***Official*** 2009 Stock Market Thread

[Azurik]

Originally posted by: thepd7

Originally posted by: Azurik

Originally posted by: ducci

Originally posted by: GTKeeper

Originally posted by: Azurik

Originally posted by: JS80
I doubled down on my FAZ bet. Going for broke.

The markets are up 8% this week alone, FAZ might be a good trade here during profit taking, but I still think we're going higher and higher with this rally still. S&P is around 820 right now... it could surge to 860-870 before a pull back to the high 700's, then to 1050 we go.

What time frame are you looking at? Are you expecting earnings season to be 'not as bad' as people think, so we rally through May and then start going back down?

Well we've hit the "high 700's".

Looks like it's shit or get off the pot time.

I'm going to start scaling more now... buying HIG, C, etc. June calls. I think this is the last head fake before a massive 2-3 month rally.

I bought C and GM Monday. GM's not looking so good but I'm going to give it another 2 weeks.

Current Holdings:

GM @ $2.62
ESLR @ $1.15
C @ $2.56

I'm a small fish though, <1000 shares total between the three.

I bought shares to go along with my June calls - may use the shares to sell puts. I also need to finally convince JS80 to get away from FAZ... I think he's going to be right, but it's just the wrong time. This rally is real and will continue. Wells Fargo (WFC) announced $3 billion in profits today and financials are having a huge day. FAZ is hitting $14 and change... time to let go until later this year.

 

[Slew Foot]

Sell in May (just like last year). Im fairly convinced that the financials are being held aloft strictly by AIG bailout money, though WFC and BAC are in better positions to take advantage of all the doofi(doofuses?) trying to refi right now.

Im going to ask some of penis surgery friends what they think of DNDN new drug, that'll let me know what to do with that.

 

[Cal166]

Originally posted by: JS80

Originally posted by: IGBT

Originally posted by: JS80

Originally posted by: IGBT

Originally posted by: JS80
my butthole still hurts from buying FAZ, SKF and SRS too early, but slowly recovering. I am holding steady, I firmly believe the market will tank in the coming months but I don't have the balls to double down my double down.

so what we see know is the dead cat bounce then it will collapse to 3k??

lol it'll be nice if it goes to 3k. if i had to pull an arbitrary # out of my burning asshole, it would be 5500, which would be the point at which I would start to long.

so how are the banking "stress test" going?? who's really in trouble?

no idea, but it's all smoke and mirrors right now. i'm pretty sure they're all in trouble and as a whole they are insolvent.

No U.S. banks will close due to stress tests: source

WASHINGTON (Reuters) - U.S. officials will not look to close any banks based on the results of "stress tests" being conducted to determine how the largest U.S. banks would fare under more adverse economic conditions, a source familiar with official talks said on Thursday.

Linky

 

[Azurik]

I sold Citi (C) shares for a small gain - figured options are the better tactic.

I bought another 100 June call options, at $5 strike price for .17 cents. It only cost $1,700 for the gamble.

 

[hiromizu]

I'm very bullish on oil for the long term.

 

[GTKeeper]

Originally posted by: Azurik
I sold Citi (C) shares for a small gain - figured options are the better tactic.

I bought another 100 June call options, at $5 strike price for .17 cents. It only cost $1,700 for the gamble.

If citi posts a profit for Q1, those shares will surge!

 

[Azurik]

Originally posted by: GTKeeper

Originally posted by: Azurik
I sold Citi (C) shares for a small gain - figured options are the better tactic.

I bought another 100 June call options, at $5 strike price for .17 cents. It only cost $1,700 for the gamble.

If citi posts a profit for Q1, those shares will surge!

Oh, they will undoubtedly will if Citi surprises. I had stated earlier I think Citi could go to $7-$8 before this rally mode is over.

If it reaches there, why hold shares for a 150% gain when I can buy June $5 calls that could easily be a 700% to 1,000% gain?

 

[hiromizu]

eh. just bought some fas in prep for next week's earnings. prolly be very bullshit

 

[KDKPSJ]

What an amazing day today! I thought WFC is different from those weak banks, and good earning from them is nothing to surprise.

It's quite amazing to me that people so easily assume WFC's good earning means other companies' good earning, because I thought that even if all the banks suffer, WFC will keep posting little loss or good gain. Guess I was wrong.

 

[Rudee]

Originally posted by: hiromizu
I'm very bullish on oil for the long term.

I'm long on energy to the tune of almost 6 figures in terms of invested dollars. I jumped heavily into energy at the end of Feb. I'm already over 30% ahead and when oil does recover, I will be a very happy man.

 

[Noirish]

personally, i think there is a correction due.
during the bear run, faz went from $30 to about $100.
during this bull run, fas went from $2.5 to $8.7 today.

i won't be surprised if faz go up to $15.

 

[hiromizu]

Originally posted by: Rudee

Originally posted by: hiromizu
I'm very bullish on oil for the long term.

I'm long on energy to the tune of almost 6 figures in terms of invested dollars. I jumped heavily into energy at the end of Feb. I'm already over 30% ahead and when oil does recover, I will be a very happy man.

