1. #71
    jjgold
    jjgold's Avatar Become A Pro!
    Join Date: 07-20-05
    Posts: 388,190
    Betpoints: 10

    Man it does not look great
    Everyone's mutual funds going to nothing
    401K Plans getting pounded

  2. #72
    OmgUrMom
    OmgUrMom's Avatar Become A Pro!
    Join Date: 02-07-10
    Posts: 8,481

    rough day, thoughts on BkofAma stock? Does warren buffet ever make a mistake? Think he put $5 billion into them at around $7, down to about 5.50$

  3. #73
    AceKingHigh
    Going for the Win!
    AceKingHigh's Avatar Become A Pro!
    Join Date: 10-23-09
    Posts: 3,888
    Betpoints: 3454

    BUYING opportunity on BAC if you ask me... I'm holding 'em at least till 6.50-7 right now, good luck to us!

    Hopefully the idiots from Europe will sober and save Greece for GOOD already!

  4. #74
    antifoil
    Update your status
    antifoil's Avatar Become A Pro!
    Join Date: 11-11-09
    Posts: 3,993
    Betpoints: 6611

    this is why coming up with a betting model that gives you an edge over oddsmakers is time better spent than researching stocks. the betting market is easier to interpret and more efficient.

  5. #75
    FindTheLock
    ...
    FindTheLock's Avatar Become A Pro!
    Join Date: 02-27-10
    Posts: 7,194
    Betpoints: 191

    i dunno boys. I think BAC is on it's last legs. The time has come to end that tyrants reign and buffet probably already abandoned ship when the price jumped from 6 and some change to 9 a month or so ago when he pulled the trigger. He probably pulled a hit and run and made the hit public so he could steal from the common folk when he was running.

  6. #76
    jarvol
    jarvol's Avatar Become A Pro!
    Join Date: 09-13-10
    Posts: 6,074
    Betpoints: 3670

    Quote Originally Posted by milwaukee mike View Post
    do you have any calls as a hedge against bac short? i have some $20 ms puts that are making me pretty happy right now but that's my only position in any financial...
    Why hedge a winning position? What are you gonna do get long the market or another financial? If the S&P doesn't hold 1101 then it is going to 1040. If it holds 1101 then cover your puts.

  7. #77
    milwaukee mike
    milwaukee mike's Avatar SBR PRO
    Join Date: 08-22-07
    Posts: 26,906
    Betpoints: 7585

    Quote Originally Posted by jarvol View Post
    Why hedge a winning position? What are you gonna do get long the market or another financial? If the S&P doesn't hold 1101 then it is going to 1040. If it holds 1101 then cover your puts.
    holding a naked short is pretty scary, that's why i asked. not like it's going to happen, but you could wake up tomorrow to see wfc buying out bac for $15/share and get creamed.

    and for the guys thinking bac is "cheap" or a "bargain" at $5, bac is holding so much crap that the stock is probably worthless. think of all that countrywide garbage they still have, speaking of which a lot of people thought countrywide, bear stearns, lehman brothers, worldcom, enron, global crossing, etc etc were "cheap" on the way down to 0.

    warren buffett didn't buy the common, he bought PREFERRED shares that pay him a big dividend (10%?) and give him preferential treatment and free stock options.

  8. #78
    milwaukee mike
    milwaukee mike's Avatar SBR PRO
    Join Date: 08-22-07
    Posts: 26,906
    Betpoints: 7585

    Quote Originally Posted by jarvol View Post
    Why hedge a winning position? What are you gonna do get long the market or another financial? If the S&P doesn't hold 1101 then it is going to 1040. If it holds 1101 then cover your puts.
    i think quite the contrary for tomorrow, if the market opens higher i'm shorting. if the market opens down 200 i'm going long on the stuff i mentioned (after the margin calls drive them lower). after the horrific action into the close today, almost always the market flip-flops the next day.

    i can easily see quad going under 15 after the open which would be a huge bargain (1 x ebitda). quad/mgm could easily bounce 10% if they're down big early and vice-versa.

    best of luck guys, there is money to be made out there - embrace volatility!

  9. #79
    jarvol
    jarvol's Avatar Become A Pro!
    Join Date: 09-13-10
    Posts: 6,074
    Betpoints: 3670

    Quote Originally Posted by milwaukee mike View Post
    i think quite the contrary for tomorrow, if the market opens higher i'm shorting. if the market opens down 200 i'm going long on the stuff i mentioned (after the margin calls drive them lower). after the horrific action into the close today, almost always the market flip-flops the next day.

    i can easily see quad going under 15 after the open which would be a huge bargain (1 x ebitda). quad/mgm could easily bounce 10% if they're down big early and vice-versa.

    best of luck guys, there is money to be made out there - embrace volatility!
    Embrace volatility yes....but also respect the technicals. If 1101 doesn't hold it's going to 1040 so why would you buy if the market is down 1 or 2% tomorrow?

