This computer sucks way too much for good porn viewing

1/19/2009 9:41:39 AM

at least there is always tomorrow

1/19/2009 5:23:47 PM

Yes, you are perfectly capable of losing money tomorrow as you could have today had the markets been open.

1/19/2009 8:27:37 PM

so far this year I have made money so im not complaining and I dont forsee my plan to cause any losses anytime soon

1/20/2009 8:26:59 AM

holy shit FINANCIALS down over 5% lol!

1/20/2009 9:48:12 AM

Caught 150 shares of FAS at 10.15. Probably stop out at 9.15 or so if the market looks like it is going to accelerate down.

[Edited on January 20, 2009 at 9:59 AM. Reason : .]

1/20/2009 9:58:51 AM

FAS has completely devastated my trading account

I refuse to sell it for a loss, so I guess I will be holding it for a really long time now

1/20/2009 10:43:46 AM

^ True. Got out of FAZ and into this FAS waayyy too early

1/20/2009 11:08:05 AM

^^ I don't think anyone likes taking a gamble and having to sell for a loss, but I've accepted that some of the time it will return after those big dips, given you nice profits, and other days, it just won't.

I got in at 10.15, but it really looks like the market is going to seek out a new low today so I went ahead and placed a stop loss at 9.50. It nearly touched. I'm keeping an eye on it, and if it returns to anything profitable I'll probably take the opportunity to get out at breakeven. With my luck, soon after that we'll get a powerful rally and I'll miss what could have been a nice gain. But I find myself more sane knowing I avoided a big loss and being stuck in a position than missing a big gain, so that is the way I trade.

1/20/2009 1:16:14 PM

Got stopped out.

1/20/2009 1:53:01 PM

still waiting to get into FAS, going to buy here soon and hold til i gain 100%

1/20/2009 1:56:51 PM

Financials down 9% - FAS at $8.37

1/20/2009 3:07:29 PM

Fuck. I bought into FAZ around $80 and sold it thinking that it would never go that high again.

Always bet against me and you'll usually win.

1/20/2009 3:11:10 PM

bought into FAS at 8.26
stop mkt at 6.89

1/20/2009 3:24:36 PM

I bought some at $8.17 and sold Feb 7.50 calls for $2.85 each.

1/20/2009 3:26:36 PM

Can you explain that strategy again? Essentially, if the stock really runs up from where you got it, someone will most likely exercise the options and you'll have to sell to them at 7.50, right?

So you lose 8.17-7.50 but you gain the 2.85 premium.

If they drop below 7.50, it won't be exercised, but you'll still be profiting all the way to 5.25 (disregarding commission).

Did I remember reading at some point you can actually buy your call back and then sell the stock yourself?

1/20/2009 3:49:20 PM

I'm basically making $2.18 per share right now. If it gets called away thats fine, I keep my cash. If it drops below $7.50 my cost per share has already been lowered to $5.32 and I can sell March calls at either $5 or $7.50 depending on what I want to do.

I can buy to close the call at any point prior to expiration. The two factors that set the option premium are proximity to strike price and proximity to strike date. Even if the stock holds steady at $8.17 until the strike date, the premium will decrease. On the Friday that calls expire the value will only reflect the difference between strike price and stock price - $0.67. So I could buy to close and keep both the stock and the $2.18 per share.

On the other hand the stock could take a big hit and drop closer to the strike price, thus decreasing the premium. If a stock takes too much of a hit you don't have to worry about it as it might not even approach the strike price by expiration. However, you can often time it right and buy and sell the same option several times before it expires. I've done pretty well doing that with the leveraged ETFs over the past several months.

The downside is that FAS could skyrocket to $texas per share, and I would only get $7.50 per share and the $2.85 per share. As the stock price climbs so does the premium, so I would actually be losing as much as I would be gaining by buying to close it.

1/20/2009 4:19:45 PM

^^ We're going much lower from here. Stock prices are based on current earnings and expected future earnings.

Right now these companies have massive losses and people are starting to realize they have no short to medium term expected earnings either.

1/20/2009 5:13:09 PM

I am considering selling my stocks and buying this:

1/20/2009 5:24:51 PM

The Dow to Gold Ratio is still about 9.5 to 1.

I'd be willing to bet we see 7 to 1 in the very nearterm.

Some think it will go to 1:1


Realize that it was 30 : 1 a few years ago.

1/20/2009 5:32:55 PM

Obama's first day and the market tanks, damnit I thought he was supposed to be our savior! lol

1/21/2009 8:59:41 AM

How do you guys avoid pattern day trade restrictions? It's annoying as fuck. I'd like to go ahead and bump my account to the 25k required but then it becomes a little bit of a hastle to move it back if I need some of it.

1/21/2009 9:14:02 AM

you get 3 day trades per 5 days. i haven't had an issue with that. if you hold it 3 days you'll get the funds back immediately upon sale.

1/21/2009 10:31:33 AM

thanks to FAS (so far) i'm EVEN on my IRA account overall, finally.

my individual trading account, well, that is still down about 30%

1/21/2009 2:57:26 PM

Got into some FAS this morning. Dropped, but came back strong. I am holding this for a little bit longer play.

1/21/2009 4:00:53 PM

i'll continue to raise my stop markets on it until it tanks.

