pudc and ncoc

5/4/2009 11:49:11 AM

s&p near 900

be taking profits when given the chance

5/4/2009 1:12:45 PM

http://www.cnbc.com/id/30548678

5/4/2009 4:08:06 PM

^ Thanks, so it might be hype on coal? I wonder if I should sell, im up almost 50% on my coal in the last few days.

5/4/2009 5:05:30 PM

Quote :

"would $500 be a good start? I can go higher but I'm a total n00b at this. I have a basic knowledge of trading. I plan on researching and learning more before I start."

This is what I did, and it's a great idea. Just don't expect to make much money after commissions. You will definitely learn A LOT after your first dozen trades. Trading online without a broker to save you from doing stupid things can be really nerve-racking, and doing your first few trades knowing that it's only $500 makes it easier, rather than knowing it's approaching enough for a downpayment on an overvalued house.

5/4/2009 5:09:01 PM

what was the cause for BAC shooting up 20%

Was it them just denying they did not need to raise more capital?

5/4/2009 5:22:50 PM

Quote :

"^ Thanks, so it might be hype on coal? I wonder if I should sell, im up almost 50% on my coal in the last few days."

50% in a few days is a lot - is there a reason you are holding out? are you 50% up overall? what return are you holding out for?

5/4/2009 7:46:51 PM

anyone else get in on xtxi?

5/4/2009 8:05:09 PM

^^ well, i bought them for the long haul, never expecting this bounce. I had no particular target.

5/4/2009 8:34:23 PM

^^Any reason why they're up so much?

5/4/2009 10:02:06 PM

Quote :

" Personal Rate of Return from 01/01/2009 to 05/01/2009 is 4.8%*"

Curious if I'll hit the 5% mark for the year after today's climb is reflected.

5/4/2009 10:05:08 PM

^^
not sure, their earnings report is on friday though so i assume it has something to do with that

also just found this:
http://www.smallcapinvestor.com/smallcapnews/todaystrading/2009-05-04-small_caps_xtxi_and_crox_in_rally_mode

[Edited on May 4, 2009 at 10:19 PM. Reason : .]

5/4/2009 10:13:24 PM

Up 8% on the year in my 401k. I was so tempted to just hold those gains since I felt like it wouldnt stay as high as it hit yesterday for long. But for someone my age I don't think it really pays off that much to be trying to play the game like that. So I guess I'll just let it ride.

5/5/2009 8:15:57 AM

If you own GM........you are fuuuuuuuuuuuuuuuuuuuuuuuuuuucked.

http://market-ticker.denninger.net/archives/1010-GM-Shareholders-Poof!.html

Quote :

" You didn't/don't hold the stock, did you? If so, I hope you sell tomorrow, assuming it opens over 2 cents/share. Seriously. No really, I'm not kidding. In a filing with the SEC late this afternoon it was disclosed that the GM "restructuring" would: * Increase the number of authorized shares to 62 billion (!) * Reduce the par value to one cent. * Effect a 100:1 reverse split for the existing shareholders. The effect of this as disclosed would be that the existing common shareholders would have their holdings reduced in value to one percent of their current market value. So as of 4:00 Eastern today, your $1.85 stock price would be.... drum roll please..... $0.0185 per share. There is a lot of other material in this filing related to the restructuring of the debt. The exchange offers appear to have gone from 2/3rds reduction in the outstanding debt to a ninety percent reduction, effectively paying debtholders no more than a dime on the dollar. Oh, and it gets better. If the "negotiation" is as was done with Chrysler, saying "no" won't do you a damn bit of good - the government will, I would assume, threaten you and then file an involuntary Chapter 11 and attempt to cram this down your throat (or up a much less-desirable place.) The UAW does not get hit for 90%. The VEBA will get 50% in cash and the other half in stock - newly issued stock - which, of course, is part of the 99% you won't own when this "restructuring" is completed if you are a common stock holder as of tonight. Their effective hit? Zero, assuming the share price does not collapse (again) when this is all said and done. Oh, and if all this is not completed by agreement before June 1st? The filing makes clear: They're going to see the judge. For those of you who were trapped in this position since GM was in the $30s and foolishly thought your stock had value, you were wrong. You're done; God (in the form of The Administration) has spoken and for you, the game is over. Expect the price of the stock to collapse in the morning. You did sell today, didn't you?"

Another article here:
http://zerohedge.blogspot.com/2009/05/gm-is-officialy-wiping-out-common.html

5/5/2009 10:09:26 PM

^ so should we buy it when it plummets tomorrow?

