Why do some people keep going long in this market.

UntilTheNDofTimE · 08-08-11, 09:04 PM

I made like 8 months salary today i have a very bullish position on BAC and if it hits my strike price in next day or so i might be able to quit my job.

JimmysEgo · 08-08-11, 09:04 PM

yeah, lets buy Gold at its history high (buy high sell low right?).

Ice Cream is on sale at Kroger's right now but don't buy it! Wait for it to be $100 a pint before you buy it.

lemart5 · 08-08-11, 09:06 PM

8 months salary on what ?I made $780,000 today shorting V and MA

lemart5 · 08-08-11, 09:07 PM

Originally posted by JimmysEgo

yeah, lets buy Gold at its history high (buy high sell low right?).

Ice Cream is on sale at Kroger's right now but don't buy it! Wait for it to be $100 a pint before you buy it.

Central banks are taking delivery of gold this almost
never happens.

UntilTheNDofTimE · 08-08-11, 09:07 PM

Been on FAZ back for the last week been making so many calls on it. I wish i had more liquid $

UntilTheNDofTimE · 08-08-11, 09:09 PM

Was shorting BAC this morning and had multiple puts on it.

Brock Landers · 08-08-11, 09:12 PM

have a ton of money in my 401K you motherfukker

lemart5 · 08-08-11, 09:14 PM

The money that was
made by me today gives me a hard on just thinking
about it.I hope you can quit that Pepsi job soon njoy that money you made.

Trident · 08-08-11, 09:14 PM

Originally posted by lemart5

I made $780,000 today shorting V and MA

JimmysEgo · 08-08-11, 09:15 PM

Originally posted by lemart5

Central banks are taking delivery of gold this almost never happens.

I don't know. i work at a gas station and i'm just tired of everyone going to buy ice cream at Kroger's instead of here.

SBR_John · 08-09-11, 08:51 AM

Originally posted by lemart5

Get NET Short everything.Buy gold silver and miners .Build cash because value is here but the bottom will not be in for another 10 months .This is you second opportunity to get rich do not miss it.

No thanks.You make money buying great companies and holding them.

Deep_Rest · 08-09-11, 09:12 AM

Today seems like a broad-market short squeeze. I think we resume the downtrend throughout the week. However, there aren't any catalysts for 600-point shellackings like yesterday.

My action so far:

Short BAC @ 7.01 I honestly think they'll go BK. Nobody believes me, but I'm putting my money where my typing fingers are!

Short DIS @ 33.39 I think they'll have a bad earnings report later today.

Thinking about getting on the sugar wagon but its already up 7%...(SGG)

scottie2005 · 08-09-11, 09:14 AM

Originally posted by SBR_John

No thanks.You make money buying great companies and holding them.

Ding Ding!! We have a winner

scottie2005 · 08-09-11, 09:16 AM

I'll add to that:

Originally posted by SBR_John

No thanks.You make a lot of money buying great companies cheaply and holding them.

SBR_John · 08-09-11, 09:18 AM

Originally posted by Deep_Rest

Today seems like a broad-market short squeeze. I think we resume the downtrend throughout the week. However, there aren't any catalysts for 600-point shellackings like yesterday.

My action so far:

Short BAC @ 7.01 I honestly think they'll go BK. Nobody believes me, but I'm putting my money where my typing fingers are!

Short DIS @ 33.39 I think they'll have a bad earnings report later today.

Thinking about getting on the sugar wagon but its already up 7%...(SGG)

BAC go bk? Wow. Good luck with that one. I just bought some at 6.85. I bought BAC in like 85 or 86 for $8. It split a few times and paid a huge dividend until the recent collapse. Great buy in this range imo.

pavyracer · 08-09-11, 09:22 AM

Originally posted by SBR_John

BAC go bk? Wow. Good luck with that one. I just bought some at 6.85. I bought BAC in like 85 or 86 for $8. It split a few times and paid a huge dividend until the recent collapse. Great buy in this range imo.

I think the buying of Countrywide will doom BkofAma. If you bought more at the current levels you need to have a stop loss in place. Any bad news it would drop fast again.

Monitor-Tan · 08-09-11, 09:27 AM

I think it's only matter of time till that gets settled and BkofAma moves forward with their stocks pointing upward. They have plenty of assets to shrug it off. it's just all the bad media attention they are getting thas hitting them imo

Deep_Rest · 08-09-11, 09:46 AM

Well...my DIS stopped out at 33.70 so I guess that trade was a bust.

Good thing WM and PBR are coming through for me.

BAC has the worst customer satisfaction in the entire banking sector. The only things I hear about BAC are that they charge random fees, and they have terrible customer support. Their days as the largest bank in America are coming to a close. Their lawyers are scrambling around trying to fight over 20+ cases simultaneously...including this newest AIG case that can potentially slap them for $10 billion. They're being eaten alive by non-performing MBS's and two incompetent CEO's.

BAC and Goldman Sachs are no longer the gold standard for banking. If you look at the technicals, both BAC and GS are cheap, but people aren't lining up to buy them–they've been exposed.

SBR_John · 08-09-11, 09:52 AM

Originally posted by pavyracer

I think the buying of Countrywide will doom BkofAma. If you bought more at the current levels you need to have a stop loss in place. Any bad news it would drop fast again.

No doubt. They will write books on that 40 billion dollar mistake. 3 billion to buy them and 37 billion to settle all the suits. But that hit is priced in.

aceking · 08-09-11, 10:13 AM

GM went bankrupt , but they issued new shares and they are back !

same thing will happen to BAC , even AIG is suing them for fraud .

wantitall4moi · 08-09-11, 10:27 AM

LMAO this thread is exactly like a thread that starts....

I bet the Tigers today for my whole bankroll at +115.

Then when they win, the guys is chirping about how he is going to bet this team next...then they win. He goes on a small roll and hit 4 or 5 in a row, which happens, so he decides to go all in on one play, and then he is broke.

Then of course the naysayers are the same here as there....'dont put it all on one game', 'betting big faves isnt a good strategy', 'you cant bet that guy he has a dead arm', that team is 0-5000 in that situation'.

Seriously this stock shit is like reading the assinine sports picks people throw up. Except now the stock market is big news and people like to sound smart because they might know more about stocks than the other guy, but on a sports forum mostly everyone knows the basics of sports betting. In the end they all end up in the same spot regardless of what path they take...broke, or at least with less money than what they started with. The difference was it used to take longer to lose your money in the stock market than it did betting sports. But with all the day trader commandos that isnt the case anymore. In the end greed gets everyone regardless what form their gambling takes.