There have been so many distinctions made between main street and wall street in the media that is sickens me. Its just the blame game. I expect it from those damned nay-voters on yesterday's bill... face it.... they're probably political "scientists" anyway. I told Will in my lab, the sad thing is, most Americans won't realize this crisis has very relevant causes from how they spent their money in the past. He agreed, and we agreed that this Bill had to be passed. My macro professor, Zubeyir Kilinc, also said it had to be passed. I couldn't help but smile when he told the class that papers, books, and dissertations will be written on what happened yesterday--something I've been telling everyone for the past few weeks. I also loved it when I asked him how people finance houses in Turkey to which he replied: "we save up for 20 years." This is exactly what my dad did! Look at what a little bit of skepticism did for my dad. He doesn't buy on leverage. He buys with money he has, and is therefore hardly affected by this mess. Sure he'll have to pay for this, but we all are.
Side notes. Bingham(Uk's FRE/FNM) was sold to govt yesterday. Spain's Fortis bank shut down. Credit rates rocket again b/c of intrabank lending fears. I realized yesterday just how much the market is hype after the bill failed in the House. We created this bill. We publiziced as our savior. Thus when it fails, regardless of wheter it will work or not the dow plunges 777. Think of it this way, if the bill was never written or spoken of, would the dow had fallen 777 points yesterday? Doubtful.
No picks or watches for me for a bit. I've got a wounded leg to take care of, and midterms/quizzes to read for.
Tuesday, September 30, 2008
Monday, September 29, 2008
Why the DOW fell 777(too bad it wasn't 666) points and I made money today!
I made money because I haven't taken risks with popular stocks this whole time! Why mess with them when there is plenty of money to be made in my niche alone
Plenty to be said about today, but I had a horrible bike crash and I'll leave it at the positions traded
SIL short 1500 shares at 2.18 cover at 2.10
+100
$6147.64
I hope I don't get stitches tomorrow.
Plenty to be said about today, but I had a horrible bike crash and I'll leave it at the positions traded
SIL short 1500 shares at 2.18 cover at 2.10
+100
$6147.64
I hope I don't get stitches tomorrow.
Saturday, September 27, 2008
i hate...
it when people degrade internet slang into "wut" "tat" "iz" "dat" Come on people, we're looking to shorten the amount of typing we do, not butcher the english language to make it sound like we're all podunk second graders, son of klansmen, from mississippi. YEE HAW!
anyway
Trades
Thursday
Covered o/n short on SIL @ 2.59
+607.42
Friday
re-entered SIL short at 2.28 and covered right before close at 2.41
-$147.00
6047.58
I still need to be grounded from my gain. I have a day trade but don't plan on using it untill Tuesday. Plenty of potential with the bailout news for monday. My beloved penny financials, and a few nice risers like HYDG that the GOTS crew has my back on.
There has really been some interesting plays to mention from this week. I've seen stock tank and break-out in very irregular patterns.
CEG had an epic fade from the $60's to $14
TGIC had a huge interday spike
NCC had 300% EOD on friday.
What does this? .....liquidity, lies, rumors, but most of all perception. I told Lawerence, the market hardly reacts as we expect. It's all about perception. The funniest example being AAPL's iPod and iTouch release day. Nobody cared about the new products... everyone wanted to see if Steve Jobs looked like he was going to die soon. Had he not worn thigh and chest implants the stock mighted had the GOTS guys cheering "TIMBERRRRRR". j/k about the implants, he was fine... well, at least according to the CNBC reporter that specializes in assesing CEO health at press confrences. I think that this is just the beginning too. Something is up. How can a stock have 30-40% interday swings 3-4 days a week? This is insane and far from over. I don't see an end to these swings simply becuase everyone fails to mention them. Of course, as everyone knows, efficient markets eliminate easy profit strategies over time, and this may be exactly why no one talks about it. Though, we've seen 5 big guns (count them FRE,FNM,LEH,(sorry LEHMQ), AIG, AND WM) all fall to become pennystocks. Too bad everyone fails to admit just how serious this is to the amerian public which is why pennystocks will continue to pwn joo noobs @ teh soaring and sinking the way they do.
As I told ben in a quick email today. FRE/FNM should open up to news of the bailout certain to occur tommorw(....or tonight rather) evening. Who would of called that the entire U.S. market could collapse due to a crisis in a single investment sector? oh yea... i did. This is all surreal, nonetheless. The extent of which it has happened has been played up by the media as almost unexpected. I guess I should do like I did before, forget the media, read my own history books of the market and come to my own conclusions. That being said, the potential to invest in Asian markets is huge. Seriously, just in terms of business imerging in weak financial markets. As indos and chinese start being able to afford the goods that us in the west have been basking in for years, supply will find its way to the demand. Business men will build their business. High fashion in India has yet to come, superstores are beginning to make their way, the online shopping potential hasn't even been tapped. When I went last xmas, I remember how shocked me and my dad were when we were at a hotel(restaurant) and the punjabi's next to us whipped out a birthday cake with candles during dinner. this was a first! people don't have TIME to do this in India. Work in the fields, or work in a cubicle picking up phones... this is what its been for indo's up till now. It shows, they aren't spending their time working. They have time to spare to celebrate and relax, and more importantly, they ahve the money! This was a moderately nice hotel too. moving on, in india, with products like the TATA nano being unveiled, an entire new class of people in India are going to be buying cars!And you can bet their ass'es are going to want to roll further than down the street than to eat some samosas, and mango chutney. They're going to want to travel, go on vacation and indulge. Jim Rogers said "If you were smart in 1807 you moved to London, if you were smart in 1907 you moved to New York City, and if you are smart in 2007 you move to Asia." Look at all of the worthless public companies in America. Why can't asia have them too??? This is huge. During dot-com, IPO's shot through the roof regularly. Tripling, doubling...fuck, there was no use for techinical analysis. Just follow the crowd. These companies are going to want to follow the capitlistic model and join the free market. Plus, its a nice accomplishment to be public. So let the IPO's happen. Let each company have it little bit of publicly traded glory. LET THE PRICE and VOLUME ROCKET. Thats exactly what traders want. As long as there is volatility and liquidity there is money to be made! Someone(i forget who) also made the point that up and coming nations have the benefit of learning from our mistakes. Well, now the whole world knows just how risky mortgages backed securities are. We should get a fucking award for the amount by which we help others by showing them exactly how to screw your entire economy.
