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January Stock Talk Part IV

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Covers Linesmen
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Posted: #101
I wouldnt bet against the builders, they have been smashed and I have to think anything short of BK is almost priced in..

haha
 
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Posted: #102
Quote Originally Posted by wallstreetcappers:

I wouldnt bet against the builders, they have been smashed and I have to think anything short of BK is almost priced in..

haha


 One does have to wonder if the worst isnot priced in....at least of them, as we discussed previously wall, TOL and RYl...

 As for SKF, it has had a real run from intial interest, and I wonder at what point the market in financials bottoms. If not now, when? I think there is more bad news to come after this mini rally...but...be careful.

 Does everyone think the Fed cuts an additional 50 basis pts in the near future (ie next meeting)... (not whether they should,but if they will)...

 
 
Legend
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Posted: #103
Vermeer, 50 is a minimum, probably another 75.
 
Covers Linesmen
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Posted: #104
down 326

up 90


 
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Posted: #105
how is wachovia up 13% in one day?  that is craziness. 
 
Covers Linesmen
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Posted: #106
Up 200??


 
Covers Linesmen
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Posted: #107
250


 
Legend
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Posted: #108
What the hell is going on here now?
 
Covers Linesmen
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Posted: #109
Program trading..

Longs and computers trying to fry the shorts.

Way oversold conditions, computers kick in and kick some butt.
 
Legend
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Posted: #110
walls, is correct. just a rally in a bear market and running in some late shorts.
 
it will not last
 
Legend
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Posted: #111
So then you go short right now, right?  Are you certain?
 
Legend
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Posted: #112
Art Cashin just on CNBC saying that technical players looking at a possable "double bottom" and it could contine higher for awhile of the short-intermediate term oversold but IF the volume drys up, it could reverse and head down hard again.
 
does kind of look like the long awaited "washout-reversal" though so it could have some legs, at least for a few days
 
but I still think we are longer term DOWN.
 
Legend
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Posted: #113
I will wait, depeche.
 
and I am never completely "certain" about ANYTHING about ANY market. that's why I completely missed the excellent play on the QID the end of December. I thought they would go lower than the 36 area in early January. instead they went straight up and topped out short term today @ 56.49
 
makes me want to suck on my 357.
 
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Posted: #114
what a crazy day.  I shot way too early on SKF, unfortunately.  But i'm not too worried about it.  No way these banks can keep rallying at 13% a day.  i think it is likely that they come down and I can at least get out of SKF at breakeven or some profit.  these institutions didn't get saved in one day. 
 
luckily, i sold out of my SMN position at the absolute high of the day.  when the market was down 300, i sold at 59.50 (high of the day was 59.60).  the profit i made there made up for more than the drop i received in SKF. 
 
I also opened that HANS position which went up today, and it will continue to sgo up with these bounces, and it seems it doesn't go down as much as other stocks on the sell offs.  i like it as a hedge to my bearishness.  my CMO long is just cruising along wonderfully, and will benefit from anymore rate cuts.  CRDC had some nice late day action as well.
 
I lost on SCC today, but am still holding.  i haven't fallen in love with this guy and will take a loss if i need to, but i'm not too worried about these short positions.  i think we will at least get back to today's lows once more.  more likely that we will go even lower.  DOW is now down 7% on the year.  not exactly a huge decline. 
 
Anyway, i've been pretty happy with my trading so far this year.  i am up over 10% YTD.  not sure i can keep that up and end up 120% for the year, but damn it'd be sweet.  My shorts have been mostly successful and i think i've entered into some special longs with CMO, CRDC, and HANS.
 
many thanks to all on the board, for i would not know shit at this point if i didn't watch you guys in action since May 07. 
 
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Posted: #115

 BRKB with a nice move upwards...whoops it never fails, as I type it falls..sheesh...

 On a side note, I love ribbon speakers...

Almost went nuts the other day and bought CC on the theory of how low can it really go?? I never liked that theory, but someone has bought into them.

Think this thread is done, I await whomever to start another..with this market craziness rules.

 Speaking of craziness, giving "taxpayers" $300 a pop is to me rather ridiculous.Not that I will turn it down.But really, let's make it a grand a piece, empty suits in DC get that in graft each day.

 





 
Covers Linesmen
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Posted: #116
fwiw - mkt rally yesterday is because:

-double bottom btw 12-1pm (technicians)

-NY AG called a meeting with some big wigs to work on a plan to bailout the monoline insurors (MBI, ABK, SCA, AGO, etc)
 
Covers Linesmen
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Posted: #117
I loved this movie, but it isnt a movie this time-

LINK

Rogue Trader
 
Prospect
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Posted: #118
Quote Originally Posted by KOAJ:

fwiw - mkt rally yesterday is because:

-double bottom btw 12-1pm (technicians)

-NY AG called a meeting with some big wigs to work on a plan to bailout the monoline insurors (MBI, ABK, SCA, AGO, etc)

 

Do you believe that was a double bottom?  I was thinking we get a hard rally tomorrow based on MSFT results tonight, which may set-up a nice play in SDS.  I also feel (hope) the financials are overbought as well.  SDS is getting very close to it's high/low 52 week average.  I simply refuse to think the worst is behind us and we rally from here.

As most of you probably heard, that NY official may have really screwed things up with his meeting, causing a huge run-up in share prices, so much so, that no private equity firm(s) will touch them at these levels, where before they might have.

 
All-Star
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Posted: #119
Sold my 2,000 shares of C today, basis---- (1000 x 28ish and 1000 x 24ish) at a small gain (27ish).
 
Glad to be out of it.
 
Hope everyone is doing well.
 
Cheers
 
Prospect
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Posted: #120
I sure hope I didn't miss the bottom in the financials.  I was very close to pulling the trigger on JPM Tuesday, but they all rallied before I knew what happened. 
 
Prospect
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Posted: #121
Did you guys see imb today....pretty crazy last 20 minutes.  Not sure if i should run or sell new calls against them.  DRY was one I know ws liked....do you think the no-go on the split a good move?  Been extremely at chucks house, etrade clients bringin in new assets like crazy, not sure how that will be reflected come earnings day....... good luck all!
 
 
Covers Linesmen
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Posted: #122
Grinder,

I REALLY REALLY hope you didnt sell calls against IMB..


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