/25/2009 2:19:51 PM

sold a little bit of long held IAU

2/25/2009 2:26:47 PM

just got long a little bit of POT

2/25/2009 4:01:28 PM

sold some fas at 6.20 that I bought at 5.50

2/25/2009 4:09:45 PM

I dumped all my miners and a good portion of gold today. Very bearish signals for gold for the next two or three weeks that it is heading back downward in this chaos.

Long term i still like it but it's gotta pull back first.


Inflation is about to get nasty, I'm not sure how to play inflation the best.... any ideas?

2/25/2009 5:58:13 PM

if you are worried about nasty inflation shouldn't you be investing in real estate?

2/25/2009 6:06:46 PM

^^ You mean negative inflation is going to get nasty?

2/25/2009 6:52:06 PM

Anyone got the balls to fade the gap today?

2/26/2009 8:45:43 AM

bought FAZ with a tight stop mkt

2/26/2009 9:46:07 AM