Like I quoted Cramer last time, "there's always a bull market somewhere." But I say, who says the bull market has to be found in America? Or even the west for that matter.
anyway
Trades
Thursday
Covered o/n short on SIL @ 2.59
+607.42
Friday
re-entered SIL short at 2.28 and covered right before close at 2.41
-$147.00
6047.58
I still need to be grounded from my gain. I have a day trade but don't plan on using it untill Tuesday. Plenty of potential with the bailout news for monday. My beloved penny financials, and a few nice risers like HYDG that the GOTS crew has my back on.
There has really been some interesting plays to mention from this week. I've seen stock tank and break-out in very irregular patterns.
CEG had an epic fade from the $60's to $14
TGIC had a huge interday spike
NCC had 300% EOD on friday.
What does this? .....liquidity, lies, rumors, but most of all perception. I told Lawerence, the market hardly reacts as we expect. It's all about perception. The funniest example being AAPL's iPod and iTouch release day. Nobody cared about the new products... everyone wanted to see if Steve Jobs looked like he was going to die soon. Had he not worn thigh and chest implants the stock mighted had the GOTS guys cheering "TIMBERRRRRR". j/k about the implants, he was fine... well, at least according to the CNBC reporter that specializes in assesing CEO health at press confrences. I think that this is just the beginning too. Something is up. How can a stock have 30-40% interday swings 3-4 days a week? This is insane and far from over. I don't see an end to these swings simply becuase everyone fails to mention them. Of course, as everyone knows, efficient markets eliminate easy profit strategies over time, and this may be exactly why no one talks about it. Though, we've seen 5 big guns (count them FRE,FNM,LEH,(sorry LEHMQ), AIG, AND WM) all fall to become pennystocks. Too bad everyone fails to admit just how serious this is to the amerian public which is why pennystocks will continue to pwn joo noobs @ teh soaring and sinking the way they do.
As I told ben in a quick email today. FRE/FNM should open up to news of the bailout certain to occur tommorw(....or tonight rather) evening. Who would of called that the entire U.S. market could collapse due to a crisis in a single investment sector? oh yea... i did. This is all surreal, nonetheless. The extent of which it has happened has been played up by the media as almost unexpected. I guess I should do like I did before, forget the media, read my own history books of the market and come to my own conclusions. That being said, the potential to invest in Asian markets is huge. Seriously, just in terms of business imerging in weak financial markets. As indos and chinese start being able to afford the goods that us in the west have been basking in for years, supply will find its way to the demand. Business men will build their business. High fashion in India has yet to come, superstores are beginning to make their way, the online shopping potential hasn't even been tapped. When I went last xmas, I remember how shocked me and my dad were when we were at a hotel(restaurant) and the punjabi's next to us whipped out a birthday cake with candles during dinner. this was a first! people don't have TIME to do this in India. Work in the fields, or work in a cubicle picking up phones... this is what its been for indo's up till now. It shows, they aren't spending their time working. They have time to spare to celebrate and relax, and more importantly, they ahve the money! This was a moderately nice hotel too. moving on, in india, with products like the TATA nano being unveiled, an entire new class of people in India are going to be buying cars!And you can bet their ass'es are going to want to roll further than down the street than to eat some samosas, and mango chutney. They're going to want to travel, go on vacation and indulge. Jim Rogers said "If you were smart in 1807 you moved to London, if you were smart in 1907 you moved to New York City, and if you are smart in 2007 you move to Asia." Look at all of the worthless public companies in America. Why can't asia have them too??? This is huge. During dot-com, IPO's shot through the roof regularly. Tripling, doubling...fuck, there was no use for techinical analysis. Just follow the crowd. These companies are going to want to follow the capitlistic model and join the free market. Plus, its a nice accomplishment to be public. So let the IPO's happen. Let each company have it little bit of publicly traded glory. LET THE PRICE and VOLUME ROCKET. Thats exactly what traders want. As long as there is volatility and liquidity there is money to be made! Someone(i forget who) also made the point that up and coming nations have the benefit of learning from our mistakes. Well, now the whole world knows just how risky mortgages backed securities are. We should get a fucking award for the amount by which we help others by showing them exactly how to screw your entire economy.
Like I quoted Cramer last time, "there's always a bull market somewhere." But I say, who says the bull market has to be found in America? Or even the west for that matter.
Friday, September 26, 2008
Roar.
Nirav: Forget accounting, I'll just fudge the numbers(yes that's from the office)
Pre-med noob:OMG orgo!!! barf!!!!!!!
Get over it preemies, your major is imaginary, plus chances are.... you won't get into medschool.
Yea Yea, but i have greatness on my side. :)
Muchose picksones.
HYDG- short it
JPM-sell off becuase shares liquidating to raise capital??
WM- buyback from the AM fail.
In other news. My account needs to get corrected by the market before I go around spreading my trading prowess to so many people. I can't let this get to my head. I should instead focus on good trades.
Remember.... 3 keys to this:
size of position, when to enter and where to leave
Pre-med noob:OMG orgo!!! barf!!!!!!!
Get over it preemies, your major is imaginary, plus chances are.... you won't get into medschool.
Yea Yea, but i have greatness on my side. :)
Muchose picksones.
HYDG- short it
JPM-sell off becuase shares liquidating to raise capital??
WM- buyback from the AM fail.
In other news. My account needs to get corrected by the market before I go around spreading my trading prowess to so many people. I can't let this get to my head. I should instead focus on good trades.
