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Talking stocks, trading, and investing in general

Discussion in 'Business, Careers & Education' started by mikeman, Feb 2, 2011.

  1. stevent

    stevent Senior member

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    haha yeah most early people already cashed out most of their shares.
     
  2. NameBack

    NameBack Senior member

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    2% overall on the first position. Was up more than that today, but was down from prior days.
     
  3. P. Bateman

    P. Bateman Senior member

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    Do you guys think the black Friday gains will be sustained? I closed my shorts on Wed. thinking the market would recover some but I'm really surprised by Friday's and today's gains. Europe is still in the doo doo and Japan is making me nervous too.
     
  4. stevent

    stevent Senior member

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    IF I knew I would have dropped out of school and trade full time. Gains were good but I feel like once it dies off, market will drop again
     
  5. NameBack

    NameBack Senior member

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    FWIW, I think poor bond auctions and the undercapitalization of European banks are going to drag the market back down this week.

    In any case, the algo said go short, so we're short as of tomorrow morning.
     
  6. NameBack

    NameBack Senior member

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    Italian yields nearly hit 8%, and what is the market doing today? Oh, rallying of course.

    I don't get this market at all.
     
  7. Saltricks

    Saltricks Senior member

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    Walnut, CA
    

    I agree!

    AMR goes bankrupt...how long before it gets delisted?
     
    Last edited: Nov 29, 2011
  8. Slopho

    Slopho Senior member

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    Planes. You still need them to go certain places. Hmmm.
     
  9. CYstyle

    CYstyle Senior member

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    a lot of bad news is already priced in. Kind of dangerous to short the market now,
     
  10. melwoesblvd

    melwoesblvd Senior member

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    i love that "bad news already priced in" fallacy. the dow is still at 11.5 wait until it hits 10k and then drops, then all you "bad news already priced in" people will really be happy with your longs
     
  11. NameBack

    NameBack Senior member

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    In my personal opinion, it's not nearly priced in enough. The collapse of the EZ is, to my mind, a near-certainty.

    In any case, we closed out our position at 12:59 PST today when we were above our threshold. Kind of interesting conundrum arises as a result of this though -- since SPY was flat from open to close today, our algo is going to see today as a hold-position day, not a day to close the position. However, I don't sell at exactly the close, so when I saw it above the threshold I closed it. So the question is -- what do we do now? Open a new position tomorrow? Wait until we would have closed the position if we had left it open today?
     
    Last edited: Nov 29, 2011
  12. Slopho

    Slopho Senior member

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    Do you really see the Germans giving up on this? I'm not asking the question like an asshole, I'm asking for your opinion.
     
  13. GreenFrog

    GreenFrog Senior member

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    GLW down 10% today.. all my profits eliminated in one fell swoop.

    SCREW YOU SAMSUNG
     
  14. NameBack

    NameBack Senior member

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    I don't think it's up to them at this point. Well, they have the power to really push for what would be necessary to fix the EZ, but they won't. Because the only answer requires German inflation, and they've made it clear that that will never, ever happen. Damn the torpedoes, let the whole world burn down, but there will not be any goddamn inflation.

    If Italy gives its creditors a haircut (which at this point, I see as the only viable solution to Italy's debt woes, which are in vicious circle mode and bound to get only worse from here), then there will be bank runs, bank failures, and a credit crunch/freeze. It will be too late to save the EZ then. The periphery/EUSouth will need to devalue, and because Germany is only going to allow that through crippling, brutal deflation, the periphery will see leaving the Eurozone as a more humane and desirable option. And on a political level, people in the periphery/South will start to resent what they see as German imposition of economic despair, and elect anti-EZ leaders.

    The only way to prevent this is to save Italy -- which would require an ECB willing to act as lender of last resort and willing to make hundreds of billions of euros of bond purchases from troubled sovereigns. And Germany ain't about to let that happen.
     
  15. CYstyle

    CYstyle Senior member

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    I think the pessimism is overblown, I've been shorting a lot this year, but in this current market i'm shifting gears and taking long positions.
     
  16. Slopho

    Slopho Senior member

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    All good points, but I think the EZ stays together. Germany will negotiate more control over the purse strings for other countries in the future though.
     
  17. NameBack

    NameBack Senior member

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    Whew, thank Christ we fucking closed our short position yesterday!

    Although we're short again today at 123.48 on SPY ... :embar:
     
  18. stevent

    stevent Senior member

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    Debating whether I should close some positions, couldn't close the last few big gains, maybe now is the time
     
  19. Slopho

    Slopho Senior member

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    Well, cards on the table time. Here's what I like over the next 6 to 12 mos.

    NFLX
    GRPN
    BAC
    ACTC sweet sweet ACTC
    GOOG
    Here's what I don't like

    PFE
    LKND
    S - This stock is a zombie even if the T deal falls through with T-Mobile
    AAPL - I'm going to say this, this company will no longer be on the cutting edge of producing stuff. They'll make record profits for the next 5 years or so, but the days of them being the go to innovator are over.
     
  20. CYstyle

    CYstyle Senior member

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    Good thing you did, but didn't you break your trading rules by not following algo?
     

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