Official Stock Market & Economy Thread

[jdb1523]

CEP and CSCO are my most recent buys, with CEP being quite bearish and CSCO being steady given what's going on. I didn't buy either for the short term(obviously), and I still think energy (CEP is Constellation Energy Partners) is a good play for you long-term guys, especially with Obama's proposedspending plan. DYK what's your take?

 

[nicefro]

I've again run out of posts for the day. DKY and reign, you guys are saying that this rally for the market will continue into next week. My gripe with that is that even if that happens and the market'sdrop back down, the more the market goes up, the harder it is for the leveraged ETF's to go higher. I.E.

[color= rgb(0, 0, 255)]November 19, 2008[/color]

DJUSFN (skf's underlying index) - 186.00
SKF - $223.83

[color= rgb(153, 0, 0)]January 15, 2009[/color]

DJUSFN - 184.08 [color= rgb(255, 0, 51)]lower[/color] than it was on 11/19.
SKF - $150.07

[color= rgb(0, 51, 204)]November 14, 2008[/color]

DJUSRE (srs underlying index) - 125.98
SRS - $162.71

[color= rgb(255, 51, 102)]January 15, 2009[/color]

DJUSRE - 125.72 (again lower than it was two months ago)
SRS - $63.78


What I'm trying to ask is while you're saying that the markets will fall, clearly it isn't going to boost these ETFs. Therefore do you think itwould be wise to get out of these Ultrashorts tomorrow or even before the end of after hours and then hop on something else next week, regardless of what thecharts are showing about defunct stocks?

Thanks for the help and let's keep this thread alive.

 

[reigndrop]

A lot of options being exercised today lemme tell you. Tomorrow will be no different, propping up the market briefly. Yayo's right, his rally will last nolonger than Thursday.

 

[reigndrop]

Originally Posted by MrMundayNite

DKY

What is a good chart program for real time charts (like the ones you use in your blog)? I'm using rightline's charts right now.

And also, I feel like a clueless kid, but what exactly is a "spy 82 bounce"?

DKY (he introduced it to me) use ThinkorSwims charting program, it's free once you sign up. SPY 82 bounce means, the S&P 500 ETF (SPY), which directlytracks the index bounced at 82. $82 being the support. You can see it that support on a 1 day chart.

BTW DKY I'm sure you'd be happy to know, I was told today that yesterday VNO payed .95 cents in dividend to shareholders yesterday. Half of it was instock. Share price dilution for sure. Puts and shorting it would be great, especially since it broke that upwards trend hard. I'm really surprised sinceVNO is one of the more diversified REIT's. Guess nothing can outrun this market.

 

[59 piffy]

mannnnn i shoulda got in palm but i only really trade penny stocks. what yall think? another QCOM? any chance of a pull back so i can get in

january options expire tomorrow

 

[lazyj10]

Originally Posted by reigndrop

Originally Posted by MrMundayNite

DKY

What is a good chart program for real time charts (like the ones you use in your blog)? I'm using rightline's charts right now.

And also, I feel like a clueless kid, but what exactly is a "spy 82 bounce"?

DKY (he introduced it to me) use ThinkorSwims charting program, it's free once you sign up. SPY 82 bounce means, the S&P 500 ETF (SPY), which directly tracks the index bounced at 82. $82 being the support. You can see it that support on a 1 day chart.

BTW DKY I'm sure you'd be happy to know, I was told today that yesterday VNO payed .95 cents in dividend to shareholders yesterday. Half of it was in stock. Share price dilution for sure. Puts and shorting it would be great, especially since it broke that upwards trend hard. I'm really surprised since VNO is one of the more diversified REIT's. Guess nothing can outrun this market.

That's what I don't understand, which I'm newb at. What exactly is support? This %@% better not be in colors, I'm mostlycolorblind.

 

[foodgoeshere]

Originally Posted by LazyJ10

Originally Posted by reigndrop

Originally Posted by MrMundayNite

DKY

What is a good chart program for real time charts (like the ones you use in your blog)? I'm using rightline's charts right now.

And also, I feel like a clueless kid, but what exactly is a "spy 82 bounce"?

DKY (he introduced it to me) use ThinkorSwims charting program, it's free once you sign up. SPY 82 bounce means, the S&P 500 ETF (SPY), which directly tracks the index bounced at 82. $82 being the support. You can see it that support on a 1 day chart.

BTW DKY I'm sure you'd be happy to know, I was told today that yesterday VNO payed .95 cents in dividend to shareholders yesterday. Half of it was in stock. Share price dilution for sure. Puts and shorting it would be great, especially since it broke that upwards trend hard. I'm really surprised since VNO is one of the more diversified REIT's. Guess nothing can outrun this market.

That's what I don't understand, which I'm newb at. What exactly is support? This %@% better not be in colors, I'm mostly colorblind.

I'm a newb also, but when there's a term I don't understand, I just look it up on investopedia.com. From what I understand, correctme if I'm wrong, the support price is the price a stock has trouble falling under. In the case of SPY, it's $82, hence the bounce once it hit $82. Looking on the chart, the volume level corresponds to this support level.