Remember.... 3 keys to this:
size of position, when to enter and where to leave
Wednesday, September 24, 2008
greenage!
Positions Traded
LEH
long at .149 sell at .174
+171.2
SIL
short at 3.61 cover at 3.2388
+371.22
o/n short at 3.24
5641.35
Very good day. Definitely find a feel for the market. Can't wait for more trades and finding good o/n's with low risk has been very easy as well. Unfortunately, if you saw LEHMQ today, you'd know my exit was too early, but I put a mental stop at .17 and I will not complain about picking up an extra 170$ without burning a day tradeZ!
As an aside on my ongoing amazement by the markets. Bush just gave a 15 minute rundown on why the 700bn mortgage bailout must occur. People don't realize that the scope of the bad mortgages is way way more than 700bn. 7 trillion to be exact. We aren't even 5% of this. I'm not saying we should, but if this doesn't bailout, credit rates will rocket... on that note maybe congress should not pass this just so americans realize how bad buying on leverage is. Many americans will never even realize that this is the reason the banks failed to being with. BTW, GS and MOR downgrading to commercial banks is just enough failure for me.
No trades left for tommorw, will be looking to close my o/n on SIL. Based on the hearing we should see how stocks react. Plenty of opportunties in this market. Like cramer says, theres always a bull market somehwhere.
Anyone with trades should look to scalp off the very nice DSL run that has continued passed the shorting ban. Ironically enough, most penny financials, which I list almost every post(see below), have fallen. ABK is one of the worst. Based on movement tommorw I could buyin long.
Also, must mention the incredible FRE,FNM moves. Continuous upticks since talk of a bailout occured. Remember the system is never wrong. The bailout will happen, and these will rocket even more.
In all honesty, Just check out GOTS chat tommorw. Best momentum alerts there. Today alone, ERII and SIL would have you well in the green.
Will someone go ahead and say we are in a recession?
LEH
long at .149 sell at .174
+171.2
SIL
short at 3.61 cover at 3.2388
+371.22
o/n short at 3.24
5641.35
Very good day. Definitely find a feel for the market. Can't wait for more trades and finding good o/n's with low risk has been very easy as well. Unfortunately, if you saw LEHMQ today, you'd know my exit was too early, but I put a mental stop at .17 and I will not complain about picking up an extra 170$ without burning a day tradeZ!
As an aside on my ongoing amazement by the markets. Bush just gave a 15 minute rundown on why the 700bn mortgage bailout must occur. People don't realize that the scope of the bad mortgages is way way more than 700bn. 7 trillion to be exact. We aren't even 5% of this. I'm not saying we should, but if this doesn't bailout, credit rates will rocket... on that note maybe congress should not pass this just so americans realize how bad buying on leverage is. Many americans will never even realize that this is the reason the banks failed to being with. BTW, GS and MOR downgrading to commercial banks is just enough failure for me.
No trades left for tommorw, will be looking to close my o/n on SIL. Based on the hearing we should see how stocks react. Plenty of opportunties in this market. Like cramer says, theres always a bull market somehwhere.
Anyone with trades should look to scalp off the very nice DSL run that has continued passed the shorting ban. Ironically enough, most penny financials, which I list almost every post(see below), have fallen. ABK is one of the worst. Based on movement tommorw I could buyin long.
Also, must mention the incredible FRE,FNM moves. Continuous upticks since talk of a bailout occured. Remember the system is never wrong. The bailout will happen, and these will rocket even more.
In all honesty, Just check out GOTS chat tommorw. Best momentum alerts there. Today alone, ERII and SIL would have you well in the green.
Will someone go ahead and say we are in a recession?
Monday, September 22, 2008
stock Pickage
No new picks.
Fin's are testy and I'm not sure when to take my long position. I've heard a theory that once the 700bn bailout details are approved we'll see a comeback. I definitely want to go long on these before that happens.
I'll split the funds over some of the once I saw move the most last time--ABK,RDN,RAMR,DSL,FMD, and PMI
As for short picks. Timmy just released a 17 stock list of shortables. Lots of good ideas here and lots of big %tage gains in minimal time. Yes, the shorting rule has no effect on this list, and many other companies... like Jamba Juice... which rolls in penny filth every day. Look at it. Sitting pretty at 1.00. Just useless.
You can take away shorting financials... but they will still fall. Let that be a lesson to the SEC.
Yng has a nice post on 10/60 cross using Financial ETF's. Take a look at the Pennystock Financials i listed above and compare them to the ETF charts. They are mirror images!
get that green.
Fin's are testy and I'm not sure when to take my long position. I've heard a theory that once the 700bn bailout details are approved we'll see a comeback. I definitely want to go long on these before that happens.
I'll split the funds over some of the once I saw move the most last time--ABK,RDN,RAMR,DSL,FMD, and PMI
As for short picks. Timmy just released a 17 stock list of shortables. Lots of good ideas here and lots of big %tage gains in minimal time. Yes, the shorting rule has no effect on this list, and many other companies... like Jamba Juice... which rolls in penny filth every day. Look at it. Sitting pretty at 1.00. Just useless.
You can take away shorting financials... but they will still fall. Let that be a lesson to the SEC.
Yng has a nice post on 10/60 cross using Financial ETF's. Take a look at the Pennystock Financials i listed above and compare them to the ETF charts. They are mirror images!
get that green.
read this
READ THIS
``They're going to have to protect their deposit bases by law, and the days of high leverage are gone,'' said Charles Geisst, a finance professor at Manhattan College in Riverdale, New York, who wrote ``Wall Street: A History.'' ``The days of the big bonuses are gone.''
Today really does mark the end of an era. An era when you could borrow 25$ for every 1$ you owned and repeat this process for every dollar your earned. An era where wall streets financial engine was a series of Ibanks with exec's and partners making multi million dollar bonuses from leveraged money. Its the end to the over the top greed that swept through Ibankers everywhere.... cue the hedgefunds!
