***Official*** 2012 Stock Market Thread

[JTsyo]

I have a feeling the market is going to go bullish but want to still hold for a dip to buy in. I rather miss a rally than take a loss.

 

[Imp]

I have a feeling the market is going to go bullish but want to still hold for a dip to buy in. I rather miss a rally than take a loss.

Same sentiment. Just not feeling it. We're rallying because US economic data isn't terribad and Europe hasn't imploded yet, but is in recession, and we all hope it works out.

Wait until Friday for JPM to report earnings to see where financials are headed.

I really think this is just a blip up, albeit a longer one, like the other 4+ blips up since August 2011. I didn't play this time around because I thought it was going to break the trend/pattern and just take a dump downwards - hoping it's not breaking out to the upside.

 

[JEDI]

sold spy. +1500 2weeks.

if this keeps up, +$40k minimal effort.. lol

need to learn options!!!!

 

[The-Noid]

I officially went net short into the close from flattish. Here's to the auctions tomorrow in Euroland.

Being flat when the market is up a few points is better than having lost money though, right?

 

[Hugo Drax]

I officially went net short into the close from flattish. Here's to the auctions tomorrow in Euroland.

Being flat when the market is up a few points is better than having lost money though, right?

Short what @ what entry?

 

[Hugo Drax]

sold spy. +1500 2weeks.

if this keeps up, +$40k minimal effort.. lol

need to learn options!!!!

Grab a copy of Natenburg's Option Volatility and Pricing. Its standard fare, essential reading.

 

[SSSnail]

The JPM Healthcare conference is sending a lot of the biotech stocks soaring. DNDN, HGSI, ACHN, IDIX...etc

I was looking into getting in DNDN last week, but held off. doh!

Actc doubled in 4 days, I should have got out yesterday.

 

[Hugo Drax]

Actc doubled in 4 days, I should have got out yesterday.

"Only a fool holds out for top dollar" Joe Kennedy :biggrin:

 

[SSSnail]

"Only a fool holds out for top dollar" Joe Kennedy :biggrin:

Yes yes, after all these years I'm still a fool. My sssnail sense was all tingling...

 

[Aharami]

Actc doubled in 4 days, I should have got out yesterday.

how do you find these stocks?

 

[IHateMyJob2004]

"Only a fool holds out for top dollar" Joe Kennedy :biggrin:

The better saying:

"Don't try to pick up penny's in front of the bulldozer"

The spirit of that phrase is that if company A is worth $100 and it is selling for $99, don't debate selling. Just sell.


As for my MAS, WFC, USG fiasco.
I sold of WFC at a profit so I am not that bothered to see it run up.

I bit the bullet today on USG. I bought back in today. So pissed. I paid about 14% more to get back in then the price I sold. If USG drops into the $10-$11 range I will probably buy more.

As for MAS, I will buy in if it dips below my sale price. I sold at a loss. I don't think it is the best company in the world. It is a holding I have had for 5+ years. I only held it waiting for the day to sell. I just didn't hold long enough.

What I should be asking myself right now is, if I had 100% cash, what stocks would I buy? USG is on the list and not much else. WFC is on the list to but I want to see it dip.

 

[Imp]

I've got 85% cash. I know what I want: C and SU.

In the mean time, I'm building a TGT position slowly. It's gone practically nowhere in the past week. On the bright side, it gives me time to add. On the other hand, is it about to flop down before moving up? I got my money on both. Yay for 85% cash!

 

[Aharami]

trying to decide if it's too late to get into HGSI for short term profit. Now I dont know much about reading charts so I try to look up trader analysis and learn as much as I can. Found this video posted today. How legit is this following analysis?
http://www.youtube.com/watch?v=CAXsL2aPehI

 

[IHateMyJob2004]

trying to decide if it's too late to get into HGSI for short term profit. Now I dont know much about reading charts so I try to look up trader analysis and learn as much as I can. Found this video posted today. How legit is this following analysis?
http://www.youtube.com/watch?v=CAXsL2aPehI

If you were looking to buy a rental property, would you rely on that kind of decision making process? Or would you look at things like mortgage cost (long term debt), needed repairs like a new roof (capital expenses), what the place would rent for (revenues). And buy at a fair price based on this knowledge? Now, could you buy a larger complex with a group of 10 people? What logic would you apply?

