***Official*** 2010 Stock Market Thread

[IHateMyJob2004]

JNJ:

This article raises some good points granted I don't agree with everything. It's a reason to atleast look at JNJ:
http://www.istockanalyst.com/article/viewarticle/articleid/4256695

One thing I do agree with is the authors sentiment of the sector that JNJ is in.

 

[lothar]

RSKIA ... Ya that was a Ravi pick that made my eyes explode. He and I had a good back and forth about it at the gurufocus forums when he mentioned it. RSKIA is a fairly easy company to understand. Well run, shareholder friendly. Seems to have a moat albeit small. I win though I've had my limit order in for $4.20 for 6 months it seems! I think I've seen everything from $4.25 and $5 since I put my order in. I have modified my order a bit based on my holdings at the time though. Well, if I buy I'll try to post here so you see that it has dropped some. What were you hoping to pay for it?

I originally put an order for $5,000 worth of shares at $4. Stock didn't make a single trade for 3 days I thought what the heck?
I later modified my order to buy $10,000 worth of shares at $4.20 and closed it a month later after it didn't execute. Maybe I should just go back and live it open, maybe not.

Jesus...The most Illiquid company I've ever known.
Here is the stock volume for the month of June:
June 2nd: 200 shares at $4.30/share. $860
June 2nd: 2,100 shares at $4.25/share. $8,925
June 8th: 2,500 shares at $4.25/share. $10,625
June 23rd: 200 shares at $4.25/share. $850

Only $21,260 worth of shares traded in June this month...

 

[IHateMyJob2004]

RSKIA needs a new term for illiquid. If you have cash and want to buy something, RSKIA is not a bad idea. Worse that can happen is that the order does not fill.

It's still on my short list. If it starts trading below 4, I'll let you know. At that point we might be able to buy in at hte price we want.

I forgot, RSKIA is pretty boring. So boring that I don't think it is going to grow much faster than inflation if even that.

 

[sohcrates]

Today is not gonna be pretty

 

[The-Noid]

If volume is that light, might actually be a stock you want to use an agent/broker for.

 

[The-Noid]

Added to NTRS position to increase exposure to what I consider to be a good financial, in a sector we are very light on.

 

[ultimatebob]

Does anybody else think that shorting Tesla Motors is a good idea? They stand no chance in hell of becoming profitable until they can produce an electric car that costs less than $30,000, which is a LONG way off.

 

[dullard]

Just a heads up: I went all in on stocks in the last few minutes, thus the stock market will almost be guaranteed to plunge in the coming months.

 

[Jassi]

Does anybody else think that shorting Tesla Motors is a good idea? They stand no chance in hell of becoming profitable until they can produce an electric car that costs less than $30,000, which is a LONG way off.

You can't short an IPO for the first 30 days. I read that today so don't shoot me if I am wrong.

 

[Jassi]

Just a heads up: I went all in on stocks in the last few minutes, thus the stock market will almost be guaranteed to plunge in the coming months.

Yep, same. ETFC again.... so yeah, FML.

 

[lothar]

Added to NTRS position to increase exposure to what I consider to be a good financial, in a sector we are very light on.

For once we agree!
NTRS is one of the safest financial I personally know off.

I'm not in any financials at the moment though. I already sold all my ACF and AXP stock weeks ago.

 

[maddogchen]

Just a heads up: I went all in on stocks in the last few minutes, thus the stock market will almost be guaranteed to plunge in the coming months.

Ok! just let us know the day before you sell

 

[The-Noid]

You can't short an IPO for the first 30 days. I read that today so don't shoot me if I am wrong.

You can short an IPO on the date of offering however you have to be able to borrow the shares which is a somewhat difficult to accomplish. There were shares to borrow today though at at least two brokerages.

 

[The-Noid]

For once we agree!
NTRS is one of the safest financial I personally know off.

I'm not in any financials at the moment though. I already sold all my ACF and AXP stock weeks ago.

I rarely comment on individuals though.

Glad to hear we are on the same page. NTRS and State Street appear to be the big winners of finreg as far as I gleamed from reading the drafts.

Shouldn't have to protect deposits when they are already mostly on margin to begin with...

 

[IHateMyJob2004]

Does anybody else think that shorting Tesla Motors is a good idea? They stand no chance in hell of becoming profitable until they can produce an electric car that costs less than $30,000, which is a LONG way off.

Got a coin to flip?

 

[IHateMyJob2004]

Just a heads up: I went all in on stocks in the last few minutes, thus the stock market will almost be guaranteed to plunge in the coming months.

