The last few years have been great to me, as i was able to clobber the S&P500 many times in returns. But of course, you can't make a living trading the markets if you don't make great great returns. I'll try to give my readers trades that i think will make them money. However, you need to have money management skills, in order not to lose everything on a greedy or stupid trade. I may or may not already be in the trades i recommend. I may or may not trade the stocks i recommend. Due diligence is required on your part and the usual disclaimer that i am not responsible for your losses always apply. I have no affiliations with any broker/dealer and all posts are for educational purposes only. Remember to 'refresh' the home page and the "Comments" pages frequently in order to receive updated posts. Let's rock!
posted by beanie11111 | 1:54 AM
178 Comments:
PCU looks like a great short.
Remember i own FSLR as a core position and also daytrade the stock as well. So just because i say short it doesn't mean i don't have a long term position.
Right now, it looks like FSLR could see 65 this week if the markets don't get shattered.
Beanie,
What do you mean "markets don't get shattered". Do you forsee another market correction coming?
Beanie:
Is Zvue Handheld for real? What doth thou think?
Jim
z-stock i'm not short FSLR, i was considering it and would like to know the ideal stop incase i were to short it, that is if the market weakens today.
Anyone who heeded my advice to short LEND yesterday, cover on the gap down this AM dont be a pig cuz the stock may get halted..
Michael
Hey michael, IF your shorting a stock and it gets halted isnt that a good thing? Also if u short a stock and it goes bankruped, dont u make out well or do u loose ur money as well
Hey Brett,
it depends on the situation, In this case if it gets halted and/or delisted it from the NMS could be a bad thing if the shares are re-classified and added to the the pink sheets, BK and or pennies are a good thing yes but some stocks can stay halted and when they re-open the shares can become worthless and liquity dried up and you may or not be able to buy them back if there is no market or new shares on the OTCBB are issued, can be a complex situation at times, take the 3-5 bucks and always remember, yes, when you short a stock you want it to go down but not taken off the market and go to zer0!
Jim,
Zvue is for real and its chart now looks great! Thanks to whoever brought this to our attention yesterday. I'm already up 10%!
Mike
GS:
wow, those are huge numbers.
GS:
best not to buy premarket. Guidance is key.
not to confuse you but my point really, Dont be a PIG cuz PIGS get slaughtered and that can happen although rare on the downside too!
LEND:
Micheal, that was the work of a genius.
Thanks a ton.
beanie11111 said...
GS:
best not to buy premarket. Guidance is key.
Tue Mar 13, 08:26:00 AM EDT
That true Beanie. Now is the time to sell. Bot it yesterday evening.
no problem GOSU, not genius just good timing *winks*
Michael
hey michael, were u the one who told me about JST a few weeks back?
"timing" is everything, Micheal.
That too, 50% move, right before it happens. That beat Beanie too. LOL.
Beanie only gives 10% move (FSLR). LOL!!!
Tell that to Wall Street.
nope not me, but I just bt 10000 IVAN for a s/t trade should see 3 bucks real soon!
lol @ tell that to wall street
Anonymous said...
lol @ tell that to wall street
Tue Mar 13, 08:55:00 AM EDT
Welcome back buddy. Where were you yesterday? Hiding in shame over JSDA after hours comment? LOL
GIGM:
super earnings.
Gonna fly longer term.
Hey michael, what do u think about shorting CFC
dont see much more downside to shorting CFC they have limited exposure may get knocked down another buck or two...but hey ya never know whats inside the hidden black box, its on my radar for sure!
Michael
why dont u see more downside? The chart looks horraible and it is hitting new lows. What do u think is gonig to stop it from making new lows?
beanie, is this phase II of the correction? will we be taking out the previous low and see a greater fall like the 10% anticipated correction?
BIDU going back to dbl digits..
nice accumulation going on in MR. JONES.. JSDA...could be the HANS of 07' Im long and strong...good call
Beanie, do you still have CLWR that you bought at 26?