IRA now up 10%


my goal is to offset '08 losses by mid Feb. here's to hopes and dreams

[Edited on January 21, 2009 at 4:22 PM. Reason : ]

1/21/2009 4:20:45 PM

^exactly,

Forgot to mention I got in at 8.59. Was depressing watching it drop down below 8 again this morning, but I figured that I better hold. This could be a nice bounce. Might pick up a little more tomorrow once some cash clears

[Edited on January 21, 2009 at 4:22 PM. Reason : mkl]

1/21/2009 4:22:26 PM

Bear market rally we go lower from here don't fall for the noise

1/21/2009 4:27:36 PM

bought a bunch of AAPL at 81 yesterday on a hunch. seems to have worked.

FAS was up after the bell yesterday another $0.50, but i'm showing it down about $0.40 in pre-market. i know that means horse shit, so we'll see what happens in the first few minutes of trading.

1/22/2009 8:26:10 AM

Yeah looks like we may be headed back down my guess is we end the day around the 8100 area. There are a few stocks in my portfolio I generally look at in the morning and how they are doing pre market usually indicates how the day is gonna go. Doesnt work every time but more often than not its a good bet.

1/22/2009 9:18:02 AM

FAS at 8.60 - bummer - didn't have it for 3 days in IRA so didn't want to sell last night - thought i'd get another day out of it

1/22/2009 9:33:38 AM

what's everyone's plays right now? been quiet

1/22/2009 2:12:46 PM

spectatoring

1/22/2009 2:13:54 PM

i didn't trade for about 3 weeks and have just done FAS past couple of days - it's funny how up and down everything still is - means it will go back down soon enough, gotta be ready then.

1/22/2009 2:17:22 PM

^^^ just waiting for SSO to go back up, so I can sell...so I can wait for it to crash again, etc.

as far as "for keeps" plays, thinking about Berkshire Hathaway (BRK/B) and Fortune Brands (FO). Probably also oughta take another look at Cisco Systems (CSCO).

[Edited on January 22, 2009 at 2:40 PM. Reason : asdfasd]

[Edited on January 22, 2009 at 2:47 PM. Reason : and reeealllly hoping the bottom doesn't fall out again ]

[Edited on January 22, 2009 at 2:47 PM. Reason : at least until I sell SSO again]

1/22/2009 2:37:30 PM

I took 50 shares of FAZ at 59.93. Looking to snipe a quick trade to eliminate the loss I took on FAS on Tuesday.

1/22/2009 2:49:50 PM

.50 trailing stop setat about 66


...and out at 65.53. Fucking finally - I got in on the right side of momentum.

[Edited on January 22, 2009 at 3:09 PM. Reason : .]

1/22/2009 3:07:39 PM

BIDU @ 112

1/22/2009 4:52:22 PM

GE announces 4th quarter profits fall by 44%.

In other news, I'm going to go broke.

1/23/2009 9:41:47 AM

anyone else think we could be at 7000 within a month or two?

1/23/2009 10:55:30 AM

i want the market to continue to go down until brk.b gets to 2500 so i can buy my 4 shares. then i want it to go up

1/23/2009 10:58:47 AM

I dont think it will go below 7000, the bottom was achieved around 7500, might come close to testing.

1/23/2009 11:10:16 AM

The day of reckoning is getting closer GLD is up seven percent this week alone. The treasury bill has started it's collapse look at Tbt. Get out or face a peril that will make the 70's devastation look like a joy ride. We are going lower folks next stop 6500

[Edited on January 23, 2009 at 12:20 PM. Reason : A]

1/23/2009 12:19:07 PM

And this is why one of my largest holdings is AUY, it hedges the rest of my shit pretty well, if it peaks at 8 again and starts to swing down ill likely sell off all profitable shares and get back in lower again.

1/23/2009 4:51:16 PM

oh wow, apparently the wash sale doesn't mean shit as long as i got bought/sold all of that stock by dec 31 2008 - which i did.


http://www.fairmark.com/capgain/wash/ws101.htm - under Consequences of a Wash Sale






on another note, can you write off short-term loss as capital loss if you've never had a long-term or short-germ capital gain before? (just started trading in '08 and had a loss for the year with no long-term gains)

"Capital losses are deducted first against capital gains, and then again up to $3,000 of other income..." - what i could find on it

[Edited on January 26, 2009 at 12:20 PM. Reason : ]

1/26/2009 11:56:37 AM

^ I'm no tax advisor but my understanding is that you can write off $3,000 and then carry forward any other losses to 2009 if you have more than that.

1/26/2009 7:11:17 PM

yeah - you can do it forever actually - max 3k per year - that's the dumbed down version

1/26/2009 7:43:43 PM

1099-D mailed out Feb. 2nd with TDA

1/27/2009 9:42:44 AM

The market is putting me to sleep today. It's dead. Low low volume. It's contracting into this range and I fear something is going to cause a big breakout soon. Oddly enough, that is lining up with either some Fed announcement about a bad bank creation or maybe the GDP number. Both of those should have the power to move the market. Just hoping I can get in on the right side of the move.

1/27/2009 11:10:50 AM

FOMC Meeting tomorrow at 1pm EST

1/27/2009 11:12:14 AM