Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Are you married yet or did she dump your sorry ass.
Buzz
Don't get too married to that one right now. There's some bad shit going on behind the scenes, IMo, and there's another shoe to drop.
Buzz
I have confidence in my ability to make a certain percentage of winning trades versus losing trades. That's why I primarily daytrade futures now. I can calculate my average points per week over a period of time, then trade the number of contracts to make what I want to. I have the resources to trade just about as many contracts as the market would allow, meaning the liquidity of the ES's.
On the other hand, I could fall apart at any time as a trader and lose it all and be really fucked. But I guess I cross that bridge when I get to it, if I ever do.
In the meantime, I could die next week in a car crash or hit by lightnging - well, not likely here in LA, but you know what I mean. And i had a good year so I prefer to spend some on the peeps I love rather than worrying too much about the future.
But yes, I like to think I have unlimited earning potential.
But I also have 0 debt other than homeloan with a nice low 30 year fixed rate w/ about 50% equity, and I pay cash for everything, so I never buy more than I can afford. And I strongly suggest others DO NOT debt finance anything. I hate fucking credit cards. Keep a few for emergency, but buy everything on amex and pay if off each month.
Buzz
gonna see 2 bucks. load up there. eom
That's why it doesn't pay to be a perma bull or bear. Just take the trades and accept the consequences.
If the rest of the country is like me, there won't be any dissapointment in retail xmas sales. I vowed to cut back this year, but just love to buy presents for people I love!
So far, got one son a new laptop, one a high end Nikon cam, 10.2 megapixel w/ 2 lenses including a 20/220 zoom, an xbox 360, and guitar hero 3 w/ wireless guitar controllers.
Weeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee
Buzz
Kind of looking DHBish. eom
Bulls all out xmas shopping today? eom
hogs, based on the continuing heavy volume steep drop today, I'd say FRPT is gonna get hit hard with last minute tax loss selling. I'm watching it closely. Maybe 6.00 ish for a starter.
Buzz
Yes, 360 or wii or ps3, can't decide which. New camera middle son. Oldest already got his - new laptop.
OK outta here!
Buzz
Yeah, the 9 year old will love that. So will I when he's all hyped up on a caffeine buzz.
Buzz
You too! I gotta go start my xmas shopping. Seriously, have done ............ 0 ............ so far.
Buzz
You gotta love this trading game. I wait and wait and wait all day for a clear signal - actually, had 2 in the am but passed on them - finally got it, go short 8 ES contracts and cover for 1.5 points, 600.00 gain, in, get this, 38 seconds.
Weeeeeeeeeeeeee. Calling it a day.
And the best part is, the tax rate on futures caps at 24% versus the 42% I was paying on stock short term cap gains.
Buzz
1.50 if your name is brig ......
but you have to wear a full body condom
Buzz
Yep, that's you and your pink sheets
2.00 a pop
Buzz
Oh, and I'm talking about ............
you and your bed.
Buzz
Pink sheet trash. eom
Well brig, and as we all know,
you are the "masterdebator"
Buzz
One of the issues now is, this government bail out program may help the individual homeowner, but it's going to prolong the problem for the lenders. I had a lengthy discussion with a friend who's an independent loan broaker. His brother is a VP at Countrywide and got laid off recently.
Once these subprimes lock for 5 years at current rates, most of which are neg ams, the lenders are stuck with them. No one will buy these portfolios, because they simply aren't earning any money. So while foreclosures will drop, the lenders are essentially illiquid on all the current subprimes. Without selling their loans, the smaller lenders don't have the constant capital infusion to write new loans. The big guys, WAMU, BOFA, etc won't touch these locked teasers. So unless the fed changes the laws so that fannie may can absorb these portfolios, the situation won't improve for the lenders.
Buzz
I'm guessing your 1650 SPX projection is no longer valid, however:
http://investorshub.advfn.com/boards/read_msg.asp?message_id=23306194
Buzz
Much like you!!!!
Hey, UT has a great debate team. And Brig could intimidate the opposition for me.