5/5/2009 10:27:59 PM

depends entirely if you think GM can or will recover

5/5/2009 10:30:57 PM

^ I don't think it will, but I think a panicked sell off will drop the shares below their value, maybe enough to make some gains when they correct.

5/5/2009 10:34:21 PM

Quote :

"depends entirely if you think GM can or will recover"

fuck it

you could buy 500 shares and spend less than $10

I'm a total n00b at this but I don't see anything wrong with taking a chance on this one.

5/6/2009 3:15:37 AM

i've put 200 into the ira so far and its worth 228 now

[Edited on May 6, 2009 at 3:17 AM. Reason : ^thats what the gov hopes a lot of other ppl say]

5/6/2009 3:17:12 AM

How high do you guys expect FAS to go today....

5/6/2009 9:13:03 AM

It probably hit it's high premarket. 'Great' econ news like today usually results in a trend day, however it came with the news of BAC needing big money, so I think that will be a wash for the financials if not the entire market.

5/6/2009 9:21:42 AM

I had set a sell limit @ 10.50 and I wanted to raise it once the market opened looking at the trend...but Schwab site is frozen now....so I guess I am sold at 10.50....can't be too greedy I guess...I am happy with what I made....

[Edited on May 6, 2009 at 9:39 AM. Reason : s]

5/6/2009 9:37:29 AM

As of today, by some miracle, I am officially in the positive since I started trading in Aug of 08.

5/6/2009 12:08:30 PM

^
me too but I started a couple weeks ago. feels good.

5/6/2009 3:14:32 PM

^ That doesn't count

5/6/2009 3:46:50 PM

thee prototypical day to trade FAS, but was too busy at day job.

(there was even a double top from 2:30 to 3 pm which we came down from)

also, i was reading back and there seems to be some discussion about trading these 3x shares intraday versus any longer than that.

really?

even the names of the etfs (i.e. "Direxion Daily Finan. Bull 3X Shs ETF") imply that if you hold for anything longer than a day you're playing with fire...which i have on a few occasions



[Edited on May 6, 2009 at 3:57 PM. Reason : ]

5/6/2009 3:55:15 PM

Bottom line is you have to gamble and get lucky that the economic news is going to turn your way. The stress test news has been leaking for days, and BAC gets slammed this morning and yet FAS is still up 50% since the open on Monday morning, all because the second derivative of these economic statistics is improving. I'm really kicking myself for being a lazy bum this morning. I was laying in bed at about 7:55 watching CNBC and they said the ADP number was coming up and I thought "it's going to be bad but improving and were going to have another retarded up day today on the news". But nah, just stayed in bed. Could have had FAS at 9 and I would have been in it for 1000 shares for sure.

I finally ate a big loss a few days ago on some SRS I had been holding since 34. The earnings season is over and we're going to get more weeks of improving second derivative until that runs out of steam, probably closer to the next round of earnings. Many folks are now thinking we're going to run to 1000 or 1050 on the S&P before we get another pullback, some even thinking this is a double bottom when the reality of the recovery not actually happening by late 09 starts to sink in.

5/6/2009 4:05:13 PM

^^ The longest I have ever held an ETF was over an weekend. I normally buy pre-market or after-market and immediately put them for sale at a limit price.

But I have only been playing around with ETFs since Feb 09.

5/6/2009 4:57:38 PM

^ i'm talking about these 2x, 3x types -- got to be careful.

EDC's no exception, but it has been working for me to hold more than a few days, and i've monetized most of it by now



[Edited on May 6, 2009 at 5:16 PM. Reason : ]

5/6/2009 5:07:30 PM

^^^^^
well i went from 5% down to 5% up so that's pretty cool

5/6/2009 5:17:59 PM

Time for me to start crying I held 1000 shares of VNDA until yesterday knowing they would announce on their new drug today I went ahead and took it off with profit because I knew I wouldnt be at a computer during the announcement and sure enough it passed and went from 1 to 7 dollars FML

5/6/2009 6:11:58 PM

you cant be mad about money you didnt make as long as you made some! keep it steady

5/6/2009 6:25:08 PM

hmmm 100 dollars versus the 9000 i missed out on yes i can be sad about this one for a change lol Im sitting here watching that new car I could have bought with that one trade drive away lol

5/6/2009 6:35:55 PM

fucking double post oh its over 10 btw

[Edited on May 6, 2009 at 6:36 PM. Reason : double post]

5/6/2009 6:35:55 PM

^^ everyone has those. Thats the game. you'll remember that one and forget the hundreds of others that you did sell for profit that subsequently fell to half their value.