Who the care's about salaries, the fact that the powerhouses of wall street are now completely gone is the more relevant point. All in all, I was right. Leverage did this to these ibanks. In theory it worked beautifully, but even high-schoolers know that buying things with money you don't have is dangerous. Further, who in their right mind would have leverage ratios of 25-1????? The banks ate it hard this year for the years of leverage they used.
I'm still in awe. I thought these giants were full proof this summer. I thought Goldman was god. Let this be a lesson in how dangerous leverage is. For me, my father taught me this long before any economist did. Regulation is needed, and it is very funny that the CNBC reporters and Goldman officals are now asking for those regulations. Last week, we thought the government was interferring too much, now we've realized they're just being the parents to reckless teens. Of course they have the oversight to have stopped this to begin with, but if they put a damper on private banks when they were getting of their feet, liquidity, money markets, and securities would be all be responsibilities of the government and commercial banks. Who knows, since that is how it is now, things will turn out for the better!
The glass steagal act was supposed to separate the men from the boys, the risk takers from the conservative players. The comerical banks slowly matured to handle crisis very well, but the ibanks had no defense, and this was only amplified by leveraged bets.
Anyone who is winning in the market just hasn't been around long enough, today was the last day for ibanks.
What a market correction!
p.s. taxpayers are paying for this. Score!
``They're going to have to protect their deposit bases by law, and the days of high leverage are gone,'' said Charles Geisst, a finance professor at Manhattan College in Riverdale, New York, who wrote ``Wall Street: A History.'' ``The days of the big bonuses are gone.''
Today really does mark the end of an era. An era when you could borrow 25$ for every 1$ you owned and repeat this process for every dollar your earned. An era where wall streets financial engine was a series of Ibanks with exec's and partners making multi million dollar bonuses from leveraged money. Its the end to the over the top greed that swept through Ibankers everywhere.... cue the hedgefunds!
Who the care's about salaries, the fact that the powerhouses of wall street are now completely gone is the more relevant point. All in all, I was right. Leverage did this to these ibanks. In theory it worked beautifully, but even high-schoolers know that buying things with money you don't have is dangerous. Further, who in their right mind would have leverage ratios of 25-1????? The banks ate it hard this year for the years of leverage they used.
I'm still in awe. I thought these giants were full proof this summer. I thought Goldman was god. Let this be a lesson in how dangerous leverage is. For me, my father taught me this long before any economist did. Regulation is needed, and it is very funny that the CNBC reporters and Goldman officals are now asking for those regulations. Last week, we thought the government was interferring too much, now we've realized they're just being the parents to reckless teens. Of course they have the oversight to have stopped this to begin with, but if they put a damper on private banks when they were getting of their feet, liquidity, money markets, and securities would be all be responsibilities of the government and commercial banks. Who knows, since that is how it is now, things will turn out for the better!
The glass steagal act was supposed to separate the men from the boys, the risk takers from the conservative players. The comerical banks slowly matured to handle crisis very well, but the ibanks had no defense, and this was only amplified by leveraged bets.
Anyone who is winning in the market just hasn't been around long enough, today was the last day for ibanks.
What a market correction!
p.s. taxpayers are paying for this. Score!
Saturday, September 20, 2008
quick recap of Friday's trading.
This was by far the most hyped up day I've traded. CNBC was talking about all of the govt deal. Injecting money to the global economy through central banks, banning shorting on 799 financials(which by the way had many irrelavent companies on the list by mistake), and the continued ban on naked shorting. Dow futures rocketed. Seriously, these CNBC reporters, were merry... As was I, I was sitting on 1k profits on my o/n RAMR position. Only a 1.5K position and 66 percentage gain! What an idiot I was to only take half of my take. I should have easily kept it. Instead, i started asking the GOTS room for help. I sold half of my keep.
Ring the bell. I saw a huge paradox in numbers. Fin's tank, $DJI rockets. Seriously, 5 minutes into the day and were in the 11400's of the $DJI. I know whats coming, a sharp selloff, and a sharp buy back. What i didn't realize was that this would happen more than 4 times. DSL was my pick for buying off the sell off. I saw a return to 3$ and 2.94 was a great entry. Of course, I entered to quick in the morning volatitliy and got spooked with my chart staring when it was in the 2.70's. I wanted to keep my gains from ramr, so I took a 200$ loss and moved on.
Que DSL again. I began trying to enter at 2.70's. Volatility had faded and I saw a 10/60 cross. Got my fill at 2.89 and then came a long hold while also watching my RAMR position.
I walked away, saw probably 5300 in my account a few times but greedily held.
EOD buy up didn't come, and I had held to long. I started wanting to take my profit. Boom out DSL at 3.07 for a cool 200$ back and closed my RAMR in the 1.90's for another $150
My account sits at $5113. I am finally green, made back my 300$ loss, and broke 5000 all in one series of trades.
I should scold myself on using 2 day trades. I was too eager, and should've remembered this will cost me next week. I am more confident on o/n positions now, so perhaps I will play those.
I should mention the RAMR pick is completely luck. The news hype from the govt help is what gave me that 66% gain. Nonetheless, be on the lookout for more news, and more failures. This problem is far from over. Banks like GS and MS should have leverage ratios of 20's to 1. Other firms should not. I posted specifially on leverage before any of this happened in the summer. Credit cards became a habbit, money was injected into the market at incredible rates b/c of the high price of homes, wall street joined, defaults happened, completely fucked....we are done being yet.
A niceeee.
Ring the bell. I saw a huge paradox in numbers. Fin's tank, $DJI rockets. Seriously, 5 minutes into the day and were in the 11400's of the $DJI. I know whats coming, a sharp selloff, and a sharp buy back. What i didn't realize was that this would happen more than 4 times. DSL was my pick for buying off the sell off. I saw a return to 3$ and 2.94 was a great entry. Of course, I entered to quick in the morning volatitliy and got spooked with my chart staring when it was in the 2.70's. I wanted to keep my gains from ramr, so I took a 200$ loss and moved on.
