***Official*** 2008 Stock Market Thread

[Ballatician]

I'm tempted by Frontier Oil Corp. (FTO) at <$20.

 

[Azurik]

Originally posted by: Azurik

Originally posted by: alphatarget1

Originally posted by: Azurik

Well, I don't want to jinx it, but if it closes at this level it would be the standard Turnaround Tuesday we were (or at least me) hoping for.

I already bought what I can buy. Now I have to follow Mr. Market's mood swings.

Didn't you short USO? How is that going?

Yes, I didn't get $10k worth though, $6.5k at alittle above $110. Looking at it early this morning, it was trading around $115 give or take, so not good so far? :brokenheart:

Yee-haw! My oil short is now well in the black! 3 consecutive days of oil dropping is just what the doctor ordered.

 

[Slew Foot]

Well tomorrow should be interesting. Google, Microsoft, Merril Lynch all miss expectations and are diving in after hours.

 

[Schfifty Five]

Originally posted by: Slew Foot
Well tomorrow should be interesting. Google, Microsoft, Merril Lynch all miss expectations and are diving in after hours.

Add AMD as well.

And who knows what C will do tomorrow either.

Nokia did awesome today and I hope that one does a reversal now. I've gone from up a lot on NOK to negative all within a year b/c of this stupid ass recession.

 

[Crusty]

Originally posted by: her209

Originally posted by: Engineer

Originally posted by: her209
rule that allows shorting only when the stock price is going up?

The SEC removed the uptick rule last year allowing multiple and consecutive short sales to drive a market down more quickly. Not sure if it effects anything or not....not sure that it's even enforced considering the SEC record.

I was channel surfing yesterday and ran across Mad Money and for once I agreed with what Cramer said. He said to the SEC 1) Enforce the naked shorting rules 2) Bring back the uptick rule.

Agree 100%. The burden of enforcing naked shorts should fall on the brokers IMO, but unless there is a penalty that is enforced by the SEC I don't see the brokers doing anything to stop it. I know for a fact that G&S has rules in their trading software to prevent somebody from selling short stock that they don't have the locate on, BUT they do you allow to flag orders to skip that check. In any case, if someone really wanted to it's possible to sell short stock that they can not borrow and it will go unchecked. Occasionally you might get hit with a $10 fee for doing it, but it's definitely not something that they enforce %100.

 

[JS80]

Originally posted by: Slew Foot
Well tomorrow should be interesting. Google, Microsoft, Merril Lynch all miss expectations and are diving in after hours.

20% chance of a HUGE sell-off tomorrow. I'm gonna buy OTM July puts in the morning.

 

[Slew Foot]

Originally posted by: JS80

Originally posted by: Slew Foot
Well tomorrow should be interesting. Google, Microsoft, Merril Lynch all miss expectations and are diving in after hours.

20% chance of a HUGE sell-off tomorrow. I'm gonna buy OTM July puts in the morning.

Im thinking the same thing, the ban on naked shorting caused a bunch of people to "drop their shorts" which led to a bit of a short squeeze and a rapid rise in certain sectors. If profits are bad enough , i think some longs are going to collect their profits before the weekend.

 

[JS80]

Originally posted by: Slew Foot

Originally posted by: JS80

Originally posted by: Slew Foot
Well tomorrow should be interesting. Google, Microsoft, Merril Lynch all miss expectations and are diving in after hours.

20% chance of a HUGE sell-off tomorrow. I'm gonna buy OTM July puts in the morning.

Im thinking the same thing, the ban on naked shorting caused a bunch of people to "drop their shorts" which led to a bit of a short squeeze and a rapid rise in certain sectors. If profits are bad enough , i think some longs are going to collect their profits before the weekend.

Imagine Goog open at 490, and the 470 puts trade at 10 cents and goog goes to 450...lol 200x your money in a few hours.

 

[Slew Foot]

Originally posted by: JS80

Originally posted by: Slew Foot

Originally posted by: JS80

Originally posted by: Slew Foot
Well tomorrow should be interesting. Google, Microsoft, Merril Lynch all miss expectations and are diving in after hours.

20% chance of a HUGE sell-off tomorrow. I'm gonna buy OTM July puts in the morning.

Im thinking the same thing, the ban on naked shorting caused a bunch of people to "drop their shorts" which led to a bit of a short squeeze and a rapid rise in certain sectors. If profits are bad enough , i think some longs are going to collect their profits before the weekend.

Imagine Goog open at 490, and the 470 puts trade at 10 cents and goog goes to 450...lol 200x your money in a few hours.

A year or so ago i had my finger on GOOG puts with a strike of 500, the stock was at 700 back then. Kicking my self for missing that one but I shorted CAKE instead, which didnt turn out too bad.

Oh yeah, tomorrow is options expiration day, now it gets real interesting.