Yikes!
FSLR will be green today.
A.
to be honest Brett,
I think the big firms and brokerages that have financed them will hold it up for now like I said unless there is yet another shoe to drop...they got some big backers, but the insiders are selling like crazy, chart looks terrible but I have a gut feeling they will survive, if you do decide to short be sure to buy calls to hedge and use a buy stop limit...good luck and if I smell anything I'll post!
Michael
ONXX will be green today.
A.
Anonymous said...
In Play... LJPC @ 7.85
Mon Mar 12, 01:07:00 PM EDT
JSDA:
too cheap to ignore. I hope ya own some.
FSLR comin back with a vengence
*smiles happily* ASTI back over $5
SNDK is on the move!!
Beanie,
What is happening with GOOG ?
Is there any sence to hold or get rid of it?
Thanks
Dimitry
My NCNC up another 8% today! :)
Brand new XFML will one day put huge smiles on everybody's faces. Mark my words! :)
FSLR may be done for the immediate term
S&P really clinging on to 1400 level.
This looks like is the most important support level no bull wants to see get breached.
xfml...I like this one the more I delve into it.
plan on holding a core position in this one. my guess is many out there really don't realize the '06 #'s are not close to indicative of what '07 will bring as the company's parts were not all there until last '06.
West
I normally don't speculate in pennies from heaven but I think there is a huge upside in ZROS with a break thru internet technology, stock is thinly traded and there is no way of hedging your position so if interested play small so you cant get hurt, stock has made a big move and continues to move higher with a very tight float..does have potential to get listed on nasdaq and be something huge..again nibble a bit if you can afford to lose and tuck it away for a few..
GS a good short here?
Even after stupendous earnings, all brokers are down almost 2% or more.
I think with the market down, GS will join them there, sooner rather than later.
DSL a good short here!
Are we going to see a 100 point down day today? I'm voting yes what about you guys? (damn i wish i had shorted FSLR)
For anyone who wants it WITM.OB high risk high reward
elmyko1
This comment has been removed by the author.
I would suggest you all be careful before buying anything long term here.
The brokerages are going down heavily on very heavy volume.
I saw the same thing happening just before Feb 27 crash.
Click here to see the charts of brokers compared to S&P in late February.
I think if the insiders of these companies are selling, they know something and I would not bet against them.
With options expiration just around the corner, volatility can be really high.
Also at http://www2.barchart.com/momentum.asp, you can see the downside momentum and volume are really high.
Good luck.
Anyone here besides me been shorting GOOG over the past several days?
SWEEEEET!!!
YES!!
MACCACACA YAPEPEPIEEE!!
Anonymous said...
Gosu has said repeatedly that he will not be buying until after Mar. 16 Alok. Which means he'll be purchasing at significantly higher prices than you and I. :)
Fri Mar 09, 09:26:00 AM EST
Who's your daddy?
Keep playing the fool, Dwight.
:P
well gosu, JSDA is significantly higher, as is FSLR and some of the other stocks you are looking at :)
I have started to accumulate stocks like NMX, FSLR and some brokerages.
Your words just the other day GOSU.
You've repeatedly tried to have it both ways on this blog. You've also stated that if it wasn't for Wal-Mart you'd be bankrupt which leads me to believe which way it's actually going for you. lol-you are the biggest douche I've seen on the various boards in a long time and that's saying a lot since I don't think you are actually trying to be one.
I would love you see your decimated portfolio today moron.
HEHEHEHEHE...
Hi beanie ,
Your thoughts on ICE,BSC,GS and GIGM.
Where is the market going.
Wake up Beanie!! Markets on the move.
This comment has been removed by the author.
Decimated? I've been in cash since the last week of february. Nice try wienergargler.
Stop it guys, be productive.
