Swing trader.
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So many shorts on this one when it gets some momo the shorts just pile on harder. Hoping to really "burn" them someday in the future.
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Think the gains would have held up better if the market was not so red. Dow -250 but SFI is green.
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Wow, I really did not expect to hear news about the CTL sale for another couple weeks.
GLTY,
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CRXX and SFI green in a sea of red.
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WOW, CRXX up nice afterhours, though I didn't look to see if there was much AH volume.
Have a great nite.
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Blue sky!!!!! Looking great!!!! LOL
Just had to say it.
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$50. is better than taking a loss. Besides, where else can you make $50. in about an hour with little effort?
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SFI @ 6.96
Might pick up a little PACR myself. 6.60-6.70 area looking stronger.
Should have flipped SFI this morning when it hit 6.96, then pulled back into the 6.60's. But I am really turning chicken on this one. Seems like it just won't quit. The options are starting to freak me out. More calls open every day and hardly any puts. Bullish sign? The June $7.50 open interest is huge and maximum pain theory suggests it would close below that, but if the CTL sale goes through all bets are off.
Have a great afternoon. Oh, and almost talked myself into the Motorolla Droid with Verizon service.
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Sorry to hear that. Is it any better this morning? We had terrible storms last night. Some rain, but mostly thunder and lightning. I went to bed after the electric went out three times in about fifteen minutes.
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JTX was nice from the open until about 10:15. Of course it is easy to see two hours later. Hope your trade went well.
GLTY,
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Know the feeling. SFI saved me this week. (Made two bad decisions. You know the marriages that keep going downhill, but you just don't want to let go! LOL) Came out with profit only because of SFI.
By the way. SFI is gonna be a real winner this year if you get a chance to get in. The earnings beat analysts expectations and BK is definitely off the table. I had expected $7.50 by year end, but now $10 pps looks more realistic. The call options are really picking up and hardly any put action. Don't expect to see low $5 again. At some point they may need to raise capital, but that probably won't happen until late 2010 or early 2011.
Pretty sure the CTL sale will be announced before end of second quarter and that will bring another pop to SFI. Expect some major volatility with 23million shares short of the 94million outstanding. I'm in for the ride.
GLTY,
trade
I was thinking $7 by the end of 2010. Now $10 by the end of year seems possible.
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Listened in on the conference call. Outlook sounds good. IMO: Not much risk in 2010, but there is still some question about 2011. 2011 risks seems to get smaller each quarter.
Have a great afternoon.
trade
Still has a big short interest. April 15 data below.
iStar Financial Inc. $ 6.52 SFI +0.82
Short Interest (Shares Short) 23,932,600
Days To Cover (Short Interest Ratio) 8.2
Short Percent of Float 25.28 %
Short Interest - Prior 21,571,800
Short % Increase / Decrease 10.94 %
Short Squeeze Rankingâ„¢ 118
http://www.shortsqueeze.com/?symbol=sfi
GLTY,
trade
UPDATE 2-IStar posts narrower-than-expected Q1 loss, shares up
Thu Apr 29, 2010 11:12am EDTStocks
iStar Financial Inc.
SFI.N
$6.54
+0.84+14.74%10:20am EDT
* Q1 loss/shr $0.26 vs est loss/shr $1.48
* Loan-loss provision $89.5 mln vs $258 mln a year ago
* Says direction of loan loss provisions unclear * Shares up more than 15 pct
April 29 (Reuters) - U.S. commercial real estate lender iStar Financial Inc (SFI.N) reported a much narrower-than-expected first-quarter loss, helped by a drop in loan loss provision, sending its shares up about 17 percent.
The company, however, is unclear about the direction of loan loss provisions in the coming quarters, it said on a conference call with analysts. Net loss allocable to common shareholders was $25.4 million, or $0.27 a share, for the quarter, compared with a year-ago loss of $93.9 million, or $0.89 cents a share.
Excluding certain items, the loss was $0.26 a share. Analysts were expecting iStar to post a loss of $1.48 a share, excluding items, according to Thomson Reuters I/B/E/S.
Quarterly revenue fell more than 23 percent to $173.5 million.
"The year-over-year decrease is primarily due to a reduction of interest income resulting from an increase in non-performing loans and an overall smaller asset base," the company said in a statement.
The company saw its net investment income for the quarter plunge to around half the year-ago level at $119.2 million.
Provision for loan losses stood at $89.5 million from $216.4 million sequentially.
The credit crisis has forced lenders such as iStar to take provisions for possible loan defaults and write down the value of some of their loans.
At the end of the quarter, 72 of iStar's 212 loans were on a non-performing loan status, which represented $3.5 billion or 42.3 percent of its managed loans.
