stock market thread

[Yoda 1]

Yea I couldn't resist...shorted me some goldman at 80.49. If we somehow keep going up I think I am more likely to build the position higher than stop myself out quick. Unless monday looks like it is turning into a wild 300+ up move. Then i'll side step and re-visit later.

[Yoda 1]

Hmmmmm all these good days in a row...i'm tempted to short Goldman at 80 again. When is this rally gonna fade? Soon I think.

Yea I couldn't resist...shorted me some goldman at 80.49. If we somehow keep going up I think I am more likely to build the position higher than stop myself out quick. Unless monday looks like it is turning into a wild 300+ up move. Then i'll side step and re-visit later.

lllllllookin gooood.

[Yoda 1]

Nice gap down on Goldman off the open on wall st journal article - covered the short. Nice quick/easy 20%. Market is bouncing nicely after yesterdays crash so I figured i'd get out of the way and see what happens. I'm sure we'll finish +/- 2-300 pts from where we are now, just not sure which direction

[Yoda 1]

Question, if anyone knows - I read an article saying many bulk shippers have lost so much value that they are considering going private. What happens to the share price if they suddenly announce this? It isn't like bankruptcy which pretty much wipes it out, is it? Do the shares just get sold off/redeemed at whatever the price is at when it is announced? Do they have to buy all the shares back at a premium or on the open market? I ask this because i've been trading Dryships (DRYS) ((check out the move today)) - but I don't want to be the jerk holding the shares overnight if they could suddenly go to 0 in the morning.

[El Guapo 8]

Question, if anyone knows - I read an article saying many bulk shippers have lost so much value that they are considering going private. What happens to the share price if they suddenly announce this? It isn't like bankruptcy which pretty much wipes it out, is it? Do the shares just get sold off/redeemed at whatever the price is at when it is announced? Do they have to buy all the shares back at a premium or on the open market? I ask this because i've been trading Dryships (DRYS) ((check out the move today)) - but I don't want to be the jerk holding the shares overnight if they could suddenly go to 0 in the morning.

Not an easy answer. It depends. Shares could go to zero, or they purchase them back and put them in the treasury, or they could just de-list the stock and be an OTCB stock. The 3rd is the most likely. There are a lot of accounting requirements and cost to be a publicly listed company, especially on the NYSE, the NASDAQ isn't as strict.

[Yoda 1]

Not an easy answer. It depends. Shares could go to zero, or they purchase them back and put them in the treasury, or they could just de-list the stock and be an OTCB stock. The 3rd is the most likely. There are a lot of accounting requirements and cost to be a publicly listed company, especially on the NYSE, the NASDAQ isn't as strict.

Typically is it bad/dilutive? Or is it more like somewhere in the area of 50/50 chance of going to 0? At best are you hoping to get back the current value?

[El Guapo 8]

Typically is it bad/dilutive? Or is it more like somewhere in the area of 50/50 chance of going to 0? At best are you hoping to get back the current value?

Typically it is bad (but can be good for majority stockholders as they keep control and don't have to bow to wall st). Usually the opposite of dilutive. Company to company on whether it goes to zero or not. Privately held stock become very hard to properly value and becomes very illiquid.If you are that concerned, dump it.

[Yoda 1]

Typically it is bad (but can be good for majority stockholders as they keep control and don't have to bow to wall st). Usually the opposite of dilutive. Company to company on whether it goes to zero or not. Privately held stock become very hard to properly value and becomes very illiquid.If you are that concerned, dump it.

I'm not terribly concerned in this case - but always good to know all the possible scenarios.

[Yoda 1]

I can't imagine how anybody could have made it out of this alive without using inverse ETF's. Thank goodness for SDS and SKF...I'm down 1% today overall right now instead of like 4% thanks to those.

[Yoda 1]

I ask this because i've been trading Dryships (DRYS) ((check out the move today)) - but I don't want to be the jerk holding the shares overnight if they could suddenly go to 0 in the morning.

Typically it is bad (but can be good for majority stockholders as they keep control and don't have to bow to wall st). Usually the opposite of dilutive. Company to company on whether it goes to zero or not. Privately held stock become very hard to properly value and becomes very illiquid.If you are that concerned, dump it.