EVERYTHING IS RED TODAY, even JSDA is now only 1% up, ASTI given up all its gains. Question now is are we going to go below 12080, and see a continued correction. Please place your stance here Beanie, Gosu and everyone else. Luckily I am sitting on some cash and need to decide what to do!!!
Where is beanie when most needed?
This seems like feb 27 redux
Good posts, Anon and Alok!
We always hear from Gosu only after the fact and never before!
Hey Dwight remember when you were bearish all through february and then went bullish right at the top? LOL-What a twit.
Oh Man! I love you guys!
Never a dull day here at this board.
Wake up Beanie! Give us your take on the markets and some stock picks - short or long.
Holy Cow, is FSLR going to give all its gains back because GOSU got in it and provide me with an entry point :) i'm still pissed about missing ASTI, looks like might just get it if it touches 4 in the next couple of days.
Seriously guys right now buying some QID looks like a good idea to me, the mkt looks weak and dont look like its going to reverse tomorrow unless some news comes out. this might be the continued correction that Beanie had been warning us about.
Surprisingly even Gosu was warning us before he became bullish, wonder why he stopped pointing out that we still have 68% of the stocks over 200dma!!!
As I said in my blog here at
http://www.realhedgefund.com/
MARKET IN SIDEWAYS TO DOWN ACTION TILL MARCH 16, 2007
I think market will be in sideways to down action till March 16, 2007. I will start loading up on my favorite stocks for the remainder of the year after that if:
1) The percentage of stocks above their 200 day MA is <=30.
2) The number of stocks up 100% in a month <=3
Exactly Alok. Gosu was a broken record about the number of stocks over the 200MA for weeks before the correction but the idiot didn't have the convition to hold out. I love it, going bullish at the top and he had spent all that energy tyring to present a bear case.
Alok, I wanted to get you in FSLR on friday after hours or monday morning - NOT AFTER the 10% move.
Remeber this:
Alok said...
Gosu, does FSLR look over bought to you?
Fri Mar 09, 08:40:00 PM EST
gosu said...
No Alok, it does not.
What were you doing buying FSLR after a 10% move?
This comment has been removed by the author.
lol, dwight tries to grow a pair and get on the offensive and everyone comes out of the woodwork to knock him back down. Hilarious.
Beanie, I shorted JSDA this morning for the short-term. What do you think? Too dangerous?
Thanks
I've noticed many of the posts removed by the people who wrote them were of stock picks that later turned against them. This board is so hillarious!
LOL!!!
ok, traders should start covering now.
If not, well, you know....plunk plunk
Jesus what a trainwreck. Blogger needs an ignore function.
I guess no one else is short GOOG. I think it's got more downside from here. There's also this.
Viacom Sues Google,YouTube For Alleged Copyright InfringementLast update: 3/13/2007 9:21:18 AMDOW JONES NEWSWIRES Viacom Inc. (VIA) sued Google Inc. (GOOG) and its YouTube unit for alleged intentional copyright infringement of almost 160,000 entertainment clips. Viacom, New York, said Tuesday it seeks more than $1 billion in damages and an injunction prohibiting further infringement. Google and YouTube officials weren't immediately available to comment on the complaint, which is before the U.S. District Court for the Southern District of New York. Viacom said it filed the complaint after unproductive negotiations
anon, i noticed the same thing too. look at all the comments that gosu removed of his. lololol
Gosu, I haven't bought FSLR, cant at these levels, it still looks very high to me. I might consider if it falls below 50. I didn't buy anything on Monday dude, I was hardly at my desk. Not buying anything today either, mkt looks horrible, I like my cash sitting idle right now.
DIA resting on 38% retracement. XOM looks like a BUY. (swing trade)
I think BOOM has bottomed. I wont remove this post, so if I am wrong you can mock me openly. I am going long here at the 50 day.
JC
Beanie you think we're done falling?
$BKX support at 110.5 / 111.5 111.5 is now.
Sorry i haven't been posting. I was indeed watching the market lounging in my comfy chair with eyes barely open because i hardly slept last nite. (That's the nature of a night owl.) But i did short FSLR and just coverd.