Que DSL again. I began trying to enter at 2.70's. Volatility had faded and I saw a 10/60 cross. Got my fill at 2.89 and then came a long hold while also watching my RAMR position.
I walked away, saw probably 5300 in my account a few times but greedily held.
EOD buy up didn't come, and I had held to long. I started wanting to take my profit. Boom out DSL at 3.07 for a cool 200$ back and closed my RAMR in the 1.90's for another $150
My account sits at $5113. I am finally green, made back my 300$ loss, and broke 5000 all in one series of trades.
I should scold myself on using 2 day trades. I was too eager, and should've remembered this will cost me next week. I am more confident on o/n positions now, so perhaps I will play those.
I should mention the RAMR pick is completely luck. The news hype from the govt help is what gave me that 66% gain. Nonetheless, be on the lookout for more news, and more failures. This problem is far from over. Banks like GS and MS should have leverage ratios of 20's to 1. Other firms should not. I posted specifially on leverage before any of this happened in the summer. Credit cards became a habbit, money was injected into the market at incredible rates b/c of the high price of homes, wall street joined, defaults happened, completely fucked....we are done being yet.
A niceeee.
Thursday, September 18, 2008
Tommorw is a promising day.
My short picks for today were all over the place. I've learned I need to do fewer and more researched picks. Today I was scrambling at open to check all of my picks. I ended up playing something off my old list.... RAMR!
Thats right i'm in o/n on RAMR. After a long aftermarket convo w/ Yngvai I saw how great of a buyin it really was. Looking at the chart using 10/60 moving averages, I bought in right where a crucial cross happened on the RAMR, VIX, and DJI charts. I'm up 20%, and depending on how many more close their shorts and what rules/rumors surface on banning shorting, I could be in for much more price action. We shall see.
I'm going to list all of the financials that are def in play if the aforementioned occurs:
ABK,RDN,RHD,DSL,FMD,PMI,TGIC, RAMR
These alone ALWAYS provide plenty of scalping potential so most of my day will be focused on them. They are all up and down on the % gainers list. Be sure to save todays list to reference tommorw. This a market approved pick list people!
I've got 3 day trades tommorw, and DJI gained over 400 point after yesterday's tank. We're back above 11K point on the index and confindence may be returning as the fed moves to spend up to 1/2 a trillion on saving the mortgage market.
Tommorw will be a good day!
Thats right i'm in o/n on RAMR. After a long aftermarket convo w/ Yngvai I saw how great of a buyin it really was. Looking at the chart using 10/60 moving averages, I bought in right where a crucial cross happened on the RAMR, VIX, and DJI charts. I'm up 20%, and depending on how many more close their shorts and what rules/rumors surface on banning shorting, I could be in for much more price action. We shall see.
I'm going to list all of the financials that are def in play if the aforementioned occurs:
ABK,RDN,RHD,DSL,FMD,PMI,TGIC, RAMR
These alone ALWAYS provide plenty of scalping potential so most of my day will be focused on them. They are all up and down on the % gainers list. Be sure to save todays list to reference tommorw. This a market approved pick list people!
I've got 3 day trades tommorw, and DJI gained over 400 point after yesterday's tank. We're back above 11K point on the index and confindence may be returning as the fed moves to spend up to 1/2 a trillion on saving the mortgage market.
Tommorw will be a good day!
Wednesday, September 17, 2008
9/18/2008
AIG bailout does zero for confidence. .DJI does another 400+ point drop but Gold rallies. BIG TIME. Todays % gainers list is filled with mining companies reaping in the Gold hype.
NYT IPO alert
FLDM is going public tommorw. This Lehman brothers venture capital group find has it's big public offering in the worst week of 2008. Shares will struggle to maintain value and shorting might be better. Remember this isn't the dot com boom. Right now, you're played for what you are worth and more often less than that.
YESTERDAYS PICKS
Airlines were definitely in play today! DAL, UAUA, LCC etc. Down big on rising crude oil. I'm liking the inverse relationship.
RAMR, TGIC, and RDN had good intraday movements. Of course, yours truly sat on the sidelines.
VLNC- A pick by timothy sykes, and was well talked about in the GOTS chat room. Didn't hit the action we'd all like, but I doubt this is done.
FBR- Also not triggered. Tommorw is another day.
FOR THE NEXT DAY
*These are from dark's blog*
RODM- has the scary shart I hope to hardly see on stocks. Its on a Bellweather in Play report. Thats about it
AKNS- No news pump. My kinda play.
CNEH- No news pump.
ANPI- nice last few minutes surge in price. Not worth the day trade, but i'll note the chart and add it to my inventory of patterns.
XRA- Lovely no news pump. I hope it falls just as beautifully
XRIT- Nice sideways after NNP on this stock. FALL please. :)
ERHE- A true penny stock pump. I'll keep the name and reserve shares. It might be time for me to reap the huge %tage movements of a true pennystock!
On another note. Tommorw will be spent with more time spent watching charts and GOTS. The chat room is a great source of CNBC news and I'd like to spend the day with it of as much as possible.
My usual- RDN, ABK,RAMR, SCA,DSL, FMD are always in play too!!!
SCA, TGIC and RAMR are all 1$ plays!!! talk about good positions! Luckily, i'm rooting for a rebound on these steady financials. Don't let overwhelming financial turmoil spread fog over the good companies out there. Now is the time to find good buy in's on these!
NYT IPO alert
FLDM is going public tommorw. This Lehman brothers venture capital group find has it's big public offering in the worst week of 2008. Shares will struggle to maintain value and shorting might be better. Remember this isn't the dot com boom. Right now, you're played for what you are worth and more often less than that.
