sailorPremium
join:2003-10-21
Long Island
kudos:6 | reply to DKS
Re: Stock Market Crashing...down 330 points right now said by DKS:The market hates uncertainty. That's very true. |
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sailorPremium
join:2003-10-21
Long Island
kudos:6 | reply to Dark Shoes
said by Dark Shoes:said by sailor:said by removed:AAPL and VLO kicked my ass today. These last 10 days have been hell on my portfolio... As an investor, you have to take the bad ( corrections and pullbacks) along with the good..( market rallies). As a trader, you sell and then buy back and then sell again and then buy back again and on and on.. A couple of comments on Apple and Valero. Apple has had quite the run-up this year to the $150 level so you have to expect some sort of pullback eventually. As for Valero, they're a major refiner, and the "crack spread" (profit margin) between crude oil and gasoline has been tumbling for awhile. People like Eric Bolling of Fast Money (CNBC) have been warning about Valero for a couple of weeks now, exactly because of that. He had been very bullish and constantly recommending Valero for quite awhile too. Recently recommending moving to the integrated oil companies if you still like energy. And he was right on the money concerning that trade. Yeah, Apple could very well correct say even down to the high 90's but if this market didn't start breaking down when it did, Apple would have zoomed into the 160's or more after releasing their record earnings....Any pullback for Apple, I view as another buying opportunity due to they are making money...they are delivering earnings and they sure don't need the I-Phone to be a massive success in order to do so. Saw this morning that they received an upgrade.
As for Valero, that is one I don't follow that much...And I don't watch TV and especially so keep away from what the talking heads on CNBC are saying....even never have watched a show of that nut case Cramer...While in my daily financial stuff I do during the day online, I might see something he said or is saying but I pay no attention to him or actually anyone...From some of the things other traders have told me, you could probably make a good living taking the other side of whatever comes out of his mouth.  |
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sailorPremium
join:2003-10-21
Long Island
kudos:6
4 edits | reply to RWoods
said by RWoods:Nice to see the market rebound a bit, but I still have a bad feeling about where the market is headed. So much so that when I recouped about 60% of what I had lost on Thursday and Friday, I dumped a lot of stock and moved some the $$$ to my money market, tax free bonds, and less volatile stock like P&G. I'm a trader and own very few stocks for the long term. But since many here do I will make mention of one of those stocks...
And that is Eaton Corporation...Stock Symbol ETN
There is nothing wrong with getting rich slowly and Eaton is one of those stocks that are not publicly discussed much but it is a wonderful company with great earnings and that is the key...
Think Eaton Positraction
I made mention of it back in March in the Automotive forum...I regret not listing the price of it at the time as the link I posted back then will now give you the current price so the price of the stock on the day I had posted that is now updated. But when I had posted that it was probably around high 70's to 80 or even low 80's.
Currently it is around 98 and hit a new high of 104 recently...Another great company that I will be adding to my position on any meaningful pullback.
But here is the post »Re: [Tech] What Automaker has the smoothest clutch? your top 3
and when you click on the link just take a look at the 2 year chart and even the 5 year chart....steady, steady uptrend...
Even when this current market was selling off, Eaton was up some...Very impressive..
I don't mention individual stocks much at all but I felt this one is worth mentioning. |
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| reply to sailor
Valero | 
Valero |
DJIA not so bad. Basically going sideways for today.
said by sailor:As for Valero, that is one I don't follow that much...And I don't watch TV and especially so keep away from what the talking heads on CNBC are saying....even never have watched a show of that nut case Cramer...While in my daily financial stuff I do during the day online, I might see something he said or is saying but I pay no attention to him or actually anyone...From some of the things other traders have told me, you could probably make a good living taking the other side of whatever comes out of his mouth. I totally agree with you. I never listen to the talking heads in terms of what to buy or sell. Especially analysts, reporters and so on who have zero money on the line. I don't particularly care that much for Cramer either.
Guys like Eric Bolling, even Pete Najarian, are a little different though. They're working right now, as we speak. Either in the actual pit at NYMEX, on the phone or at the keyboard. When someone like Eric Bolling says to get out of Valero he knows what he's talking about. So you sort of have to put that in the back of your mind and ask yourself "Why is Eric saying to get out of Valero?".
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You have to wear the foil shiny side out or it doesn't work. - Hanrahan |
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| reply to sailor
Eaton Corporation (ETN) |
said by sailor:I'm a trader and own very few stocks for the long term. But since many here do I will make mention of one of those stocks... And that is Eaton Corporation...Stock Symbol ETNThere is nothing wrong with getting rich slowly and Eaton is one of those stocks that are not publicly discussed much but it is a wonderful company with great earnings and that is the key... Think Eaton Positraction I made mention of it back in March in the Automotive forum...I regret not listing the price of it at the time as the link I posted back then will now give you the current price so the price of the stock on the day I had posted that is now updated. But when I had posted that it was probably around high 70's to 80 or even low 80's. You posted Sunday night, it had closed at $79.73 on the Friday. Since then, yes indeed, a nice little run up. Currently $97.42.
