Originally posted by Fishhead
Down over $13,000 on paper now..........
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Down to 52.30
Down over $13,000 on paper now..........Comment -
Fish keep us updated, I never thought I would see the day you were going to go broke and live right on a forum!! Wow!!!!
This is unrealComment -
Originally posted by jjgold
This is the absolute worst financial move I've ever presented in the history of my forum existance.
I'm not going to
..............yet.
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i will tell you what to look for, as a sign of a near term bottom.
watch for a KEY REVERSAL in the SP 500 market..
this is a contract low, followed by a close over the previous days high..
when you see this happen, we will have a near term bottom in..
we already have fresh contract lows today of about 837.00 in the SP futures market. but yesterdays high was 1010.00, so dont expect the key reversal today but you should be watching for it.
also about your beans........ fully expect and look for NOV beans to trade down to at least 817.75, this is a 50% retrace from their contract highs.... sorry the news is not better here.
Mr. ProgressionComment -
Beans will be down at least 50 cents by the close today..........possibly down the limit.
If they are down less than 30 cents at the close, will be creaming my jeans.
Possibly the worst financial week of my lifetime......or approaching it.
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there MUST BE A BEAR BOUNCE, nothing ever goes straight down, never. fish hang in there. dont bail.Comment -
beans are going to open 46 cents lower, as thats where the Project A session closed this morning. the overnight low was around 926.00
we then have the contract lows of 919.00
i spoke with my broker this morning about NOV beans and his comments were, the fundamentals are bullish but there simply no buyers.. the funds are being forced out of their Long positions... some of it is to meet the margin calls that they are incurring.. the other is the wide selloff of everything.Comment -
Originally posted by wtf
If I were not fully margined at this point and had cash, I would be buying JNJ at levels under 54.00.............Comment -
i entered the hong kong market today sensing we are close to a bottom, some very good companies at amazing prices, good earnings. if goes lower, i will buy more also and hold.Comment -
huge rally of almost 600pts in the sp futures now...
in a grinding bear market (which we are in), there will be some wild upward swings.
keep an eye on the rallies, they have been selling into all of them..
will this one be different?Comment -
JNJ is currently 4.00 above its low of the day.........that's a +$6,800 swing on paper for me.
Wish I would have been a day and half later into this trade..........that would have been sweet.
Oh well........
THIS IS INSANEComment -
come on, this is a huge rush!!!Comment -
good for you Fish.
JNJ may underperform in a rally however, more selling of conservative stocks (like JNJ) in order to buy more aggressively the beaten down ones.
dont be offended but did you come up with this trade and the bean trade on your own, or were you advised?
Mr. ProgressionComment -
Been watching closely since yesterday morning. That shit can't be good for your health.
I love sportsbetting.
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Originally posted by Mr. Progression
Totally agree..............
I probably should sell heading to this BUSH SPEECH, as I'm sure the DOW will be down over 400 pts again at some point in this trading day.
Put it this way, I feel there is about a 10-1 chance of the market going down 400 pts rather than going up 400 pts at current levels.
In fact, were back down 200 pts just in the time it has taken to type this post.
STUPID AND FEELING AS DUMB AS EVER IN MY LIFE.Comment -
watch these events unfold, will not happen again in our lifetimes. i hope.Comment -
Here is something I do not like.........
JNJ reports earnings next Tuesday........so even a rally in the DOW, and JNJ's price could fall on their earnings...........either before or after.
Not feeling confortable at this time............I will be honest.Comment -
this is unprecidented action and ive seen alot of it.
they are simply selling every rally (for now)..
my broker is really confident of seeing -- dow 7100.
the fibaconni (spelling) numbers indicate this.
Fish, you know that you cant catch a falling knife.
your in worse shape on the beans than the JNJ... how many contracts of NOV beans do you have?
Mr. ProgressionComment -
Fish, at the moment "earnings" are thrown out the window, they matter little.
i honestly think we have to go to about 7100 in the dow but were nearing a turn and here is why.
the public, over the last 2 weeks are starting to sell off their mutual funds and other stocks... they are almost always last to the party, so this should be a good sign..
but it matters little, as the upside is severly limited for a few years (my opinion)
Mr. ProgressionComment -
Originally posted by Mr. Progression
Only a couple..........
To tell ya the truth, I'm actually sweating grain prices for other reasons than my contracts, that being my investments in farming related activites.Comment -
your broker? oh really? so he is short from 12k ? sounds like a monday morning quarterback like the rest of them.Comment -
im glad you only have 2 but thats bad enough...
ive thought about this for you but its hard to work with a losing trade. most times you act wrong and make it worse.
if it rallies you can sell a couple of calls and recapture some of your money, as they go off the board a few weeks before your futures positions do...Comment -
wtf, no not by any means....... the 7100 is a 50% retracement off the highs... the 38%, 50% are used as fibaconni numbers. thats why he quoted 7100.
38% did not even slow this thing down. 7100 is merely the next target to the downside.
Mr. ProgressionComment -
i think the market ends up on a plus note today, people are going to see the planet is not ending.Comment -
OK, ..............SOLD at 58.13!
Lost a modest "$2,613"..........after commissions and margin interest.
Feel pretty damn good about this considering I was staring at a $13,000+ loss less than an hour ago................
WOW!!!Comment -
Originally posted by Fishhead
Hard to beieve JNJ actually was trading UP on the trading day when I unloaded the stock.
Even if JNJ should happen to go above $60 today or next week........I have no regrets.
Hell, I feel like I made $10,000 in the past hour.
This is really insane, what action. I don't think it has really sunk in yet how much of a loss I was staring right down the barrel at.
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Nice work Fishler it could of been worse
Market is still scary todayComment -
Originally posted by jjgold
Now the question begs.......
Do I get involved in this market again at some point on this trading day.
Perhaps, stay tuned.Comment -
A good time to be playing spread options long volatility...Comment -
I will tell ya one thing...........sportsbetting and playing video poker is 10x easier and more profitable than this mess.Originally posted by MonkeyF0ckerComment -
Yeah. Far more variables involved in the markets. It's very similar in some respects though, obviously...Comment -
Down down like 360
Are we going to rally today?Comment -
Originally posted by jjgold
Over 500 now........WOWComment -
barreled inComment -
congrats on the "smaller" loss Fish
now what about those beans (down 7k) today on those and locked in a Limit Down position, heading into the weekend, that has to be a nightmare.
really good chance of another limit down opening on monday or sunday evening.
Mr. ProgressionComment