 

[JS80]

Originally posted by: Slew Foot

Originally posted by: JS80

Originally posted by: Slew Foot

Originally posted by: JS80

Originally posted by: Slew Foot
Well tomorrow should be interesting. Google, Microsoft, Merril Lynch all miss expectations and are diving in after hours.

20% chance of a HUGE sell-off tomorrow. I'm gonna buy OTM July puts in the morning.

Im thinking the same thing, the ban on naked shorting caused a bunch of people to "drop their shorts" which led to a bit of a short squeeze and a rapid rise in certain sectors. If profits are bad enough , i think some longs are going to collect their profits before the weekend.

Imagine Goog open at 490, and the 470 puts trade at 10 cents and goog goes to 450...lol 200x your money in a few hours.

A year or so ago i had my finger on GOOG puts with a strike of 500, the stock was at 700 back then. Kicking my self for missing that one but I shorted CAKE instead, which didnt turn out too bad.

Oh yeah, tomorrow is options expiration day, now it gets real interesting.

Remember a few months ago when nasdaq fell like 4%? I think it was ON expiration day Goog way OTM puts were at like 5 cents and it literally ended at $20. I kicked myself in the face after just watching that unfold (because obviously I lacked the balls).

 

[ponyo]

Originally posted by: JS80

Originally posted by: Slew Foot
Well tomorrow should be interesting. Google, Microsoft, Merril Lynch all miss expectations and are diving in after hours.

20% chance of a HUGE sell-off tomorrow. I'm gonna buy OTM July puts in the morning.

Good luck. Any major weakness now should be bought. We hit the bottom on Tuesday IMO. It may not be the ultimate "bottom" but I think this reversal rally was/is tradeable and will last awhile. I guess we'll know later when we look back.

Most violent rise occurs in the context of a bear market and we saw that the past two days as the banking index gained 33% from the low. Sure we'll have profit taking decline but psychology has changed. Greed and performance anxiety will eventually overtake all the sideline and under invested funds and they will drive this bear market rally higher. Just like the decline was more brutal than most anticipated, the recovery will last longer and overshoot higher than people expect.

 

[ponyo]

Google will fill the gap to $450. I was short about 2 weeks ago looking for that gap and ended up getting stopped out. I was looking for the gap to be filled but I was early like I am most of the time.

 

[JS80]

Originally posted by: Naustica

Originally posted by: JS80

Originally posted by: Slew Foot
Well tomorrow should be interesting. Google, Microsoft, Merril Lynch all miss expectations and are diving in after hours.

20% chance of a HUGE sell-off tomorrow. I'm gonna buy OTM July puts in the morning.

Good luck. Any major weakness now should be bought. We hit the bottom on Tuesday IMO. It may not be the ultimate "bottom" but I think this reversal rally was/is tradeable and will last awhile. I guess we'll know later when we look back.

Most violent rise occurs in the context of a bear market and we saw that the past two days as the banking index gained 33% from the low. Sure we'll have profit taking decline but psychology has changed. Greed and performance anxiety will eventually overtake all the sideline and under invested funds and they will drive this bear market rally higher. Just like the decline was more brutal than most anticipated, the recovery will last longer and overshoot higher than people expect.

Merrill miss, Google miss, MSFT miss...fear will come back tomorrow and realization that corporate earnings will fall. Rally was dead cat bounce from falling oil and naked short threat.

I'll put in $500 to OTM Goog options for 10 cents. I think it's worth the gamble.

 

[her209]

OMG, YES!!!! link

 

[JS80]

Originally posted by: her209
OMG, YES!!!! link

LOL stock is DOWN on this news?!?!?! insanity!~

 

[JS80]

Originally posted by: Slew Foot

Originally posted by: JS80

Originally posted by: Slew Foot

Originally posted by: JS80

Originally posted by: Slew Foot
Well tomorrow should be interesting. Google, Microsoft, Merril Lynch all miss expectations and are diving in after hours.

20% chance of a HUGE sell-off tomorrow. I'm gonna buy OTM July puts in the morning.

Im thinking the same thing, the ban on naked shorting caused a bunch of people to "drop their shorts" which led to a bit of a short squeeze and a rapid rise in certain sectors. If profits are bad enough , i think some longs are going to collect their profits before the weekend.

Imagine Goog open at 490, and the 470 puts trade at 10 cents and goog goes to 450...lol 200x your money in a few hours.

A year or so ago i had my finger on GOOG puts with a strike of 500, the stock was at 700 back then. Kicking my self for missing that one but I shorted CAKE instead, which didnt turn out too bad.

Oh yeah, tomorrow is options expiration day, now it gets real interesting.

What were those puts going for?

 

[IHateMyJob2004]

My portfolio was up over 10% on Wednesday. Heavyweight these financial stocks:
BAC
BBT
WFC
USB

Talk about a good time to buy good financial stocks. It is not to late!