In the morning I was afraid to say it (afraid that i might be right) but now what the heck, today has the making of a 200 down day. who knows system/software failure might make it another 500 point down day.....
Hey Brandon...... I also am short GOOG. Took a nice haircut however ths A.M. when it opened lower,was holding april 450 calls now holding 450 puts. Thoughts on any further decline?.........................................SKI
I think we test the bottom today and maybe we see capitulation be prepared to cover shorts and go long...
12000 major psychological level on the DJIA..
DIA = 50% retracement. Down 205
GMXR bottommed. (vertical energy = mini XOM)
and as you can see above my short on DSL was at $64..check your time and sales buddy, I dont delete messages on here and will consistantly give you profitable trades.
Good Luck All..!
Michael
SKI I think we could very well see 440 on GOOG. Watch it closely though.
Micheal
When you said this...
Anonymous said...
DSL a good short here!
Tue Mar 13, 12:01:00 PM EDT
Buddy, you did not post your name.
As I requested yesterday, please post your name as we have some bozo anonymous here who do not give
anything to the board.
Thanks.
The only stock in my watchlist that is positive is FDRY, even JSDA has turned negative. hmmmm!!!!
The bull chivalry is showing up a bit... Will the rest show up?
Bought XOM, BULLISH CRUDE REPORT Wed. gasoline supplies expected down , airline fuel, too.
Hey z-stock, you are expert in options, what do you think about buying VIX options?
anybody else?
Anonymous said...
lol, gosu tries to grow a pair and get on the offensive and everyone comes out of the woodwork to knock him back down. Hilarious.
Anonymous said...
Gosu has said repeatedly that he will not be buying until after Mar. 16 Alok. Which means he'll be purchasing at significantly higher prices than you and I. :)
Fri Mar 09, 09:26:00 AM EST
I would have markets knock you down from the significantly lower prices you have bought the stocks last week.
LMAO....
Dow down 200 points, Mr. Significantly higher prices....
YOHOOOOOO!!!
BSC SUPPORT
172 – 18% - 19% = 139 / 141
hey guys this is pamfla's side kick i bought flsw this am at 57.80 sooooo what do i do?? should i sell or just wait?
greyhoundlas
i meant fslr i bought it at 57.80 should i sell or what i need your help
Feb 27, the markets fell about 200 at 3 pm EST due to margin calls.
When do you think will the margin calls hit today?
HiBeanie,
Will the market bounce back tommorow. Usually it should after such a large drop.
Bernake should have lowered interest rates much earlier.
Options expiration week buddy. All bets are off for a rebound on this week.
beanie please answer i bought FSLR actually i checked it right now and i paid 56.80 shoud i hold or sell
anyone please answer
greyhoundlas
VIX USE 10/14 APRIL call …. 17/18 APR put ok.
It’s so tough to beat the delta, It doesn’t even seem worth it.
VIX is way over priced, both sides.
GOOG dropping!
market way oversold. Is'nt the subprime market being overdone!!!
Normally VIX at 18 ….Apr 18 put costs about 1.65 they want $ 4.40 ,, forget that…
You’ll have to use the MAR options that cost $1.00 to $2.00
Oversold?
65% stocks still above their 200 dma.
Its oversold when this number gets to 30.
Wait till March 16 to decide if it is oversold.
Careful on SOLAR, Overseas trading tonight , might gap them down by the morning. Just a thought.
HEHEHEHE.
This is so funny watching Maria Bartiromo chiding and scolding CEO of countrywide after all the blow up.
Bought NDAQ calls well established low back on MAR 5…met…
It will be some consolation if GS closes above 200 and MSFT above 27.
Oh my goodness, I'm so sorry board, I reminded GOSU about the 200dma number, now we will hear it every 5 mins :-) (or if he is in a good mood maybe every 30 mins)
(Another $2.5mil worth today; $5 mil in the past four days. The chart of Countrywide insider-selling in the past year is almost unbelievable.)
