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[Ether_Snake]

Well yeah it is rising non-stop so far, only around 3% but it's a continuous trend up. ABX up 5%.

STP down 11% after Friday's 10% drop:|

ATVI down almost 7%.

Shit day of crap!

 

[lil smoke]

You should just hold your ten shares. Can't fall very much further, IMO, and it should do well over the long run. I'm just saying that if you gain or lose 30 bucks, it's only a 60 dollar difference to you. Might as well hold.



Not really; at least not the GLD etf.

Well I'll probably add more to it tonight depending on what happens. I don't mind the $30-40 though. It's small time, but it's also very small risk for a noob like me. But at 52, I should have taken advantage... now that you're rubbing it in :lol

 

[gkryhewy]

Well I'll probably add more to it tonight depending on what happens. I don't mind the $30-40 though. It's small time, but it's also very small risk for a noob like me. But at 52, I should have taken advantage... now that you're rubbing it in :lol

It's still at 52. Believe me, I'm no expert - I've been a total loser this year. Last year up a net of $1000; this year down a net of $700. So a big waste of time, essentially. :lol

EDIT: Why the hell are Wachovia shares at $500 now? Just a listing glitch, I assume.

 

[Fatalah]

So who's snatching up Apple shares right now?

 

[mollipen]

So who's snatching up Apple shares right now?

I wish I was braver to buy more than I am. I want to pick up another 20 or so shares, but I'm trying to decide if I jump in at $108 or just wait a bit longer to see if it drops any more.

 

[lil smoke]

So who's snatching up Apple shares right now?

Been stroking my chin and hitting refresh on it all morning. I'd be pissed if I do nothing and the day closes with it back up near 120. oops

edit: after seeing 107, 109 doesn't look as attractive.

 

[Fatalah]

Been stroking my chin and hitting refresh on it all morning. I'd be pissed if I do nothing and the day closes with it back up near 120. oops

edit: after seeing 107, 109 doesn't look as attractive.

I'm calling it now, it's going to be back to 120 by 11:30. Let's see...

 

[Ether_Snake]

Ubisoft down 12%.

DOOMED!!

 

[gkryhewy]

Ubisoft down 12%.

DOOMED!!

That doesn't even make sense. I think all of these major gaming firms with depressed shares are very good buys right now. To the extent that ANYTHING is a good buy in this market.

 

[Ether_Snake]

Now back -9%.

I don't know if anything is a good buy now, it's difficult to say how bad things will get. Economic downturn of super powers is not like economic downtern of Thailand or Sweden.

 

[Tarazet]

Bought a call on Apple, APVJF at $3.40, strike $130. Let's see what happens.

 

[lil smoke]

Bought a call on AAPL. Let's see what happens.

Yeah I JUST bought just a few myself.

 

[gkryhewy]

Bought a call on Apple, APVJF at $3.40, strike $130. Let's see what happens.

Can you please explain what this means?

 

[Tarazet]

Can you please explain what this means?

Call option expiring October 18, giving me the right to buy 100 shares of AAPL at $130. The price of 3.40 means I paid $340 plus commission. I'm betting on the price rising, because it fell so far in the early going today.

 

[kathode]

Put option expiring October 18, giving me the right to sell 100 shares of AAPL at $130. The price of 3.40 means I paid $340 plus commission.

Was it a put or a call?

 

[gkryhewy]

Put option expiring October 18, giving me the right to sell 100 shares of AAPL at $130. The price of 3.40 means I paid $340 plus commission. I'm betting on the price rising, because it fell so far in the early going today.

And if the price does rise to 130, what would your earnings be?

 

[Tarazet]

Was it a put or a call?

Sorry, call option.

 

[Tarazet]

And if the price does rise to 130, what would your earnings be?

Edited post above, I had it turned around but I knew what I meant.

Depends on market demand. If it takes until October 18 to rise to $130, then I'll lose out. If I sell it before that to someone else who is also betting it will hit $130, then the sky's the limit. If it hit $130 today I would probably make somewhere in the realm of 3x my investment.

 

[gkryhewy]

Edited post above, I had it turned around but I knew what I meant.

Depends on market demand. If it takes until October 18 to rise to $130, then I'll lose out. If I sell it before that to someone else who is also betting it will hit $130, then the sky's the limit. If it hit $130 today I would probably make somewhere in the realm of 3x my investment.

Thanks.

EDIT: NTDOY down 7% to ~51.50. This is a GREAT buy, maybe even to flip tomorrow, since intraday prices in the US don't really matter - its Nikkei trading controls its US opening prices. I don't see the Nikkei dropping this another 7% tonight after 3.5% last night.

 

[Ether_Snake]

I'm wondering if I should get of ABX at this point. I doubt the demand for minerals/precious metals will rise soon.

 

[Tarazet]

So let's see, here's how my first few options trades have played out.

HBC $70 put - bought 8 at 1.00, sold 7 at 1.10 and 1 at 0.80 (+$28.48)
HBC $80 call - bought 1 at 3.30, sold at 4.00 (+$60)
HBC $95 call - bought 8 at 0.20, currently 0.20 (+-0)
HBC $80 put - bought 1 at 3.30, sold at 4.40 (+$100)
AAPL $130 call - bought 1 at 3.40, currently 3.10 (-$30)

So my account is up about 17% in a week, though I still have downside risk on everything that's open the longer it's open.

 

[lil smoke]

AAPL $130 call - bought 1 at 3.40, currently 3.05 (-$35)

So what if you proposed say, $115 and it hit today? What would the profit look like then?

 

[Tarazet]

So what if you proposed say, $115 and it hit today? What would the profit look like then?