Feelin pretty good today! What a sick move. Now I will dump some! Real-time: 6.97 2.22 (46.74%) 10:49am ET

[grocery_mony 8]

I have heard from 2 sources(1 no info on crediblity and the 2nd ROB tv in Canada which is reputable) that gold is being artificially kept down to prevent the collapse of more banks and a insurance giant that have huge short positions in gold. Kind of intresting after the spot price of gold last week went bellow the futures price for the first time in history. The US mint is noo longer issuing golden eagles because they are sold out and people are paying 20-40% premium on physical gold.

[Yoda 1]

Can hardly believe this - Dryships is up ANOTHER 50% today. I sold 100 shares yest but still own several hundred. Sick.

[Yoda 1]

<Brag> sold 75% of my DRYS as of yesterday, held onto some because I was freerolling and if it kept going up I still wanted to hold on. But today is a beautiful correction (so I can start to buy more back at 8 or lower).Yesterday I bought more SRS at 79, making it my largest position. Check out that bad boy today. </Brag>I think we still trade down at least a couple hundred points more before taking a break. This Auto bailout isn't happening right now and we've been going up too many days in a row. Holding onto my ultrashorts..

[nutzbuster 7]

<Brag> sold 75% of my DRYS as of yesterday, held onto some because I was freerolling and if it kept going up I still wanted to hold on. But today is a beautiful correction (so I can start to buy more back at 8 or lower).Yesterday I bought more SRS at 79, making it my largest position. Check out that bad boy today. </Brag>I think we still trade down at least a couple hundred points more before taking a break. This Auto bailout isn't happening right now and we've been going up too many days in a row. Holding onto my ultrashorts..

wow

[RhinestoneCowboy 2]

<reality>If there is one thing I will agree with WrongWay on, it is that Yoda only mentions his trades that are winners. If you only made the trades you talk about making and then brag about the next day, you would be a bajillionaire...</reality>

[Yoda 1]

<reality>If there is one thing I will agree with WrongWay on, it is that Yoda only mentions his trades that are winners. If you only made the trades you talk about making and then brag about the next day, you would be a bajillionaire...</reality>

I've very clearly said when I made price mistakes on entry or exit. But it's true I don't have motivation to be like, hey remember when I said XYZ would go up? Well I bought 50 shares and...it didn't. It went down. So I sold it. Even Dryships was looking like it could be a mistake until it blew up. I bought 100, it went down, I bought 100 more, it went down big, then I bought 200 and it bottomed. And now it's gone apeshit. Did I time it great? No. Did it end well? Very very well.Happened the same way with SRS. Bought some at 90, more at 82, more at 78. Now it's close to 100. I wait for big moves, take the contrarian view, and average in. That's what is working during this volatility.But my missteps are well documented in this thread...You will also notice that in the last few weeks i've posted several opinions and actions AS I WAS DOING THEM, not after the fact. It just so happens i've been almost completely right the last couple weeks ::knock on wood::I'm also one of the only people that posts his trades and specific stock or sector opinions on here frequently, for better or for worse, so you have a nice warm glass of shut the hell up as far as that goes :)And I can assure you i've made the trades i've talked about - what good is an opinion if you don't believe it and execute it. I promise to post my next bad trade here.

[Yoda 1]

Nothing Rhinestone? That's what I thought. Go back to reading. And next time grow a pair and give your own opinions instead of worrying about mine.I guess I don't need to point out what SRS is doing today Now I just have to decide if I want to cover and switch to buying longs.

[Yoda 1]

Practically laughing out loud the market is rallying off the lows @ the open. It could be a head fake before diving lower later in the day. I sold half my SRS since the profits are already sweet. Have to take profits when you have them in this market. If we get an auto bailout and rally I might "ride the up" but would probably quickly switch to shorts/inverses again. I don't see the rest of December being very good, tax selling and final hedge fund liquidations etc. should continue to hold everything down. Comfortably sitting on my hands and waiting for a defined direction...

[Yoda 1]

Sold out of the rest of the SRS...market wants to rally, who am I to argue. Have a long Bias now...dont know what will happen with this crazy bailout. If we do get a huge rally of it. "Buy the rumor, sell the news" will be in full effect.

[Yoda 1]

On an unrelated to trading note - who is excited to remortgage their house? 5.5% is lookin pretty attractive and lower seems likely going forward. I'm at 6.5% but pretty early in the mortgage so 1% or more will make a pretty big difference.