That's ok Alok. The last time he was doing it the market's were making all time highs. It's when he stops that we should be worried. LOL!
You will Alok. This is called basic technical analysis.
Yes, and thats what I was telling everybody that markets are at an all time high and overbought because 78% of stocks were above their 200 dma.
(Is it 30 mins yet?) LOL
Someone called 36.50 on CAL
Great Call!!!!
Will consider that a great entry price for WED.
SKI...I covered my GOOG position. Could very well keep going down from here but I got in the low 450's so didn't want to be a piggy. Good luck.
Board,
DKAM: earnings and CC tomorrow. Should be good. low risk high rewards.......
ICE calls, very tempting.
I’m still waiting for $123. I may be waiting till 2012.
Any guesses on how much the Asian markets will go down.
My guesses:
HangSang down 500
Nikkei down 350
Shanghai down 200
BSE Sensex down 400
I'm shorting JSDA...sorry Beanie...I may very well get burned on this one but that gap below looks too tempting.
Beanz is sleepzzzzz..
Wake up Beanie. US stock markets don't trade in the middle of the night.
Tomorrow, I think Market is up OR mixed .
TOO many good stocks resting on 50 day. Look, Ready to lite up…
Hey Brandon..... I too dumpted those 450 puts @ 3.00. Bought them at 2.50. Looks like i'll luck out and have sold them for their high's of the day. I'ts a wash for me cause i was holding 4.50 calls and took haircut with them. But I'm happy just to break even today. ................................................SKI
ICE getting hammered. 128.37.
z-stock, you might see your 123 tomorrow.
Hey Z-stock. I still think CAL has not bottomed yet. We probably have another half a point, unless the rug is pulled out from under this market.
As for me... I put some money under the mattress today: Bought Southern Co.
gosu will you tell me your opinion about my buy of FSLR at 56.80 should i sell or hold?
Ok all you technical experts out there, GOSU, Z-Stock, Beanie, EVERYONE ELSE -- we just broke the previous low on Dow, just by 10 points but we broke it. what does this mean short term. please educate us, this is very very interesting turn of events. All the gains in the past 5 days have been wipped away in one sweep. you can call this a semi crash.
Gosu, good call on BSE i'm with you on that one bro. I want it to go below 12500 before I invest in some MF's there.
Guys - I recommended BOOM before earnings. I think Gosu or someone made some coin on the long side. I'd like to recommend it again. It bottomed today and held at the 50 day even though the market kept falling. It really is a good swing trade opportunity. The company is rocking, record earns, huge backlog, and is doubling capacity. Btuff and Smorg think it will see the high $60s this year.
Visit my blog on the company to learn more:
dynamicmaterials.blogspot.com
I'm not a pumper, I just want to see you benefit. At least take a look.
JC (I'm signed into blogger as BOOMER)
This 85% chocolate bar I bought at RITE AID,
sure has me running around.
I don’t know what’s in it, but I sure feel wide awake.
Looks like I can beat Daylight Savings Time, After all.
Yes, boomer, thanks for the last call on BOOM. You got me the quickest 1000 bucks I ever made - 10 mins.
BOOM is on my top 10 list after March 16th.
ADAM
CAL at $37.2 …today .and magically, tomorrow, CAL at $36.50.
Plus, IYT …2 bottoms tomorrow. What a great BUY signal that will be.
XLE is up tomorrow, because Crude report is Bullish.
The major houses say (JET FUEL prices going up) ,
SO, AIRLINES down. You should have bought XOM, today.
Hey Fellas...... CAL up .60 after hours.
Brandon.......... Any thoghts on GOOG tom.? Gonna wait to see how market is or you just staying away at this point?.............................................................................................................SKI
Gosu, how is your NEW shorts doing now that it has a .PK suffix... LOL! I think I need to set up my account to do shorting soon. I just changed it in January from a custodial account!