YESTERDAYS PICKS
Airlines were definitely in play today! DAL, UAUA, LCC etc. Down big on rising crude oil. I'm liking the inverse relationship.
RAMR, TGIC, and RDN had good intraday movements. Of course, yours truly sat on the sidelines.
VLNC- A pick by timothy sykes, and was well talked about in the GOTS chat room. Didn't hit the action we'd all like, but I doubt this is done.
FBR- Also not triggered. Tommorw is another day.
FOR THE NEXT DAY
*These are from dark's blog*
RODM- has the scary shart I hope to hardly see on stocks. Its on a Bellweather in Play report. Thats about it
AKNS- No news pump. My kinda play.
CNEH- No news pump.
ANPI- nice last few minutes surge in price. Not worth the day trade, but i'll note the chart and add it to my inventory of patterns.
XRA- Lovely no news pump. I hope it falls just as beautifully
XRIT- Nice sideways after NNP on this stock. FALL please. :)
ERHE- A true penny stock pump. I'll keep the name and reserve shares. It might be time for me to reap the huge %tage movements of a true pennystock!
On another note. Tommorw will be spent with more time spent watching charts and GOTS. The chat room is a great source of CNBC news and I'd like to spend the day with it of as much as possible.
My usual- RDN, ABK,RAMR, SCA,DSL, FMD are always in play too!!!
SCA, TGIC and RAMR are all 1$ plays!!! talk about good positions! Luckily, i'm rooting for a rebound on these steady financials. Don't let overwhelming financial turmoil spread fog over the good companies out there. Now is the time to find good buy in's on these!
Tuesday, September 16, 2008
Todays trades + tommorw
What a day. Black monday followed by turmoil over AIG's fate + sinking Ibanks + release of FFrate.
FFR- unchanged at 2.00
AIG- post market chat of bailout but very volatile day + a missed entry and exit of about 500. Should have followed MUDDY and the chatroom! He makes money all the time.
Sinking Ibanks recovering after US approves AIG bridge loan + those earnings that were never factored into stock price.
Crazy day, and still I am upset that I am not serious about day trading enough to maintain this blog and wake up for the market.
PICKS FOR TOMMORW.
Darkside
MER + AIG having good intraday action. Buying off lows and selling off highs is the way to go here. While everyone worries about the fate.... scalps on these extremely liquid stocks mean huge %tage movements!
NWA, DAL, LCC, UAUA....Airlines are rallying of lower gas. Could this be their comeback? They have been very undervalued admist soaring oil prices. A buyin long might be inorder!
NoNewsPumps
VLNC- loving this chart
FBR- strange EOD spike.
thats plenty more than I have the charting capacity to watch.
Remember, we're not in a recession... i kid i kid.
FFR- unchanged at 2.00
AIG- post market chat of bailout but very volatile day + a missed entry and exit of about 500. Should have followed MUDDY and the chatroom! He makes money all the time.
Sinking Ibanks recovering after US approves AIG bridge loan + those earnings that were never factored into stock price.
Crazy day, and still I am upset that I am not serious about day trading enough to maintain this blog and wake up for the market.
PICKS FOR TOMMORW.
Darkside
MER + AIG having good intraday action. Buying off lows and selling off highs is the way to go here. While everyone worries about the fate.... scalps on these extremely liquid stocks mean huge %tage movements!
NWA, DAL, LCC, UAUA....Airlines are rallying of lower gas. Could this be their comeback? They have been very undervalued admist soaring oil prices. A buyin long might be inorder!
NoNewsPumps
VLNC- loving this chart
FBR- strange EOD spike.
thats plenty more than I have the charting capacity to watch.
Remember, we're not in a recession... i kid i kid.
Sunday, September 14, 2008
Stocks
LEH- If i had a day trade, i'd definetly short. I'm considering putting my worth in this one and shorting, but the reserved part of me won't let it happen. I know this Titanic is going to sink, but I'm not one to hit a home run at the bottom of the ninth with the bases loaded. If i miss, the outcome could be very bad for my continuing education i nthe market. I think i'll put up to half of my worth in this short tommorw morning after the short squeeze. DONE.
some macro-market things to mention
Morgan and Goldman earnings out this week. BIG news for the banking hype type people out there.
WALK- Nice pump on this one. No news. Welcome to my kinda play. 5's
SSN-not your social security number, but my average type of short. Mid 1's
haha, I compile this list by finding a stock and writing it up chronologically. I should just list the pumps in one section
ANO- same as the two above. Mid'1s
PAL-pump, 3
WGW-pump, mid 1's
RDN and financials alway welcome. Again i'd watch this with my one hour no trade policy.
SCA,ABK,DSL,FMD
RAMR- Same one hour no trade policy. Its a big mover and i'll keep up with it for as long as it keeps those nice day ranges.
Happy trading!
some macro-market things to mention
Morgan and Goldman earnings out this week. BIG news for the banking hype type people out there.
WALK- Nice pump on this one. No news. Welcome to my kinda play. 5's
SSN-not your social security number, but my average type of short. Mid 1's
haha, I compile this list by finding a stock and writing it up chronologically. I should just list the pumps in one section
ANO- same as the two above. Mid'1s
PAL-pump, 3
WGW-pump, mid 1's
RDN and financials alway welcome. Again i'd watch this with my one hour no trade policy.
SCA,ABK,DSL,FMD
RAMR- Same one hour no trade policy. Its a big mover and i'll keep up with it for as long as it keeps those nice day ranges.
Happy trading!
This whole experience is one in a million.
This summer I read several books that gave me a thorough education on what banking is and what banking is in America. I was fascinated. I was so skeptical about Economics before this summer. To me, a bank gave loans and was a well insured safe for storing money. Boy was I wrong. How else could bankers be making so much just connecting buyers with sellers of capital? This is capitalism baby. You don't sit on top of thousands of dollars of cash. You make your cash work for you. You invest.