What if you were to buy a business with 9 associates? Would you look for some seasonal/charting info?

What if you were becoming partners with thousands or millions of people?

People either get it in 5 minutes or they never will.

 

[Aharami]

are you saying that there is no science to technical analysis like that? i understand that you're advising on looking at company fundamentals before investing, and I agree with that. But that's for investing. I'm looking (at least with this company) for short term trading.

 

[IHateMyJob2004]

Science? It is the biggest joke on investors I have ever seen. Everyone is really into it now ... ever since CNBC started talking more about it several years ago. Even Jim Kramer does TA now. And all I have to say is that the advertisers must love it. "Experts" telling people to trade more. Put a bunch of fools with money in a room with an intermediary and later you will have a bunch of broke fools and a rich intermediary. There is only one winner in the zero sum game traders are playing. On average, the trader looses.

The traders hall of fame consists of an empty room.

 

[PimpJuice]

Science? It is the biggest joke on investors I have ever seen. Everyone is really into it now ... ever since CNBC started talking more about it several years ago. Even Jim Kramer does TA now. And all I have to say is that the advertisers must love it. "Experts" telling people to trade more. Put a bunch of fools with money in a room with an intermediary and later you will have a bunch of broke fools and a rich intermediary. There is only one winner in the zero sum game traders are playing. On average, the trader looses.

The traders hall of fame consists of an empty room.

Just because you don't prefer it doesn't mean it doesn't have any value. I'd rather hear about trading ideas than about hearing how USG and WFC are sure things over and over and over. I think everyone here is well aware that those are your favorite stocks.

 

[hiromizu]

Science? It is the biggest joke on investors I have ever seen. Everyone is really into it now ... ever since CNBC started talking more about it several years ago. Even Jim Kramer does TA now. And all I have to say is that the advertisers must love it. "Experts" telling people to trade more. Put a bunch of fools with money in a room with an intermediary and later you will have a bunch of broke fools and a rich intermediary. There is only one winner in the zero sum game traders are playing. On average, the trader looses.

The traders hall of fame consists of an empty room.

and a margin call

 

[hiromizu]

Just because you don't prefer it doesn't mean it doesn't have any value. I'd rather hear about trading ideas than about hearing how USG and WFC are sure things over and over and over. I think everyone here is well aware that those are your favorite stocks.

The amount of knowledge, future predictability, impeccable timing, conviction and delusion TA traders possess astounds me each day.

 

[Connoisseur]

Wow. VVUS. I stupidly bought a couple thousand shares of this stock a couple of years ago at it's peak at the time (12.07). I sold a thousand at a $1.5k loss just to hedge my bets but now it's finally past my buy price. Now I've gotta make a decision on whether or not to sell the other 1k for an extremely small profit or hold it. Man i'm greedy.

 

[PimpJuice]

The amount of knowledge, future predictability, impeccable timing, conviction and delusion TA traders possess astounds me each day.

I was referring more to his statement about traders in general and not TA traders. I agree that TA traders can be a bit crazy

 

[IHateMyJob2004]

Anopther stock I sold shot up today. FBN up about 34%.

Worst month ever.

 

[Arachnotronic]

IHateMyJob2004, I 100% feel your pain, man.

 

[IHateMyJob2004]

IHateMyJob2004, I 100% feel your pain, man.

What sucks is that I am beating the indices for this year. Major indices are up 3%. I'm up about 6%.

However, this is what I have missed out on:
http://www.google.com/finance?chdnp...SE:WFC&cmptdms=0;0;0;0&q=INDEXDJX:.DJI&ntsp=0

That chart is not 100% correct as I sold some stocks last year and some this year. But that is what has happened to what was about 60% of my portfolio this year.

If I sat on my ass and did nothing, I'd be up about 15% this year.

 

[JEDI]

geez.. and i thought selling QQQ end of last year to see it soar 5% in first 2weeks this year was saddening.