JC, thanks for the BOOM idea! I calculate good Fibonacci support around $30.
Hey Gosu..... Any thoughts on FSLR after options expiry?................SKI
Alok, regarding technical analysis on the markets, I agree totally with Bolling on Fast Money, who mentioned on CNBC that we are nearing a double bottom on S&P at 1370. If we break that we are going down hard. If we hold that, we are ok.
All I am looking for is stocks to be over sold (% of stocks above 200 dma is <=30)
and then and more importantly, we need some good news from a tech leader MSFT, GOOG or AAPL.
Even a buy back would be good. Look at what happened to Nasdaq after July 21, 2006, after MSFT announced 20 billion dollar buy back on July 20, 2006.
I would suggest, watch Bolling on FastMoney. I think he is really a very good market technician.
SKI,
FSLR is a buy longer term. It is a nice profitable company. For all the reasons read beanies post yesterday and the day before.
why is noone talking about volume today? wasn't there very low volume today.
and why is everyone talking about going long, do you guys think that we're done falling, the market does not look over sold to me, but then I might be looking at the wrong indicators. it looked oversold after the crash which is why we got the bounce but today it still had downside potential. please tell me what to look at if you do not agree with me.
Very low volume?
Click here to see todays volume compared to yesterday on NYSE volume. Its the highest in a week.
Click here to see Nasdaq volume. Again, highest in a week.
I think volume will pick up as we reach Friday's options expiration.
I am sorry I was messed up, my free version of stock charts did not show me the actual vol, the bar now is higher then the past few sessions. Thanks for correcting me Gosu.
ANYONE HERE WATCHING THE WORLD CUP CRICKET?
XHB Support @ $32.0 Needs, another 90 cents down, and I’m IN…
Alok, Yes - I am following the Cricket World Cup, just with score updates. You can log onto BBC Sports and get the latest scores.
ANYONE NOTICED 'ASTI' IS ON FIRE. BIG NEWS HAS JUST COME IN - GRAB SOME IF YOU CAN!
CMS
ALOK There are some pretty good support numbers / signals, on a few stocks, and would apply in any market condition.
I see FSLR @ 20 day, it’s a buy signal. 20 day = 48/49 That’s still 7%-8% lower, from today’s close.
AND BOOM Found support at 50 day, It’s up up and away, after that.
Alok, I am thinking of buying the 200 dollar package from dishnetwork for the cricket world cup. You the same? or are you pitching in?
For nice technical analysis,
http://www.philstockworld.com/
read todays morning take.
After hours …
AMR DOWN …LCC UP…
CAL UP 2%… LUV UP 1% …
UPS UP .5%… BNI UP 1.3% …
XOM UP 1.8% …
LEN DOWN 1.5% …GS DOWN 24 CENTS … NDAQ UP 17 CENTS…
ICE DOWN 33 CENTS
Thanks for the tips guys, keep it coming, I'll wait for an uptick to buy, I'm not good at catching bottoms. Have to work on that.
I'm not getting the cricket package, I've sorta lost interest because of all the match fixing scandals. I'll be following it on the net. CMS you can probably get better ball to ball coverage on cricinfo.com
Wow ASTI up 30%. djfsmr, whats the entry price you will look for in the morning?
ASTI
BUSINESS WIRE)--Norsk Hydro ASA (NYSE:NHY - News), today acquired 1.6 million shares of the common stock of ASTI - The shares purchased represent approximately 23.0% of the total shares.
As I might have guessed, the anon's are out and shouting their miseries at GOSU. Jeez, fellahs, leave the man alone and take some responsibility for your own actions.
I had one rough morning this morning with my GS puts, but by the end of the day "I had a smile on my face" as one of the anon's likes to say. Only wish I had not halved my "RUT-roh, Raggy!" position by three, since it kept running.
