so i should upgrade from my pumpmaster 760 bb gun so i can take out those mf’ers??? haha
couldnt agree more with this… problem is most people dont understand the option market. I try talking about calls and puts and the majority of people have no clue what im talking about… even when i try explaining a straddle, strangle or collar its still above most peoples heads. at the moment we are mostly invested in options and some of the long term treasuries like the 20yr
I think the first order of business is to not look for financial advice on NYSpeed.
Nice on the options. The longer term bonds have been trending up in yield aka down in price. I’m not a fan of bonds at these prices/yields…but JMHO. Sounds like you have a good handle on things. Glad a few people get options and their importance in securing a profitable outcome. 
There are a select few on here I’d probably let trade my own account actually. There have been discussions here that offered VERY sound advice. 90% of people lose money in the markets…any forum or even most “financial advisors” have no clue. Pimpin ain’t ez and Americans tend to be lazy when it comes to their financial future. LOL
You’re right that financial literacy is a huge problem in America. I heard something the other day that only 37% of Americans know how to balance a checkbook and something like 32% think they have a good understanding of how credit card interest is calculated. If I went up to 100 people and at the Galleria mall and 1 of them could explain to me what a covered call was I would be surprised. That’s no big deal though, options are complex. It’s the basic personal finance stuff like what I mentioned above ^^ that really scares me.
Added:
You’re right, pimpin’ ain’t EZ!
Do you deal with investments for work or personal finance? Can I ask what you do? Just curious.
If I explained to 100 people what a covered call was and why it’s damn near a crucial strategy for investors only 1 or 2 might actually listen.
It’s just like on my Facebook rants where I talk about the economy, fiscal responsibility, nominal value etc… and I get no replies or interaction. Post a pic of a fucking puppy and you get 100 replies saying “awwwww how cute”. Americans have really big blinders on and are only comfortable talking about simple and pleasing things. That’s why we are in this mess more less…nothing changing anytime soon. 
I hear ya man, that’s just the way it is. I have to say though that I don’t post anything like that on my FB page, well for a lot of reasons, but mainly because I know I have to keep it about entertaining stuff like music, etc. or no one will read it. Quite frankly, I don’t blame them.
I also try to keep politics, the economy, and financial thoughts and ideas away from FB and even this site. But that’s mainly just for my sanity and the simple fact that I’m on both sites simply for my enjoyment, not to make my work day any longer than it already is.
You guys seem to be confusing stock trading with not-gambling. Gambling and personal finance aren’t really related.
I should take a page from your book and stop trying to help educate those that can’t/don’t want to be educated.
I don’t really care about FB or if people read my stuff if they only want to see blissful shit I guess. Those are the people there is no hope for and I’m only hoping to reach a small minority of free thinkers. 
We should start an investment discussion group or something where we meet monthly and go over market info and potential plays etc…
Any takers?
lol all I can picture is a dark room with one lamp hanging over a card table and a lot of cigar smoke, which sounds fantastic.
Stock trading by itself is a form of gambling for sure. The more you can sway the odds in your favor (charting and option insurance) the less you are gambling.
I’m sure you posted short and that’s why I don’t fully understand…cause we’re almost always on the same page.
Definitely. I’m just saying that day-to-day stock trading is just fundamentally gambling. It’s a game with a set of rules that people choose to play with their own money. Those better at the game take money from those worse at the game, with a little bit of luck. So equating puts and takes and all that other day-to-day stock trading stuff that I don’t know isn’t really related in my eyes to responsibly managing personal finances.
The problem though is that thanks to fiat money and the last 10 years being the most fucked up in the history of our economy, you can’t just sit on cash savings or the government will take it all back via inflation. So I guess your money’s not safe anywhere. One would think property would be a way to keep the fruit of your labor but 2008 shot that one to hell. Oh well, property with an eye of caution towards bubbles. Maybe precious metals? Guns? Coke and hookers? Can’t really stockpile hookers though. I guess that just leaves cocain.
Guns are the ultimate black swan hedge. If shit really hits the fan, you’ll be the best off! Throw in some whiskey too for good measure.
I work for a small financial planning company while i am home from school… i do some part time work for them while i am gone but not as much hands on stuff… we invest for both clients and personal finance. We also do some investing with just a few 401k plans that is where my focus is. Once i finish school ill will start studying to become a CFP(certified financial planner) myself. Two of the guys i work with just passed their CFP exams and they were by far the youngest there at ages 26 and 27. So ill have a little jump start on them.
Nice Jimshorts. Glad some of you young fellas are getting in on this stuff. Wish I had got in much earlier.
Fadetoblack…believe me…guns/ammo are one of my most solid investments IMO. SHTF I’m covered. They make guns harder to get…I profit as I can sell face to face. Hard to lose, especially considering I stalk prices and just swoop in with cash.
Fry…what ya mean “puts & takes”? You talking options? I use monthlies to tap into the time value of my long term holdings and work my cost basis down. I don’t really condone or approve of the weekly options as they decay super fast if you’re a buyer. I am an option seller as I like collecting premiums and hoarding OPM (other peoples money).
One thing is for sure…the BROKER always wins. And small traders/investors post fees are at a HUGE disadvantage.
Yup once you figure out options they are a great way to make a killing on other people lol… But thats another problem with most investors today, they are very short term minded. “I want to see my money go up today” what you should do is be more macro minded more long term minded perhaps think 6 months to a year out may end up saving ur ass
Oh man, I havent clicked on here since I can’t see NY Off Topic at work any more, only the network forums, but it’s good to see an intelligent discussion going on again. I finally got out of my dog of a UNG trade when it crossed above 12 in April, made some money shorting oil when it ran up (UCO puts, damned expensive but paid out HUGE when it dumped 20 bucks in a couple days) and have been cash ever since looking for entries on a few things. Thinking about shorting matched pairs of leveraged ETF’s for the long term as an arbitrage play since over time, they all go to 0.
Nice. UNG was such a dog…can’t believe it dragged out that long on ya.
Any of you guys interested in a investors group/get together type thing? It’s so hard to find individuals that care to discuss the markets and economy at any length. There is a Buffalo investors meet up but I’ve never gone because it’s sponsored and is probably some half assed broker pitching his services.
CSCO may get interesting on me…you guys hear the news of a possible 10k layoffs. That’s more than half the job creation on the last jobs report. LUL
It’s not popping enough for me to get my next covered calls in. SIGH.
I should have a new blog post tonight with a chart on the DOW. It’s at a potential weekly buy point for leg 1 and the ascending trendline would be entry for leg 2. A close (or breakdown with no bounce) below the weekly ascending trendline is the stop. JMHO of course.
I’m somewhat interested.
Diff note…
Well aware of the typical craze that comes with chinese IPOs, or any internet company…but does anyone have any thoughts on Renren? Did that time pass? Is it still a good pickup, i have been jumping on things too early buy at 9.37, sounds pretty solid they’ve got 125ish million active users and get a boat load of advertiser revenue