    People were touting BAC and Citi as cheap at 30, 20 15, 10, etc then it was if Goldman and MS were at book value or less they were a screaming buy. Well that was 20% or 30% ago.....they are priced well under book value now. Don't be stupid.

  10. #80
    Emily_Haines
    Emily_Haines's Avatar Become A Pro!
    Join Date: 04-14-09
    Posts: 15,878
    Betpoints: 15224

    never a good sign when BkofAma decides to fleece $5 a month from it's few remaining customers. this company is a classic example of what not to do.

  11. #81
    milwaukee mike
    milwaukee mike's Avatar SBR PRO
    Join Date: 08-22-07
    Posts: 26,906
    Betpoints: 7585

    Quote Originally Posted by jarvol View Post
    Embrace volatility yes....but also respect the technicals. If 1101 doesn't hold it's going to 1040 so why would you buy if the market is down 1 or 2% tomorrow?

    People were touting BAC and Citi as cheap at 30, 20 15, 10, etc then it was if Goldman and MS were at book value or less they were a screaming buy. Well that was 20% or 30% ago.....they are priced well under book value now. Don't be stupid.
    jarvol i am buying a couple things after the open if they are getting creamed for one reason only:
    way more than 50% of the time over the last 15 years, when i have seen this kind of downward action and then a 200 point drop at the open, there is a huge reversal. if the reversal happens early it might fade back down today, but i think at some point we'll see a 200 point bounce once the forced margin sellers are done at the open.

  12. #82
    milwaukee mike
    milwaukee mike's Avatar SBR PRO
    Join Date: 08-22-07
    Posts: 26,906
    Betpoints: 7585

    and i agree with you wholeheartedly about the banks, i'm keeping the ms puts and not touching any financials except on the short side.

  13. #83
    milwaukee mike
    milwaukee mike's Avatar SBR PRO
    Join Date: 08-22-07
    Posts: 26,906
    Betpoints: 7585

    3 stocks i mentioned cooking now

    quad - now green up 3% off the low
    jrn - now green up 7% off the low
    mgm - 7.81 now 6% off the low

    took some profits here at 1086 s&p, letting the rest ride - think we're gonna be up on the day or down 350

  14. #84
    Brock Landers
    Forever in Debt to your Priceless Advice
    Brock Landers's Avatar Become A Pro!
    Join Date: 06-30-08
    Posts: 45,360
    Betpoints: 8792

    fuk the market, a road to ruin for more than it helps

  15. #85
    NYSportsGuy210
    NYSportsGuy210's Avatar Become A Pro!
    Join Date: 11-07-09
    Posts: 11,347
    Betpoints: 131

    Buy YHOO! Stock u fools

  16. #86
    abracadabrafrost
    abracadabrafrost's Avatar Become A Pro!
    Join Date: 02-22-11
    Posts: 40
    Betpoints: 1108

    i got 14 grand in exxon and im eatin shitt

  17. #87
    milwaukee mike
    milwaukee mike's Avatar SBR PRO
    Join Date: 08-22-07
    Posts: 26,906
    Betpoints: 7585

    s&p back to 1100

    i'm cashing in my trades for today, nice profits - especially mgm in at 7.51 out at 7.99 and 8.34


  18. #88
    jarvol
    jarvol's Avatar Become A Pro!
    Join Date: 09-13-10
    Posts: 6,074
    Betpoints: 3670

    If you are daytrading Mike then more power to you. I wholeheartedly agree. I thought you were trying to catch a knife and buy these things to hold for a while. If the S&P holds 1101 I will buy all I can and there will be a nice rally even if it is a short-lived bear market rally.

  19. #89
    Joe Dogs
    Joe Dogs's Avatar Become A Pro!
    Join Date: 07-20-09
    Posts: 1,931
    Betpoints: 593

    Good luck,trying to time this market.

  20. #90
    jarvol
    jarvol's Avatar Become A Pro!
    Join Date: 09-13-10
    Posts: 6,074
    Betpoints: 3670

    Zoom, zoom, zoom.

  21. #91
    d2bets
    d2bets's Avatar SBR PRO
    Join Date: 08-10-05
    Posts: 39,773
    Betpoints: 21413

    Huge huge reversal today. Market is even stronger today than the headline numbers. This market is looking for anything to run with. Valuations are quite low.

  22. #92
    d2bets
    d2bets's Avatar SBR PRO
    Join Date: 08-10-05
    Posts: 39,773
    Betpoints: 21413

    Quote Originally Posted by milwaukee mike View Post
    s&p back to 1100

    i'm cashing in my trades for today, nice profits - especially mgm in at 7.51 out at 7.99 and 8.34

    8.74 close, you shoulda held on tight.