So, you are the cause of the double dip everyone is talking about!

 

[thepd7]

already put in free money yesterday. Question: Chase sent me checks I can write with 0% interest until January, all I have to pay is the 4% fee. If I write $5k to myself and put it in stocks this week do we think I can make 15% in the next few months?

 

[Jassi]

already put in free money yesterday. Question: Chase sent me checks I can write with 0% interest until January, all I have to pay is the 4% fee. If I write $5k to myself and put it in stocks this week do we think I can make 15% in the next few months?

[facepalm]

Don't do it. It's one thing to put in available cash but another to put in borrowed money from a credit card. Get a margin account with a broker.....

 

[FelixDeCat]

already put in free money yesterday. Question: Chase sent me checks I can write with 0% interest until January, all I have to pay is the 4% fee. If I write $5k to myself and put it in stocks this week do we think I can make 15% in the next few months?

From someone who has been there and done that and got the scars to prove it, I would definately say dont gamble with borrowed money. It usually leads to bankruptcy. Whatever someone reccomends (either myself or someone else) will only be speculation, and speculation is one of the hardest ways to make money. Right now I have a $40 call on DNDN that fell from .98 to .29 (luckily I only bought one).

If you want a speculative call from me for money OTHER THAN THIS it would be LVS. Current price is $23, year end target is $30+

 

[HopJokey]

DNDN tanking AH. Anyone know why?

 

[DukeFan21]

DNDN down 20% after-hours on news CMS (i.e. Medicare) will be conducting a review to see if Provenge and similar therapies are "reasonable and necessary"

http://www.cms.gov/mcd/viewtrackingsheet.asp?from2=viewtrackingsheet.asp&id=247&

 

[FelixDeCat]

DNDN down 20% after-hours on news CMS (i.e. Medicare) will be conducting a review to see if Provenge and similar therapies are "reasonable and necessary"

http://www.cms.gov/mcd/viewtrackingsheet.asp?from2=viewtrackingsheet.asp&id=247&

Thankfully I saw the handwriting on the wall and sold my $40 call for .29 cents not long after posting the message above.Obviously a put was the right call here just two days ago. When I bought the call the share price was $37.50 with upward momentum. Now after a huge selloff yesterday and this news to boot Dendreon has crashed to $26 after hours. I was reading that even all the insiders have either been selling shares or buying puts on their positions. That should have been telling.

I hope they recover from this but I have no idea whats going to happen to DNDN now that it will have this Medicare thing hanging over its head.

 

[HopJokey]

Thankfully I saw the handwriting on the wall and sold my $40 call for .29 cents not long after posting the message above.Obviously a put was the right call here just two days ago. When I bought the call the share price was $37.50 with upward momentum. Now after a huge selloff yesterday and this news to boot Dendreon has crashed to $26 after hours. I was reading that even all the insiders have either been selling shares or buying puts on their positions. That should have been telling.

I hope they recover from this but I have no idea whats going to happen to DNDN now that it will have this Medicare thing hanging over its head.

Yep, their CEO Mitch Gold sold 70% of his shares after approval.

 

[thepd7]

[facepalm]

Don't do it. It's one thing to put in available cash but another to put in borrowed money from a credit card. Get a margin account with a broker.....

how much is interest on a margin account? Typically they require about $25k asset in the account right?

 

[eLiu]

Someone tell me why I'm dumb...?

It sounds to me like this should be a buying opportunity for DNDN. The CMS review does not remove coverage of provenge by medicare; it doesn't change way coverage decisions would be made for provenge in any way. I guess now there is increased risk that provenge will be shut down in the future, but it is FDA-approved after all...

So unless there's some indirect effect where the review causes patients/doctors to steer clear of provenge, isn't DNDN still going to make money (in the near term)? It seems like the kind of review being conducted by the CMS will take quite some amount of time, since they're effectively asking for "user feedback" on whether you're having strokes.

EDIT: on that note, does this action by the CMS signal a general policy shift on new, novel drugs? I mean they claim there's the potential for increased incidence of stroke, but given how little time has passed since fda-approval, presumably they're operating on the same info. So shouldn't the FDA have caught on to this if there's a real problem? e.g., should I be afraid that (assuming benelysta gets FDA approval), CMS will open some sort of investigation with HGSI too?

EDIT2: Looks like analysts agree? (for what that's worth, lol) http://notablecalls.blogspot.com/2010/07/dendreon-nasdaqdndn-colour-on-cms-news.html