The strike price isn't a magical number unless you actually plan to use it to buy (or sell) 100 shares, which is what it's meant for. In terms of actually using it, the call option I have is worthless because it's so far out of the money. If I bought 100 shares of AAPL at $130, at the current prices, I would lose about $2000, so the intrinsic value is zero (if you bought it, you would have to let it expire worthless to keep from losing more money). So it's really pure, unbridled speculation, and the money I'm counting on is that of another speculator who is willing to pay more for slightly less risk when the price recovers to, say, $120.

 

[lil smoke]

The strike price isn't a magical number unless you actually plan to use it to buy (or sell) 100 shares, which is what it's meant for. In terms of actually using it, the call option I have is worthless because it's so far out of the money. If I bought 100 shares of AAPL at $130, at the current prices, I would lose about $2000, so the intrinsic value is zero (if you bought it, you would have to let it expire worthless to keep from losing more money). So it's really pure, unbridled speculation, and the money I'm counting on is that of another speculator who is willing to pay more for slightly less risk when the price recovers to, say, $120.

Ah, I see. Don't know if I'm ready to get into options, but it's interesting.

Where's the guy who promised $120 before noon ! Aint happening, probably not at all today.

 

[toxicgonzo]

I bought in to Fannie Mae (FNM) friday @ $1.85 expecting weekend news of the bailout to have some kind of effect.

Then, this morning I set a stop order for $1.87 and it triggered. Oh well, at least I got my broker fees covered.



I'm going to buy in again this week. The real question is what day should I do it? The bailout vote is on wednesday. I'm thinking that's the day to do it because the market will rally thursday.

 

[Tarazet]

Sold my HBC put for a tidy gain of $100 after commissions. I'm now officially bull only, which could come back to bite me in the ass. I have limit orders to close out everything at reasonable prices.

 

[ArtG]

I'm somewhat interested in going long into Amazon...but I don't think I want to get in before they report their earnings on the 22nd of October. I doubt their earnings or guidance will be good enough to justify their current P/E ratio.

GME is another I might want to get into as well.

 

[Tarazet]

The NASDAQ is getting hit a lot harder than the industrials today, down 100 points and over 4.5%.

 

[dionysus]

The NASDAQ is getting hit a lot harder than the industrials today, down 100 points and over 4.5%.

I guess recession wasn't fully discounted. I thought recession with a bailout was fully discounted, and depression without a bailout wasn't discounted in current prices. Obviously, I was wrong, even though Congress passed a piss poor bill. Thought we would rally today with a selloff tomorrow.

 

[Tarazet]

Looks like I sold my HBC put at the right time, the stock shot up two dollars around 12:45 and the put promptly lost $50 in value.

 

[kathode]

The NASDAQ is getting hit a lot harder than the industrials today, down 100 points and over 4.5%.

Mostly do to the AAPL bomb and its collateral damage, I'd wager. Along with market sentiment of course.

 

[Ether_Snake]

Bailout might not pass, they are requesting a recorded vote, there was almost as much "Nay" as "Yay" when I heard it. The speaker said it passed, then there was objection, so they are going for a recorded vote. Just by hearing the Yays/Nays I could not have said if it went one way or the other.

15 mins till we know. Check C-Span.org live broadcast.

http://www.c-span.org/Watch/C-SPAN_wm.aspx

 

[kathode]

I can't even load the CNN bailout page or that live CSPAN stream. Crazy times.

CNN says the DOW is down over 600 but Scottrade has it at 450. Weird.

Now they say it's over 700. Where are they getting these numbers?

 

[Zyzyxxz]

Google and Apple took a huge dive today, sucks to be investors for those two comps.

Shit even if I diversified, if I look at my positions I'm down overall no matter which way I look.

 

[Tarazet]

I can't even load the CNN bailout page or that live CSPAN stream. Crazy times.

CNN says the DOW is down over 600 but Scottrade has it at 450. Weird.

CNN is delayed, it is around 450.

 

[kathode]

Looks like it was rejected.

 

[Tarazet]

Took advantage of a mini-rally to sell my Apple call at a $60 loss, which still puts me ahead for the day. Wild times, and I'm out for now because I have no settled cash to play with. I'll be back tomorrow.

 

[Ether_Snake]

ABX.TO doing well. Wish I had more in there.

 

[lil smoke]

I figured AAPL would dip further once I touched it. This is why I do it little by little. That's $47 loss right there kids. I'll hold until tommorow.

 

[kathode]

Well AAPL probably would have rebounded a bit had the bailout measure passed. Now that that got shot down stuff is mostly plummeting. I don't think it has much more downside to it, although it really depends on larger market sentiment right now. Strangely enough my calls have been really volatile and were even up 10%+ when the stock was still down at the $107 level.

 

[bggrthnjsus]

huh surprisingly enough i haven't really lost very much today
i think i just lost a shitload last 2 weeks because of that freakish jump (and drop) of BOH

 

[Fatalah]

-700 for the Dow

 

[Tarazet]

DOW -725 pts

 

[RSTEIN]

I figured AAPL would dip further once I touched it. This is why I do it little by little. That's $47 loss right there kids. I'll hold until tommorow.

heh

 

[Ether_Snake]

ABX.TO up 7%. At least this will make up for some... some of my losses...

:|

 

[lil smoke]

heh

I'm not a rich big shot like you sorry.

 

[Javaman]

Nasdaq down 9.14% at close. P

 

[RSTEIN]

I'm not a rich big shot like you sorry.

No, it was just funny in the context of the billions lost today and likely tonight overseas.

 

[toxicgonzo]

I got saved today by my stop order. Otherwise, I'd be down 14%

 

[Tarazet]

DJIA 10365.45 -777.68 (-6.98%)

Heh, lucky sevens!