sold a bunch of stuff yesterday...too early it seems. oh well

5/15/2009 10:58:31 AM

out FAZ at 5.85 ... probably should have only sold half ... but Im still learning. Hoping we come back and hit the vwap on xlf at 11.75 again and will probably pick up some more.

5/15/2009 12:17:29 PM

Bought one share of BRK/B.

5/15/2009 2:26:08 PM

Any thoughts on LUK?

5/15/2009 4:10:52 PM

^^likewise. going to the shareholder meeting next spring?

5/17/2009 2:20:22 PM

this may be old, but http://www.freestockcharts.com/ has awesome free real time charts, its the only site i can find that has vwap indicator too

5/17/2009 3:00:47 PM

FAZ should see the beginning of a good run this week, or not

5/17/2009 3:35:48 PM

Quote :

"or not"

5/18/2009 8:47:55 AM

whenever FAZ seems like a sure thing, it turns out to be the opposite
but i still think it turns around before the day is over

5/18/2009 8:54:04 AM

i sold 50% of all the stock i owned a few weeks back. it was all free to me, so i would have made money either way. but if i'd sold during the panic, i would have made like almost 1/5 what i did. im glad i didnt freak out, i'm buying an xbox

5/18/2009 8:54:12 AM

the stuff i sold Thursday might've been to early, but noone ever went broke taking profits
[/rationalization]

just glad i still have some long held EDC

5/18/2009 9:55:50 AM

^^^ The problem is, even though the markets have calmed down quite a lot, it still doesn't take much more than a news item to move it a decent amount, the 3x's even more so. It's why I've all but given up on them other than buying right at the close on big (greater than 10%, like it to be more like 15-20) down days and selling either in the premarket or at the open. I've done this 3 times in the past couple weeks and it has worked every time - not to say it will keep on working. But when all it takes is a news item saying Buffett is buying banks to crush your seemingly correct play (ie, pull back on this junk rally), I don't like those odds.

5/18/2009 10:11:13 AM

^^that's correct.

buy when you're thinking "aww man, can it go any lower?" and sell when you're thinking "i wish i had invested more X weeks ago"

5/18/2009 10:14:47 AM

To FAZ or not to FAZ...

5/18/2009 3:48:32 PM

You'll make 5% or so by buying it now after hours and selling it premarket or at the open tomorrow.

5/18/2009 4:06:30 PM

I barely got in 10 seconds before the close at 4.81. There was quite a bit of price fluctuation during those last trading moments.

5/18/2009 4:08:53 PM

Yeah, I can trade after hours and these highly illiquid securities have relatively tight b/a even then, so I just wait for it to close and then get an order in at that level. I grabbed 500 shares at 4.82. Expect to be able to sell around 5 tomorrow before the open.

5/18/2009 4:13:42 PM

Today was a very tempting day to sell what I consider as my long term stocks....but I did not give in to my temptations....I hope I did the right thing....

[Edited on May 18, 2009 at 5:57 PM. Reason : p]

5/18/2009 5:56:54 PM

No one knows man. The market can just as easily pull back to 850 as it could go to 950 or higher. What you need to do here is not fall in love with a stock, not stick out a losing trade, and don't get greedy.

5/18/2009 9:16:08 PM

We still havent made it to the 940 level Ive been waiting for, I think we rally to that point which will basically be a double top and then may look for a bit of a bigger leg down. If we push past 940 significantly the dow will go above 10k this year.

5/18/2009 11:32:55 PM

I could feel it in my bones yesterday when I bought this FAZ that the streak of buy at the close on big down moves and sell in premarket or the open would be broken.

5/19/2009 6:37:36 AM

Looks like FAZ is trying to rise right now

5/19/2009 8:35:48 AM

Yeah, fuck me, after it stayed sluggish up until 8:30, I went ahead and sold out of it at 8.65. I just noticed it touched 4.90 briefly. God damnit.

5/19/2009 8:42:06 AM

My strategy was to buy more of them if it went any lower to cover my loss. That's why I didn't sell them earlier this morning.

5/19/2009 8:46:51 AM

Do not dollar cost average with a 3x stock based on financials. What if you bought at 50 after it had come down from 100 thinking there is just no way this thing will go lower. And then you DCA'd after the drop to 40, thinking you were holding at 45 and a 10% loss isn't as bad as 20%, and it has to go back up.

Just don't do it.

The housing start and permit data came in sluggish which is why they popped a little. Ultimately, this is a good thing for the economy as the housing inventory has to clear. I think we end higher today, but I don't know a whole lot.

Edit:
rofl, I'm in PCX which isn't very liquid (compared to FAS/FAZ) so the bid/ask in premarket is pretty erratic. It trade at 8.97 just before the housing data, a second ago the bid/ask was 8.65/8.64 (you read that right) and then when some poor shmoe sold out at 8.64 the ask immediately jumped to 8.84.



[Edited on May 19, 2009 at 8:56 AM. Reason : .]

5/19/2009 8:49:09 AM

Really hate leaving money on the table.

5/19/2009 9:56:03 AM

Out of FAZ at 4.89, trailing stop sell executed

5/19/2009 10:08:06 AM

I bought into NSMG's pump and dump two years ago and never sold, looks like I might finally get my money back.

5/19/2009 12:19:25 PM

I've been trading intra day for the past few weeks and I always wait for my funds to settle. What happens if I don't?

5/20/2009 11:26:02 AM

You can buy again before your funds settle but if you then sell before they settle its some sort of federal violation, I think it's called a free ride, or something, and you could get a visit from the feds for doing it.

