i can't hang with FAS - i already own Goldman, and they've got earnings tomorrow.

there's a camp that thinks insiders want to load as much bad news as they can into the stock, so that it will go low and be a candidate for an LBO (yes and LBO - if anyone can come up with the cash to do it, its Goldman)

i don't know if that will happen - i just want to lessen my impairment on the holding so i hope its not loaded with bad news and they report that they've been making a killing on the short side.

12/15/2008 5:08:54 PM

almost loaded up on FAS at $19.50 today, but I decided to grab BAC at $14 instead

I've made some good money on ETF's recently (made $2K on SRS in 24 hours), but they kind of freak me out the more I read about them

12/15/2008 10:28:13 PM

alright, I posted this in another thread in response to someone telling me I was an idiot for putting 20% in my 401k just wanted to get some more opinions here:

We [my company] are 5% match going to 6% I believe. Ignoring everything else besides the 401k and Roth IRA options because I am not interested in getting involved much past that, do you think I am better off putting the 5 or 6% in for the company match and then just putting the appropriate percentage of money into my IRA to max out the $5000? or how many of you think that I am fine at 20% in my 401k?

12/16/2008 8:01:20 AM

FAS is up 1.50 premarket, could be an interesting day

12/16/2008 8:38:56 AM

Looks like it's going to come down, the Bid is 21.05 on it at the moment. I'm guessing the GS news might be a drag on things but you never know with this market (especially since GS is up on the news).

Edit:

There were a few large-ish lots that triggered at 21.50, looks like the momentum is up a little for now.

[Edited on December 16, 2008 at 9:04 AM. Reason : .]

12/16/2008 8:51:43 AM

21.85 set a stop market to secure profits at 21.25.

i'm happy

12/16/2008 9:33:55 AM

SO...... is the .5% fed funds rate cut going to help the market at all or is that built in currently?

12/16/2008 10:30:50 AM

I don't think a rate cut is going to move the market. Look at the effective rate

http://www.newyorkfed.org/markets/omo/dmm/fedfundsdata.cfm

It's been well under 1% for more than a month. What the market is looking for is quantitative easing and how much of it. This should cause some sort of a short term rally. I do have an idea that if this is the news then the market could take it as an "wow, things are shitty" sign and sell off, but it seems to me the market is looking for ANY reason to rally. Goldman loses money, worse than the market expected even, for the first time as a public company and it is up 8%, Best Buy announces terrible news, housing starts at record lows, oil rising on expected OPEC cuts...and yet the market is still up. The only danger is that this is some sort of a "buy the rumor, sell the news" type of blip up and we'll see things come tumbling down after they actually announce the quantitative easing. But, I don't really buy it yet. I'll disclaimer that I'm still searching for my balls and won't put any skin into FAS or SSO at this point, the market is still too chaotic for me.

12/16/2008 10:56:37 AM

Volume is really light so far today, less than 1/2 what it would normally be. Seems like everyone is waiting on the fed. I'd expect things to really start to move when Bernanke begins talking, so man your trading screens if you have positions.

12/16/2008 12:57:48 PM

FAS is starting to jump again...

12/16/2008 2:27:37 PM

knew I should've bought FAS yesterday

oh well

12/16/2008 2:52:29 PM

everyone else did

12/16/2008 2:53:53 PM

12/16/2008 2:54:09 PM

my fucking stop market kicked in and i was on it like white on rice and it was constantly .75 higher than that. mother fucker!

12/16/2008 2:58:21 PM

I sold way early

12/16/2008 3:00:46 PM

may pick up some FAZ since this will all be short term most likely

12/16/2008 3:02:08 PM

Quote :

"my fucking stop market kicked in and i was on it like white on rice and it was constantly .75 higher than that. mother fucker!"

Eh?

12/16/2008 3:05:45 PM

put in a stop market to secure my profits. was watching it like a hawk. a trade went through right at the price (which was a huge dip from where it was at that time) and it screwed me. oh well.

12/16/2008 3:11:12 PM

so wheres the ceiling today?

out at 25.60

[Edited on December 16, 2008 at 3:20 PM. Reason : wooo]

12/16/2008 3:11:51 PM

lucky you - missed out on 10% with 300 shares

12/16/2008 3:29:58 PM

damn, i was hoping for a big drop today so I could buy in again

12/16/2008 3:31:31 PM

just picked up 100 shares of FAZ

12/16/2008 3:34:10 PM

^ FU

I was watching it trend down and noticed it floating along, by the time I could get in a 200 order limit at 37.25 it had actually touched that as the days low and bounded back up. I was watching it trying to catch it and modified it to 37.80 and missed it again. I still think it has a lot of room to run (maybe even today if there is a profit taking in the last 20 minutes), but I lost my balls again.

