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Wow, how did you pick that thing out? Traded around $3 for years, until recently.
Good news!
Lumber and Lean hogs traded to the plus side today.
I did plenty of limit order bidding today, but no fills. Looking back, my bids were at the low point of the today and went north during the last two hours.
This market is amazing. I've never seen this type of intraday movement for this long a period.
Unfortunately, I do not own that ETF.
Really is amazing!
You may be right, if that happens what do you believe is the low point?
Trading at the bottom of the recent range now. If the Dow gets below 8400, I think 7700 would be next level.
Personally, I think this 8500 to 9500 range will hold until year end, except for maybe the day after the election.
Have you been trading over the last few days? I'm in autopilot mode and waiting for movement out of the trading range.
As I predicted, company retirement plans are now on the radar screen.
http://www.cnbc.com/id/27323540
Summary of all the recent trading I've done over the past two weeks. I have varying share balances, but all are long positions. Overall, I'm down 1.8% after netting the gain/loss percentages below. Overall holding about 60% equities and 40% cash still waiting for a home.
EWZ 25.3%
GCC (4.7)%
VEU (4.5)
VGT 0.7 - 1st purchase
VGT 3.9 - 2nd purchase
VGT 4.0 - 3rd purchase
VNQ (10.7)
VWO (14.3)
IVV 5.6
MGC (3.1) - 1st purchase
MGC 5.6 - 2nd purchase
VBK 7.8
VGK (4.9)
VPL (0.4)
Nice work on that hit-n-run!
The symbols are the best. DOG is perfect! WOOD and CUT for agriculture.
That's what we should do here, create symbols for ETF's.
SCAM - Companies involved in a forensic accounting audit.
LIES - Politically motivated/backed companies
BLOW - Illegal pharmaceutical trade
PORN - Now we are talking!!!!!!!!!!
Want a list of a few "double" inverse ETF's? LoL
I'm like a kid in a candy store with these things. They are liquid, easily tradeable, and diversified within that sector.
Check these out....
Coal - KOL
Covered Calls - BWV, PQBW, PBP
Inverse - DDP, DOY, SZO
IPO's - CSD, FPX
Patents - OTP
Timber - CUT, WOOD
Currency - FXB, FXM, BNZ
Heating Oil - UHN
Livestock - LSO, COW
Fun, fun, fun!
I haven't traded any of these, but here are the symbols with the largest net assets....
XLV, IBB, IYH, IXJ, XBI, VHT
There are about 40 more with a much smaller asset base.
Overnight LIBOR now 1.66%. This still needs to come a bit, but I like the direction.
Fun with wording!
You are doing just fine!
Looking to "time" the market, eh?
AIG Spent Thousands on Hunting Trip
By IEVA M. AUGSTUMS, AP
CHARLOTTE, N.C. (Oct. 16) - A handful of top executives from American International Group Inc. spent thousands of dollars during a recent English hunting trip, even as the New York-based insurer asked for an additional $37.8 billion loan from the Federal Reserve.
AIG Saga ContinuesMark Lennihan, AP3 photos AIG recently received approval for a second loan, just a month after the government bailed out the ailing insurer for $85 billion, in exchange for an 80 percent stake in the company.(Note: Please disable your pop-up blocker)
The news comes as New York Attorney General Andrew Cuomo on Wednesday told the insurance giant to do away with golden parachutes for executives, golf outings and parties while taking government money to stay afloat.
Cuomo said he has the power under state business law to review and possibly rescind any inappropriate AIG spending as long as the Federal Reserve is propping up the huge insurer with almost $123 billion in loans announced since Sept. 16.
"This was an annual event for customers of the AIG property casualty insurance companies in the U.K. and Europe, and planned months before the Federal Reserve Bank of New York's loan to AIG," company spokesman Peter Tulupman said Wednesday morning.
In a prepared statement later in the day, the company said, "We will continue to take all measures necessary to ensure that these activities cease immediately. AIG's priority is to continue focusing on actions necessary to repay the Federal Reserve loan and emerge as a vital, ongoing business."
