I need a new back!
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Texas files law suit to stop driving certain types of GM cars.
Made a few on GM yesterday. Wife is yelling to buy puts in GM again. Looks plausible.
GM DEEJ! man, I got snow in my driveway. It's almost April!!!!
Mistake. Sold QQQ for a .08 loss @ 1.60. Waited to long to buy.
Pissed. Let one get away. Bought QQQ April 88 Puts @ 1.68
the QQQ has now broken its 50 day moving average, and this market is starting to feel very heavy.
Will let it go today, profit or loss. Not holding overnight.
Thanks. Could use a few more. But then who couldn't.
I took GM into June & just made a profit. No problem extending to 9 months. Just set a stop so you don't get buried.
Sold GM 35 June Puts for 2.39 from 2.21. Small scalp. Post 20450
Need to make up 40 more contracts this week to get my trading platform for no fees for March.
Jamie, good luck on DDD. I've tried several times to nail that sucker in the right direction & failed. Hope it runs for you.
Just looked @ Real Estate. Zillow down over $5.00. Horton a possibility.
Google buying Auction.com.
Facebook spent 15 billion on another instant mail system. I think that is a joke. Anyone remember "MySpace"?
You're down? That really sucks. I had to reformat my computer yesterday morning. Saved everything on flash drives & went at it.
It sucks putting everything back in it's place.
I lost everything on Trade Station. I have my Desktop & Workplaces backed up but what if the problem lies within the software?
Thanks bro! Trying to get back into the swing of things.
Picked up GM June 35 Puts @ 2.21
And on Wednesday, Senator Claire McCaskill (D-MO) declared that her senate subcommittee plans to hold a hearing in early April on GM’s recall:
We have to get to the bottom of this. We need to find out who dropped ball and put millions of Americans at risk.
Let’s run through GM’s numbers, and then we’ll see how the chart supports a trade here.
•GM is trading for $33.00 a share with some 1.59 billion shares outstanding, yielding a market cap of $54.04 billion.
•Revenue for the past 12 months was $155.43 billion, and quarterly revenue growth was a thin 3% year-over-year.
•Gross profit for the same period was $18.05 billion, earnings per share was $2.38, and quarterly earnings “growth” was actually a -12.90% loss year-over-year.
•Finally, trailing price/earnings was 14.28. As usual, I like to compare this to Apple (AAPL – NASDAQ) which currently has a P/E of 13.20.
Frankly, I have no problem shorting any of this. Chart-wise, GM is presenting one of the most reliable sell setups you could ask for. Over the last 30 days, its chain of higher highs ended with a lower high and then a price collapse.
This is a classic Head & Shoulders failure. The usual formula in this situation is to double the loss from GM’s “head” at $41.85 to its “neckline” at $34.36. This yields a probable target of $22.87, which just happens to be what GM was trading for a year ago.
That’s a big chunk of real estate to attack. But we don’t need that whole -22.87% loss to make decent money. I recommend buy puts and aiming toward the intermediate support point set last summer at $31.16. We should have our preferred 25% to 50% gains in pocket long before GM hits even that -9% loss.
Good morning SOU! Just bought puts in GM. Let me find my ledger
& officially record the trade.
I should get one. My knees are turning black & blue. LOL!
Hey Deej! Good afternoon SOU!
Hope all is well! Had a prolonged hospital stay & got out in time to pack & head on vacation to San Diego. So hello from Beautiful San Diego!
Still have to meet my 50 option limit for the month of March to make my trading platform free for the month. Will be back Thursday & start popping out some trades.
Checked Chicago weather yesterday. 27 Degrees, so got out @ the right time.
Hope the board is making some serious cash. Talk to you guys in several days.
ukie
Sold JWN March 60 Calls for 2.12. .43 Gain. I'll take it! Post 19429
Still working off my laptop. Might have time to reformat the desk top. Saved most of my work on a few flash drives.
Yep, with two open. Costco Calls out to July & March Calls JWN.
No, I use Mozilla Firefox and IE as a secondary.
Good morning every one!
Big loss. Don't understand this one. Post 19430 Sold COG March 40 Calls. Hung on too long & took a big hit.
Thanks. They are a bunch of crooks. Almost sold but told myself it was a shake yesterday. Glad I hung on.
Good morning DEEJ & SOU! Well, it finally happened. I asked my wife never to screw around with my computer. She was looking for a vacation spot in the Bahamas, Carrib, Virgin Islands, Mexico & San Diego. She hit so many links that I caught a virus or some malware or both.
I was with Trade Station tech support for two days trying to figure out the problem. No dice. Working off a lap top.
So I'm going to save the music & pictures & do a clean install this weekend if time permits. Bummed out but love her too much & told her it was my fault. So my posts will be limited today as they were the last few days. Going from 4 monitors to a small lap top really sucks.
post 19556. Sold DDD March 80 Calls for 3.50 from 3.20.
Still holding COST, COG & JWN
DEEJ, LOL! I know what you're going to say.
A newbie doesn't have to buy 10 contracts a piece. I agree with you.
Start slow.
Looking back, if you make 3 trades @ 10 contracts a trade for $4300, $2600 & $1300 A newbie usually doesn't put up $8200 to open up an a account. That's when a margin account might help. 3 to 1 for the money you put up. But if you bust you have 3 days to pay up.
I was just recalling my experience from many years ago when I opened my account. As for the three day trading rule, it does not apply to me.
I believe you have to open a margin account to trade options.
They will ask you what you want to trade. If you say options I believe you have to fill out option papers.
Merrill Lynch down grades DDD yesterday.
I'm going to start buying puts. Even on good news they always find something to take the stock down.
Been there. Done that! LOL!
True, but the opening price on premiums will be crushed & traders will sell to preserve capital. Unless you stick it out which could get painful.
Add DDD to that perspective. Bunch of assholes.
Good morning SOU!
Just picked up DDD March 80 Calls @ 3.20. Buying the dip.
I got weeklies @ March 14. I use Trade Station.
Why do I only see March 14's? Good luck. Many people high on this earnings report.
DEEJ, one of your favorites has earnings this afternoon.
SCTY. " there has been lots of upside buying in Solar City SCTY – NASDAQ) as well. (Most notably, a big buyer of the April 90/110 call spread". Good luck if you're in.