Picked up a bit of EOD, F, and RST near the bottom.

It's funny because I got back from the gym this morning, cut on CNBC, saw that the Dow was down around 30 points and thought to myself "I'll bet that today is pretty boring".

5/6/2010 3:05:06 PM

FUCK FUCK MOTHERFUCK

STUPID SHITTY 3RD WORLD BROKE ASS INTERNET

5/6/2010 3:09:12 PM

boooooooooooooooooo

5/6/2010 3:10:04 PM

The dollar continues to absolutely slaughter the euro.

5/6/2010 3:10:49 PM

fuck, i missed the bottom of this little dip.

i did snag 1350 shares of F at 11.75

probably won't hold it very long since I already have a ton of F.

[Edited on May 6, 2010 at 3:12 PM. Reason : I really wanted SSO, but fucking JPM's 401k doesn't allow leveraged ETFS ]

5/6/2010 3:10:57 PM

Whats funny is that when the market was down 300, I called chase and left a message with my rep. I said "I want to know how quickly I can unallocate from stocks and shove it all into bonds or cash in the event the greece crap takes strong hold over here" (yes, I am trying to time the market a bit).

I hung the phone up, and 10 minutes later the DOW is down 1000.

5/6/2010 3:13:49 PM

^^ I bought 500 shares of SSO @ $38.70.

I had been trying to buy for a while earlier with it lower, but my fucking internet wouldn't work.

5/6/2010 3:18:22 PM

Quote :

"fuck, i missed the bottom of this little dip."

me too - i've been working since 3:50 am this morning to get this deal done




this is the first i've heard of this

5/6/2010 3:24:58 PM

Glad I followed Duke on this one. SSO call premiums are ridiculous right now.

5/6/2010 3:38:46 PM

glad my DGP order went in yesterday.

also got stopped out of AAPL early today.

just bought some NEM

5/6/2010 3:38:49 PM

Quote :

"I haven't looked into VIX options but I've heard the premiums on them are really expensive. "

Allow me to shake your hand if you longed anything on the VIX....the triggers with these mutual funds went out of control today. 900 point intra day has got to be some sort of a record.

Quote :

"also got stopped out of AAPL early today."

I'm sure you've got a couple million Americans in the same boat.

[Edited on May 6, 2010 at 3:45 PM. Reason : .]

5/6/2010 3:43:49 PM

Holy fuck. Just looked at VIX. Glad I didn't touch that one.

I'll use some monopoly money to buy puts on it right now though.

5/6/2010 3:52:21 PM

thereeeeeeee apple goes...back down to a little more reasonable price

5/6/2010 3:53:58 PM

Out of SSO @ $39.51

$400 in my pocket; would've probably been at least double that if my internet had been working properly

5/6/2010 3:58:32 PM

EPI at $21.63 - closed at $21.62
RST at $23.32 - closed at $24.56
SSO at $38.37 - closed at $38.9
BP at $49.97 - closed at $50.33
EOD at $8.77 - closed at $9.29
F at $11.48 - closed at $11.78

Took a hit today, but I outperformed the market and reopened and expanded some positions that at prices that I wouldn't have imagined this morning.

So I have to take the bad with the good, so I guess what I'm feelin' is like a, beautiful sadness. I guess that sounds stupid.

5/6/2010 4:06:35 PM

picked up UCO at $11 mid-dip today. Wishing I still had my BIDU puts I bought (and sold) last week that hit $25 today (from $3).



I can never get that lucky though.

[Edited on May 6, 2010 at 4:16 PM. Reason : .]

5/6/2010 4:12:44 PM

I had some limits set that I forgot about that went off today, kinda pissed at myself. Didn't want to sell my EUO Calls yet, oh well.

A lot of people are going to be pissed, especially retail investors that had stops in place. Going to be interesting to see what caused the dramatic dip this afternoon.

5/6/2010 4:23:19 PM

So now they are saying the trading craziness was the result of a typo by a trader, selling (B)illions of shares and not (M)illions of shares.

Fucking insane.

