***Official*** 2010 Stock Market Thread

[richardycc]

Yep they are really MOPping up the market :awe:

I am out of MOPN and put them back into my other .PK, katx.pk, it should get interesting in the near future...am still in the red with dcth calls. ouch.

 

[HopJokey]

I am out of MOPN and put them back into my other .PK, katx.pk, it should get interesting in the near future...am still in the red with dcth calls. ouch.

DCTH is taking a bath. Imagine if the data was "bad".

 

[KDKPSJ]

Looks like market is turning to serious bear slowly. As a perma-bull with enough long position, I am looking at some July 3x Bear ETF calls for hedge. TZA looks like a good candidate since small caps tend to have high beta. Also, may open some VIX calls as well. Any other suggestion??

 

[FelixDeCat]

long lvs 22.50 put .69

Sold today .97, weekend gain 40%.

Now long June 24 call .75. Macau numbers due this week.

 

[KDKPSJ]

Do you guys see any rebound in BP?

 

[DukeFan21]

Ugh. DCTH was a bloodbath today, but so was biotech in general. I got long DCTH ~$13 and held onto my shares through today's sell-off. I do plan on buying more up at these levels and averaging down but am going to wait a tad to see how the markets hold up this week. They do have a couple of investor conferences this week as well. For what it's worth, the CEO was on CNBC today and stated that they plan to have their application to the FDA by October and will get a priority 6-month review for approval

 

[lothar]

Good news.
http://online.wsj.com/article/SB10001424052748703303904575292354163462996.html?ru=yahoo&mod=yahoo_hs
http://finance.yahoo.com/news/Walgreen-ending-CVS-Caremark-apf-616069131.html?x=0

 

[FelixDeCat]

Do you guys see any rebound in BP?

One day? Sure. Anytime soon? Who knows. You might get a rally into the 40s but it is pretty risk IMO as the 20s are also quite possible. Every charge forward has been beaten back to fresh lows, as if people are just waiting to run away with profits and short runups.

I watch it among other stocks on my radar (financials, biotechs, casinos, other), but I would still be wary at this time. If I had a lot of money to invest I might snap up a small amount and average in over time. Better to pay a little more when things improve than to buy too much too soon now.

Possible management shakeup / CEO resignation, dividend elimination questions and daily "woah is us" updates on the national news will keep the price depressed and if either of the first two happen it could be a 5%+ fall or more. Falling oil sure isnt helping either. I could be completely wrong however, so its your call.

 

[lothar]

Do you guys see any rebound in BP?

I'd rather own APC than BP.
BP is nothing but a political target and will continue to be so regardless.

If I wanted a play on this gulf oil spill, I'd look into SandRidge Energy.

 

[IHateMyJob2004]

Do you guys see any rebound in BP?

As a value investor, I will be the first to state that this company is not worth owning. They should focus on fixing the problems, not advertising.

Buy SD instead. It's gotten beaten up almost as much but it's only terrestrial and it has a HUGE NG supply. They are not tapping NG right now as much as they could because of pricing. Oh, Lothar agrees! man, I like Lothar. Having seen him over hte past year or two, the guy knows how to intelligently invest.

 

[FelixDeCat]

Now long June 24 call .75. Macau numbers due this week.

Still own the June 24 @ .75, picked up a June 25 @ .29

edit: Sold June 24 @ 1.12, June 25 @ .64

currently neutral

 

[Jassi]

Would anyone mind sharing some of their DD on SD or APC?

SD's financial statements don't look that appealing. What do you guys see that I've missed?

 

[Dubb]

At the moment I'm principally looking for solid companies in LED technology that aren't Cree. LSCG is an oddball I kind of like, but I haven't made any concrete decisions. Might not be the right time yet.

Time to kick myself for missing another one. I eventually decided that there wasn't enough info available on LSCG and that it would likely be a few years before the promise came to pass. Passed on a few opportunities @ < .80 in march .... now at 2.40 and climbing.

 

[PimpJuice]

I bailed on RMBS....took my profits and jumped ship.

Its too much of a crapshoot with these delays.

 

[HopJokey]

Bad news for RMBS. It looks like the CAFC decision has been delayed. New hearings set for October 2010.

 

[Azurik]

CAFC decision on joint cases (RMBS vs HYNIX in CA, RMBS vs MU in DE) to be reheard in October 2010.

Delay, delay, delay...

 

[FelixDeCat]

Speculators now think BP goes to ZERO!!

I do not plan to take a bite on BP puts or calls as it is too risky right now and frankly they scare me! But the put options have been nothing but WIN on BP all they way down.

This reminds me of the good old days when I shorted AIG as a momentum short and did well. It was so much fun. Same thing for FNMA and FHLMC. Ironically, I made more going long news of rescues back in 2008. I bought 15000 shares of FHLMC (A company I reported to for 17 years) for 3.85 at 9am and sold it all for 6.90 by 1pm. Ahhh the good old days.

You do have to be careful though as money quickly made is usually money quickly lost.

 

[Jassi]

Speculators now think BP goes to ZERO!!

I do not plan to take a bite on BP puts or calls as it is too risky right now and frankly they scare me! But the put options have been nothing but WIN on BP all they way down.

This reminds me of the good old days when I shorted AIG as a momentum short and did well. It was so much fun. Same thing for FNMA and FHLMC. Ironically, I made more going long news of rescues back in 2008. I bought 15000 shares of FHLMC (A company I reported to for 17 years) for 3.85 at 9am and sold it all for 6.90 by 1pm. Ahhh the good old days.

You do have to be careful though as money quickly made is usually money quickly lost.

If BP tries to organize a bankruptcy to bail on the clean up costs and damages and the government does nothing..... wow, I'm speechless. This is BS. Heads should roll.

 

[FelixDeCat]

If BP tries to organize a bankruptcy to bail on the clean up costs and damages and the government does nothing..... wow, I'm speechless. This is BS. Heads should roll.

Ok, Ive overcome my fear and bought a 27.50 put on BP for 1.39. So I have 149 with commission at stake. Not a big position so Im not that worried, but if the shorts can break $30 look out below.

 

[The-Noid]

Yeah for sht on RMBS!

 

[FelixDeCat]

Ok, Ive overcome my fear and bought a 27.50 put on BP for 1.39. So I have 149 with commission at stake. Not a big position so Im not that worried, but if the shorts can break $30 look out below.

Sold for 2.20. No need to be greedy. But $25 might now be a real possibility.

 

[Dubb]

Quick glance, BP has lost around $90 billion in value since the start of all this.

That seem excessive to anyone else? I don't follow oil companies...but does anybody seriously think BP could go under?

 

[PimpJuice]

Quick glance, BP has lost around $90 billion in value since the start of all this.

That seem excessive to anyone else? I don't follow oil companies...but does anybody seriously think BP could go under?

They wont go under, but they will stay way down for quite a while IMO

 

[Alienwho]

I'm sure glad I didn't jump on the BP @ $42 bandwagon from a few weeks ago.

 

[IHateMyJob2004]

Everyone do yourselves a favor, and buy USG at $16. Then take a nap and sell it in the mid $20s.