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You have to wear the foil shiny side out or it doesn't work. - Hanrahan |
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sailorPremium
join:2003-10-21
Long Island
kudos:6 | reply to Rick
Hell of a powerful comeback late in the day by the Bulls..Back and forth all day and around 3:30pm I sensed something positive was about to happen so I closed out the PUTS I had on YHOO for a very nice profit and sure enough, as soon as I did the market started to rally and took Yahoo along with it...
Apple was smokin to the upside in the closing moments of trading..
The bulls are back..
at least for now.. |
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sailorPremium
join:2003-10-21
Long Island
kudos:6
1 edit | reply to Dark Shoes
said by Dark Shoes:said by sailor:I'm a trader and own very few stocks for the long term. But since many here do I will make mention of one of those stocks... And that is Eaton Corporation...Stock Symbol ETNThere is nothing wrong with getting rich slowly and Eaton is one of those stocks that are not publicly discussed much but it is a wonderful company with great earnings and that is the key... Think Eaton Positraction I made mention of it back in March in the Automotive forum...I regret not listing the price of it at the time as the link I posted back then will now give you the current price so the price of the stock on the day I had posted that is now updated. But when I had posted that it was probably around high 70's to 80 or even low 80's. You posted Sunday night, it had closed at $79.73 on the Friday. Since then, yes indeed, a nice little run up. Currently $97.42. Hey thanks for checking on the price for that day. And for those charts...Where are you pulling those charts up from? |
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sailorPremium
join:2003-10-21
Long Island
kudos:6 | reply to Rick
The bears were clearly in control but then they got a little bit to aggressive ( see pic ) and the bulls came roaring back at the close today and chased the bears back into the woods. |
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sailorPremium
join:2003-10-21
Long Island
kudos:6 | reply to Dark Shoes
said by Dark Shoes: When someone like Eric Bolling says to get out of Valero he knows what he's talking about. So you sort of have to put that in the back of your mind and ask yourself "Why is Eric saying to get out of Valero?". Cause he just shorted it.  |
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 RickPremium,MVM
join:2001-02-06
Waterbury, CT | reply to Rick
Wow. Looks like the last 30 minutes before the market closed was a sight to behold. I looked briefly at CNBC at about 3:00, saw the S&P down another 1% or so and figured, ah well, here we go again.
Just looked again and said..WTF? !!!
Wouldn't have wanted to be short when that bull stampede came a callin!
What's it all mean to me? Not much. While I'll play a few stocks here and there, it's strictly long term mutual funds for me...averaging into them for years.
I really don't know of a long term strategy better than that.
I am happy however with my shift more into a heavier weighting into bonds a few weeks ago. It's been riding out the storm much better lately.
Anyways..have fun.
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The Coyote captured the RR! Roadrunner Rick is now Comcastic! |
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2 edits | reply to sailor
AxisPro |
said by sailor:Hey thanks for checking on the price for that day. And for those charts...Where are you pulling those charts up from? Glad to help. Concerning the charts, some people have already asked me that through messages so I'll just copy/paste it here:
It's called AxisPro from Nexa technologies. Click the following link for more info and a Flash demo: » www.nexatech.com/eng/products/ax···dex.htmlI have a direct access trading account with a broker up here in Canada called TradeFreedom. They rebrand the software as TradeFreedomEdge v.3.3r75: » www.tradefreedom.com/en/tradingp···espg.aspNice little piece of software for real-time quotes, placement of orders, basic charts, etc. There is much more expensive and sophisticated software out there but if you have a TradeFreedom account it doesn't cost anything. Hope this helps. said by sailor:said by Dark Shoes: When someone like Eric Bolling says to get out of Valero he knows what he's talking about. So you sort of have to put that in the back of your mind and ask yourself "Why is Eric saying to get out of Valero?". Cause he just shorted it. Probably, lol.
edit: added screenshot
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You have to wear the foil shiny side out or it doesn't work. - Hanrahan |
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sailorPremium
join:2003-10-21
Long Island
kudos:6 | Nice charts.
Thanks for posting it. |
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sailorPremium
join:2003-10-21
Long Island
kudos:6 | reply to Rick
said by Rick:Wow. Looks like the last 30 minutes before the market closed was a sight to behold. I looked briefly at CNBC at about 3:00, saw the S&P down another 1% or so and figured, ah well, here we go again. Just looked again and said..WTF? !!! Wouldn't have wanted to be short when that bull stampede came a callin! What's it all mean to me? Not much. While I'll play a few stocks here and there, it's strictly long term mutual funds for me...averaging into them for years. I really don't know of a long term strategy better than that. I am happy however with my shift more into a heavier weighting into bonds a few weeks ago. It's been riding out the storm much better lately. Anyways..have fun. Yeah, the bulls sure didn't take any prisoners in the last 20 minutes or so..