AIG officials declined to say which AIG executives attended the trip, which reports have said racked up an $86,000 tab. News of the hunting trip surfaced just days after AIG received an additional $37.8 billion loan from the Federal Reserve, on top of a previous $85 billion emergency loan granted last month.
The company said last week it would stop "all non-essential conferences, meetings and activities that do not clearly maximize value and service given the current conditions."
Last month, and just days after the U.S. government stepped in to save AIG with a $85 billion taxpayer-funded loan, the company picked up a $440,000 tab for a week-long retreat at a posh California resort for top-performing insurance agents.
Lawmakers investigating AIG's meltdown said they were enraged that executives of AIG's main U.S. life insurance subsidiary spent a lavish amount on the retreat, complete with spa treatments, banquets and golf outings. Last week, White House Press Secretary Dana Perino called the event "despicable."
At that time, AIG issued a statement saying that the "business event" was planned months before the Sept. 16 bailout and that it was held for top-producing independent life insurance agents, not AIG employees. Of the 100 attendees, only 10 worked for the AIG unit hosting the event, it said.
The insurer said Chief Executive Edward Liddy sent a letter to Treasury Secretary Henry Paulson "clarifying the circumstances" of the event. In the letter, Liddy assured Paulson that AIG is "reevaluating the costs of all aspects of our operations in light of the new circumstances in which we are all operating."
The insurer then said it canceled a future California retreat that was to be held later this month.
Regarding the recent hunting trip, "We regret that this event was not canceled," Tulupman said Wednesday.
Shares of AIG fell 37 cents, or 13.2 percent, to $2.43 in trading Wednesday.
I really like these things, they are liquid (most trade on an ECN), and the risk is spread.
There is money to be made!
That's what I'm talking about! Nice work.
Sounds like even the Inn keeper took off. Buyers will be back. Everything runs in cycles.
No worries. Since you are paying my bills, you are carrying a "beer" credit balance with me!
Long MGC $32.51...eom
Long IVV $93.47...eom
During my daytrading days, the first 45 minutes were considered "amateur hour". Right now I'm leaning toward a move north to close some of the gap for the day. We'll know the general direction around 11:30 EST.
Check out GCC. I purchased about 550 shares yesterday, not a short per se, but still a "hedge" I believe.
I hear ya. I've stripped all of my insulation. You may see a fill by the end of the day.
Yep. I still think that the lows on Friday were the floor. Like I said before, there are billions in company sponsored stock funds that will remain untouched/unsold. Even the educated people that I work with left their funds untouched (i.e. did not transfer to the safe harbor) throughout the decline.
There is money to be made over time for the opportunist.
Check out the mutual fund redemptions last Friday....
http://www.cnbc.com/id/27184852
Nice job!
You are correct. The gain was just over 10% on the BEARX trade.
The rest are now half long positions and half cash. The current plan is to take advantage of the daily swings and feed the cash into low points. Currently, I do not have a stop losses set.
Oddly enough my best recent trade is a Brazilian index fund (EWZ). The worst is a REIT (VNQ).
Sold BEARX (mutual), I'll post the closing price after 6PM. My basis is $7.02 from March.
Long GCC $24.90...eom
cap, I completely understand your frustration. I've known Tim for a long time, and together we can share quite a few stories (zeptepi too). I've been involved in a few things where "important" people became very pissed off and attacked or threatened me.
I'm very suspicious of everything, and will harpoon anyone who I feel is attempting to rob/cheat/steal from the little guy (you and I).
That being said, you ultimately have control of when to buy or sell in these markets.
Hang in there!
cap, I believe we are near a bottom. My basis is simply what I call the "ignorance" factor.
There are billions in company directed 401-K, 403-B, pensions, etc. Most have no clue how to move those dollars to safe harbors within those plans (i.e. transfer the stock mutual fund into money market fund).
Those billions of dollars will stay invested because many don't understand how to transfer, or they are afraid to do so.
Call it human nature, or maybe frozen by fear, but that equity base is there.
Thanks. Still holding 50% cash, what are you doing now? I'm leaning toward feeding the cash into long positions slowly.
That is, if the indexes can hold close to current levels.