5/6/2009 6:37:40 PM

True the difference with this is that I actually owned it not I was thinking about buying it, I knew the announcement was today and I knew if it passed it would bring me mad money and instead I fucking took my 100 dollars profit because I knew I wouldnt be around today or wasnt supposed to be when in reality Ive lost 1000 dollars just as quick before and thought nothing of it. I was blinded by the fact of being so close to back even finally I think lol. Ah well on to the next one eventually we will all have our lucky day or at least lets hope so.

5/6/2009 6:43:41 PM

^ out of curiosity, why didn't you just put in a stop order to sell?

5/6/2009 6:54:47 PM

^^Ehh, I missed out on atleast 10k today too . Sold 1/3 my position in CTIC (been holding for months) at 99 cents expecting that such a huge spike would sell off if it crossed a dollar (similar to a month ago). Sure enough after I cashed out it continued to rise well past 1.50 that would have made me a quick 10k more.



[Edited on May 6, 2009 at 7:00 PM. Reason : .]

5/6/2009 6:59:39 PM

Because the announcement was after hours and I use scottrade so I would have had to put the order in today after hours. I wasnt supposed to be in front of a computer until after 7 today and instead I got back at 5:30. Yes I pretty much fucked up yes I shoudl have let it ride and just been prepared to come back and see that I lost it all, risk vs. reward was there. Live and learn I guess shit happens. Anyways I likely would have just put the profit into something that would have tanked anyways knowing my luck so Ill just look at it as I saved myself from making 9k only to actually lose it which would feel even worse.

[Edited on May 6, 2009 at 7:03 PM. Reason : lol]

5/6/2009 7:02:36 PM

How are you finding these biotech stocks with apparently big FDA decisions looming?

I think I'd shit my britches to hit the lottery like that. Stock up 800% after hours, rofl.

Quote :

"I was blinded by the fact of being so close to back even finally I think lol."

I've been doing this a lot lately. I had about 6 new assholes stomped in me over some absolutely amateur shit I pulled with BBY options and went from up 15% on calling the March 9 bottom (1000 shares into FAS at 2.75 was perfect timing) to down about 30% for not using stops and thinking I know more than a handful of analysts and big time institutional investors. Since then I have clawed my way back to about only 10% down and it very easily could be about 5% up if I would have let a lot of winners just run. Having said that, its hard to know which are winners and which are losers and I very easily could have let the losers run as well putting me right back where I was.

[Edited on May 6, 2009 at 7:47 PM. Reason : .]

5/6/2009 7:42:41 PM

I knew about VNDA because thats actually the first stock I ever bought back when it was at 5 and sold it at 6. So I have kept an eye on it since then and watched when it failed to get approval the first time around which made the stock plunge to 1.00. So I just knew when the 2nd go round would be for this one due to that really.

5/6/2009 8:03:18 PM

No way this is sustainable

http://www.streetinsider.com/Insiders+Blog/Bank+Stocks+and+ETFs+Encompass+41%25+Of+Todays+NYSE+Volume/4623885.html

5/6/2009 10:09:07 PM

What time are the stress test results being announced?

5/6/2009 10:16:24 PM

You feelin a sell the news event? The results are already leaked all over the place for the banks that people care about.

5/6/2009 10:28:49 PM

Eh. I figured.

I've been in class all week and haven't paid much attention to the market.

5/6/2009 10:44:01 PM

Contemplating buying more FAZ tomorrow morning to cover my loss today... should have sold it yesterday afternoon.

5/6/2009 11:49:41 PM

Just stay the hell away from FAZ until the new trend is clear. The government has succeeded in fooling everyone into thinking stability is here. From a technical standpoint, we are about to enter clear air with more upside left to come and the second derivative of the bad stuff is getting better. There is now a lot of room left to run before the next round of news comes out that will start any sort of push back down.

I'm starting to think the Feds will have engineered a massive double bottom as there is just no way in hell the economy recovers any time soon.


Was actually thinking about grabbing some FAS premarket and letting the trend run for another day, I go to check it out and its already up another 8% again today. That's like 60% since Monday morning.

[Edited on May 7, 2009 at 7:18 AM. Reason : .]

5/7/2009 7:10:29 AM

FAZ doing about 100k shares a second at the open

5/7/2009 9:30:56 AM

I finanlly timed it right
Was in Fas until it hit 12.60, got out, got into faz at 4.75

will hold till tomorrow or perhaps monday, not sure though

5/7/2009 10:07:37 AM

The financials appear to be under considerable selling pressure right now.

5/7/2009 10:37:30 AM