***Official*** 2008 Stock Market Thread

[ponyo]

Lothar, I opened a position in Leucadia National at $42.86. You hyped them so much I bought it. It went into my longterm acct as I'm not looking to trade it. These guys do have a quite impressive track record.

 

[bennylong]

Man, I lost close to everything gambling on Bank stocks...oooooooooooooooooh fudge. Even with BAC up over 20% in 2 days, I'm still down 30%....oooooooooooooh fudge

 

[imported_Lothar]

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

What the hell is the difference between a "Chairman" and an "Executive Chairman"?
Seems to me that the company doesn't want to admit their mistakes yet by creating a brand new position for Hector Ruiz.

 

[imported_Lothar]

Originally posted by: Naustica
Lothar, I opened a position in Leucadia National at $42.86. You hyped them so much I bought it. It went into my longterm acct as I'm not looking to trade it. These guys do have a quite impressive track record.

I haven't bought or sold a share in that company since late 2006.

Leucadia National is one of those "hold forever" Buffett companies IMO. As long as both managers are still alive and running the company, I see no reason to sell the stock.
I wish I had sold some when I call it that they were overpriced at $51/share earlier in this thread to repurchase now but alas.

On an off note, WSJ reports that TEVA just bought Barr. Kick ass.

 

[Slew Foot]

Just for giggles I bought some google puts for 25 cents, lets see where this goes today

 

[JS80]

Originally posted by: Slew Foot
Just for giggles I bought some google puts for 25 cents, lets see where this goes today

AHHHHH I FORGOT TO WAKE UP AHHHHHHHHHHHHHHHHHHHHHHH

which one did you get?

 

[ponyo]

Busy, busy day and busy morning. I booted large chunk of CarMax shares I picked up in the abyss and all of the options. There must have been desperate short covering as they bought my shares in the premarket before the open at $15.40. Calls sold at open for $1.50. Also booted WaMu stock and Wachovia calls. All had nice runs and I wanted to lock these in and free up some capital for the eventual retest down. I was choking from overexposure. Now I'm stronger than ever and looking to buy into weakness.

 

[Slew Foot]

Originally posted by: JS80

Originally posted by: Slew Foot
Just for giggles I bought some google puts for 25 cents, lets see where this goes today

AHHHHH I FORGOT TO WAKE UP AHHHHHHHHHHHHHHHHHHHHHHH

which one did you get?

I picked up 470 strike for today at market open when GOOG was around 493, sold it at 30 cents as GOOG was touching 478, meh.

Goog took a huge dive and then traded mostly flat, i think i made $100 or so, I guess Ill take the wife out.

Keeping everything else stable for now, i may sell off some energy related things. I'd be looking into picking up long term players in a couple months.

 

[JS80]

Originally posted by: Slew Foot

Originally posted by: JS80

Originally posted by: Slew Foot
Just for giggles I bought some google puts for 25 cents, lets see where this goes today

AHHHHH I FORGOT TO WAKE UP AHHHHHHHHHHHHHHHHHHHHHHH

which one did you get?

I picked up 470 strike for today at market open when GOOG was around 493, sold it at 30 cents as GOOG was touching 478, meh.

Goog took a huge dive and then traded mostly flat, i think i made $100 or so, I guess Ill take the wife out.

Keeping everything else stable for now, i may sell off some energy related things. I'd be looking into picking up long term players in a couple months.

I picked up a few 470s for 10 cents. Let's play some roulette!

 

[Azurik]

You know... the market is actually have a pretty damn good day all things considered... another down day in oil too!

 

[Slew Foot]

Originally posted by: JS80

Originally posted by: Slew Foot

Originally posted by: JS80

Originally posted by: Slew Foot
Just for giggles I bought some google puts for 25 cents, lets see where this goes today

AHHHHH I FORGOT TO WAKE UP AHHHHHHHHHHHHHHHHHHHHHHH

which one did you get?

I picked up 470 strike for today at market open when GOOG was around 493, sold it at 30 cents as GOOG was touching 478, meh.

Goog took a huge dive and then traded mostly flat, i think i made $100 or so, I guess Ill take the wife out.

Keeping everything else stable for now, i may sell off some energy related things. I'd be looking into picking up long term players in a couple months.

I picked up a few 470s for 10 cents. Let's play some roulette!

How'd that treat ya?