The company said it had $640.9 million of unrestricted cash compared with $224.6 million at the end of the prior quarter.
iStar said it is currently in compliance with all of its bank and bond covenants.
Shares of the company were trading up 15 percent at $6.58 in morning trade. They touched a high of $6.65 in early trade Thursday on the New York Stock Exchange. (Reporting by Archana Shankar in Bangalore; Editing by Roshni Menon)
Nice earnings. Hod $6.65 so far. Think it goes higher?
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I'm in SFI heaven. LOL Just can't decide whether to sell the May $7.50 covered calls. Think I will wait to see how it closes today and tomorrow.
GLTY,
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PALM nice pop on buyout news. $5.70 buyout price. About a dollar above todays close.
Course I was not in.
SFI earnings in morning. Wish me luck.
GLTY,
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Almost a million shares went through at around noon for $5.65
Half of todays volume. Looks like some support has been established.
Earnings tomorrow before the open.
GLTY,
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Yeah, that is one thing that had stopped me from trading on the phone. Fear of addiction.(Never putting it down.)
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You can scan for all kinds of things with TOS.
Scan can be done with a MACD Histogram crossover if that is what you are looking for.
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I'm was only able to watch in the morning. Tomorrow too. Appointments. Droid may become a necessity. Looked at some over the weekend. Nice phone.
GLTY,
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I had been thinking of changing over to TOS for several months. The final decision was made a week ago when I went to a class Ameritrade offered locally. There is tons of stuff in the platform and it will take me awhile to get it all, but the free online video education sure helps. Still occasionally getting lost and flipping back to SD, but sure it won't be for long.
Can't beat the Support/Chat button for help right on the platform. They can see exactly what my screen looks like and explain what I am doing wrong. Course is makes me feel like a dope sometimes, but that is what they are there for. LOL
Have a great afternoon.
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I finally gave up on SD and moved to TD's Think or Swim platform. The differences were overwhelming at first, but it has much more to offer and TD gives free education to help me use it.
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Saw BLDR was up. On my watch list.
SFI rallied after they tanked it this morning. Fifty cent swing in a day. Wish I was better at entries and exits. Could earn a living just flipping that one stock.
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PACR nice move today. No news? I didn't check the chart. Was this expected or possibly caused by the Paccar news? Did people just confuse the tickers? I almost bought PACR on the Paccar news then realized it was not this company. (Paccar is PCAR)
Shame, could have made nice daytrade.
GLTY,
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Thanks for the info. I'll check it out.
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Is there a certain Ameritrade platform you use? I have been a little slow in making the decision to go to the phone. Affraid I will never put it down.LOL
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Hey, let me know what you find. I was out shopping at Best Buy today looking for a phone to trade on. (I use Ameritrade) The girl there was recommending the Droid by Motorola, but the only internet experience I have on a phone is with Blackberry my son has.
Currently I only trade from home or occasionally from my laptop while on the road. Looking for something smaller than the laptop.
GLTY,
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Digiholic,
SFI consolidating in this area. Could have sold the extra 1,000 shares I picked up at 5.73 this morning for +.40 But what the heck may be good for a dollar.
Holding 8,000 shares. How did I get so many again? LOL
Have a great day.
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Must be out my mind, but picked up a little more SFI at 5.73
This looks to be a fib retrace. May run again into earnings(Next Thursday) if support holds through tomorrow.
GLTY,
trade
Wow, blew past me. Sold 2k shares at 1.84 $400 profit in about an hour. Holding the rest. Looking for another pop above $2.00 to sell them. Might have had it if the market didn't fall apart on the Goldman news.
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I got a couple thousand to flip at $1.64
Put a sell in for $1.84 looks like may get it in a few minutes.
GLTY,
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QASP - get out, get out, quick. Just kidding! I don't know the ticker. Jut be careful with the risks. Tough lesson to learn.
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Yes, hoping the class helps me with my exit prices. LOL
The "big" loss was my own fault for not managing risk. SFI has more than covered my loss, but still poor risk management as each trade should stand on its own.
Making a withdrawal from my brokerage account today and will still have more than I did at the beginning of the month. Always take profits and protect the capital. Learning as I go!
Have a great night.
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Got out of ABK with a big loss. Not as big as it would have been yesterday. Prolly flip some to try to recover part of it.
SFI keeping me green.
I'm heading to a class offered locally by Ameritrade tomorrow so no trading for me.
GLTY,
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Been looking for a pullback since $4.92
Beginning to think we won't see $5. again.
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Good thing SFI is up cause I really messed up a trade on ABK today. Gonna hold until tomorrow and see if it opens a little higher. What a dope, I know better!
GLTY,
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Okay forget risks and reality. Looks like we should have mortgaged the house and put it all in SFI.
I m still waiting for a pullback since selling one third at $4.92 Kick me in the head would you?
GLTY,
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