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[Ether_Snake]

ADSK is up to 16 from Friday's 12.

I missed my chance (to some extent, one day they'll be in the 40s).

And STP jumps 17% a day after I almost bought some.

 

[RumblingRosco]

AIG top executives are getting a $1 salary or some shit this coming year: http://www.msnbc.msn.com/id/27910162/

Works for me I guess.

Anyway, the Fed is putting another $800bln out there. http://money.cnn.com/2008/11/25/news/economy/paulson_consumer/?postversion=2008112514

There was a time when big numbers like this were staggering to me, and I think would inspire confidence in the nation. Now, it's just the same old same old, and I can't help but feel like throwing "X billion dollars into the economy" is the new "cut rates!"

 

[Deku Tree]

AIG top executives are getting a $1 salary or some shit this coming year: http://www.msnbc.msn.com/id/27910162/

They are getting unspecified "other forms of compensation"... don't worry they will get their payday in the end, you can be sure these guys don't work for peanuts. This is just a PR stunt. (It looks like they will get a huge bonus two years from now when nobody is paying attention anymore.)

 

[Pimpwerx]

So I guess the markets finished up again. It's been a week since I bought my first stock, and I've already seen a 16% increase in market value. And I've made a couple of late/early calls that cost me another 10%, being conservative. I can't complain right now, I just wish I had more money to devote to the cause. Am I correct to assume that with increased stability of the market comes smaller gains? I hope not, b/c I'm kinda liking this.

I hopped on Zales at the opening and shoulda gotten off with 30% gains, but I settled for 20%. It's a learning experience, but I'm kinda worried it might be learning a bunch of lessons that won't apply when the market settles.

BTW, what's Friday gonna be like? Are the hours different? Should I expect low volume, high volume, what? I might be trying for a doorbuster sale that day, but I think I'd be back home in time for the opening bell. PEACE.

 

[Tideas]

I see a sell-off on Friday. Perhaps -400 drop

 

[Ether_Snake]

I see no reason for the rallies, since the outlook appears to be no better.

Fannie and Freddie up like 100% in two days, and there I am sitting on the sidelines. Really sucks that I started getting into this game seriously in October 2007 :lol I wish I had all the money I spent so far, and started buying recently. All that's been holding me back from buying some ADSK, Fannie, Freddie, etc., is lack of funds. I don't want to eat in my safety cushion.

Anyway, I'm keeping my money now, I'll try to keep more money so I can go back in when things go down again. I'm thinking they will.

Pimp: No one knows. Depending on what you bought, having bought at such low prices IMO would put you nicely in a long term position. If you don't have much faith in the businesses you bought in, then it's all short term. I know if I bought shares of companies in the past two weeks, it would be companies I have faith in for a long-term outlook, so I'd keep anything at this point. But only you really know

 

[speculawyer]

They are getting unspecified "other forms of compensation"... don't worry they will get their payday in the end, you can be sure these guys don't work for peanuts. This is just a PR stunt. (It looks like they will get a huge bonus two years from now when nobody is paying attention anymore.)

Well, they can give them some stock or options and let that be their comp.

When Chrysler took bail-out money, Lee Iaccoa took a salary of $1 and took stock instead.

John Chambers @ Cisco has done the same.

Let them put some real skin in the game so their decisions really effect their comp.

Of course, this isn't a perfect scheme either . . . it can encourage behavior that results in short term stock gains in a way that will harm long term company viability. That is exactly what happened with the banks and the subprime disaster. The subprime bundling biz was hugely profitable . . . until the defaults started happening.

 

[Ovid]

I see a sell-off on Friday. Perhaps -400 drop

I agree but not more than 200 points. I see the rally yesterday and today as people buying beat up companies as enter into the Black Friday.

 

[Ether_Snake]

I'm guessing stocks will finish in the red tomorrow because of the situation in India. Markets are too weak to sustain a five day rally in the current economic situation, and something like what is happening in India will likely trigger a "sell before others sell" motion. Although right now it's not happening in Asia, so maybe not.