 

[JS80]

Originally posted by: Slew Foot

Originally posted by: JS80

Originally posted by: Slew Foot

Originally posted by: JS80

Originally posted by: Slew Foot
Just for giggles I bought some google puts for 25 cents, lets see where this goes today

AHHHHH I FORGOT TO WAKE UP AHHHHHHHHHHHHHHHHHHHHHHH

which one did you get?

I picked up 470 strike for today at market open when GOOG was around 493, sold it at 30 cents as GOOG was touching 478, meh.

Goog took a huge dive and then traded mostly flat, i think i made $100 or so, I guess Ill take the wife out.

Keeping everything else stable for now, i may sell off some energy related things. I'd be looking into picking up long term players in a couple months.

I picked up a few 470s for 10 cents. Let's play some roulette!

How'd that treat ya?

I guess I'll skip that steak dinner this month.

 

[Azurik]

Originally posted by: JS80

Originally posted by: Slew Foot

Originally posted by: JS80

Originally posted by: Slew Foot

Originally posted by: JS80

Originally posted by: Slew Foot
Just for giggles I bought some google puts for 25 cents, lets see where this goes today

AHHHHH I FORGOT TO WAKE UP AHHHHHHHHHHHHHHHHHHHHHHH

which one did you get?

I picked up 470 strike for today at market open when GOOG was around 493, sold it at 30 cents as GOOG was touching 478, meh.

Goog took a huge dive and then traded mostly flat, i think i made $100 or so, I guess Ill take the wife out.

Keeping everything else stable for now, i may sell off some energy related things. I'd be looking into picking up long term players in a couple months.

I picked up a few 470s for 10 cents. Let's play some roulette!

How'd that treat ya?

I guess I'll skip that steak dinner this month.

Everyone misses

I had an okay week. My slight over exposure to bonds is killing me... what is suppose to be a safety net from stocks crashing is getting really hurt by inflation readings. I'm still handidly outperforming the market again this year though, but lets not talk about my non-retirement accounts, that's a different story.

 

[ponyo]

Originally posted by: Azurik
You know... the market is actually have a pretty damn good day all things considered... another down day in oil too!

Perception is reality in the market place. Like I said, people's psychology has changed. Look at Freddie today. They announced they're doing highly dilutive 5.5 billion dollar stock raising with talks of it being $10 billion. Week ago, stock would've got crushed and would've went down 25-50%. Today, it closed up 10% after being up almost 20%. This is after being up more than 100% from the low couple days ago. That's an important tell.

Citigroup earnings? Do you think people really would've cared a week ago? They would've have crushed it no matter what. Today, they cheer the turd even though it stinks.

I can smell the greed and the performance anxiety of all the sideline players and funds as they missed the massive reversal. Even the ones that caught it still want more. They will push the market higher. I see many people here are still skeptical of this rally. The more the merrier and that means the market has more legs. Like I said, I think the Tuesday morning reversal was the near term "bottom" and pullbacks should now be bought. This the tradeable rally we discussed and it will have more legs than doubters imagine. I'm buying pullbacks with the stop placed at the Tuesday low. Time to jump off this Bear rally is when everyone says coast is clear and the water is safe. We've quite a ways to go before we get there.

 

[Special K]

Originally posted by: Azurik

Originally posted by: JS80

Originally posted by: Slew Foot

Originally posted by: JS80

Originally posted by: Slew Foot

Originally posted by: JS80

Originally posted by: Slew Foot
Just for giggles I bought some google puts for 25 cents, lets see where this goes today

AHHHHH I FORGOT TO WAKE UP AHHHHHHHHHHHHHHHHHHHHHHH

which one did you get?

I picked up 470 strike for today at market open when GOOG was around 493, sold it at 30 cents as GOOG was touching 478, meh.

Goog took a huge dive and then traded mostly flat, i think i made $100 or so, I guess Ill take the wife out.

Keeping everything else stable for now, i may sell off some energy related things. I'd be looking into picking up long term players in a couple months.

I picked up a few 470s for 10 cents. Let's play some roulette!

How'd that treat ya?

I guess I'll skip that steak dinner this month.

Everyone misses

I had an okay week. My slight over exposure to bonds is killing me... what is suppose to be a safety net from stocks crashing is getting really hurt by inflation readings. I'm still handidly outperforming the market again this year though, but lets not talk about my non-retirement accounts, that's a different story.

Your retirment accounts are outperforming the market this year? What do you hold in those? Every choice offered in my 401k is down YTD. There isn't any fund or combination of funds in my 401k plan that would be ahead right now.

