***Official*** 2013 Stock Market Thread

[IHateMyJob2004]

FBN shitting more. Down 20% more today.

Timeto read more on FBN to see what exactly is going on. Just strange that they do a reverse split and then it drops about 30% a few days later. pre-spit value is about 63 cents.

 

[sm625]

Alright I'm out. It may hit my target, who knows. All I know is we are close enough today that even if it did hit my target tomorrow, the loss of time value on the options would make them worth about the same. So out @ $2.80

 

[Miramonti]

What a mindfvck TIVO was late yesterday to this morning.

 

[jpiniero]

So the stock market rallied today because the economy is weak. That's crazy.

 

[JTsyo]

So the stock market rallied today because the economy is weak. That's crazy.

Yay QE

 

[JTsyo]

One of the ETFs I'm holding did a reverse split this morning. My stock holdings don't reflect the extra shares yet, does it usually take a day for things to update?

 

[zephyrprime]

One of the ETFs I'm holding did a reverse split this morning. My stock holdings don't reflect the extra shares yet, does it usually take a day for things to update?

Extra shares? You get fewer shares in a reverse split. It should be reflected immediately after the action happens before market open.

 

[JTsyo]

Extra shares? You get fewer shares in a reverse split. It should be reflected immediately after the action happens before market open.

My bad, a regular split. Price went down, shares should have doubled. What I'm annoyed about is that if I had a stop on it, it would have probably triggered. Don't think the brokerage firm is on top of this. Put in a ticket, no reply yet.

EDIT: checking my account, the shares have doubled.

 

[Corporate Thug]

another strong day for MNKD

 

[sm625]

I'm watching GDX. I have an uncanny knack for reading this chart. Metals miners been beaten down pretty badly for quite a while now. I am looking for the low to be retested, and if it holds I see a buying opportunity. The test should come within 5 trading days not including today. And I am looking for an absolute low of 26.79. (This is 55 cents above the current 52 week low.) If everything lines up like I think it might, I'll be snatching up SEP $30 calls for around $1.00~$1.30 each, and will be looking to sell them for $5.

 

[Imp]

FML. Went the preferred stocks route and I'm still somehow losing. Not nearly as bad as regular stocks, but the earning potential sucks.

 

[IHateMyJob2004]

Looks like there is a new majority stake holder in bbry. Nasdaq.com has a new 8% shareholder listed.

It's apparently a firm in Spain. Institutional ownership now over 70%. Was about 60% not to long ago.

30%+ shorted.

A good earnings report at the end of the month could make for an epic short squeeze.

 

[sm625]

My crash alert indicator went active when we hit 1628 on the S&P500. Lately its just been a "QE incoming" indicator, but you really cant count on that forever. I'm not gonna bother listing my trades, needless to say it is put options on SPY.

Edit: whoops I just edited this post by accident. The content above has not been changed.

 

[IHateMyJob2004]

BBRY just got upgraded today by SocGen which is apparently a respected firm. "street estimates" for BB10 sales are 3-4 million units on the quarter. SocGen says it's going to be over 5 million with about 80% of sales being the Z10. Stock up 6% today. Earnings are supposed to be flat this quarter by consesnus. SocGen says that they expect BBRY to beat the street this quarter and next. Some people that look more deeply into things say that BBRY could have a 50 cent profit this quarter if 5 million units shopped.

I care about FCF though. That's the number I want to see.

 

[IHateMyJob2004]

Here is what most people that know way to much about BBRY have been saying.

Go to the 5 minute mark of the video to learn why bearish analysts are oblivious.
http://watch.bnn.ca/#clip949636

 

[bookem dano]

Anyone still with ARR? Debating if I should pick up some more.

 

[apac]

Anyone still with ARR? Debating if I should pick up some more.

I've never had much luck with pirate stocks.

 

[mshan]

Thought this guy had some good comments on bonds, bond equivalents, and the chase for yield:

- Gundlach (part 1): http://video.cnbc.com/gallery/?play=1&video=3000176855 (start at 2:05 mark)

- Gundlach (part 2): http://video.cnbc.com/gallery/?play=1&video=3000176854 (pitfalls of the chase for yield)
http://video.cnbc.com/gallery/?play=1&video=3000176854

 

[Attic]

Two extremely respected and historic performers in the bond market indicated they were looking for bond yields to drop (rally) prior to the fed announcement. Gundlach and Gross.

Bonds absolutely crashed today. The 5 year suffered it's biggest percentage move in yields ever.

Indication of how out of whack price discovery is with the central planners in full effect.

Stock market in the precarious position of having been on a heater despite revenues being flat or declining across most sectors and indications the fed will taper in September (doubt this will happen). If the fed tapers and interest rates move up, but still below normal levels, financing the federal deficit will more than double.

Fun part is tomorrow it could all reverse, all anyone is doing is parsing words from the Fed. Great market we have here.

 

[Imp]

Effing preferreds continuing their dump. One of them formed a new 52-week low. My freaking oil stocks and even AT&T are more stable...

 

[sm625]

Yeah 30 year bonds have lost around 17% of their value in the last 6 weeks. I havent seen a crash this large occuring simultaneously in both bonds and stocks going back thru 12 years of data.

I'm looking for a rebound all the way up to 1646~1647 on the S&P 500 by wednesday. If we get that move I expect it to be the absolute greatest shorting opportunity of the year.

 

[Imp]

Sell in May and go away would have worked nicely this year.

Oh well, I'll sit tight and collect my effing dividends.

 

[Corporate Thug]

Really eying HALO at these levels

 

[darkxshade]

Guess it's rather safe to say a correction has triggered. Question is how low will it go? I'm betting on SPY 1500. Maybe lower.

 

[KB]

i think DOW reaches about 13800. I don't think this correction will last long though. Its selling off because the economy is getting better. Interest rates in savings and CDs will continue to be poor. Money has no where to go except back into the market. I am sitting on some sidelined money and will put it back in when we return to Nov 2012 prices.