June 2012 Trading Thread

[tastychicken2]

Originally Posted by permabear

Savant I will BET you, that you get squeezed tomorrow, maybe a new wallet I know I could use one my money clip has been stretched to max capacity, like your line of credit bro.

Truth is I dont know why hipsiguy got banned, he told someone they were terrible, lol...

and i was about to say betting on how the markets will perform the next day is completely stupid.......

looks like people still do it

[savant111]

Originally Posted by tastychicken2

and i was about to say betting on how the markets will perform the next day is completely stupid.......

looks like people still do it

Somebody has trouble detecting sarcasm

[blobbloblob]

I don't feel this is new threadworthy, so I'll post my question here. I'm from the US and new to investing and I was wonder what are the best sites around for this. I don't know much about getting a stockbroker and I think doing it online would be more convenient. Also are there any type of bonuses or promotions like poker with these online sites.

[savant111]

Originally Posted by blobbloblob

I don't feel this is new threadworthy, so I'll post my question here. I'm from the US and new to investing and I was wonder what are the best sites around for this. I don't know much about getting a stockbroker and I think doing it online would be more convenient. Also are there any type of bonuses or promotions like poker with these online sites.

I know a lot of people who like Interactive Brokers. Yes many sites have sign up promotions if you put enough money in(trade free for 60 days etc).

Definitely study/learn a little bit before you put money in. When you are ready to trade only deposit 20% or so of what your total bankroll will be until you get comfortable.

[JBmadera]

Originally Posted by blobbloblob

I don't feel this is new threadworthy, so I'll post my question here. I'm from the US and new to investing and I was wonder what are the best sites around for this. I don't know much about getting a stockbroker and I think doing it online would be more convenient. Also are there any type of bonuses or promotions like poker with these online sites.

Depends on what you are trading. For futures only I like Infinity Futures. For equities,options,futures,forex etc I like TOS (thru tdameritrade). Most online brokers offer a certain number of free equity trades

[savant111]

Originally Posted by highstakesfan

I would move stop down and protect half your profit on a short position. I doubt anyone saw this weak a day unfolding.

First of all nice call today. Today unfolded exactly how you said it would.

Idk about a rally tomorrow. Volume was decent to the downside, We still need to work off the overbought condition (We are at least certainly not oversold yet), and there isn't really a catalyst out there to drive us higher.

We are on a mini support area, but I kind of see it breaking. I'd like an extra point and a half before peeling off some and support is stronger down there.

I also feel that logic is out the window in this market so we'll see.

[NajdorfDefense]

Originally Posted by NajdorfDefense

UBNT down another 20% in 5 days...where'd that PumpNDump clown go?

LOL.....ubnt down another 33% since this post 5 days ago.

[savant111]

Originally Posted by NajdorfDefense

LOL.....ubnt down another 33% since this post 5 days ago.

You really think it was a pump and dump? IBD had it on their top 50 at one point.

Congrats on being right though.

[savant111]

Originally Posted by JayTeeMe

Ouch, terrible morning for coal/steel stocks.

WLT -3.5%
ANR -5.2%
X -4.5%
JOY -2.5%

Careful with the WLT bro. Don't know anything about the company, but that is very scary chart.

[JayTeeMe]

Originally Posted by savant111

Careful with the WLT bro. Don't know anything about the company, but that is very scary chart.

I bought the 1000 shares, sold 10 covered calls, almost hit the strike and started doing the superbowl shuffle. Now a -6.6% day happened and I'm looking at selling for a loss and having to buy back my calls (at half price but still).

Why is the chart so scary. Because the big moves down were all on heavy volume? I know nothing about technicals. I'm looking at a company with a 7.7 PE in a sector that's been annihilated. Bottom's gotta be close!

[savant111]

I just want to preface by saying I'm an avg trader not an expert. Also, I know literally nothing about the company or it's long term outlook. So this all depends on your time frame. Here is what I see, take it fwiw:

Volume was just avg, which is actually a postive for you, it does look like selling is getting a little bit exhausted.

1) It made a new 52 week low. 52 week lows tend to go lower.

2) The general market certainly has the potential to go another 100 points lower on the S&P this will likely do further damage to your stock.

.3) Most importantly I can't find an area of support (A price in the past where there has historically been in demand) for the stock between here and 40.31. To me barring an immediate market rally you have to go to back to the fall of 2008 to find a small area of demand @ $40.41 where it might get a lift. or $39.54 from the summer of 09 may find support. I'd say absolute rock bottom is probably around $27.50.

(CKY, Sam, HSF if you can double check this for me I'd appreciate it).

Doesn't mean it has to drop to $40.41 (also you may get a relief rally before it heads lower), but I don't see the odds in your favor here in the short/intermediate term as there are two big gaps it could fill. I'd need an awesome fundamental reason to be in this stock right here.

[highstakesfan]

90% of what hipsiguy wrote was loco, incoherent, and made the ramblings of a lunatic seem intelligent in comparison.

[savant111]

Goog looks like it can break down pretty bad soon. Keep an eye on it.

[tastychicken2]

Originally Posted by highstakesfan

90% of what hipsiguy wrote was loco, incoherent, and made the ramblings of a lunatic seem intelligent in comparison.

no. it was coherent. "i think the s&p is a losers game and will go down. it will go up because people are rigging." aka market will move

[steelhouse]

Originally Posted by JayTeeMe

Ouch, terrible morning for coal/steel stocks.

WLT -3.5%
ANR -5.2%
X -4.5%
JOY -2.5%

I got ARLP to hold forever most likely, seem to raise dividend every quarter.