Averaging in to your mutual funds like you do is a good plan. One has to do whatever works for them..
And thanks for starting this thread. It is very interesting to hear what others here are thinking and investing in. |
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| reply to Rick
DJIA - 2007.08.01 |
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You have to wear the foil shiny side out or it doesn't work. - Hanrahan |
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 RWoodsPremium,MVM
join:2001-08-07
Montville, NJ | reply to Rick
What a crazy freakin' day. Now all we need is Alan Greenspan to make one of his ill-timed comments to the WSJ to really shake things up.  |
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RickPremium,MVM
join:2001-02-06
Waterbury, CT | reply to Rick
Wow. Not good.
American Home Mortgage to close today. 7,000 to lose their jobs.
»biz.yahoo.com/rb/070803/american···tml?.v=1
This is a big mortgage company who is now failing. And one that is a prime to alt A lender..and not a subprime one that so much has been heard about.
Investors should be VERY careful investing in virtually any financial stock IMHO.
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The Coyote captured the RR! Roadrunner Rick is now Comcastic! |
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 Hugh JanusThe Internet O.G.Premium
join:2002-07-10
back nine | reply to Rick
Ugggh! I'm heavily long the usd/jpy and other jpy pairs. This sell off today has given me a large ulcer. Three weeks of profits gone in a blink of an eye and I could have closed out this morning at break even.
Black Monday a possibility? |
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RickPremium,MVM
join:2001-02-06
Waterbury, CT | reply to Rick
Dow 13,182.15 Down 281.18 (2.09%)
Nasdaq 2,511.25 Down 64.73 (2.51%)
S&P 500 1,433.07 Down 39.13 (2.66%)
The blood certainly was flowing on Wall Street today.
Bear Stearns CFO said this today...
"conditions in the credit market are the worst I've seen in more than two decades."
Not hard to see why with Prime~alt A mortgage companies the size of American Home failing as fast as that one did.
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The Coyote captured the RR! Roadrunner Rick is now Comcastic! |
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sailorPremium
join:2003-10-21
Long Island
kudos:6
4 edits | reply to Hugh Janus
said by Hugh Janus:Ugggh! I'm heavily long the usd/jpy and other jpy pairs. This sell off today has given me a large ulcer. Three weeks of profits gone in a blink of an eye and I could have closed out this morning at break even. Black Monday a possibility? Very possible for a huge follow-thru sell off on Monday..
Around 1:30 this afternoon I am watching and from my observation I felt the market would turn lower, much lower..So I bought PUTS on the DIA which is based on approx 1% of the Dow Jones. Here it is:
»finance.yahoo.com/q?s=dia ( for those here who understand call and put options)
You can see from me coping and pasting my order below that the DIA was at 133.89 when I decided to make my bet that the Market would tank. I bought 4 July DIA PUTS with a strike price of 131.00 for $1.10 each which translates to $1.10 x 100 = $110.00 for each one..Times 4 contracts for a total of $440.00 + $12.95 Commission for a total cost to me of 452.95.
The market did do what I expected and sold off and now those options closed at $1.90 each or $190 x 4 = $760.00 I would have received if I sold them at the close for a profit of $307.05...( they actually traded for $2.05 at one time) »finance.yahoo.com/q?s=DAWTA.X
But I had no intentions on selling them and actually left my house as I believe the market will drop much more so if the market drops on Monday as I expect, the profit potential will be much more...And if the market on Monday looks to me to go back up I will then close out my position and take profits..
The market to me is in extreme trouble..The huge rally at the end of the day the other day had no legs under it ( dead cat bounce) and just gave the big boys time to bail out at higher prices..
I feel we are going much lower..But I only bet a little over $400.00 on that as anything could happen over the weekend...I would have bought many more contracts if it was a weekday not heading into a weekend but I am happy with what I am holding.
And for those who are long going into the weekend, my advice is to see what happens on Monday and if the selling continues big time, then either add to positions or sit tight unless you are considering selling something anyway. I haven't sold any of the few stocks in my long term portfolio as they are like forever stocks to me..I am a trader and not a long term investor.
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Here is my trade.
Description: DIA AUG 131 Put
Stock: DIA at 133.89
Action: Bought To Open
Quantity: 4 contract(s)
Price: $1.10
Commission: $12.95
Reg Fees: $0.00
Net Amt: $452.95 |
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 ARPremium,ExMod 2001-04
join:2000-09-21
Toronto, ON | reply to Rick
No financial guru here so I'll ask the bottomline question - is the US economy looking downward for 2007-2008 and possibly beyond? |
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