 

[lazyj10]

Originally Posted by foodgoeshere

Originally Posted by LazyJ10

Originally Posted by reigndrop

Originally Posted by MrMundayNite

DKY

What is a good chart program for real time charts (like the ones you use in your blog)? I'm using rightline's charts right now.

And also, I feel like a clueless kid, but what exactly is a "spy 82 bounce"?

DKY (he introduced it to me) use ThinkorSwims charting program, it's free once you sign up. SPY 82 bounce means, the S&P 500 ETF (SPY), which directly tracks the index bounced at 82. $82 being the support. You can see it that support on a 1 day chart.

BTW DKY I'm sure you'd be happy to know, I was told today that yesterday VNO payed .95 cents in dividend to shareholders yesterday. Half of it was in stock. Share price dilution for sure. Puts and shorting it would be great, especially since it broke that upwards trend hard. I'm really surprised since VNO is one of the more diversified REIT's. Guess nothing can outrun this market.

That's what I don't understand, which I'm newb at. What exactly is support? This %@% better not be in colors, I'm mostly colorblind.

I'm a newb also, but when there's a term I don't understand, I just look it up on investopedia.com. From what I understand, correct me if I'm wrong, the support price is the price a stock has trouble falling under. In the case of SPY, it's $82, hence the bounce once it hit $82. Looking on the chart, the volume level corresponds to this support level.

I meant from a picture like DKY does on his blog, not just the defined term.

 

[reigndrop]

Originally Posted by LazyJ10

Originally Posted by reigndrop

Originally Posted by MrMundayNite

DKY

What is a good chart program for real time charts (like the ones you use in your blog)? I'm using rightline's charts right now.

And also, I feel like a clueless kid, but what exactly is a "spy 82 bounce"?

DKY (he introduced it to me) use ThinkorSwims charting program, it's free once you sign up. SPY 82 bounce means, the S&P 500 ETF (SPY), which directly tracks the index bounced at 82. $82 being the support. You can see it that support on a 1 day chart.

BTW DKY I'm sure you'd be happy to know, I was told today that yesterday VNO payed .95 cents in dividend to shareholders yesterday. Half of it was in stock. Share price dilution for sure. Puts and shorting it would be great, especially since it broke that upwards trend hard. I'm really surprised since VNO is one of the more diversified REIT's. Guess nothing can outrun this market.

That's what I don't understand, which I'm newb at. What exactly is support? This %@% better not be in colors, I'm mostly colorblind.

A support is this:

See that line I drew there at around 8200? That's a support. The index is having a hard time trying to make a clear breakthrough through that line. Youhave to remember though, supports aren't going to be clear cut, there will be some minor blemishes here and there. Supports are a price at which a stockindex or whatever will have a hard time breaking through. This shouldn't be a problem though. The Dow is in a descending triangle and should breakthroughthrough the down side after a brief rally the next 3-4 days. Shouldn't come as a surprise to anybody.

 

[andre3001]

Originally Posted by nicefro

I've again run out of posts for the day. DKY and reign, you guys are saying that this rally for the market will continue into next week. My gripe with that is that even if that happens and the market's drop back down, the more the market goes up, the harder it is for the leveraged ETF's to go higher. I.E.

November 19, 2008

DJUSFN (skf's underlying index) - 186.00
SKF - $223.83

January 15, 2009

DJUSFN - 184.08 lower than it was on 11/19.
SKF - $150.07

November 14, 2008

DJUSRE (srs underlying index) - 125.98
SRS - $162.71

January 15, 2009

DJUSRE - 125.72 (again lower than it was two months ago)
SRS - $63.78


What I'm trying to ask is while you're saying that the markets will fall, clearly it isn't going to boost these ETFs. Therefore do you think it would be wise to get out of these Ultrashorts tomorrow or even before the end of after hours and then hop on something else next week, regardless of what the charts are showing about defunct stocks?

Thanks for the help and let's keep this thread alive.

I just wanna reup this question because this is somethign I have never heard of ; the underlying stocks. Can someone explain this? Reign/DKY?

LOL at Nicefro going thru his 25 on the daily haha , I do more reading then posting, take some of mine partna!

By the way, DKY, Reign, Wawaweewa, Nice, etc (sorry if I missed anyone), awesome work on this thread. I've read every post at least twice just so I cansoak this stuff up. I love talking about this stuff and what a good time to learn about this. I'm just pissed they didn't teach me a damn thing aboutthis in business school at 'Cuse. I just bought that book by Bill O'Neil too. Gonna try and read that over the next few weeks with a highlighterready HAHA. Good luck everyone!

 

[andre3001]

By the way, can someone let me know if this is legit play?

Ok, let's say you own SKF and FAZ, etc (inverse financials). You ride it out for the next week or two as the DOW drops to 7500 or so. Why not buy puts onSKF and FAZ when it reaches his likely peak? This may force congress to step in and re-up their stimulus package and give financials new life causing theinverse ETFs to drop as they did in late November after reaching their highs?

