People With Money In the Market

[TORQDSS]

We should change the title of this thread to “People who used to have money in the market”

I can’t even look anymore, it’s giving me ulcers.

[Joe]

@walter

I was going to ask if anyone was trading ETFs. Which are your favorites (feel free to PM me if you want to avoid the mass of ding dongs going out buying them up and wondering why they end up losing all of their money)? It seems like with the wicked volatility, most can be bought when they are low, and even if you picked the wrong day, give it 2 or 3 and they’ll prop back up. Set your sells / trailing stops accordingly and you shouldn’t lose?

I use SKF to hedge my financials and DUG for my oil stock. I like the UltraShort ones because they return -200% of what they go against so you only have to hold half as much if you want to hedge your long positions on a bad market.

[walter]

BWLD back in the $23 range today.

I’ve been watching SKF and FXP.

[cougarspeed]

@walter

I was going to ask if anyone was trading ETFs. Which are your favorites (feel free to PM me if you want to avoid the mass of ding dongs going out buying them up and wondering why they end up losing all of their money)? It seems like with the wicked volatility, most can be bought when they are low, and even if you picked the wrong day, give it 2 or 3 and they’ll prop back up. Set your sells / trailing stops accordingly and you shouldn’t lose?

Yea It really isnt too hard in a market this volatile to know when its moving to quick in a direction and to expect a reversal.
I had wanted to cover my short ETFs yesterday but i was stuck out at work and i broke my fucking phone so i couldnt do the trade there. Now today i slept through my alarm and just woke up. Cost me $600 for an extra two hous of sleep so I only protifed $1400 off the two day fall now
The sleep was worth it.

@TORQDSS

We should change the title of this thread to “People who used to have money in the market”

I can’t even look anymore, it’s giving me ulcers.

Cant complain here ive made more in the last 30 days then ive made in my life. More then double actually.

[cougarspeed]

Also I covered my shorts even though we are at what could be the high of the day and I do believe the indexes will fall another 5-10% in the next few weeks. I have just tried to become more strict in taking gains is all.

[Joe]

I just went short on MS at 16.30 because I didn’t see why it was up 6% when Goldman posted their earnings and they were shitty. Dropping a bit now.

[cougarspeed]

Im almost all cash right now since I really dont trust the rally and im not going to go huge on shorts with indexes this low.

[Joe]

I just sold my SKF and shorted UYG. Somehow UYG and SKF were both in the green ???
Made 22% on SKF in a couple days…

[cougarspeed]

@walter

I was going to ask if anyone was trading ETFs. Which are your favorites (feel free to PM me if you want to avoid the mass of ding dongs going out buying them up and wondering why they end up losing all of their money)? It seems like with the wicked volatility, most can be bought when they are low, and even if you picked the wrong day, give it 2 or 3 and they’ll prop back up. Set your sells / trailing stops accordingly and you shouldn’t lose?

I had meant to give a better response then I did earlier but I was running late. Anyhow follow this link and These are mostly all great tools depending on which index or sector you want to follow.
http://www.proshares.com/funds
Then basically watch volume, charts, and market news and make your plays. I always use the ones that return 2x. One thing that I do is I lock in gains. This is a tough one to FORCE yourself to do and I still have problems with it but you need to make points where you will cut a loss or take a gain. I would say try to have yourself hedged at all times(I usually take 20-30% in the opposite direction. But the thing is i wont invest just for the hell of it I never have a problem walking away from the market for a few weeks if I dont have a good read. This was my best asset this year.

AGAIN- This style of trading is NOT something I would suggest for someone who is new to investing. If you want to practice this style of trading open a fake account or do it with a small amount at first.

[ubengineering]

i know this has nothing to do with what was being spoken about before, but does anyone really think GM can FULLY go bankrupt? i know they have no more (close to) operating cash and are seeking help, and if they go bankrupt, they will be forced to discount at huge amounts probably then brining down chrysler and ford by making them do the same, but theyre stock is only 4.3X and WB did invest 5 billion in GM, it just seems so cheap that it might just be worth gambling a 1000$ into, thoughts? even ford possibly?

[Penfold]

well, remember that GM’s net worth right now is estimated at -$60 billion.

I think its almost a guarantee that they will be bailed out by the fed.
They have already stated that that is the only way they will survive.

[ubengineering]

@Penfold

well, remember that GM’s net worth right now is estimated at -$60 billion.

I think its almost a guarantee that they will be bailed out by the fed.
They have already stated that that is the only way they will survive.

thats what i was thinking, and i highly doubt that the fed gov’t will just let them die, they were talking about using some of the money that was going to be directed toward the banking crisis, ugh

[Joe]

Ugh I really want to put more money in and dump it into BWLD and GS long term. BWLD keeps racking up 5 star analyst ratings/strong buys, yet keeps going down ???

And I’m going to play the dead cat bounce on CC once they let it start trading again. It got halted at 11 cents.

[ubengineering]

GM dropped 1.60!!! in like 2 hours WTF to do

[walter]

How long is it on hold, until tomorrow?

[Joe]

Not sure. Was looking into that myself

[ubengineering]

idk didnt check, but i decided not to buy, if i do ill get screwed after the gov’t bailout, and the stock is predicted to hit close to or possibly under a dollar in 2 weeks (heresay from anylsts)

circuit city took a shit, looking into either wal mart/ best buy

[Fry]

So cctyq is at $1.02. A far cry from 2 cents. Joe do you still think this will bounce? Have you gotten out of bed yet? How’s your bowling arm?

[Geehee]

dude, CC

[Fry]

Not any more.