 

[ponyo]

Originally posted by: JS80

Originally posted by: Slew Foot

Originally posted by: JS80

Originally posted by: Slew Foot
Well tomorrow should be interesting. Google, Microsoft, Merril Lynch all miss expectations and are diving in after hours.

20% chance of a HUGE sell-off tomorrow. I'm gonna buy OTM July puts in the morning.

Im thinking the same thing, the ban on naked shorting caused a bunch of people to "drop their shorts" which led to a bit of a short squeeze and a rapid rise in certain sectors. If profits are bad enough , i think some longs are going to collect their profits before the weekend.

Imagine Goog open at 490, and the 470 puts trade at 10 cents and goog goes to 450...lol 200x your money in a few hours.

You think 470 put is going to trade for 10 cents at open? :laugh: If you don't already own the put, good luck. You have to anticipate this kind of things, not react after. :laugh:

 

[JS80]

Originally posted by: Naustica

Originally posted by: JS80

Originally posted by: Slew Foot

Originally posted by: JS80

Originally posted by: Slew Foot
Well tomorrow should be interesting. Google, Microsoft, Merril Lynch all miss expectations and are diving in after hours.

20% chance of a HUGE sell-off tomorrow. I'm gonna buy OTM July puts in the morning.

Im thinking the same thing, the ban on naked shorting caused a bunch of people to "drop their shorts" which led to a bit of a short squeeze and a rapid rise in certain sectors. If profits are bad enough , i think some longs are going to collect their profits before the weekend.

Imagine Goog open at 490, and the 470 puts trade at 10 cents and goog goes to 450...lol 200x your money in a few hours.

You think 470 put is going to trade for 10 cents at open? :laugh: If you don't already own the put, good luck. You have to anticipate this kind of things, not react after. :laugh:

You obviously do not understand options. The premium on the options were way too high before earnings. If GOOG opens at 490 all the premium/theta whatever will evaporate and all the options will trade near intrinsic value. An OTM put with such a strike as 470 will trade for cents. Today it was trading at $2+. Notice the difference in premium due to earnings volatility? If I had bought it today at $2, it would go down to 10cents and I would have been a fool. If I wait until after earnings to see reaction at open, I have a chance to hit it big.

What I am banking on tomorrow is that the stock falls to 490 (which is only -8%) at which point I will buy 470 or 480 puts for cents (5c to 25c if I get lucky) and hope that the market erodes precipitously throughout the day (maybe black friday? MER, GOOG, MSFT misses, what if C misses too in the morning?) and end up at 450, which is down only 15%, which is also NOT unreasonable.

Regardless, if I do get in on it for 10 cents, risk reward is pretty good (up to 200x your money in 1 day), especially considering I've seen this happen before.

 

[ponyo]

Originally posted by: JS80

Originally posted by: Naustica

Originally posted by: JS80

Originally posted by: Slew Foot

Originally posted by: JS80

Originally posted by: Slew Foot
Well tomorrow should be interesting. Google, Microsoft, Merril Lynch all miss expectations and are diving in after hours.

20% chance of a HUGE sell-off tomorrow. I'm gonna buy OTM July puts in the morning.

Im thinking the same thing, the ban on naked shorting caused a bunch of people to "drop their shorts" which led to a bit of a short squeeze and a rapid rise in certain sectors. If profits are bad enough , i think some longs are going to collect their profits before the weekend.

Imagine Goog open at 490, and the 470 puts trade at 10 cents and goog goes to 450...lol 200x your money in a few hours.

You think 470 put is going to trade for 10 cents at open? :laugh: If you don't already own the put, good luck. You have to anticipate this kind of things, not react after. :laugh:

You obviously do not understand options. The premium on the options were way too high before earnings. If GOOG opens at 490 all the premium/theta whatever will evaporate and all the options will trade near intrinsic value. An OTM put with such a strike as 470 will trade for cents. Today it was trading at $2+. Notice the difference in premium due to earnings volatility? If I had bought it today at $2, it would go down to 10cents and I would have been a fool. If I wait until after earnings to see reaction at open, I have a chance to hit it big.

What I am banking on tomorrow is that the stock falls to 490 (which is only -8%) at which point I will buy 470 or 480 puts for cents (5c to 25c if I get lucky) and hope that the market erodes precipitously throughout the day (maybe black friday? MER, GOOG, MSFT misses, what if C misses too in the morning?) and end up at 450, which is down only 15%, which is also NOT unreasonable.

Regardless, if I do get in on it for 10 cents, risk reward is pretty good (up to 200x your money in 1 day), especially considering I've seen this happen before.