Buzz
I'll be in your neck of the woods in May. TOC is in Lexington at the university of kentucky.
Buzz
I wanna post a public congrats to my oldest son. He and his partner just recieved their second TOC (tournament of champions) bid in high school policy debate, automatically qualifying them for the TOC. Only 64 teams out of the 2000+ that compete nationally make it to the TOC.
They finished first at a fairly large tournament, and second at one of the five largest tournaments of the year a few weeks ago. They're currently ranked in the top 10 nationally in policy debate. He's a Junior, and his partner is a senior.
More importantly, we're already getting interest from several colleges who have healthy debate scholarships, and great pre-law programs. These include USC, Wake Forest, and Stanford.
Of course, my son, being the dork that he is, said he thought he might want to take a year off to just play guitar after high school. My response was "NO FUCKING WAY".
But really proud of how well he's doing.
Buzz
Nice call on UNTD off 12.00. Would hold that one now for the 14.00 to 15.00 range.
Buzz
Some decent picks out of you. I've had you marked for a while from Zeev's board. Keep posting here as well.
Buzz
Never bot HIHO or IMOS, but OCNW, still holding half for near 50% gain. Want a double on it.
Funny, I've bought one stock since Sept, and already a 50% gainer. But, hey, that's why I'm Buzz.
I'll get back into more stock stuff after the holidays. I've just been very focused on futures and other non market stuff.
Buzz
I noticed Etrade is offering a 5.05% apy on line savings account. WAMU is currently offering a 4.75, and ING a 4.65, so it will be interesting to see if a)other banks follow the higher rate and b)how much new business Etrade gets.
Buzz
Those gave me a good laugh! Thank you. eom
Where does that leave Bob the Builder going into the all important Christmas sales period?
Buzz
Here's why I ask, from another board
ETFC has lost 7 to 8 billion in customer deposits so far. They accepted an offer of less than 30 cents on the dollar for 3 billion dollars of their worst "asset backed" securities. They still have billions in other loans on boats and RVs, and set aside 200 million to cover the loan losses. That may (will) run to 400 million. They also accepted other funding which costs them 12.5% interest. They gave up about 18% of the company ownership and a seat on the board. The street voted on the plan all day driving down the price, while churning about 60% of the float.
Does that about cover it?
Does anyone with an etrade account plan to stick with them? Isn't it likely that Citadel is now in the catbird seat to drive down the stock and take the other 80% for a song?
I'm just curious. Has anyone here who trades with Etrade closed their account and moved elsewhere?
Buzz
Have you been taking writing lessons from swampy?
I'm out 1/2 OCNW at 3.40 from 2.72 for the 25% gain, holding half a bit longer.
Buzz
Your cousin hugo is at it again
CARACAS (Reuters) - Venezuela could expel a U.S. diplomat it suspects of interfering in its internal affairs by working against President Hugo Chavez's plan to run for reelection indefinitely, a senior official said on Wednesday.
Buzz
IMO, the bushites are pressuring bernanke going into an election year, and gentle ben is in between a rock and a hard place. Cut rates, risk rampant inflation with commodity prices out of control, or give wall street what they want. It's really a tough spot, but IMO, a rate cut now would spell disaster for the economy.
Buzz
Classic 2 day snap back, time will tell, but this is a potential bear market rally/bull trap. Another 1/4 point cut isn't going to help the economy, and inflation will escalate.
Buzz
MED another nice Jan effect candidate, but would like mid 3's.
Buzz
My only problem with IMOS over the years has been their fairly substantial debt load, but I liked this from the last quarterly report:
S.K. Chen, Chief Financial Officer of ChipMOS, said, "Our CapEx this quarter was US$39.6 million, which was down from US$51.4 million in the second quarter. We intend to keep conservative control of our capital expenditures going forward to generate more free cash flow from our operation, and we intend to use the cash to reduce our debt."
Buzz
IMOS, buy levels, 4.80, 4.40, 4.00.
Buzz