6 figs. Nice. I'm up 20% but have only the lower 5 figs : ) Still happy. I should of bought XLF instead of FAS since I don't day trade.

 

[IGBT]

Originally posted by: Cal166

Originally posted by: JS80

Originally posted by: IGBT

Originally posted by: JS80

Originally posted by: IGBT

Originally posted by: JS80
my butthole still hurts from buying FAZ, SKF and SRS too early, but slowly recovering. I am holding steady, I firmly believe the market will tank in the coming months but I don't have the balls to double down my double down.

so what we see know is the dead cat bounce then it will collapse to 3k??

lol it'll be nice if it goes to 3k. if i had to pull an arbitrary # out of my burning asshole, it would be 5500, which would be the point at which I would start to long.

so how are the banking "stress test" going?? who's really in trouble?

no idea, but it's all smoke and mirrors right now. i'm pretty sure they're all in trouble and as a whole they are insolvent.

No U.S. banks will close due to stress tests: source

WASHINGTON (Reuters) - U.S. officials will not look to close any banks based on the results of "stress tests" being conducted to determine how the largest U.S. banks would fare under more adverse economic conditions, a source familiar with official talks said on Thursday.

Linky

so are we near the bottom? or did the stress test give the MBA'a breathing room to juggle the books??

 

[SandEagle]

Is it a bad idea to purchase GM at this point (1.66)?

 

[GTKeeper]

Originally posted by: SandEagle
Is it a bad idea to purchase GM at this point (1.66)?

Yes, in all likelihood GM will file CH. 11 on June 1 or earlier.

 

[Cal166]

Still plenty of bailout money left...I mean taxpayer's money.

 

[GTKeeper]

Someone just bought a TON of June 5 calls on C ..... price has doubled what I paid for it .18 .... This morning it was only about .23-.26 now its at .36! Hold through earnings and the DUMP 70% of my holdings in those calls and then hold the rest for potentially more profit.

 

[DeadByDawn]

bought etfc at $1 a while back, looking pretty good so far

 

[ivan2]

Originally posted by: GTKeeper
Someone just bought a TON of June 5 calls on C ..... price has doubled what I paid for it .18 .... This morning it was only about .23-.26 now its at .36! Hold through earnings and the DUMP 70% of my holdings in those calls and then hold the rest for potentially more profit.

we are on the same boat =D. however i am only using my remaining cash in my account to do it =P

 

[Azurik]

Originally posted by: GTKeeper
Someone just bought a TON of June 5 calls on C ..... price has doubled what I paid for it .18 .... This morning it was only about .23-.26 now its at .36! Hold through earnings and the DUMP 70% of my holdings in those calls and then hold the rest for potentially more profit.

GTKeeper,

Didn't you ask why I didn't hold onto Citi shares instead of buying June $5 calls for .17 each? Now I learn you have options in Citi a penny more than what I paid. Are you profiting off my posts? Are you really Azurik Jr in disguise?

I demand a portion of your profit! My Citi calls are up 150% overnight, so yours must be pretty close behind.

 

[Slew Foot]

DNDN and BAC up nicely today, ill dump DNDN at the end of the month, probably put some sort of trailing stop on it closer to the announcement. BAC ill keep until May in anticipation of summer doldrums.

 

[Azurik]

Originally posted by: Slew Foot
DNDN and BAC up nicely today, ill dump DNDN at the end of the month, probably put some sort of trailing stop on it closer to the announcement. BAC ill keep until May in anticipation of summer doldrums.

If DNDN closes around $10 or lower by this Friday, I should pocket $650 for my 10 calls I sold that will expire worthless. I have 1,000 shares I bought at $4.20 that has a net gain of $3,100 at today's closing price of $7.30. Total current profit of $3,750 with only $4,200 invested. I'll take it.

I'm leaning towards keeping the shares through decision. Buy some last minute $2.50 puts in case it's bad news and go for the gamble of it hitting past $20 by the end of this month.

 

[Slew Foot]

http://www.reuters.com/article...333940120090413?rpc=44

Looks like DNDN will announce tomorrow. Ill place a stop limit tonight just in case.

 

[richardycc]

Originally posted by: Slew Foot
http://www.reuters.com/article...333940120090413?rpc=44

Looks like DNDN will announce tomorrow. Ill place a stop limit tonight just in case.

this could go either way, bad news, 2$, good news, $12.

 

[Slew Foot]

Some interesting things I learned while doing Pubmed searches.

It looks like physicians are highly in favor of Sipuleucel-T(Provenge), as it appears to be effective some of the time for resistant tumors. The FDA was aiming for a 22% reduction and the drug hit 20% late last year, though the company insists that due its late acting course, it should rise to 22% by now. Considering its a two year study with 500 people, youd need to help an additional 10 people in 3-4 months. Its possible though I cant find any literature or documentation about how exactly they are implementing the IMPACT study. The latest publications for the drug were late last year in journals I never heard of, most seem to agree that the FDA did wrong not to pass the drug the first time around, and makes notes of some conflicts of interest at the FDA.

Edit:

The conference call is at 9 am tomorrow premarket, which is a good sign. I signed up to listen in on their webpage.