ponyo
Lifer
- Feb 14, 2002
- 19,688
- 2,811
- 126
Well I bought some CarMax for hopefully my third ride to $15. I bought a smaller lot this trip as I feel this is the market low retest and I'm hoping to get a lower price. I also got buy order for Costco and DBA. Both will likely get hit tomorrow.
Market will need to hold the higher low for the retest crowd. If not, it could get ugly and we could see another big crash. My money is on the successful retest and higher high til Sept/Oct. I plan on selling most of my holdings on the higher high ramp and being cash heavy come Sept/Oct. Healthy market doesn't have 20% daily swings in big caps. While that's nice for traders, it's a disturbing trend. Markets before a big "Black Monday" type crash have those kinds of swings months in advance.
Market will need to hold the higher low for the retest crowd. If not, it could get ugly and we could see another big crash. My money is on the successful retest and higher high til Sept/Oct. I plan on selling most of my holdings on the higher high ramp and being cash heavy come Sept/Oct. Healthy market doesn't have 20% daily swings in big caps. While that's nice for traders, it's a disturbing trend. Markets before a big "Black Monday" type crash have those kinds of swings months in advance.
ponyo
Lifer
- Feb 14, 2002
- 19,688
- 2,811
- 126
Got the higher low we wanted. Banking index bounced off the 60 support and S&P held. Retest technical crowd is happy and this may power the market higher short term. I wasn't too happy with the open. I was looking and hoping for a push down lower at the open before reversal higher. My buy order for DBA filled. Costco did not. No big deal.
ponyo
Lifer
- Feb 14, 2002
- 19,688
- 2,811
- 126
What's the story? Why do I get a sense that you rode this stock down to the gutter? Didn't you have Work.com or Business.com in your sig. I think I remember seeing in your sig last year or before.
Why have they destroyed this stock? What's the reason?
Slew Foot
Lifer
- Sep 22, 2005
- 12,379
- 96
- 86
I think the market is headed higher this week, possibly over 12000. GDP is due out Thursday and itll probably be pretty high due to the "economic stimulus handout". Im selling my Sony puts at market open tomorrow, they dropped nicely over the last few months.
almost bought some ELN today, but good instinct told me to wait until the full alzheimer drug results aftermarket...I might still buy some premarket and dump them as soon the market opens tomorrow.
ponyo
Lifer
- Feb 14, 2002
- 19,688
- 2,811
- 126
Encouraging action today even in face with higher oil. So I decided to take a stab and buy some calls in Citi. Bought some Sept $20 calls for a buck. Citi will have to write down massive $ from the CDO following Merrill who unloaded its CDOs at 22 cents on the dollar. I'm betting C will actually move up if and when it announces the same writedown.
Slew Foot
Lifer
- Sep 22, 2005
- 12,379
- 96
- 86
http://finance.yahoo.com/echar...le=on;source=undefined
Odd question, did MO really give out a $50/share dividend payment last April?
Odd question, did MO really give out a $50/share dividend payment last April?
ponyo
Lifer
- Feb 14, 2002
- 19,688
- 2,811
- 126
correct. When big MO was trading around $20 back in 2000 because of all the cig lawsuit, its dividend was 10%. Now the stock price is almost 4x that, it's still paying out close to 10%. That's amazing. IMO, MO has been the best stock for the last 50 years. Miller and Kraft used to be part of big MO. Cig, beer, and food. What more do you need.
ponyo
Lifer
- Feb 14, 2002
- 19,688
- 2,811
- 126
They seem to shoot at least one Nasdaq tech company a week. Today, it's Akamai. That was one hot stock back in the .com bubble and I traded it long and short many times back then. I haven't touch it since '01 but see today it blew up and received 25% haircut. That is just brutal stuff. I would be very nervous if I had any tech stock as a miss gets you a nice haircut these days.
In the future there shall be upwards of one electronic telephone for every hundred men and each shall require a bound directory so as to inform the switchboard operator how to connect them to all and sundry shoppes. And those shopkeepers shall gladly pay for the privilege of advertis-ments in these directories to the great benefit of all investors in this enterprise.
ponyo
Lifer
- Feb 14, 2002
- 19,688
- 2,811
- 126
Another great day for the financials. Wachovia has been on a tear the past couple days. Wish I still had those calls. 
Everyday it's looking more like the bottom was July 15. So far everything is playing to script like I pictured. We put in the bottom, hard rally, retest with the low holding, and now the rally back up. The question in the coming weeks will be when to jump off this bear market rally. I still plan on being mostly out of the market and in cash come Sept/Oct.
Ugly numbers from car makers today. CarMax closed up.
Everyday it's looking more like the bottom was July 15. So far everything is playing to script like I pictured. We put in the bottom, hard rally, retest with the low holding, and now the rally back up. The question in the coming weeks will be when to jump off this bear market rally. I still plan on being mostly out of the market and in cash come Sept/Oct.Ugly numbers from car makers today. CarMax closed up.
Welp, the expiry of the emergency naked-short order on Aug 12 could potentially put the kibosh on the recent financials party. I would be on my guard anyway.
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