 

[Pimpwerx]

Pimp: No one knows. Depending on what you bought, having bought at such low prices IMO would put you nicely in a long term position. If you don't have much faith in the businesses you bought in, then it's all short term. I know if I bought shares of companies in the past two weeks, it would be companies I have faith in for a long-term outlook, so I'd keep anything at this point. But only you really know

I have no confidence long-term, and sold all my positions already. I was worried about Black Friday being a big downer, and just in case, I'd rather have cash ready to buy low long-term. The only one I would have held long was Citi. I watched it drop under $3.10 and never pulled the trigger. So that ship sailed. I had some RIMM as well, but sold that b/c I would rather put that money into something that'll churn out double-digit gains daily.

Speaking of which, those solars are really volatile. They got killed a week or so ago, but everyday I've watched Trina Solar gain like 15%. I might buy some of those long-term, assuming there's another big drop. I can't imagine the bottom has been hit yet. But there were these rallies despite a bunch of poor news. Really weird. PEACE.

 

[Ovid]

U.S. markets are closed tomorrow.

 

[Ovid]

Jumped in and jumped out of C for quick profit. . Did the same with FNM.

 

[Tarazet]

C at $8.32. I think I'll be happy I didn't decide to be a flipper.

 

[Ovid]

I only seem to make a profit on days that I am off from work. It enables me to actually follow the market. The market is way too volatile for me to have a long position on any stock. So I took my profits and bailed. It really doesn't bother me if both C and FNM moved a few more cents after I sold.

 

[Pimpwerx]

I feel like taking C, F and GM out of my watch list, b/c they just mock me each day when I don't buy. Trina Solar up over $9 too. Yeah, this market is bound to contract again. We didn't bounce off the bottom yet. PEACE.

 

[mint]

I am really new to stocks..i started zecco- i bought some citi stock. i wanted to buy at wed when it was at $3..but i had so many things to do..i bought some today (~$8)..do ya think it'll go up a bit?

 

[Tarazet]

I am really new to stocks..i started zecco- i bought some citi stock. i wanted to buy at wed when it was at $3..but i had so many things to do..i bought some today (~$8)..do ya think it'll go up a bit?

Who knows? The worst seems to be over for them, but I don't fully trust any bank to be honest with its accounting practices in this environment. I'm holding, but when you're already up 123%, you can afford to. Your call.

 

[Ovid]

I think C will go back to levels it traded at in October ($10 - $12/share).

 

[mint]

wasn't C like above 20s in oct?

 

[Ovid]

wasn't C like above 20s in oct?

Its high in the beginning of October was $23. After they announced earnings on the 10/16 there was a steady decline in the stock price. It leveled off on 10/27, rose slightly till 11/4 then dropped like a rock. Because earnings were so bad for this company, I don't see it trading above $13. Then again, I could be wrong.

 

[Poody]

is gold a good buy right now?

 

[Pimpwerx]

My watch list is completely red. Welcome to the suck. PEACE.

 

[toxicgonzo]

R.I.P DOW

lol, its down 580 points.

I'm going to start selling short. I don't think we've hit bottom yet

 

[lil smoke]

My watch list is completely red. Welcome to the suck. PEACE.

Well the "watch list" is the list of things you're just following. Your "balances and positions" is the list where your ass is on the line.

At least that's the way I do it, and my actual positions have been red for awhile now. And I missed some HUGE obvious opportunities the week before last.

 

[Pimpwerx]

Well the "watch list" is the list of things you're just following. Your "balances and positions" is the list where your ass is on the line.

At least that's the way I do it, and my actual positions have been red for awhile now. And I missed some HUGE obvious opportunities the week before last.

Don't remind me. I'm down 15% currently on the day. I'd really rather not think about it. Watching my positions get lost in a sea of red on my watch list is the only consolation I have today.

toxicgonzo: We certainly haven't hit bottom yet. I don't mind the volatility. If need be, I'll average down in anticipation of the deadcat bounce. But yeah, shorting might have been the way to go today. PEACE.

EDIT: I should add that there's a chance I have no idea what I'm talking about. This is only my second week of trading, so I might be talking out my ass. I don't want to pretend I'm a pro.