I'm still short til the market tells me different though... and I think BOOM is still shortable here, as well as BLUD, GOOG, PCU (thanks Beanz!) and GIGM (bearish engulfing, sorry Beanz).
Whoever mentioned ONXX may be right on the sole long I might try before witching hour....
z-stock, i see BOOM facing strong resistance breaking the 200dma. its attempted it what 5 times now in the past 5 days and failed everyday. RSI is below the center line, it will take some strong momentum to get this back above 31. just a thought!
Oh, and someone mentioned CAL be up after hours... Not on my screen, although I did see it reported on Yahoo! Finance... could just be a late reported trade.
I'm still short CAL, but probably not past $36....
Thats ok jakegint. I am having all the fun in the world. I know that these anons are the same moron traders that we need to make profit.
Since these losers have large losses when the market goes against them, they look someone to bark at.
I agree BLUD, GOOG and PCU are great shorts.
Thanks for reminding and validating my list.
Z-man, don't mean to be contrary, but my stockchart has BOOM's 50 day EMA at 30.43 and a close at 29.74.
What am I missing about it bouncing off it's 50 day? You mean banging it's noggin? Meanwhile, slow stoch, RSA, A/D and MACD all point to more downside. Don't know if this'll post, but:
http://stockcharts.com/h-sc/ui?s=boom&p=D&b=5&g=0&id=p49662500442
Are we looking at the same thing?
This comment has been removed by the author.
Jake, I see the 50dma at 29.73
Alok--
I think I know the diff now... I am using exponential moving averages and you guys are using simple. A math geek who got me into this stock charting thing claimed that EMA's are more indicative of true moving averages because they take into greater "weighted" account the most recent moves of a stock as it moves over time. In any case, he was very down on MA's altogether considering them weak indicators when paced against price and volume trends.
Anyone else see the price of CAL being up, btw? On RTQ systems, I mean?
I've got CAL at a bid ask of $37.16- 37.26, btw.
Jake, sorry about the confusion. I use a visual.
Stockcharts 2 month chart. I look at the thin red line….
There are just so many different 50 days out there,
I decided to stick to JUST ONE.
Gosu great site…
http://www.philstockworld.com/
I used yahoo for CAL + others after hours quotes,
Yahoo might be wrong……
I can’t log in to my online broker, for some reason.
Hey DJFSMR..... Would you not consider buying ASTI after hours or pre-mkt.?....... SKI
I think GOSU may have posted this recently, but it could've been Z-man... two very helpful commentators on this board (besides our host Beanz, of course)...
Looks like we're very close to support, so tomorrow should be interesting:
http://www.marketwatch.com/news/story/technical-indicator-us-markets-attempt/story.aspx?guid=%7B6F606928%2D0369%2D45B9%2D8FD3%2D43260B2DBD6C%7D
From that article:
To summarize again, the relevant technical levels fall out as follows:
The Dow has support at 12,050, resistance at 12,536.
The S&P 500 has support at 1,374, resistance at 1,431.
The Nasdaq has support at 2,330, resistance at 2,444.
JAKE
I show BOOM with 27% increase in EPS estimates since OCT.
It’s possible BOOM can retest 28.4 for a second time.
Do you need to see a re- test of 28.4?
You should hear my pitchiness and mooning on ICE. (re test $123, Jan low.)
Tomorrow will be in the DOW futures tonight.
http://money.cnn.com/data/premarket/
CSFB is the source of critical and timely data for this post.
It is possible that the Fed may even lower interest rates to help ease the situation in mid-summer of this year.
approximately 21% of the loan business is drying up. The drop in new home construction may thus be 35-45% nationwide.
$300B (36%) of sub-prime loans are set to adjust upward in 2007.