5/6/2010 4:23:28 PM

Stock Selloff May Have Been Triggered by a Trader Error

http://www.cnbc.com/id/36999483

5/6/2010 4:25:45 PM

^gotta be more to it than that

5/6/2010 4:43:55 PM

I got stopped out of BRK.B and FCX. Barely missed stopping out CVX.

I knew there was lots of buying opportunity when i got back at 3:30 from my meeting but I frooze.

Was not really sure where to go. I wanted to expand my energy and raw materials position but with oil and copper currently down I did not want to catch a falling knife. The strengthing dollar vs euro makes me less inclined to pick up any domestic manufacturing or cyclicals. Also the euro stuff makes me nervous about finance still.

I did notice that VFH fell from $32 ALL THE WAY to 16 FUCKING CENTS!!

5/6/2010 4:56:39 PM

It sounds insane - but what ended up happening was trading halted and most of the market makers couldn't get any liquidity. There were a couple of ticks where a lot of securities were traded at 0.

A pretty insane day all in all - I blame the stat-arb funds trying to one up eachother when the liquidity dried up. I'll see if I can get some charts up in a bit

5/6/2010 4:57:07 PM

holy fuck! that's insane that people could have picked up $30 shares for fucking pennies!

5/6/2010 5:01:21 PM

5/6/2010 5:16:14 PM

Daaamn

5/6/2010 5:38:30 PM

Hard to say if this is just a fluke, but I think we're due for a very serious correction. Any time in history that the stock market has recovered as fast as it has since the crash in 2008, it's tanked even worse at some point in the future.

In other news, gold is back up above 1200. Better get it while the getting's good.

5/6/2010 6:04:11 PM

From another message board I'm on -- this guy says what I want to say, just better. I was watching the Greek riots live, and what he says is the truth. The timings were almost perfect.

Quote :

" The general Greece situation and some other things brought the Dow from 10,800 to 10,600 today. Then the Greek riot began, dropping the Dow from 10,600 to 10,500. At that point, computer selling programs and stop loss levels kicked in, and drove it all the way below 9,900, in about 7 minutes. At 10,000, on the way down, limit buys and other computer programs kicked in and drove it back up to 10,400, in about 7 minutes. From there, it backed and filled, stabilizing just over 10,500. "

Quote :

" It was the riot. Four PC and two video screens here, and they were all up and running, realtime, markets and the riot video feed. If ~50-100 here at Arfcom were watching in realtime, as evidenced by Psy-ops thread, (fanTAStic play, ma'am) then tens of thousands were watching, worldwide. The market drop started precisely as the police surged forward, and the selling tapered off as the riot decision went to the cops. With two major psychological points involved, 10,500 when it fell off a cliff, and 10,000 when the riot ended and the Dow spiked back up, there is no question that that riot, broadcast globally was the sole reason for the fluctuation. No question in my mind at all. "

5/6/2010 8:17:25 PM

Holy crap...

http://www.reuters.com/article/idUSTRE6456QB20100506

Quote :

"Nasdaq to cancel trades (Reuters) - Nasdaq Operations said it will cancel all trades executed between 2:40 p.m. to 3 p.m. showing a rise or fall of more than 60 percent from the last trade in that security at 2:40 p.m or immediately prior."

5/6/2010 8:41:39 PM

yeah. ain't that some BS

5/6/2010 9:00:06 PM

Well that shit was enough to make me re-consider EVER placing a market order again in my lifetime. I literally passed out at like 600 PM today when I got home i was so drained.

What a fucking day.

Also, if you didn't learn your lesson.

Trailing stops >>>> stop limits

Saw some people get badly burned today.

[Edited on May 7, 2010 at 12:36 AM. Reason : a]

5/7/2010 12:35:23 AM

[Edited on May 7, 2010 at 12:39 AM. Reason : dur]

5/7/2010 12:37:54 AM

yeah, I for one have never seen anything like what happened yesterday. Also, we came pretty close to tripping the 10% "fuse".