I have no experience in options trading; im just saying seems like a decent play.

 

[mrmundaynite]

Originally Posted by andre3001

I just wanna reup this question because this is somethign I have never heard of ; the underlying stocks. Can someone explain this? Reign/DKY?

LOL at Nicefro going thru his 25 on the daily haha , I do more reading then posting, take some of mine partna!

By the way, DKY, Reign, Wawaweewa, Nice, etc (sorry if I missed anyone), awesome work on this thread. I've read every post at least twice just so I can soak this stuff up. I love talking about this stuff and what a good time to learn about this. I'm just pissed they didn't teach me a damn thing about this in business school at 'Cuse. I just bought that book by Bill O'Neil too. Gonna try and read that over the next few weeks with a highlighter ready HAHA. Good luck everyone!

Yeah I just wanted to reiterate this. This thread has been awesome, EXCELLENT job you guys

 

[finnns2003]

opened my TOS account, now i have to wait for the paperwork to process...

 

[andre3001]

Zecco FTL.

Sent me application and copy of my license 2 days ago and have called at least once a day to escalate the account opening process. They tell me this morningthat my account was just sent to the corect department. I have told them 3 times that I need this account opened ASAP and I'm going to be a big bug intheir you know until they open it. I've worked on the institutional side opening much more complex accounts and it took an hour. I don't konw whythey tell me up to 5 business days. F outta here. I can't wait that long. It's probably gonna take a day to fund the account to.

 

[qpitfighter]

Dude, that's what pisses me off about zecco. It takes forever to fund my account. It takes them forever to do anything.

 

[vjetti]

Seems like transferring funds into any brokerage account takes forever

. I tried to put money in a new Etrade account last Friday, told me yesterdaythat I can't put $$ in the market until the 22nd. SUCKS considering there'll def be some big moves in the next week..

 

[lazyj10]

Originally Posted by reigndrop

Originally Posted by LazyJ10

Originally Posted by reigndrop

Originally Posted by MrMundayNite

DKY

What is a good chart program for real time charts (like the ones you use in your blog)? I'm using rightline's charts right now.

And also, I feel like a clueless kid, but what exactly is a "spy 82 bounce"?

DKY (he introduced it to me) use ThinkorSwims charting program, it's free once you sign up. SPY 82 bounce means, the S&P 500 ETF (SPY), which directly tracks the index bounced at 82. $82 being the support. You can see it that support on a 1 day chart.

BTW DKY I'm sure you'd be happy to know, I was told today that yesterday VNO payed .95 cents in dividend to shareholders yesterday. Half of it was in stock. Share price dilution for sure. Puts and shorting it would be great, especially since it broke that upwards trend hard. I'm really surprised since VNO is one of the more diversified REIT's. Guess nothing can outrun this market.

That's what I don't understand, which I'm newb at. What exactly is support? This %@% better not be in colors, I'm mostly colorblind.

A support is this:



See that line I drew there at around 8200? That's a support. The index is having a hard time trying to make a clear breakthrough through that line. You have to remember though, supports aren't going to be clear cut, there will be some minor blemishes here and there. Supports are a price at which a stock index or whatever will have a hard time breaking through. This shouldn't be a problem though. The Dow is in a descending triangle and should breakthrough through the down side after a brief rally the next 3-4 days. Shouldn't come as a surprise to anybody.

Thank you, that's what I was looking for. The colors will pose an issue for me, but I'm sure I'll figure something out.

Oh regarding funding your brokerage account, if you want money to arrive quickly, bite the bullet and wire it instead of transfer.

 

[finnns2003]

FHN up 17% so far, jeez.

 

[nicefro]

***++!* trailing stop. Got out of SKF @ 140.

 

[nicefro]

This burns.

 

[truth 15]

Hey guys-

What are you doing with your positions with SRS, SKF, FAZ? Hanging on or selling?

 

[nicefro]

I'm getting burned, don't know what everyone else is up to.

 

[dey know yayo]

dont know why you guys are leaving your ultrashort positions. i told you guys thered be a bounce at spy 82 and that we'll continue the downtrend onwednesday, don't get whipsawed. i'll be back with some replies to recent comments and questions later, ps look at PALM's graph, that looks likeit's goign to be a big winner soon. tues market close im loading up again on put options.

 

[ieternalv]

MA is murdering my portfolio, i need it to go up one day so i can sell.

you think apple will keep going down? i swear im ready to pour money into their stock, this $@@ is ridiculous their company is so damn healthy, just their CEOisnt.

 

[superantigen]

Originally Posted by truth 15

Hey guys-

What are you doing with your positions with SRS, SKF, FAZ? Hanging on or selling?

dumping them at the end of the trading session come Monday considering Obama's inauguration will boost the market which = bad day for inversefunds. When the euphoria dissipates however, and the harsh reality of things set in, then i will pick them back up again (at a cheaper price too).

Damn I don't like what I've become...ohhh well, i need to recoup my losses so until then, hope things keep tanking...