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The risk tolerance has never been a problem with me, LoL. I'm with you, I think the short term spike is over.
So what do you think? At 8400 on the Dow, do you suggest an index short, ultrashort or nuetral play?
Still 70% long and 30% cash on my end, but considering an S&P index short play.
Tim, go to page 18 in the link of the proxy filing below. I'm able to match up Mark's before and after holdings when compared to the Form 4 distribution. Does not look like a big deal, he dumped shares at/near market.
http://www.sec.gov/Archives/edgar/data/718332/000095013408019275/d64466def14a.htm
Check this out...I recognized Blodget's name from the Citibank article you posted. I still remember some of his CNBC tout spots from 2000 or so.
http://www.fool.com/investing/small-cap/2004/11/24/the-rehabilitation-of-henry-blodget.aspx
I agree, I'll do some DD today.
Thanks for the update.
Oh man, that hurts. You are raking in the cash with your short selling, now you want my 7.65% FICA.
Why don't I just wire you the money?
I hate you retired guys!
I'm looking at QID for tomorrow. I'm all about trading ranges outside of my ETF "long" basket.
The short term floor for QID is $69, closed at $71.28 today. Let's see what tomorrow brings.
Of course the land is free, the tornadoes will even cut the lawn and provide much needed landscaping hailstones!
Nice work!
Hey, I pocketed plenty of cash by short selling from March thru October. The name of this game is be on the right side of the trade and to make money.
Drinks on YOU!
Consumer staples. I say we are nearing the low, while you run wild with SKF.
You've been on the right side of the risk/reward curve recently.
Congrats!
Purchased VDC at $56.34/share. Congrats on SKF, great call.
Nice job on the gain.....eom
I have the most respect for people who post stuff in real time and back up those choices with commentary.
This guy needs to be in front of a camera!
Demand will spike during the summer months (late May - late Aug). I doubt if the $1/gallon will happen.
I just started reading this thing and I cannot put it down. I'm not in love with Gasparino's arrogance on the tube, but he is a good writer.
OT: Required reading...King of the Club by Charlie Gasparino (CNBC).
EGLE could have similar debt issues, I'm looking forward to the next 10-Q.
By the way, did you or Tim watch 60 Minutes last evening? There was a very interesting segment involving dry good container shipments to Asia. The goods were "old" electronics that contained lead and mercury.
I'm not suggesting that EGLE or DRYS ship or shipped this material, but the story focused on a company based in Colorado, and ultimately ended up on a ship.
I'll be with you on SKF after I get a comfort level with this range. I took my short sale profits from October and purchased a decent basket of "long" ETF's. Looking for a trading hedge now.
If you right about the $180, that would be another 13% decline from here (since the Ultra is basically double). That would take the DOW to 7600 or so.
You could be right.
Are you trading SKF? I'm trying to get a feel for the index trading range and I'm still not comfortable with the ceiling. The two day DOW ceiling is about 9150.
LoL - Just when a good argument was about to get out of control!
You need to be the one to teach the rest of us how to use this artillery!
I'm unhappy that this issue made national news because of the election.
I respect the opinion of each side of this table, just not how things have been presented in the media.
Run on vests too?
ray, that's fine, but when I see articles like this in a public format, I also see dead people on streets.
Something not right about that article. So if McCain were elected, these people would not rush out for weapons?
EZ, wasn't that trading at $11.00 two days ago? Any idea why it tanked then rebounded this week?
Good plan....eom
A tax discussion, I love it! I never liked the $3-K capital loss as a "strategy" for two reasons. First of all, the tax benefit is minimal (30% tax rate equates to only $900 in savings), plus you need to keep track in future years if the $3-K is exceeded. If the SAME tax software is not used, I've seen many miss or "forget" about the rollover loss in future years. Those who use this as a "strategy" are the same people who failed to cut their trading losses in the first place.
As for the wash sale, this is a basis discussion. You don't "lose" the loss per se, rather the basis is adjusted. Therefore, there is an easy way around this rule (repurchase that same security, sell for a gain, and you can grab the adjusted basis).
See, diversification does work (sometimes)!
We shall see.
Also added more IVV at $92.70/sh. Mix now of 70/30 equity to cash.
Added VO to my ETF pile at $43.80.
Gaming is tough right now, but it looks like this company is managing expenses pretty well.
Fixed expenses are locked in, but good management will control hourly wages and marketing costs. Not too shabby.
Thanks for the update.
I hate PR's, I want SEC filings! LoL