[dms26 3]

On an unrelated to trading note - who is excited to remortgage their house? 5.5% is lookin pretty attractive and lower seems likely going forward. I'm at 6.5% but pretty early in the mortgage so 1% or more will make a pretty big difference.

I'd be more excited if I knew how long I wanted to stay in my current place. How much do refinances cost? My current mortgage is 5.75% so I'd have to see how much I'd save.

[Yoda 1]

I'd be more excited if I knew how long I wanted to stay in my current place. How much do refinances cost? My current mortgage is 5.75% so I'd have to see how much I'd save.

Yea it's tough if you might be selling in a few years. Every morty company is different - I know I get specials from Wells Fargo all the time with super cheap refinancing, haven't looked into it but I will soon. If I am getting a full 1% or more I am pretty sure it'll be worth it even if I sell in 3-5 years. But there are plenty of online calculators to make sure...See I don't know if this is legit or what the fine print is - but when I login to my account there is a link "Refinance with no closing costs! Apply Now"If it only costs the price of a notary and shipping some documents that be solid. Even throwing in a 1% origination fee wouldn't be a huge deal if my payment is going down $100. Or you could even switch to a 15 yr at an even lower rate, probably stay at the same payment, but save sick amounts of money in interest.

[Yoda 1]

Being long was good but I think now is time to consider taking some profits again if you have them. The fed stuff is often a buy the rumor sell the news...I think this rally will fade, if not today before the close, tomorrow. I could see a little more upside if people realllly thing all this fed stuff is going to magically bail us out...but cooler heads will probably prevail. Plus I still expect there has to be a lot of tax loss selling on the horizon.Buying some SRS right here at 75ish, will buy more if we keep rallying and it goes under 70. Also considering some inverse energy.Edit: That was easy, came right to 70 for me! Was in a little before that 40 shares at $71.20, now i'll sit and wait.----And I think this fed announcement will bring morty rates down further (w00t!)

[WrongWay 0]

Wow... just wow. .75% cut to .25% with a statement the Fed will use ALL available tools.... They are freakin' scared! Soon they'll be just as scared as I was 2 freakin' years ago.I fell in to a burning ring of fireI went down,down,downand the flames went higher.And it burns,burns,burnsthe ring of firethe ring of fire.I'm glad I'm still sitting in treasuries.... though the plan in my 401(k) has switched from 100% treasuries to a mix of treasuires and other government (GSE paper) insured. I'd rather just be treasuries as I still don't trust the implicet guarantee.This economic collapse, and how Bernanke is handeling it, reminds of of a time abotu 10 years ago I went shooting sproting clay's with my dad. One of the stations, the target came out real low... didn't rise like most other stations, and I kept shooting over as my mind kept expecting it to rise. So, I say out loud, to myself and those we were shooting with... I keep going over. I have to force myslef to stay low... All agreed I was anticipating a rising clay, and needed to correct lower.Next pull... yep, I went under.Bernanke has spent his life studying the Great Depression and is the world's expert on what teh government did wrong that made it worse. He knows what NOT to do. However, knowing what not to do, is no assurance you know what to do. You may have yourself convinced you know what to do, but that does not mean your solution will be any more effective than the previous failed plan of action.The problem was a falling money supply, so we'll just keep pumping money into banks. Okay, but you can't make them lend nor can you make the people they lend to more able to pay back the loans. Cash handouts.. okay, but you can't make people spend the money instead of using it to pay down debts or just stick it into Treasuries. Mass government spending... okay, but there is no way to ensure the government spending creates jobs faster than the private secotr loses them.This is not a recession. It is a debt collapse. Wages have not kept up with inflation, and we maintained our standard of living by borrowing the difference. Now the debt is collapsing. The debt has been cut off, so the economy is imploding. Every sector of the economy that has been keeping us afloat (consumer debt, consturcion, finaicial services) is imploding and there is nothing on the horizon to replace any of them, and certainly not all of them.There is no light at the end of this tunnel... at least, not one that is yet in view.

[Quacktastic 106]

Nothing Rhinestone? That's what I thought. Go back to reading. And next time grow a pair and give your own opinions instead of worrying about mine.I guess I don't need to point out what SRS is doing today Now I just have to decide if I want to cover and switch to buying longs.

I apologize for not keeping up on every single post in this thread as soon as it's made. Keep going though, intelligence is directly related to the amount that you type.SRS - $69.04