***Official*** 2012 Stock Market Thread

[Aharami]

Find this interesting. So penny stock COIN blew up today +195%. Was all over the twitter feeds. Thought it was just a regular pump and dump, which it probably is. But then I found this
http://ih.advfn.com/p.php?pid=nmona&article=50654425 (revised)
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=7965137

Basically the company went into agreement with some investor to extend outstanding convertible note to raise cash. company's stock price started sinking, and COIN did 1 reverse split a few months ago. Holder of convertible note sold significant # of shares, and stock price went back down to pre-split levels.

Now the company's looking to do more reverse splits to avoid defaulting on the convertible note.

So now I'm wondering if today's run up is actually a pump and dump, or does it have something to do with this filing coming out?

I'm a newb at all this and dont really understand intricacies of the financial market to analyze this. but i find it interesting to read up on and learn.

So what does the AT financial experts think? Just a pump? Or is it actual market forces working to cause this price increase?
I havent put any money in this as I believe it will come crashing down tomorrow...but it'd be interesting if it doesnt

 

[hiromizu]

Find this interesting. So penny stock COIN blew up today +195%. Was all over the twitter feeds. Thought it was just a regular pump and dump, which it probably is. But then I found this
http://ih.advfn.com/p.php?pid=nmona&article=50654425 (revised)
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=7965137

Basically the company went into agreement with some investor to extend outstanding convertible note to raise cash. company's stock price started sinking, and COIN did 1 reverse split a few months ago. Holder of convertible note sold significant # of shares, and stock price went back down to pre-split levels.

Now the company's looking to do more reverse splits to avoid defaulting on the convertible note.

So now I'm wondering if today's run up is actually a pump and dump, or does it have something to do with this filing coming out?

I'm a newb at all this and dont really understand intricacies of the financial market to analyze this. but i find it interesting to read up on and learn.

So what does the AT financial experts think? Just a pump? Or is it actual market forces working to cause this price increase?
I havent put any money in this as I believe it will come crashing down tomorrow...but it'd be interesting if it doesnt

It'll probably reach .007 maybe .008 then come crashing down unless it doesn't. Wait for the technicals after the move.

 

[JEDI]

JPMorgan profit drops 23%

http://money.cnn.com/2012/01/13/markets/jpmorgan_earnings/index.htm?hpt=hp_t3

doesnt look like a good start for today

 

[IHateMyJob2004]

COIN looks like it is going BK. It will take a miracle for anything other than that to occur.

It's an interesting story. Probably better to read hte book than to buy the company.

 

[IHateMyJob2004]

JPMorgan profit drops 23%

http://money.cnn.com/2012/01/13/markets/jpmorgan_earnings/index.htm?hpt=hp_t3

doesnt look like a good start for today

As long as it drags WFC down, I'll be happy.

 

[Aharami]

heh...looks like it was nothing but a pump

 

[IHateMyJob2004]

I just sold USG at 13.53. Nows your chance to buy!!!!

Want to buy back in in the low 13s. If this thing runs up im gonna be pissed

 

[IHateMyJob2004]

I just sold USG at 13.53. Nows your chance to buy!!!!

Want to buy back in in the low 13s. If this thing runs up im gonna be pissed

Im a ninja. Back in at 13.24. Now at 13.17.

 

[zimu]

Im a ninja. Back in at 13.24. Now at 13.17.

where are you expecting it to go to?

 

[Imp]

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

I had 1/3 of my money (a lot...) in SU. I sold at ~$28. It's now at $32. I banked barely a 2% gain, and now it's up over 10%. FML. Oh well, I was FML'ing when I bought in high, and saw everything drop 10%, then had to make my losses back, so...


Today = Boo ya! JPM missed earnings, all banks dead. If JPM missed, I'm more than willing to bet that BAC and C missed too. WFC is "special", so they may have done better due to apparent lower exposure/reliance on investment banking, but the freak out over the other big 3 should drag things down.

Also, word that S&P may be downgrading European countries later today. Ya, the same company that AAA'd (or whatever) subprimes, but no matter how "useful" their word is, markets weren't happy when they downgraded the US of A.

Meanwhile TGT is more or less stable. Yay for big box supermarkets.

 

[JTsyo]

JPMorgan profit drops 23%

http://money.cnn.com/2012/01/13/markets/jpmorgan_earnings/index.htm?hpt=hp_t3

doesnt look like a good start for today

are more profits supposed to be announced today?

I see there are a few scheduled for next week.

Looks like Europe is to blame for the dip today. S&P will be downgrade some, maybe even Germany.

 

[JEDI]

I just sold USG at 13.53. Nows your chance to buy!!!!

Want to buy back in in the low 13s. If this thing runs up im gonna be pissed

why do u think buulding materials is going to climb higher than the rest of the market?

i dont see housing recovering anytime soon

 

[JEDI]

I had 1/3 of my money (a lot...) in SU. I sold at ~$28. It's now at $32. I banked barely a 2% gain, and now it's up over 10%. FML. Oh well, I was FML'ing when I bought in high, and saw everything drop 10%, then had to make my losses back, so...


