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October Stock Talk II

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Posted: #51
So they are all cutting and the Fed funds is going down 1/2 to 1.5%, and all of the Euros are going along with it. Fed to go down as far as 1/2 of 1%...



 
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Posted: #52
2 day bounce?

 
Prospect
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Posted: #53
2 day bounce would be great. 
 
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Posted: #54
We'll see what happens today.  Going to be one wild, wild Wednesday.
 
For trading, it is way too late to go short, but am not saying at all that the SPY and UYG can't take several more ass-reamings in a row----oh yes they can.
 
The trade is to get long, but God only knows when-----am loaded and ready, but am not going to try to guess it and get crushed.  Will let the price/volume tell me, cause it will.
 
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Posted: #55
Since the latest bailout pakage (emergency rate cut) for Wall Street babies, the DOW, SP, and NAS futures have been all over the place.
 
Everyone and his dog is trying to guess the bottom, and that tells me to stay the hell out of that game, cause about 95% of those peeps will get it wrong.
 
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Posted: #56
Looks like we have some sort of anemic bounce today.
 
For a trade only, am getting on the UYG bandwagon.
 
3000 x 12.00 with stop at 10.00 (God help me that doesn't hit).
 
But we really need total and complete capitulation for any bounce to last longer than a few hours.
 
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Posted: #57
What am on my knees praying for is just an easy, steady upward climb all day.
 
Don't need 300 point swings in 40 minutes.....just a nice, steady, easy climb for a net one point gain for UYG with no stress and land mines all over the place.
 
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Posted: #58
First land mine of the day..........
 
Iceland
 
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Posted: #59
Iceland is broke!!
 
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Posted: #60
Pending home sales up over 7% last month and the market sells off

WTF??
 
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Posted: #61
Yep, looks bleak for UYG today. 
 
Am going to take stop up from 10.00 to 11.00.  No need to lose 6 gees when I can lose only 3.
 
The Iceland news threw cold water on everything.
 
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Posted: #62
Since, you guys have a lot more market experience than I do...WAY MORE...what typically happens in a situation where the stock I'm on is announcing 3Q earnings Oct 27th.  Well, will it take a nose dive worse than usual if the reports are bad with this kind of market or what?
 
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Posted: #63
It depends on what it is, how bad/good the earnings are, what the general mood in the market it that day and anything else that may affect peoples moods.

I think most people know that earnings are going to be shyt this quarter since it reflects the highest gas/commodities prices.
 
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Posted: #64
CCL-
 
GL on UYG
 
 
 
 
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Posted: #65
I just took a gamble on some XLF November $17 calls for a trade.  i'm ready for a bounce.  I'll let you know what I do. 
 
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Posted: #66
Quote Originally Posted by Gunners:

I just took a gamble on some XLF November $17 calls for a trade.  i'm ready for a bounce.  I'll let you know what I do. 


I can't justify paying that high of a premium for something that has to move over 30% just to get to even.

I've pretty much abandoned buying options for the last week because of those ridiculous premiums that come with a VIX over 50.
 
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Posted: #67
k we plummet...and prove just how pathetic these efforts are...
 
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Posted: #68
Hat,

I think the earnings will be ok..I saw that release date then too.

Market doesnt want to go up for anything.
 
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Posted: #69
KMP is yielding 9%


 
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Posted: #70
Hat-
 
Thanks, man, but I got stopped.  I'll look again when it gets 9ish.
 
Right now, as a trader, you got to be able to take ass-reamings----that means MAKING SURE, no matter what you do, that you will keep bullets in the holster.  I do know this-----when the selling is over, I can make 3 gees easily, and a lot more than that in the short covering frenzy that is yet to come.  It's coming, and we HAVE to be ready, cause this will probably be the last opportunity for maybe years, cause the economies of the world will go nowhere pretty much.
 
To answer your earlier question, everyone knows Q3 earnings and what's to come is going to be horrible-----that won't move the averages one bit.  The announcement that "credit is moving again" is what will touch off a short covering bomb-----it's coming.  Yeah, it won't last but about 1-2 days, but you could see averages literally move 800 to 1000 points in 2 days, then it'll be over and back to being negative and selling.  Way it works, man.
 
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Posted: #71
I'm not big on options at all, but with expiration in 8 trading days, I am looking at some October calls in case this short covering bomb goes off in that time.
 
Of course, though, the split-second the makers know what's going, premiums and spreads will be adjusted a hell of a lot faster than the speed of light, so I'll stick with the deep in the moneys, but I want is MASSIVE leverage, cause this type of trading opportunity ain't going to come back once it's gone.
 
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Posted: #72
Interesting watching the Scottrade high/low streamer..usually I know most symbols which are going to come up but today there are quite a few I hadnt seen before so I go to check them out and lots of close ended funds and trusts getting hit today, like HTE which is an energy trust and has a yearly range of almost 30 to 8.40 and is on the lows, supposedly yielding 40% at these prices.

Lots of liquidation selling from institutions going on, of course on the lows everything is getting sold.
 
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Posted: #73
wall - rumor has it a very large energy player is liquidating an assload today

hint: he does commercials and his name isnt aubrey mcclendon
 
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Posted: #74
Crazy stuff, WSC.
 
Never seen anything close to this before in my life.
 
What we do know are these:
 
1) FEAR and PANIC are at crescendo type highs (yes, they could go higher).
2) There are some MASSIVE short positions that are sitting on HUGE gains (yes, they could just leave them, but they are as greedy as the next one and will cash out and pay Uncle Sam with these types of gains).
3) Technically, even the most bearish person would say the charts are "oversold" (yes, fundamentalists could naysay).
 
Crazy stuff, man.  Ever seen something like this, before?
 
 
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Posted: #75
Yeah, T Boone Pickens just got his ass handed to him.
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