 

[RumblingRosco]

I have almost every one of my stocks reinvesting, some via a DRIP, and damn, as I get news of the purchases going through I can't help but giggle. As prices get lower, I'm getting more and more shares for the dollar, and if 5, 10, 20 years from now the markets recover, I could seriously be making bank. My biggest of course is AHR; I'm pulling in a lot from the dividends, and damn, if Blackrock can keep the ship afloat through the recession I'll be golden.

A lot of you are mentioning that we are likely not at the bottom. I agree, I'm sure there is lower to go... but then again, this entire market has stopped acting on smart investing and common sense and instead is being driven by emotions. So, as much sense as it'd make at this point for the market to continue its large spikes, especially downwards, who knows what will really happen.

And I missed some HUGE obvious opportunities the week before last.

How so? Were there some good/low prices on some stocks you wanted? If so, don't fret, seems we'll get back down to that point soon enough.

EDIT: Two things, both a bit off topic. First, Discover just added a kick ass "Spend Analyzer" to my online account. It breaks down all the spending I've done on my card in a kick ass little pie chart. Not really hugely useful, just really neat.

Also, anyone have suggestions as to how to go about looking into CD APYs? I'm looking for a 2.5 year rate; Discover offers a 4.56% APY which seems to be one of the best (many places don't even offer a 2.5 year option, just 2 or 3). considering putting a bit of money into that instead of simply sitting in my money market, since I keep balking at making purchases for stocks as of the last month. Might motivate me if I start dwindling away my money supply.

 

[Ether_Snake]

Anyone who plans on shorting could go and get some Ultrashort ProShares. IMO it's better than shorting specific companies in such market conditions. Me, I'm waiting a bit to get more money, I'm thinking things will still be bad in two weeks. I'll probably buy some ADSK, but I just noticed it dropped 10% today but it's up 12% in AH. But whatever, I'm not gonna try to catch a bottom. Under $20 sounds good to me. I think the only cure to the economy is massive infrastructure and green energy investment. So Autodesk sales should at least stop falling when that happens, and I chose them over construction companies and the likes because I know their business better. Other than that, I'll have to force myself to buy more of everything else I own cause everything has fallen so much since I bought the shares that I'd miss a big opportunity when/if things turn around, but I don't have enough money right now.

Aaaaaanyway.

 

[lil smoke]

Just jumped back in. Hopefully I won't dig a deeper hole by the end of today.

 

[toxicgonzo]

Anyone who plans on shorting could go and get some Ultrashort ProShares

This. I was invested in DUG at one point. Although because I'm young and reckless I'm investing in triple leverage ETFs both long and short. 3 times the gains, 3 times the losses! Oh boy oh boy oh boy

 

[lil smoke]

Well, I bought a little GM off of advice. Motherfucker better be right.

 

[Tarazet]

Well, I bought a little GM off of advice. Motherfucker better be right.

See what happened to Mint yesterday to see what can happen when you try to ride a wave upwards.

 

[lil smoke]

See what happened to Mint yesterday to see what can happen when you try to ride a wave upwards.

I know I'm taking a chance here, but there have been a few quick bursts lately and I hope to get a piece of one. If not I'll bail and try again, until the timing is right. Not in for the long term for this one.

 

[Ether_Snake]

I can't believe it would cost only 34B to bail them out.

 

[Javaman]

I can't believe it would cost only 34B to bail them out.

It'll end up being just like Nigerian 419 scam. I can just feel it. :lol :lol

 

[Deku Tree]

When do you folks think it's time to go long oil?

One thing is for sure, the price per barrel will be much higher than it is now at some point. The question is how low will it at first go...

 

[dionysus]

When do you folks think it's time to go long oil?

One thing is for sure, the price per barrel will be much higher than it is now at some point. The question is how low will it at first go...

I work in the oil industry and travel to Brazil quite frequently. Now is not the time to go long oil. Emerging markets are collapsing like a house of cards, and that is where the new demand was supposed to be.

 

[dionysus]

This. I was invested in DUG at one point. Although because I'm young and reckless I'm investing in triple leverage ETFs both long and short. 3 times the gains, 3 times the losses! Oh boy oh boy oh boy

What companies offer the 3x ETFs? Is there enough volume in those ETFs to actually mimic the market?

