Official Stock Market & Economy Thread

[dey know yayo]

turth15- FAZ is an ETF that aims for 3x inverse of financials. Dunno the fees and everything for these ETFs, would you like me to ask my tax attorney? i'llbe exiting these positions when we hit november lows on the indices
finnns2003- interactive brokers. forex is the currency market (FOReign EXchange), IB is my brokerage
superantigen- yes, these ultrashort ETFs are terrible long-term investments now, they have evolved into mere trading vehicles, but getting in and out at theright times can yield huuuge profits, which is what i am doing and suggesting everyone here do
reigndrop- need to see YHOO either bounce hard above or break down below its 50DMA to get some context.. most likely gonna break down and eend up in singledigits again
joe mcknight- we're getting more and more oversold and options expiration is upon us on friday so i would advise against opening NEW positions but if youreholding SRS FAZ or shorts/puts from before, keep holding until there's a reason to sell, which there isnt quite yet.
lazyJ- definitely. citi is an insolvent company.
nicefro- no idea how jpm's earnings will be, we'll ahve to see... i dont think the dow drops below 8k this week, i expect a small bounce into theweekend because of options expiration but you never know in this market, we'll have to wait and see what develops.

 

[dey know yayo]

i've hooked you guys up with some sick trades the past couple weeks, but i gotta say GS looks like it's gonna be my trade of the month if it owrks likeI expect it to... i'll be buying HEAVY into feb GS puts 45-60 stk price, if GS can bounce today and/or tomorrow, which im dearly hoping for it to. it looksready to tank.

 

[truth 15]

haha you are the truth dey know yayo, i used to follow the market a little bit but i am addicted now, so thanks.

If you could ask your tax attorney and let me know that would be great, I just want to have an estimate of what my taxes may look like.

I think this Martin Luther King Jr holiday might be our saving grace. I think market goes down to 7800 by Friday close and bounces on Tuesday. I have no ideathough, there are a lot of crazy things going on right now.

Let us know when you exit your equity positions in FAZ and SRS, and when a good time to get out of SKF would be.

As always, thanks for the help.

 

[andycrazn]

Originally Posted by reigndrop

Originally Posted by Dey Know Yayo

reigndrop- don't know if youve been following my posts or youre thinking independently, but many of your ideas are shared by me, good work you got a good head on your shoulders
prmmj23- i think gs is going down to below 50
dieselg5- prolbably an up day, "turnaround tuesday" candidate, who knows
mrmundaynite- i'm looking at stocks' price and volume charts. read "how to make money in stocks" by william o neil, conisdered the investing bible
andre3001- i now expect the wealth destructino to occur through inflation, like reigndrop says. i don't think we break november 08/february 09 lows til at least next year. much too early to tell though, this is just speculation.
joe mkcnight- i don't think you realize.... 1995-present was all artificial wealth in equity markets that needs to be purged one way or another.
mnmballa- not yet, i think the market is headed lower, but eventually this is a good long
nicefro- friday and monday are usually th big down days in the market in downtrends. that's why i like to pick up big positions on thurrsday close and during friday. idk if i can agree with shorting on monday too but the first part of your statement could be a viable system, i dont really know though

Lets see, you were bullish on gold right? And you're long on SRS and SKF. That's the only things I've seen. It's funny cause that's all I've heard at work the past few days, commercial real estate fallin hard. As far as other thing go, they're my opinions and opinions from other people.

no wonder why the condo's by me are so cheap. but i still think they are highly inflated

 

[finnns2003]

wow, how far GS has fallen... good stuff DKY

 

[reigndrop]

Originally Posted by andycrazn

Originally Posted by reigndrop

Originally Posted by Dey Know Yayo

reigndrop- don't know if youve been following my posts or youre thinking independently, but many of your ideas are shared by me, good work you got a good head on your shoulders
prmmj23- i think gs is going down to below 50
dieselg5- prolbably an up day, "turnaround tuesday" candidate, who knows
mrmundaynite- i'm looking at stocks' price and volume charts. read "how to make money in stocks" by william o neil, conisdered the investing bible
andre3001- i now expect the wealth destructino to occur through inflation, like reigndrop says. i don't think we break november 08/february 09 lows til at least next year. much too early to tell though, this is just speculation.
joe mkcnight- i don't think you realize.... 1995-present was all artificial wealth in equity markets that needs to be purged one way or another.
mnmballa- not yet, i think the market is headed lower, but eventually this is a good long
nicefro- friday and monday are usually th big down days in the market in downtrends. that's why i like to pick up big positions on thurrsday close and during friday. idk if i can agree with shorting on monday too but the first part of your statement could be a viable system, i dont really know though

Lets see, you were bullish on gold right? And you're long on SRS and SKF. That's the only things I've seen. It's funny cause that's all I've heard at work the past few days, commercial real estate fallin hard. As far as other thing go, they're my opinions and opinions from other people.

no wonder why the condo's by me are so cheap. but i still think they are highly inflated

Commercial real estate is retail property and office space etc. But residential real estate is still falling do doubt. They're forecasting a2010 3Q recovery haha.