Today = Boo ya! JPM missed earnings, all banks dead. If JPM missed, I'm more than willing to bet that BAC and C missed too. WFC is "special", so they may have done better due to apparent lower exposure/reliance on investment banking, but the freak out over the other big 3 should drag things down.

Also, word that S&P may be downgrading European countries later today. Ya, the same company that AAA'd (or whatever) subprimes, but no matter how "useful" their word is, markets weren't happy when they downgraded the US of A.

Meanwhile TGT is more or less stable. Yay for big box supermarkets.

why so gung ho on boA?
and especially Citibank!?!??!?!

 

[IHateMyJob2004]

where are you expecting it to go to?

I hate IE. Posting failed. And had a nice write up.

Cliff notes:
1) Wish I did not sell ... it was stupid but it worked out. I have no valid reason to trade USG.
2) It is undervalued. It is worth atleast $18. $18 is based on past performance. It ignore things they have done with plant closures, streamlining operations and moving to an international royalty based model for overseas sales.
3) Berkshire will eventually buy USG for over $20/share. (He already controls 50% of USG)

 

[IHateMyJob2004]

why do u think buulding materials is going to climb higher than the rest of the market?

i dont see housing recovering anytime soon

I have been following housing for years. I think this year is probably the year. I would not be surprised to see 1 million starts.

I look at the rail time indicator reports(1) and data from Harvard University's Joint Center for Housing Studies(2). I also look at things like historical hosuing start numbers relative to what they should have been(3).

(1) is showing big improvments in lumber shipments relative to last year. Typcilly a dip occurs in the winter but not this year.
(2) Not that useful but has alot of metrics
(3) this one made me think the recovery should have bhappened last year.

(MISC) Additionally, I am actually seeing home building pick up again where people are building on spec. I've seen this in Connecticut and in Western NY (Buffalo area). In Buffalo I have seen developments that stopped developing in 2007 start to develop again. Heck, I've even seen entirely new developments popping up there in the past year.

Anyway, what is your rational?

Every quarter, USG provides drywall shipping numbers. How many board feet they sold is provided. That number has been stagnant for ayear now. I'm expecting a bump up this quarter. Praying for USG to drop back to $10. If it does I am loading up and even buying cal options.

 

[zimu]

I hate IE. Posting failed. And had a nice write up.

Cliff notes:
1) Wish I did not sell ... it was stupid but it worked out. I have no valid reason to trade USG.
2) It is undervalued. It is worth atleast $18. $18 is based on past performance. It ignore things they have done with plant closures, streamlining operations and moving to an international royalty based model for overseas sales.
3) Berkshire will eventually buy USG for over $20/share. (He already controls 50% of USG)

so this is a long play for you, given (3)? Which is why i'm confused that you sold midway, unless you were hoping for a temporary pullback?

 

[IHateMyJob2004]

so this is a long play for you, given (3)? Which is why i'm confused that you sold midway, unless you were hoping for a temporary pullback?

I just bought and sold for no good reason. It goes against my philosophy of value investing. I was hoping to buy back for less. Hope, such a stupid concept.

I buy good companies on the cheap. My horizon is 0-5 years. I just get impatient at year2+ sometimes

 

[Imp]

I just bought and sold for no good reason. It goes against my philosophy of value investing. I was hoping to buy back for less. Hope, such a stupid concept.

I buy good companies on the cheap. My horizon is 0-5 years. I just get impatient at year2+ sometimes

Best strategy I've come up with is going 1/2 or 2/3 long, and keeping 1/2 or 1/3 for "playing".

Unfortunately, that hasn't worked because when the market goes to shit, I hate seeing 2/3 of my money lose 10%, so I'm almost always 90% short term. The mindset goes like this: "if I sold it all, I'd be double my money when it all goes up again; as you can see during this rally, I lost a good 20%-ish gain by pulling out completely. If you've got more discipline, maybe that 1/3 short term will keep you entertained.

 

[IHateMyJob2004]

I always buy long. I've been trading more though with value ivnesting concepts. I will dollar cost average on the way down almost always. The thing is, if i buy and something runs up 5% the next day, I have a hard time holding.

I wish I had more money. Beign patient would be easier.

 

[Imp]

And here come the pretzels... France to be downgraded:

http://www.bloomberg.com/news/2012-...-from-s-p-afp-says-citing-state-official.html

No immediate impact on markets. Come on, Monday?

 

[Noirish]

US market is closed on Monday.

 

[darkxshade]

What I see is a buying opportunity come Tuesday.

 

[Aharami]

so many missed opportunities this week :\
STEV, IDIX, DNDN, QCOR....

 

[Imp]

France, Italy, and Portugal downgraded. Some other ones too. No surprise, but let's see what happens Sunday night!

Just announced, so can't find a story to link to yet.

Boo ya for 80% cash. Stuck with my TGT since it's TGT... Probably will regret it, but meh, 80% cash insurance.

 

[FoBoT]

Ratings agency Standard & Poor's has downgraded the government debt of France, Austria, Italy and Spain by one notch, but maintained Germany's at the coveted 'AAA' level.
The cuts, which eliminated France and Austria's triple-A status, deal a heavy blow to the currency union's ability to fight off a worsening debt crisis.
Italy was lowered to BBB+ from A. Spain slipped to A from AA-.