Before this summer, Investing to me was AAPL and GOOG. Also hilarious, these were my only indicators of the market status. If GOOG was above 550, the market was great. I had a weak understand of supply and demand, and ECON 101 was a bunch of bullshit theory.
My education started with seeing how investment banks raised capital and kept trading floors and expanded to the world of private equity. Again, I was fascinated. Dollar units were billions and millions. More often, billions. Markets were made by everyones contribution, yet not one contributor knew what would hapeen next. A great paradox for the market makers themselves(specialists) that support these contributors, but I woudln't have found so much free information if many people had not exploited the system and profited.
From Michael Lewis, I got educated about the Mortgage Giants FRE and FNM. Icouldn't believe how clever people like Lewie Ranieri, a IB mailroom clerk that woound up, trading billions of dollars worth of morgages, packaged mortgages and connected buyers and sellers to make a tradebale security out of millions of average joe's trying to buy homes. Consumer spending is 2/3 of GDP! Wall street had just exploited america's biggest source of income!!!!
Of course, FNM and FRE are now trading below 1.00. AFter reading about their explosion in the 80's I saw these giants fall to the gutter. I read about Lehman as a top recruiter for Ibankers at Wharton and saw it fall to shit. Today, MER was bought out by BAC. Brilliant. This year will go down in history. Books will be written, models will be made, and classroms of kids will hear about this for years. I was excited the day that 9/11 happened becuase I knew I was living through a historical moment. Today, I realized the same is happening again. A sell off warranted by fear from a terrorist attack is nothing compared to a sell off from LEH going under. THink about all of the credit related bonds and other securities that just get defaulted. It's like buying someone's Rolls Royce on account, driving it for a month, then wrecking it and taking a shit in the drivers seat before returning it to the seller.
ladies and gentlemen, as our fearless leaders like to say. We are not in a recession. :)
Before this summer, Investing to me was AAPL and GOOG. Also hilarious, these were my only indicators of the market status. If GOOG was above 550, the market was great. I had a weak understand of supply and demand, and ECON 101 was a bunch of bullshit theory.
My education started with seeing how investment banks raised capital and kept trading floors and expanded to the world of private equity. Again, I was fascinated. Dollar units were billions and millions. More often, billions. Markets were made by everyones contribution, yet not one contributor knew what would hapeen next. A great paradox for the market makers themselves(specialists) that support these contributors, but I woudln't have found so much free information if many people had not exploited the system and profited.
From Michael Lewis, I got educated about the Mortgage Giants FRE and FNM. Icouldn't believe how clever people like Lewie Ranieri, a IB mailroom clerk that woound up, trading billions of dollars worth of morgages, packaged mortgages and connected buyers and sellers to make a tradebale security out of millions of average joe's trying to buy homes. Consumer spending is 2/3 of GDP! Wall street had just exploited america's biggest source of income!!!!
Of course, FNM and FRE are now trading below 1.00. AFter reading about their explosion in the 80's I saw these giants fall to the gutter. I read about Lehman as a top recruiter for Ibankers at Wharton and saw it fall to shit. Today, MER was bought out by BAC. Brilliant. This year will go down in history. Books will be written, models will be made, and classroms of kids will hear about this for years. I was excited the day that 9/11 happened becuase I knew I was living through a historical moment. Today, I realized the same is happening again. A sell off warranted by fear from a terrorist attack is nothing compared to a sell off from LEH going under. THink about all of the credit related bonds and other securities that just get defaulted. It's like buying someone's Rolls Royce on account, driving it for a month, then wrecking it and taking a shit in the drivers seat before returning it to the seller.
ladies and gentlemen, as our fearless leaders like to say. We are not in a recession. :)
Wednesday, September 3, 2008
3 trades down .3%
Wow. 3 months of paper trading don't compare to how much more I've learned on real money. I used 3 trades on 2 different securities over the past 5 days, all short plays.
First short was PMI. I sold at 2.84. This was really a bad trade. It was unresearched and really just me betting anxious because my account was funded and I wanted to try it out. The stock was in the red and I thought a tank was in order even though other financials weren't going south. I did it anyway. Set my stop at 2.85 and once it cracked, I was in my first trade in the stock market. It did well. It tanked and I bought back at 2.78. Only 500 shares so my order wasn't that big and I wasn't seeing big enough movement for this to be worth commission and more importantly MY LIMITED trades. I have learned very quickly that I need to invest more and see big movement. So it was before 10AM and i had a small gain on my first trade ever. I wasn't going to settle. I thought this would fall again. So minutes later I re enter. Day trade number 2... gone. I sold off at 2.78. Totally uncalled for. It ran up and was soon over 2.80. I had definetly given back my gains since commissions are so steep with such small positions. The one good thing I did was use good stop losses. I limited my loss to 1% by setting my buy stop at 2.85. It hit and I ended my first day trading down 45$.
Lessons learned: Research is a must whether you want to take big positions or not. I have a small account and commissions will be my enemy.
My ego was bruised. But becuase I'm such a cheapskate I took this very personally. I was not going to allow myself to act this way and burn money. I wanted my money back and I knew I had simply acted poorly.
My next trade wasn't untill 3 trading days later. Yesterday I saw out DLIA on the % gainers list.
Dark side's picks weren't showing the morning action I like and the chat room was moving too quick for me as usual. I saw that DLIA had a good day after an earnings pump. So far the stock was hovering around the day before's close so I saw short potential and put a sell stop two cents under the day befores close. I waited and waited with my sound on high in case I wasn't staring at the char the moment it fell. I had a good feeling it was but after 2 hrs i was starting to lose hope. I kept waiting, even showered. Suddenly I heard that magic TOS trade execution noise. It tanked... hard. It fell so quick my stop wasn't executed until 5 cents later. at 2.43 I was short 1000 shares. It dipped to 2.20 realy quick and I had to take a share of my profits so i did. Within 30 seconds of hearing the noise that the order went through, I was out half of my postion in DLIA. I was sitting on nearly 50$ of profit but then it hit me. Or rather the TOS software told me so quickly. I had just committed my third and last day trade but was still in my short 500 shares.