12/16/2008 3:36:10 PM

Well damn, got out of FAS at 24.91. Watch it hike back up at the close now

[Edited on December 16, 2008 at 3:36 PM. Reason : .]

12/16/2008 3:36:15 PM

55 FAZ at 38.29

12/16/2008 3:39:33 PM

Mmmm when I left rtp I was having a marginally good day, in the hour it took me to get back here things have shot up quite nicely

12/16/2008 3:46:12 PM

damn missed 37.50 on FAZ

12/16/2008 3:48:11 PM

So you guys really think FAZ is the ticket for tomorrow

12/16/2008 3:49:16 PM

Jesus, don't trade on what we say, but profit taking will probably come in the near term. The market seems to keep bumping into a ceiling in this 900 range. I guess I'm just scared to stick my foot in because I fear this euphoria of the past couple of weeks will suddenly give up and push the S&P and Dow back to the Nov 20 lows.

12/16/2008 3:51:32 PM

SRS at $61.75

12/16/2008 3:56:00 PM

ouch

12/16/2008 3:57:41 PM

this seems to be the 2nd week of that multiweek rally i was talking about..

lets see if we hold up

12/16/2008 3:57:50 PM

Well damn I guess i'm out for a couple days. Is it common to have a "settlement period" after selling off some stocks before that cash becomes available for another trade? Or is it just because my newest transaction used up the newest added funds to the account that hadn't fully "cleared" to begin with?

12/16/2008 6:17:17 PM

MS just reported a larger than expected loss and their stock is down pre market. FAZ might be good for a short term play today, I still fear this market is doing anything it can to push higher through the end of the year.

12/17/2008 9:22:21 AM

I'm hoping it can push a bit higher, I have a few stocks I have been holding for months that are approaching break even prices at least on some of my shares that I would love to break even on and free up some cash. Ive seen some people saying MS will open lower but could actually finish the day on the plus side, makes sense with how the market has been lately, crushed on earnings finish up, beat earnings stock tanks lol

12/17/2008 9:30:29 AM

i'm listening to Jon Najarian from now on

12/17/2008 10:27:01 AM

Dry Bulk shippers are moving hard again this morning, now the fun begins as things pass my break even point, dont wanna put in a stop just yet as its so close to the actual price but would love to actually make some profit so hopefully they keep soaring so ill feel safe putting in a good stop

12/17/2008 10:35:19 AM

despite the rough job numbers, i think this will be an up week as well

12/17/2008 11:20:15 AM

Well, apparently we all could have gambled yesterday and held FAS a little longer soaring past 27 now

[Edited on December 17, 2008 at 1:38 PM. Reason : D'oh]

12/17/2008 1:36:14 PM

FAZ and SRS looking mighty tempting.

12/17/2008 1:52:06 PM

damn missed limit buy on FAZ at 33.50 oh well. been super busy at work.

12/17/2008 2:41:32 PM

Should be support for FAS around the 25.40-25.80 range. Look for a strong finish today.

12/17/2008 2:46:05 PM

^^ I had the same limit set! I think it could dive lower though over the next couple of days

[Edited on December 17, 2008 at 2:46 PM. Reason : .]

12/17/2008 2:46:24 PM

Oh well got stopped out on my dry bulk shipper play, any profit is good profit though amirite!

I may have to wait a bit before I try to trade anything else, seems to me we are at a peak zone where we are either about to start heading back down quite a bit, or breakout and start heading up quite a bit, will have to wait and see which way its gonna go

[Edited on December 17, 2008 at 3:32 PM. Reason : .]

12/17/2008 3:11:10 PM

Quote :

"Is it common to have a "settlement period" after selling off some stocks before that cash becomes available for another trade?"

Yes.

12/17/2008 5:37:19 PM

if you don't hold the stock for 3 days and you don't have a margin account..... yes

12/17/2008 8:37:56 PM

The dollar crash might already be here. There is about to be a lot of pain in this country.

Stupid fucking Americans wanted it and now they're going to get it.

If you're not on the inside (Detroit, Wall St, etc) you are on the outside.

If you aren't keeping a 12 month nest egg in a basket of currencies (i.e. NOT US Dollars) you are just fucking asking for it.

12/18/2008 6:51:50 AM

Well that's a pleasant view RD...in addition to being wildly pessimistic, it's also incorrect

Cheaper dollars are a good thing (to a certain point), will make US exports more competitive and will also push US consumers to reign in spending on imports...

12/18/2008 8:16:36 AM

Quote :

"if you don't hold the stock for 3 days and you don't have a margin account..... yes"

Thanks guys, I guess I held my first couple of trades for longer so I didn't notice this settlement period until I tried selling off this stock

12/18/2008 8:23:43 AM

What is everybody buying right now as good long term stocks.

12/18/2008 8:25:30 AM