Like I said, good luck. :laugh:

 

[JS80]

Originally posted by: Naustica

Originally posted by: JS80

Originally posted by: Naustica

Originally posted by: JS80

Originally posted by: Slew Foot

Originally posted by: JS80

Originally posted by: Slew Foot
Well tomorrow should be interesting. Google, Microsoft, Merril Lynch all miss expectations and are diving in after hours.

20% chance of a HUGE sell-off tomorrow. I'm gonna buy OTM July puts in the morning.

Im thinking the same thing, the ban on naked shorting caused a bunch of people to "drop their shorts" which led to a bit of a short squeeze and a rapid rise in certain sectors. If profits are bad enough , i think some longs are going to collect their profits before the weekend.

Imagine Goog open at 490, and the 470 puts trade at 10 cents and goog goes to 450...lol 200x your money in a few hours.

You think 470 put is going to trade for 10 cents at open? :laugh: If you don't already own the put, good luck. You have to anticipate this kind of things, not react after. :laugh:

You obviously do not understand options. The premium on the options were way too high before earnings. If GOOG opens at 490 all the premium/theta whatever will evaporate and all the options will trade near intrinsic value. An OTM put with such a strike as 470 will trade for cents. Today it was trading at $2+. Notice the difference in premium due to earnings volatility? If I had bought it today at $2, it would go down to 10cents and I would have been a fool. If I wait until after earnings to see reaction at open, I have a chance to hit it big.

What I am banking on tomorrow is that the stock falls to 490 (which is only -8%) at which point I will buy 470 or 480 puts for cents (5c to 25c if I get lucky) and hope that the market erodes precipitously throughout the day (maybe black friday? MER, GOOG, MSFT misses, what if C misses too in the morning?) and end up at 450, which is down only 15%, which is also NOT unreasonable.

Regardless, if I do get in on it for 10 cents, risk reward is pretty good (up to 200x your money in 1 day), especially considering I've seen this happen before.

Like I said, good luck. :laugh:

Aren't you the one buying up carmax? :laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh:

 

[ponyo]

Originally posted by: IHateMyJob2004
My portfolio was up over 10% on Wednesday. Heavyweight these financial stocks:
BAC
BBT
WFC
USB

Talk about a good time to buy good financial stocks. It is not to late!

Easy money on the financials were made the past two days.

 

[ponyo]

Originally posted by: JS80

Originally posted by: Naustica

Originally posted by: JS80

Originally posted by: Naustica

Originally posted by: JS80

Originally posted by: Slew Foot

Originally posted by: JS80

Originally posted by: Slew Foot
Well tomorrow should be interesting. Google, Microsoft, Merril Lynch all miss expectations and are diving in after hours.

20% chance of a HUGE sell-off tomorrow. I'm gonna buy OTM July puts in the morning.

Im thinking the same thing, the ban on naked shorting caused a bunch of people to "drop their shorts" which led to a bit of a short squeeze and a rapid rise in certain sectors. If profits are bad enough , i think some longs are going to collect their profits before the weekend.

Imagine Goog open at 490, and the 470 puts trade at 10 cents and goog goes to 450...lol 200x your money in a few hours.

You think 470 put is going to trade for 10 cents at open? :laugh: If you don't already own the put, good luck. You have to anticipate this kind of things, not react after. :laugh:

You obviously do not understand options. The premium on the options were way too high before earnings. If GOOG opens at 490 all the premium/theta whatever will evaporate and all the options will trade near intrinsic value. An OTM put with such a strike as 470 will trade for cents. Today it was trading at $2+. Notice the difference in premium due to earnings volatility? If I had bought it today at $2, it would go down to 10cents and I would have been a fool. If I wait until after earnings to see reaction at open, I have a chance to hit it big.

What I am banking on tomorrow is that the stock falls to 490 (which is only -8%) at which point I will buy 470 or 480 puts for cents (5c to 25c if I get lucky) and hope that the market erodes precipitously throughout the day (maybe black friday? MER, GOOG, MSFT misses, what if C misses too in the morning?) and end up at 450, which is down only 15%, which is also NOT unreasonable.

Regardless, if I do get in on it for 10 cents, risk reward is pretty good (up to 200x your money in 1 day), especially considering I've seen this happen before.

Like I said, good luck. :laugh:

Aren't you the one buying up carmax? :laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh:

Yup. Position I doubled at 11.76 and now hold 10k shares. Also holding 20 Oct 15 Calls.

 

[Slew Foot]

Originally posted by: IHateMyJob2004
My portfolio was up over 10% on Wednesday. Heavyweight these financial stocks:
BAC
BBT
WFC
USB

Talk about a good time to buy good financial stocks. It is not to late!

Financials are taking a beating in after hours

 

[her209]

Originally posted by: JS80

Originally posted by: her209
OMG, YES!!!! link

LOL stock is DOWN on this news?!?!?! insanity!~

Stock is down because AMD had yet another bigger than expected loss. Good riddance to Hector Ruiz.