 

[Deku Tree]

I work in the oil industry and travel to Brazil quite frequently. Now is not the time to go long oil. Emerging markets are collapsing like a house of cards, and that is where the new demand was supposed to be.

How much lower can the price of a barrel go, IYO? $10 a barrel?

 

[dionysus]

How much lower can the price of a barrel go, IYO? $10 a barrel?

30s.

Edit. Natural Gas is a regional market and a different play though. I think some Nat Gas names are very attractive.

 

[mint]

See what happened to Mint yesterday to see what can happen when you try to ride a wave upwards.

well, regarding that C purchase..it was on hold until monday; i canceled it before it was executed. :d

 

[Tarazet]

well, regarding that C purchase..it was on hold until monday; i canceled it before it was executed. :d

LOL. Good thing!

 

[Tarazet]

How much lower can the price of a barrel go, IYO? $10 a barrel?

Oil has almost always been around $20 in today's dollars.

 

[toxicgonzo]

What companies offer the 3x ETFs? Is there enough volume in those ETFs to actually mimic the market?

FAS FAZ
TNA TZA
BGU BGZ
ERY ERX

These pairs are complements. One goes long, one goes short. All you really need to know is the general direction a sector is going.


What do you mean by your volume comment? Most of them have a volume of over 1 million a day, but volume does not affect the share price of ETFs like regular stocks since they are made to index sectors. Or are you asking if there is enough volume so that these hedge funds will not go out of business? I'm wondering about that because leveraging is tricky business, having to borrow all of that money like that

Oil has almost always been around $20 in today's dollars.

Nouriel Roubini says he sees oil prices dropping an additional 20% and this guy knows his stuff.
http://www.rgemonitor.com/blog/roubini/

 

[tyguy20204]

So what's the deal with natural gas?

Is it just me or is Quicksilver Resources (KWK) a steal? Hovering at around 4.70 after a 52 week high of 45.

What's more is that its fundamentals still seem strong.

 

[Ovid]

Bought a couple hundred shares of C yesterday at $6.90 and sold it today at around $7.60. I have been doing well with this strategy so far. Like I said before, I think this stock will be trading around $10 - $12 soon. When it tanks again (which it will) I will pick up some more.

 

[RumblingRosco]

I wonder if we'll see GE sub-15 again. I'd really gotten close to going into it around 14 but never did, d'oh. I'm a little surprised how well the market has done since last week Monday, but the dramatic swings haven't stopped yet, so I still am confident prices across the board will fall more in the coming month or two.

 

[Deku Tree]

Anyone know up to how many shares you can trade for $0 a trade with Zecco?

Fidelity only gives you up to 1000 shares, and even then it's at at least $8 a trade.

And the Bank of America guy told me last week that you could trade some huge number of shares at once for $4 or $6 or $0 depending upon circumstances.

It has been hard to find this info on comparison sites...

 

[Tarazet]

Anyone know up to how many shares you can trade for $0 a trade with Zecco?

Fidelity only gives you up to 1000 shares, and even then it's at at least $8 a trade.

And the Bank of America guy told me last week that you could trade some huge number of shares at once for $4 or $6 or $0 depending upon circumstances.

It has been hard to find this info on comparison sites...

I don't think Zecco has any limit on the size of the transaction. Are you looking into penny stocks?

 

[Deku Tree]

I don't think Zecco has any limit on the size of the transaction. Are you looking into penny stocks?

Not really penny stocks, just Playboy. I picked some up at just over a dollar a share. (I think it's going at least to $2 in the short term.)

Seems like you can really get burned bad with low volume penny stocks... or if you are extremely lucky you can turn $200 into $200,000 or more! Got any recommendations?

 

[Tarazet]

Not really penny stocks, just Playboy. I picked some up at just over a dollar a share. (I think it's going at least to $2 in the short term.)

Seems like you can really get burned bad with low volume penny stocks... or if you are extremely lucky you can turn $200 into $200,000 or more! Got any recommendations?

The definition of "penny stocks" is anything under $5 a share. I got lucky by getting C shares at $3.73 a pop, but usually, if a stock falls that low it's because there's a real problem.