Stock Futures Up Strong Right Now

[wtf]

hsbc about to fire another 30k

yes, economy on fire

look for a good number this week

[Emily_Haines]

WTF

it's down 80

what happened to the massive rally?

i thought this fuker was going to 13k today?

[Cougar Bait]

Cougar Bait-
I just opened an option spread position on GE this morning by buying 20 contracts of GE Sep 18s and selling 20 Aug 18s (calls). Generally speaking, I feel uncomfortable trading this market, however, there is coin that can be made using spreads and straddles in a conservative manner. I deal primarily in puts/calls on SPY, BAC and GE. I never buy unprotected options but do hedges. In my opinion, GE is a great bargain as they have a huge amount of cash on hand because they pay little or no federal taxes and are sitting on this treasure over in Europe. Bottom line is that it is highly likely that they would buy their own shares at any weakness thereby putting a floor on the downside.

Some things I love about GE right now, GE's second-quarter earnings were impressive. Profits rose 21% year over year to $0.35 per share, marking the fifth consecutive quarter of double-digit earnings growth. This is important, and especially important in a down economy. They are also incredibly diverse. They make appliances, light bulbs, jet engines, health-care equipment, and nuclear reactors. They are also big into new and improved technologies. Look at their hold on the LED light bulb market, and their involvement in smart grid technology.

I bought into this company HUGE around 7 dollars a share (not it's ultimate low point but close). With that spread isn't your potential profit limited by the potential losses on the out of the money call? I know you can see some nice leverage, but the swings in value as a result of relatively small changes in the underlying stock price, creates enormous risk compared to holding the stock. Yes or no?

[BewareOf5Dimes]

Wow....first time I have ever seen every single person be wrong about something. Amazing...


Better stick to betting fake points and ordering pizzas....lol

[jjgold]

Market gettin lower and lower


300 point swing

[Emily_Haines]

down 725 in last six days

glad i dumped my 401k

economy is a joke

[pavyracer]

I told you JJ last night the market will tank today. Leave the stock advice for the ones who know what they are doing.

[jjgold]

Thanks Paver

In hole now

I was up last night and should of sold

[wtf]

not going down

good call

[jarvol]

Yes you should have sold the early rally or at least when the S&P broke its 200 day moving avg at 1284....bad technicals in the market.

[jjgold]

Brutal day
Euro getting smashed

[Cougar Bait]

Not selling off quite yet, bankers that control Obama will not allow the market to collapse before the next election cycle.

Good days and bad days will happen between now and then but going to keep feeding into market through the next year or so.

[jjgold]

I hope do Cougar

It's all seems like a game

[Brock Landers]

posting during the day Cougar? thats new for you..

[Cougar Bait]

posting during the day Cougar? thats new for you..

Not really, I usually spot post during the day, but today I have off.

Going to Iowa City tonight, plan on drinking there for the bday (actually tomorrow).

[ChuckyTheGoat]

Cougar, are u cleaning up today? Up 4 figures on the mkt today?

[itchypickle]

Market gettin lower and lower


300 point swing

Coach.....refer to my post at top of this thread - hope ya took that advice pal

It's an easy train to ride if you follow the breakouts to the +/- sides on a time of the day trend....futures open fairly high but it's hard to sustain the trade levels in order to keep it bumping up....institutional traders take off for lunch....then start closing out the day with the down swings/profit taking......play the ETFs preferably 2x+ leveraged ones if you can on these swing trades. I do it from my home acct with TDAmeritrade even though my $$$ guy at the bank calls me an idiot.....but this is how I choose to play with my spec %.

[Shack]

Wee! See saw all the way. Trade, trade, trade.

[ChuckyTheGoat]

Mkt sharps all over this thread. Salud.

[agharah1]

By now it should be fairly obvious to everybody what happened on Wall Street today: people took their money out of Gold, Oil, and stocks and shoved them into bonds. Its great and all that we avoided a default, but there's still no faith that the spending cuts in this bill will either promote economic growth or encourage businesses to hire.