California, Arizona, Nevada and Florida will be painful for home builders and retailers if the statistics presented are correct
hey Gosu:
you mentioned about using Interactive Brokers. do you think it is better than etrade or ameritrade? also..can you give some briefs about their fees?
on the website it is pretty confusing..do they have any hidden fees? thanks
Interactive Brokers:
Oh yes, their fees are the best. If you are trading 200-400 stocks in most trades, you will only pay 1 or 2 dollars per trades. That beats etrade or ameritrade any day.
Also, what I love with IB is that you can trade futures, options and stocks on one screen.
As regards hidden fees, there is only one I am aware of: $10 per month if you do not produce 30 dollars per month in commissions.
The only thing I miss is the back testing or automated trading strategies. That is why I have opened a second brokerage account with TradeStation.
But I still use IB for most of my trading activity.
z-stock, not only is the new home construction drying up, my close friend who works in mortgage industry tells me that they are doing fine but the guidelines to issue loans is tightening up everyday.
IB is great. I'm a college student and got a taste of using them in their College Olympiad. If you have experience in programming you can actually design Visual Basic programs that automatically trade. Right now I have an E*Trade account, and really want to switch to IB. The commissions on options at E*Trade kill me. $20 for an exercise...boo!
z-stock, i see BOOM facing strong resistance breaking the 200dma. its attempted it what 5 times now in the past 5 days and failed everyday. RSI is below the center line, it will take some strong momentum to get this back above 31. just a thought!
actually, it only tested it once. its been pinging up off the 50 day...only one run at the 200 above.
i think the last fall into the 28s was capitulation. had the overall market not gone shitty, BOOM would be at 31 right now, on its was to 33. 76% instituional ownership with instituions that are keen to do deals. check out the roster. I think BOOM get taken out by private equity or a roll up with ATI or something.
I made a mint in BOOM in 05 and 06. I'm watching it again. Maybe Friday?
Holy cow, i just woke up and the world is in a whole world of hurt.
FSLR i still have a long position for the longer term, although i bought some puts today as a hedge. Yes, FSLR does have options even though Yahoo doesn't show it.
GOOG and CME looks like they have some more downside to go. CME looks beautiful if that 450 cracks.
As i'm typing this message i see the third post: "Beanie,
What do you mean "markets don't get shattered". Do you forsee another market correction coming?" Well, uh, i guess it is now obvious what i meant. Looks like we are on our second leg down. Hopefully, we bounce off the previous lows this week and that be the end of it. However, if the bears have their way we could see 38 or below on the QQQQ eventually, which would be brutal for the longs.
I am hearing from several sources that they think the world markets could tank 17-20% since the February highs before we are done with this correction. Most are seeing a short term correction. But a short term correction lasting 17-20% would be more like a crash-like correction. If so, the bulls could be in a world of serious hurt.
With the market so brutal today, active investors like some of you should have thought about selling out your long positions (be it JSDA which couldn't take out 20 and proceeded to selloff in an "upside-down bowl", or FSLR which gapped down and never went positive) and buy back maybe days later. Why stubbornly hold onto your "investments" when the world is going thru hell?
It is looking like we are not done going down this week. BSC and MER earnings this week will probably take us down further.
The yen carry trade is still unwinding further. Go to bloomberg.com and click on 'Currencies'. It takes you to a Benchmark Currency Rates table. Find where the USD crosses the JPY and you see 116.18. That number (116) coincided with the huge selloff we had 2 weeks ago. Watch it carefully. If 116 and then 115 breaks, orange to red lights should go on as there could be an acceleration of the unwinding of the yen carry trade.
The convergence of the prime lending debacle and the yen carry trade could be the catalyst for a 17-20% full blown correction worldwide. You have been warned.
If you like your investments, it's ok to sell them for the time being and buy them back when there is more blood on the streets. You don't have to ride it down and show how brave you are. lol
Calm down, its options expiry
Dow futures down 22.
And US stocks traded in EURope, most coming here seriously gapped down. (1%-2%)
z-stock with this weakness do you think BOOM will go lower tomorrow? what is the next support?
LEH down $1.15 in premarket
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