5/20/2009 11:42:05 AM

^ Good to know, thanks

5/20/2009 11:44:25 AM

Whew, I speculated on FAS early in the day, bought it at 10.20 with an initial stop at 9.90. When it looked like it was going to stay in the 10.30-.40 range, I tightened the stop to 10.10. Went away to water my garden and other stuff, come back and my stop was already triggered and it looks like it's going to close under 9 today. Stops, oh how I love thee.

5/20/2009 3:32:22 PM

Anyone want to split a trading service with me? It's fairly pricey at $250 a month (I'll get it for $200) but every time this guy gives nuggets/hints of info in his emails that he sends out to the report members (which I am, which is supposed to cost $50 a month but I have it free on referral) I either make money or would have made money.

About 2:30 today he sent out some commentary on the FOMC minutes and there was one line in there that said this:

Quote :

" the DJIA can be re-shorted so why mess around? "

I immediately had a look at June 85 puts which were trading at 2.32. I thought about it for 30 seconds on 5-10 contracts worth of these but I had a pretty shitty morning taking small losses on failed trades (suggested by another most less experienced guy giving a trial of his low cost service) and have been pretty discouraged and just closed the my trading windows and did some schoolwork for awhile. I just checked and the June 85s closed at 2.85. I would have made $500 on his advice. I've been following him awhile and he seems to be solid as hell. He hedges and makes a lot of low risk nimble moves and just seems to be making a killing in this market. I may just spend the $200 for a month (starting right after the holiday weekend) on my on as a trial to see if his service is what I think it to be. But if someone wanted to split it with me I'll give you the login so you can get all the service and I'll set up my email to forward to you to get his email updates.

[Edited on May 20, 2009 at 4:11 PM. Reason : .]

5/20/2009 4:08:36 PM

My first actualy day trade today got in HEB at 1.47 and sold at 1.90 like an hour and a half later. If only I could pull that off every day Id be golden haha

5/20/2009 5:01:55 PM

Picked up some FAZ at 5.55 this morning looking to exit at 6 or so hopefully

5/21/2009 8:57:17 AM

I'd get the hell out of the way before the 10am news.

5/21/2009 9:09:41 AM

Well its already at 5.70 so easy to just set a stop at break even and see what happens

5/21/2009 9:12:36 AM

Hope you put that stop in.

5/21/2009 10:08:11 AM

Yep sucks I burned a day trade on it but no harm done, well at least on that stock as for some of my others this morning...

5/21/2009 10:11:08 AM

Those 85 puts I was looking at for 2.32 yesterday are going for 3.50. I most likely would have sold yesterday at 2.85, but this just gives me more reason to have a $200 gamble on this guy I'd like to subscribe to.

Any takers?

This is what he had to say in an email update just now:

Quote :

"Don't forget Rule #1 (and there are only 2) at ___is: "ALWAYS sell into the initial excitement", which means we should be lightening up into the morning sell-off on our puts and, as I said above, I'm looking to get 100% out today so tight stops all around as any smart bear will take this money and run and enjoy the long weekend. All the indexes are pausing at -1.5% now and may bounce to -1.25% without turning bullish but once that line falls (and the Nas is already over) it's time to get on the sidelines. So keep an eye on QQQQ 34 as a sign of recovery as well as XLF $11.50 for sign of failure (now $11.60) but holding $11.50 means there's not much gas left in the sell-off. "

[Edited on May 21, 2009 at 10:19 AM. Reason : .]

5/21/2009 10:16:19 AM

its not good when you measure your daily success by how little money you lost

5/21/2009 10:28:01 AM

I'm feeling the same way, this morning I was down over a grand, now its more like 400 so all of a sudden it doesn't seem like such a bad day lol

5/21/2009 3:29:56 PM

This chop is simply not for the average trader and I'm feeling fantastic that I didn't give a shit about the market today. I think we are going to be stuck in this range for awhile because no one wants to miss another 20% move up, but everyone is still afraid that another 10-20% move down is lurking for unknown reasons. The easy money from late 08 and the first part of this year has been made. Even tech analysis is breaking down because none of the signals are strong enough or meaningful enough.

5/21/2009 4:04:19 PM

^ I've been that way for a week and half, save a few quickies in and out of EDC.

also, picked up some FEED @ 5.00 even. i'm thinking if it breaks past 5 and a quarter, its going to 10

5/22/2009 1:35:57 PM

^ Why do you say that about FEED? I've been in and out of it for months now, along with YGE, but I don't see any huge gains in their futures like you are talking about

5/22/2009 5:26:22 PM

ride the momentum

5/22/2009 8:01:13 PM

^^ just my amateur opinion derived from looking at the chart

5/26/2009 9:45:45 AM

^ well, looks like I should have taken your advise... :p

I'm not losing money, but I've been profit taking almost every day and missing out on big gains on almost everything...

5/26/2009 10:46:45 AM

one has to figure out one's own trading style. in general for me, being long too early has worked out ok, but being short too early has cost me my lunch. its taught me that i'm an amateur, and i'm ok with that, as i don't see becoming a pro trader any time soon: know thyself.

and know the terrain: macro-forces are stronger than any one of us.

staring at FEED's chart some more, its going to see ressistance once it gets a 7 handle and holds it for a few trading sessions. we break past that and go 8+, then we're looking at 10.

time will tell. pimpin tradin aint easy..

5/26/2009 1:34:59 PM

set em up

5/26/2009 2:17:19 PM