  23. #93
    milwaukee mike
    milwaukee mike's Avatar SBR PRO
    Join Date: 08-22-07
    Posts: 26,906
    Betpoints: 7585

    Quote Originally Posted by d2bets View Post
    8.74 close, you shoulda held on tight.
    true but it's hard not to take a 12% profit in an hour


    hope some guys tailed my picks, jrn and mgm rallied big time like i expected

    jrn open 2.72 dip to 2.69 close 3.31 - that's 23%!!
    mgm open 8.26 dip to 7.40 close 8.74 - that's 18%!!

    long-term i'm still bearish but a day like today can make you 5 years worth of cd interest...

  24. #94
    jarvol
    jarvol's Avatar Become A Pro!
    Join Date: 09-13-10
    Posts: 6,074
    Betpoints: 3670

    Well market bounced tremendously as predicted after the S&P held 1101 by going on an 11% run in a week. This afternoon it touched 1220 and started selling off. That isn't a good sign. It really needs to break through 1228 and hold. Otherwise this will be the top of the range yet again and it will be time to sell and get short.

  25. #95
    excel
    unapproved
    excel's Avatar Become A Pro!
    Join Date: 03-25-10
    Posts: 4,270

    volatile

  26. #96
    milwaukee mike
    milwaukee mike's Avatar SBR PRO
    Join Date: 08-22-07
    Posts: 26,906
    Betpoints: 7585

    i think you're right jarvol, in just 6 trading days here's what those 3 stocks i mentioned did

    quad from 15.40 oct 4th to 18.83 close today
    mgm from 7.40 to 9.98 close today
    jrn from 2.69 to 3.76 close today

    you can't tell me those 3 companies are fundamentally 20-40% better off than a week ago

  27. #97
    OmgUrMom
    OmgUrMom's Avatar Become A Pro!
    Join Date: 02-07-10
    Posts: 8,481

    Quote Originally Posted by Brock Landers View Post
    fuk the market, a road to ruin for more than it helps
    i'd say most have a better chance in the market than in sportsbetting

  28. #98
    pavyracer
    MOLON LABE
    pavyracer's Avatar SBR PRO
    Join Date: 04-12-07
    Posts: 82,188
    Betpoints: 304

    Quote Originally Posted by pavyracer View Post
    It's going up from now on. We hit bottom yesterday.


    I was right as usual.

  29. #99
    OmgUrMom
    OmgUrMom's Avatar Become A Pro!
    Join Date: 02-07-10
    Posts: 8,481

    pavy do you think its going to continue upwards from here on out? Whats your estimate for DJI at year end?

  30. #100
    d2bets
    d2bets's Avatar SBR PRO
    Join Date: 08-10-05
    Posts: 39,773
    Betpoints: 21413

    Dow will top 12k at year's end.

  31. #101
    pavyracer
    MOLON LABE
    pavyracer's Avatar SBR PRO
    Join Date: 04-12-07
    Posts: 82,188
    Betpoints: 304

    Quote Originally Posted by OmgUrMom View Post
    pavy do you think its going to continue upwards from here on out? Whats your estimate for DJI at year end?
    DJI will fluctuate between 10500 and 12000 for the rest of the year. I expect it to drop later this month and pick up steam again right after Thanksgiving to close upwards the 12,000 line by year's end.
    Last edited by pavyracer; 10-13-11 at 03:09 PM.

  32. #102
    ebbearsfb1
    ebbearsfb1's Avatar Become A Pro!
    Join Date: 12-07-08
    Posts: 18,815
    Betpoints: 1694

    Quote Originally Posted by pavyracer View Post
    DJI will fluctuate between 10500 and 12000 for the rest of the year. A expect it to drop later this month and pick up steam again right after Thanksgiving to close upwards the 12,000 line by year's end.
    I don't think it drops below a 11,00... you in the market pavy?

  33. #103
    pavyracer
    MOLON LABE
    pavyracer's Avatar SBR PRO
    Join Date: 04-12-07
    Posts: 82,188
    Betpoints: 304

    Quote Originally Posted by ebbearsfb1 View Post
    I don't think it drops below a 11,00... you in the market pavy?
    Bought on 9/22 and sold yesterday. Rode the climb from 10500 to 11500 and now waiting on the sidelines with cash. If there is another unjustified panic selling I'm jumping in at 10500 again.
    Points Awarded:

    bb_skoots gave pavyracer 2 SBR Point(s) for this post.


  34. #104
    OmgUrMom
    OmgUrMom's Avatar Become A Pro!
    Join Date: 02-07-10
    Posts: 8,481

    thanks for your input

  35. #105
    Dutch
    Honky Lips
    Dutch's Avatar Become A Pro!
    Join Date: 09-21-10
    Posts: 4,339
    Betpoints: 736

    Quote Originally Posted by Dutch View Post
    ...make another killing buying BAC after todays drop and then selling at $7 in a couple of weeks...


    It's at $7.34 in after hrs today. Almost too easy. There was a 100% chance this stock was gonna bounce back to at least $7. Ford (F) was even better for me.

    Now wait for bad news from Euro banks, BAC will drop back to $6 and do it all over again.

    Buy low sell high...or wait for the market to drop and then bitch about how it's a scam.

First 1234 Last
Top