Maybe I just have a lousy plan?

 

[her209]

Hahahaha... this is claaaaassic.

http://proxyfacts.yahoo.com/

 

[JS80]

Originally posted by: her209
Hahahaha... this is claaaaassic.

http://proxyfacts.yahoo.com/

hhahahahaha

 

[Azurik]

Originally posted by: Special K

Originally posted by: Azurik

Originally posted by: JS80

Originally posted by: Slew Foot

Originally posted by: JS80

Originally posted by: Slew Foot

Originally posted by: JS80

Originally posted by: Slew Foot
Just for giggles I bought some google puts for 25 cents, lets see where this goes today

AHHHHH I FORGOT TO WAKE UP AHHHHHHHHHHHHHHHHHHHHHHH

which one did you get?

I picked up 470 strike for today at market open when GOOG was around 493, sold it at 30 cents as GOOG was touching 478, meh.

Goog took a huge dive and then traded mostly flat, i think i made $100 or so, I guess Ill take the wife out.

Keeping everything else stable for now, i may sell off some energy related things. I'd be looking into picking up long term players in a couple months.

I picked up a few 470s for 10 cents. Let's play some roulette!

How'd that treat ya?

I guess I'll skip that steak dinner this month.

Everyone misses

I had an okay week. My slight over exposure to bonds is killing me... what is suppose to be a safety net from stocks crashing is getting really hurt by inflation readings. I'm still handidly outperforming the market again this year though, but lets not talk about my non-retirement accounts, that's a different story.

Your retirment accounts are outperforming the market this year? What do you hold in those? Every choice offered in my 401k is down YTD. There isn't any fund or combination of funds in my 401k plan that would be ahead right now.

Maybe I just have a lousy plan?

Not that you have a lousy plan, I just got lucky in timing. I moved to bonds late last year and not only avoided the first leg downward, but was actually up a bit since bonds were a little over 50% of holdings. I moved into majority stock a couple months ago, but both stocks and bonds have been doing poorly this period. You know the story with stocks and bonds have been hurt by inflation figures so it hasn't been as great lately. I think the market is down around 13% or so while my retirement accounts are down 6%.

 

[sniperruff]

i feel that financials should go down again. i don't think a rally fueled by the "eh things are not as terrible as the analysts thought" sentiment will last.

 

[ponyo]

Originally posted by: sniperruff
i feel that financials should go down again. i don't think a rally fueled by the "eh things are not as terrible as the analysts thought" sentiment will last.

My feeling is financials and the banking index will ultimately trade much lower. Lower than our recent lows and many more will cease to exist. But that doesn't mean it can't first rebound and trade higher near term. I'm expecting the market to trade range bound with an upward bias til Sept/Oct where seasonality fear will reappear along with the Fed raising the rates. Charts will play critical role as stocks will likely stall at the past support. Lot of people are underwater and suffering and will sell at the first chance of break even or close to it. That supply will take some time to work through as stocks try to break free. My game plan is to look at the charts and buy at the low support range and to sell as it comes up on previous support/resistance. Rinse and repeat. Most stocks will likely fail at the first attempt to break through resistance. Second or third time could see breakthrough and further rise until the next resistance point. Could be a good time to sell some covered calls on your positions. If you're real aggressive, you could play both ways on the trading range.

 

[her209]

That was certainly a stupid move by Yahoo.

They also took down the http://proxyfacts.yahoo.com website.

 

[imported_Lothar]

Originally posted by: her209
That was certainly a stupid move by Yahoo.

They also took down the http://proxyfacts.yahoo.com website.

Yahoo would have lost if they went ahead.

 

[IHateMyJob2004]

Originally posted by: sniperruff
i feel that financials should go down again. i don't think a rally fueled by the "eh things are not as terrible as the analysts thought" sentiment will last.

What about value?

 

[imported_Lothar]

Originally posted by: Lothar

Originally posted by: her209
That was certainly a stupid move by Yahoo.

They also took down the http://proxyfacts.yahoo.com website.

Yahoo would have lost if they went ahead.

More on Yahoo.
http://www.bloomberg.com/apps/...4vUQYmlcodU&refer=home

Expect a bad quarter.
If MSFT and GOOG had a bad one, I expect YHOO to have a bad one as well.

 

[alphatarget1]

Sold BAC today at around 32. This market is freaking nuts... BAC's low was 18.44 a week ago.