Chico''s FAS Inc. (CHS)

[GotOptions?]

I bet you wish like I do that we stayed in this one. Not many are like this where buy and hold actually work

[OrnateSilk]

Not at all. Hit it a few times. :)

[OrnateSilk]

It's a great company. Knew it wouldn't stay low forever. Wish I had had more money to throw at it when it was under $2!!!

[GotOptions?]

Well look at CHS now those 8 dollar calls dont seem so crazy now.

[OrnateSilk]

No. I couldn't buy back in until February and I've been pursuing a different sector right now.

[GotOptions?]

CHS tops in my retail list today, you sill in ?

[OrnateSilk]

ummmmm. let's give it another month before I answer that. *lol*

[GotOptions?]

How goes the investing game ?

[GotOptions?]

I think a little Wamu and Lehman is in order for me just a dabble to see where it goes and make things interesting. Preferred shares on both for heartiness beats returns.

[OrnateSilk]

Yes, I was.

Was wondering if there was a clear indication of whether we were going up/down

[GotOptions?]

Your referring to .08 on WAMUQ ? My level II software is down and will be up by Friday I hope. ( renewing subscription ).

[OrnateSilk]

What does the level 2 look like? Can we break $.08 tomorrow or is that out of the question? I wish I could read the charts, I would pay for L2. *sighs*

[GotOptions?]

Waiting for funds to clear but even now they look tasty.

[OrnateSilk]

Did you pick any shares up?

[OrnateSilk]

I'm trying to keep a close eye on it.

The 3 trading days of 2009 have been wonderful to me. :)

[GotOptions?]

Sweet, dont lose your gains. Boy if that had tanked you would have been depressed, I get bummed losing a few hundred, lol.

[OrnateSilk]

Don't think we will see the $3.70's again for a long while....

[GotOptions?]

Yes that was probably alot of shares at .02 congrats to that. It really takes courage at that point, cause they can go to .00001 as I am sure you are or were aware. The stock is even looking good at .06 I may pick up a few thousand.

[OrnateSilk]

Chicos is looking stronger these days! Hope it continues for those that hold the stock!

[GotOptions?]

This is a good time to find pink sheets stocks like Wamuq that are fighting to get back on the bigboards, and they stand a better chance than most, so good call. Normally I would warn against them but that name is pretty well established so you would think they have a good chance with that. It has moved up alot!!

[OrnateSilk]

[GotOptions?]

Your CHS is hovering around 4, which is not a bad sign really IMOP.

[OrnateSilk]

I don't know. Not sure I understand why it went down today other than that it went up pretty quickly. I should have sold Friday. Actually had a sale order in for $4.40. Missed by .02

But at this point, it would be better for me to sell in 2009.

[GotOptions?]

Red Candle today, it moves up tomorrow ?

[OrnateSilk]

Green! Green!! My Chicos account is Green!!! *dances around the room, throwing my head back laughing* weeeeeeeeeeeeeeeee

[OrnateSilk]

Yeah, I think so too.

For almost the whole month of September, this stock was trading in the mid 6's to mid 7's.

It is certainly achievable.

Not sure how long I want to hold though. Wanted to break even, maybe get a little green (I have the hardest time selling at a loss) and use these funds to average down some different stocks.

Guess I'll take one day at a time, keeping my eye on numerous options.

[GotOptions?]

I am guessing in this leg up which means within a month or so.

[OrnateSilk]

Yeah, I ALMOST sold it today but green for me is $4.26 and I feel that is right around the corner. Held it this long, might as well hold a few more days.

How long you think before we see $6? That was my target price (although I would not complain if I see $7).

[GotOptions?]

Well today its up over 5% AGAIN, so your 4 dollars is back, its strong I am betting 6 or 7 maybe higher.

[OrnateSilk]

Almost getting comical. Push, push, push towards $4.00 but can't quite break through. Reminds me of the popular recess game we used to play, Red Rover, Red Rover.

So who do we need to 'send over' to break the barrier? :)

[OrnateSilk]

Yeah, its like the stock itself wants to break $4.

[GotOptions?]

Dizzy chart there intraday for sure.

[OrnateSilk]

This would be a flipper's paradise today. Here we go on our third run back to $4.00 in little more than an hour.

Too bad my margin account still is not active.

[GotOptions?]

Nope didnt have enough free cash for the run in 2000 to 2003 but that is where it would have gone.

[OrnateSilk]

Me either or I wouldn't have bought it when I did!

Do you currently hold any shares?

[GotOptions?]

I didnt think CHS would drop this low.

[OrnateSilk]

Back to $4.00. Hold the line! haha

Long-term, I'm thinking $7+. I don't want to hold long-term though. I just wanted to make a nice little profit then all hell broke loose in the market, ruining my plans. *lol* Wish I had extra money to buy more (lots more) when this was under $2/share.

[GotOptions?]

No looking at the long term your probably right, 6 dollars possible.

[OrnateSilk]

Turning back up now. We'll see if I made the right decision. *shrugs*

[GotOptions?]

Well if you get greedy you will ride it back down too. But I am a sell 1/2 and wait guy, 4 dollars would have got my half.

[OrnateSilk]

yeah, I see that. I guess I should have too. I'm still down $1k at $4.00 so was hopeful it might break the barrier....

[GotOptions?]

Some people used 4 dollars to sell its at 3.85 and dropping now.

[OrnateSilk]

Does it look promising to hit $4 again today/tomorrow? Or is there a downward trend? Now that we are back to $4, I don't have as clear a feel for where this is going.

[GotOptions?]

There ya go.

[OrnateSilk]

a $4.00 print!! Almost green....

[GotOptions?]

Still rising above the 3 mark and holding. Close to 4 now.

[OrnateSilk]

Holding good today. :) Higher high's. Now where is my $4?

[OrnateSilk]

FINALLY busted past $3.59/$3.60.

[OrnateSilk]

Yeah, I knew about the 25K requirement. Meeting that requirement, I wasn't sure how many day trades one could make in a 3 day settlement period and if it is limited to ins/outs in a specific stock or a certain number of stocks, etc. I'll have to read tonight so I don't get screwed again.

The whole settlement issue was a very big uh-oh for me as that is how/why I lost all my money in WM. Couldn't sell. A most costly learning experience. :)

[GotOptions?]

They apparantly only want to manage a certain amount of daytraders, those who trade more than 3 times in 3 trading days so they have a minimum of 25,000 bucks requirement for daytrader status. Folks below that amount that trade more than 3 times in a 3 day period get flagged with a pattern daytrader red flag and cannot trade that particular account for a period of time. Its pretty long like 3 months or so.
I cant remember the penalty.

It sort of forces you to have multiple accounts or to come up with the 25k. This is a major issue for the small player and they should in my opinion lower the value to 1,000 bucks or 2,000. No one wants to keep their entire retirement in their trading account so the lower limit will help alot.

This would shed such positive light on us if the Obama Admin appoints an SEC governor that allows this. Which is why I heard that James Cramer from CNBCs Mad Money fame as the SEC governor would do more to allow more folks to have more flexibility trading. Folks who make mistakes with margin that they cant afford to pay back will be locked out of their accounts anyways from a money protection standpoint.

IF all goes well we will be able to trade multiple times in a day or week to cover for the 1 or 2 out of 5 mistakes that we make and in todays rules have to wait a week for. Freedom and Individual Liberty, and Knowing your own limits without a government blocker ( after all we are grownups most of us ) would be empasized this way.

Ok off the soapbox now, lol.