Another lesson very quickly learned. I can't do this!!! i'm in a 5K account. I need to sell at once to conserve trades. Opportunities are every day. I gotta have trades ready. I started freaking out and explaining everything to Cameron, while also chatting with GS from the GOTS chat room who explained that I was still ok. I could buy back the rest of my position and still not be in offense of breaking the pattern day trader rule. All i had to do was call up TOS. I quickly had the trade re-credited to my account but DLIA had shot up. It was now around 2.55. Again I was losing my gains and commissions were tearing away at them as well. I set a stop loss at 2.61 thinking it'd have a hard time breaking 2.60 luckily it never got that close. I held for the rest of day and saw it fall to 2.45 right before close. I set a buy stop at 2.50 during after hours thinking it'd help my prevent losing more, which was totally correct but i have not experience with how after market trading worked. During aftermarket I saw a 2000 bid and a 2.10 ask on my poor little DLIA stock. I was confused but some GOTS fellows assured me it was normal. What i didn't know was that a wacky bid ask would be introduced at the open and sure enough my order went trhoug at the bell since the bid was 2.41and ask was 2.57. Some how I bought back the rest of my postion at 2.41 and I netted 30$ post commissions. I'm now sitting at $4881.01 with many lessons learned. I think that I did ver well with these first trades
I thought if i went red on my first trade i'd be devasted. I've realized that I really do have to wait for the perfect opportunity and not stress over that fact that i'm putting 5 grand on the line with my bets. I don't crunch the numbers like they are dollars, just points like they were on my paper account. With that, i'm ready for some fresh opportunties tommorw.
No picks at the moment. Research will be done in the morning.
Plenty of picks for you on Darkside, TIM, MIKE, and super-trades, as well as Yngvai.
Yeehaw
First short was PMI. I sold at 2.84. This was really a bad trade. It was unresearched and really just me betting anxious because my account was funded and I wanted to try it out. The stock was in the red and I thought a tank was in order even though other financials weren't going south. I did it anyway. Set my stop at 2.85 and once it cracked, I was in my first trade in the stock market. It did well. It tanked and I bought back at 2.78. Only 500 shares so my order wasn't that big and I wasn't seeing big enough movement for this to be worth commission and more importantly MY LIMITED trades. I have learned very quickly that I need to invest more and see big movement. So it was before 10AM and i had a small gain on my first trade ever. I wasn't going to settle. I thought this would fall again. So minutes later I re enter. Day trade number 2... gone. I sold off at 2.78. Totally uncalled for. It ran up and was soon over 2.80. I had definetly given back my gains since commissions are so steep with such small positions. The one good thing I did was use good stop losses. I limited my loss to 1% by setting my buy stop at 2.85. It hit and I ended my first day trading down 45$.
Lessons learned: Research is a must whether you want to take big positions or not. I have a small account and commissions will be my enemy.
My ego was bruised. But becuase I'm such a cheapskate I took this very personally. I was not going to allow myself to act this way and burn money. I wanted my money back and I knew I had simply acted poorly.
My next trade wasn't untill 3 trading days later. Yesterday I saw out DLIA on the % gainers list.
Dark side's picks weren't showing the morning action I like and the chat room was moving too quick for me as usual. I saw that DLIA had a good day after an earnings pump. So far the stock was hovering around the day before's close so I saw short potential and put a sell stop two cents under the day befores close. I waited and waited with my sound on high in case I wasn't staring at the char the moment it fell. I had a good feeling it was but after 2 hrs i was starting to lose hope. I kept waiting, even showered. Suddenly I heard that magic TOS trade execution noise. It tanked... hard. It fell so quick my stop wasn't executed until 5 cents later. at 2.43 I was short 1000 shares. It dipped to 2.20 realy quick and I had to take a share of my profits so i did. Within 30 seconds of hearing the noise that the order went through, I was out half of my postion in DLIA. I was sitting on nearly 50$ of profit but then it hit me. Or rather the TOS software told me so quickly. I had just committed my third and last day trade but was still in my short 500 shares.
Another lesson very quickly learned. I can't do this!!! i'm in a 5K account. I need to sell at once to conserve trades. Opportunities are every day. I gotta have trades ready. I started freaking out and explaining everything to Cameron, while also chatting with GS from the GOTS chat room who explained that I was still ok. I could buy back the rest of my position and still not be in offense of breaking the pattern day trader rule. All i had to do was call up TOS. I quickly had the trade re-credited to my account but DLIA had shot up. It was now around 2.55. Again I was losing my gains and commissions were tearing away at them as well. I set a stop loss at 2.61 thinking it'd have a hard time breaking 2.60 luckily it never got that close. I held for the rest of day and saw it fall to 2.45 right before close. I set a buy stop at 2.50 during after hours thinking it'd help my prevent losing more, which was totally correct but i have not experience with how after market trading worked. During aftermarket I saw a 2000 bid and a 2.10 ask on my poor little DLIA stock. I was confused but some GOTS fellows assured me it was normal. What i didn't know was that a wacky bid ask would be introduced at the open and sure enough my order went trhoug at the bell since the bid was 2.41and ask was 2.57. Some how I bought back the rest of my postion at 2.41 and I netted 30$ post commissions. I'm now sitting at $4881.01 with many lessons learned. I think that I did ver well with these first trades
I thought if i went red on my first trade i'd be devasted. I've realized that I really do have to wait for the perfect opportunity and not stress over that fact that i'm putting 5 grand on the line with my bets. I don't crunch the numbers like they are dollars, just points like they were on my paper account. With that, i'm ready for some fresh opportunties tommorw.
No picks at the moment. Research will be done in the morning.
Plenty of picks for you on Darkside, TIM, MIKE, and super-trades, as well as Yngvai.
Yeehaw
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