 

[andre3001]

Too late to get into GS puts?

 

[dey know yayo]

yeah, sucks that it didnt bounce, there will be a fresh entry point for gs next week, ill keep u updated. i think truth 15 might be right, we might sell offinto the weekend and bounce on inauaguration then continue the sell off, well have to wait for a new short opportinuty to develop. until then, hold thepositions you do have, srs faz killin em again today. pru gs hbc down huge today.

 

[superantigen]

SKF is a monster...

it just keeps growing and growing and growing...[pushaT] ughhhhh [pushaT]

 

[dey know yayo]

faz > skf.

 

[superantigen]

seriously...damn...lol

 

[dey know yayo]

review of my blog picks...

jan 4
short spy at 92.96 - down 11.0%
short URE at 5.99 - down 30.7%
short SHLD at 41.49 - up 8%
short GS at 88.76 - down 21.7%

january 14
short SPY at 87.11 - down 5.36%
short GS at 77.92 - down 10.6%
short SPG at 45.46 - down 12.0%
short CF at 47.68 - down 9.8%
short X at 32.80 - down 10.1%
short AAPL at 87.71 - down 8.8%
short DRYS 15.54 - down 14.4%

not to mention, i've listed SRS, SKF, FAZ, RFN, FXP as great longs for weeks that are killing and BXP, VNO, SHLD, MET, HIG, HBC, GOOG, BIDU, SOHU, JPM,BAC, XOM, BOH, SPTN, STRA, APOL, CELG, ENER, MOS, TRA, SD, FSYS as shorts that have been killing.

 

[dey know yayo]

i said FAZ is a buy on Jan 2 at 35.11... up 83% since my call

 

[dey know yayo]

gbp/usd could break down very soon

 

[destination kicks]

Wow, SKF is taking a poop on the game.

 

[springfieldxd]

do you think jamba juice is a good buy ha?

what about etrade ha?

both of them look like good bargain now ha?

that JMBA got low overhead ha?

 

[lazyj10]

Its too late to get into SKF Feb calls at 195, so whats a cheaper price point? $200+?

 

[dey know yayo]

dont be entering new positions all the way up here, thats reactionary, gotta be proactive when it comes to options, a new fresh entry point will develop in amatter of days, then we jump into more positions

 

[superantigen]

there has to be a sell-off today, there just has to be with the way these funds are caking...

 

[lazyj10]

Originally Posted by Dey Know Yayo

dont be entering new positions all the way up here, thats reactionary, gotta be proactive when it comes to options, a new fresh entry point will develop in a matter of days, then we jump into more positions

Good point, I just worry about being closer to expiration when that point occurs, which is newer to me.

 

[foodgoeshere]

Originally Posted by Dey Know Yayo

review of my blog picks...

jan 4
short spy at 92.96 - down 11.0%
short URE at 5.99 - down 30.7%
short SHLD at 41.49 - up 8%
short GS at 88.76 - down 21.7%

january 14
short SPY at 87.11 - down 5.36%
short GS at 77.92 - down 10.6%
short SPG at 45.46 - down 12.0%
short CF at 47.68 - down 9.8%
short X at 32.80 - down 10.1%
short AAPL at 87.71 - down 8.8%
short DRYS 15.54 - down 14.4%

not to mention, i've listed SRS, SKF, FAZ, RFN, FXP as great longs for weeks that are killing and BXP, VNO, SHLD, MET, HIG, HBC, GOOG, BIDU, SOHU, JPM, BAC, XOM, BOH, SPTN, STRA, APOL, CELG, ENER, MOS, TRA, SD, FSYS as shorts that have been killing.

I've been following this thread for a while now as well as your blog DKN. Definitely appreciate all the info and isight everyone is offering. I'm new to this and have been learning a lot over the past weeks. I was just wondering when you would close the shorts. I haven't jumped into realmoney yet, but I have some of your shorts from your blog picks in my mock portfolio.

 

[dey know yayo]

i'd prolly start looking to close when indices hit their november lows, but as long as theyre going down i'll hold those short positions.

 

[dey know yayo]

spy 82 is important support we probably bouncehere

 

[finnns2003]

I'm kicking myself, srs from 53 last week to 72 now, DAMN...

 

[cruthik3]

I'm doing well with the ultra shorts. Luckily I sold FSYS this week. Still made a small profit with my entry position.