[itchypickle]

By now it should be fairly obvious to everybody what happened on Wall Street today: people took their money out of Gold, Oil, and stocks and shoved them into bonds. Its great and all that we avoided a default, but there's still no faith that the spending cuts in this bill will either promote economic growth or encourage businesses to hire.

Keep in mind, it's still a proposal agreed upon behind closed doors by the leadership......still not a given that it will even pass. We'll see...I've heard a few on both sides leaning no....House and Senate.

[alukk]

Daily traders lose long term

[itchypickle]

Daily traders lose long term

The ones who count this as their entire investment strategy do but it's not hard to make a profit long term by doing it when you find a good spot in the trading ranges.

[alukk]

The ones who count this as their entire investment strategy do but it's not hard to make a profit long term by doing it when you find a good spot in the trading ranges.

Your talking bout spots, i meant daily (everyday), daily trading is about speculation and you should not speculate imo.

[itchypickle]

Your talking bout spots, i meant daily (everyday), daily trading is about speculation and you should not speculate imo.

i'ealways been a big fan of some small speculations if you do the homework ahead of time (never more than 15% of our nest $$$ going in though). The reason being - if you stay within the safer areas (forget the pinks/grey sheets) you can make a good return within a day to a week by following trends...and relatively safe as long as you are disciplined enough to plan ahead on your stops. Great % chance there will always be a buyer on the way out unlike the pink sheets. Be smart and take some money off the table to include at least your initial basis and then wait for the next one. I'll swing trade about 6/8 times a year and over the years have been decent at it - my best runs were in 09 with FAS/FAZ hopping in and out of them....WFC....WAMU during the courst settlements about the $40 mil owed....and shorting the hell out of Spongetech after it became clear that was a scam and soon to go down down down down. I'm pretty much long term heavy now on open positions with Bronco Drilling and a few others.....just left Ford a few months ago after a great from the bottom with them.

[alling]

Not selling off quite yet, bankers that control Obama will not allow the market to collapse before the next election cycle.

Good days and bad days will happen between now and then but going to keep feeding into market through the next year or so.

Average Joe doesn't care about the stock market. Fact is under Obama S&P about 60%. Yet Obama's approval rating at 40%.

Jobs Jobs Jobs

[jjgold]

Market just flat

way too much uncertainty out there

[Statman]

WIll be interesting to see what happens today. Markets came all the way back to be down only -10 pts from yesterday..

[topgame85]

Early data not looking good for today. Could get ugly..........

[andywend]

84740367-17/31/11 9:07pm$205.00$50.00Pending8/1/11 12:30am DOW Jones Other Sports 101 Dow Up Monday -410* vs Dow Down Monday

There's only one thing better than a die-hard left-wing lunatic losing money and thats when I am on the other side.

Wager details for ticket number 84742360-1:
Wager Type:Money LineWager Status:WinRisk / To Win Amount:20.00 / 80.00 (USD) Accepted 7/31/2011 10:32 PM - ESTWon: 80.00Amount Paid: 100.00Sport / PeriodOW Jones Other Sports / Game Line:Dow Down Monday 8/1/2011 0:30:01 AM - (EST)+400Opponentow Up Monday
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Wager details for ticket number 84742665-1:
Wager Type:Money LineWager Status:WinRisk / To Win Amount:20.00 / 80.00 (USD) Accepted 7/31/2011 11:05 PM - ESTWon: 80.00Amount Paid: 100.00Sport / PeriodOW Jones Other Sports / Game Lineow down Monday 8/1/2011 0:30:01 AM - (EST)+400Opponentow Up Monday
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Wager details for ticket number 84745963-1:
Wager Type:Money LineWager Status:WinRisk / To Win Amount:20.00 / 80.00 (USD) Accepted 7/31/2011 11:26 PM - ESTWon: 80.00Amount Paid: 100.00Sport / PeriodOW Jones Other Sports / Game Line:Dow Down Monday 8/1/2011 0:30:01 AM - (EST)+400Opponentow Up Monday

[jjgold]

The days of big stock market runs are gone
Best to just sell calls

[jimk6969]

i hear you its like monopoly money