Quote :

"So now they are saying the trading craziness was the result of a typo by a trader, selling (B)illions of shares and not (M)illions of shares. Fucking insane."

Yeah, the trader error on Proctor & Gamble broke just a few minutes before the closing bell. I was figuring that had something to do with the rebound going into the bell, but then it started falling off again at the last minute.

5/7/2010 1:06:31 AM

I don't believe there is a fuse after 2:30, so it could have been bad to say the least.

5/7/2010 3:15:49 AM

you're right, sort of. there's no 10% fuse late in the day; there is a 20% fuse.

5/7/2010 9:14:04 AM

^

5/7/2010 9:19:00 AM

we're about to open higher...

5/7/2010 9:30:41 AM

That's kinda what I was expecting, too, but not so much.

5/7/2010 10:02:39 AM

damn, i was hoping to play some volatility today and make another couple hundred bucks or so, but it's just going down the toilet. Again.

5/7/2010 10:28:48 AM

the company i work for makes stock analysis software, and one of our products monitors various trading strategies in real time. one of my coworkers has it on auto-trade and made 1800% during the crash yesterday. we're not hooked up to brokerages in the office, so it was just paper trade, but i won't be surprised if some of our customers had similar results. either way, very cool to see our software do its job, even through a crazy day like that

5/7/2010 11:05:25 AM

I fucked up. Tried to buy SSO to make money on the momentum, but ended up buying at exactly the wrong time.

I'm gonna need to get Level 2...day trading is kinda dumb without it, really. At least I don't really care too much if I get stuck in a position for a week or three before I can sell for a profit.

5/7/2010 11:57:46 AM

They just announced that Spain is out of recession. Hopefully that will ease some europe fears.

5/7/2010 12:39:57 PM

Looks like a big up day tomorrow after the announcement of this Euro package.

5/9/2010 10:46:12 PM

Quote :

"In other news, gold is back up above 1200. Better get it while the getting's good."

I hope you invest in accordance with your political beliefs. Only a fool would buy gold right now.

5/9/2010 11:35:46 PM

Good day.

5/10/2010 12:23:20 PM

yep, i think i'll unload that SSO again here

5/10/2010 1:04:49 PM

I'm still sitting on the lot that I picked up at $38.48 on Thursday. I just went ahead and sold 41 calls for next Friday at $1.32 each.

5/10/2010 1:35:23 PM

I had a trailing stop set, then when I saw it wasn't going to trip before the bell, I was going to try to modify it to a market order and unload it all, but the internet was too slow.

oh well, hopefully we don't take a dive tomorrow. Not often that you see an up day after one with a 4.5% gain, but then again, there was a slight run up in the last hour or more towards the bell, so who knows.

5/10/2010 4:06:36 PM

Quote :

"I hope you invest in accordance with your political beliefs. Only a fool would buy gold right now."

This is a great time to buy gold. I expect to see it hit at least 1300 in the next few months. The Euro is taking a beating right now, sure. I wouldn't be surprised to see the Euro get dumped altogether, to be honest. However, the dollar is going to be the next bubble to burst. It's on an unsustainable path. Inflation is already happening in energy and food, which BLS conveniently doesn't include in the CPI. In a few years, the annual interest on our debt is going to be a trillion dollars, and you know the government isn't going to cut spending or raise taxes substantially. If the Fed raised interest rates, the debt would spiral out of control even more.

Stocks, especially U.S. stocks, are risky as fuck for the foreseeable future. I don't care what cable news/brokers/whoever else is telling you...they're trying to sell stocks. If you want to short stocks and swap currencies, try your luck, you can probably make some cash...if you get out at the right time. We're headed for a market crash and a currency crash. The Federal Reserve is bailing out fucking Europe now to the tune of a trillion dollars. I doubt they're going to stop there. The global crisis is coming to a head right now, and you can see the writing on the wall, or you can watch your savings get wiped out.

5/10/2010 10:36:12 PM

PCLN took a big hit.

5/11/2010 10:49:22 AM

Out of SSO @ $41.65.

I made a "G" today.

5/11/2010 1:21:42 PM