posted
dang! 120 up! I think Monday will be a crucial day. If we are solidly green Monday then I think the correction has slowed and it might be time to go long. If we are solidly red, then this correction is not over.
-------------------- wide open until you see god, then brake! Posts: 793 | From: Colorado Springs, CO | Registered: Apr 2005
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I saw that too Sju. I figured it was gonna bounce around that .80 mark. Could be a good buy, yet there's a lot that looks good. Although very unsure about the market......proceed with caution.
Posts: 1503 | From: washington | Registered: Jun 2009
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Well, the DOW is down, but everything else is about even. Not sure if today will end up green or red. Wait until the market decided direction and then play guys. I am still waiting on funds to transfer.
-------------------- wide open until you see god, then brake! Posts: 793 | From: Colorado Springs, CO | Registered: Apr 2005
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quote:Originally posted by rajthebam: still stuck in MT land
Bummer. I lost a bunch on that thing too. It will come back. Remember when I was stuck in FAZland? Look at that dang thing last week, up to $17 something.
-------------------- wide open until you see god, then brake! Posts: 793 | From: Colorado Springs, CO | Registered: Apr 2005
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i know glenn. I had sold options on FAZ thinking it would never be exercised and checked this morning - the order got executed and my FAZ is not with me anymore - I didnt loose money on that one at least. I am thinking if i should do the same on MT and sell 37 call options for may be Sept 2010 which will give me at least 1.25 per share back reducing my cost basis. thoughts?
Posts: 544 | Registered: Aug 2008
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Raj, forgive me, but I do not know a great deal about options. So that means you have the right to sell MT at $37 in September, correct? What is the difference between a call and a put?
-------------------- wide open until you see god, then brake! Posts: 793 | From: Colorado Springs, CO | Registered: Apr 2005
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posted
i am also stuck in YRCW at around 0.64 aaarrrgghhh.....should i sell and take a hit?
i don't do put options at all but i wish i knew abt them a little more...i only write covered calls meaning i own at least 100 stocks of particular stock and selling call option gives someone else a right to buy the 100 stocks (which is 1 contract) at particular price - in esence, i could buy lets VZ at 29 dollars a stock and sell $30 option for June option expiration giving option buyer the right to purchase stock fm me at 30 dollars even though the stock price may be higher than 30....hope this helps. The option buyer gives me premium for this right to buy at 30 dollars decreasing my cost basis for example getting $1 per stock premium would decrease my cost basis to $28 dollars - if at expiration stock price is below 30, option goes worthless and now I own VZ 100 stocks at 28 dollars since the premium received lowered my cost basis
Posts: 544 | Registered: Aug 2008
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Not sure what to tell you on YRCW there Raj. If they do a Reverse split it could send the price all over the place and you might be able to grab a better sell point....MIGHT, Yet, at the same time if you don't have a lot in it, it could be good to hold for a while to see if that price does come up. But also if you don't have a lot in it you might not be loosing a lot too.....just some options there for you.
Posts: 1503 | From: washington | Registered: Jun 2009
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Sju, we are in for a huge downturn, IMO. I'm talking DOW 9000 or below. There is no more good news to keep this economy afloat. It's all cooling off again. SHORT SHORT SHORT. FAZ and DRV for awhile.
-------------------- wide open until you see god, then brake! Posts: 793 | From: Colorado Springs, CO | Registered: Apr 2005
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anybody alive? Nice green market today. I am not gonna out any money into the market right now until it hits what I think it bottom in this cycle. I am doing well with my car inventory so I won't be trading. However, I will be in here everyday like usual because I love the stock market too much to step away. What are you guys trading today?
-------------------- wide open until you see god, then brake! Posts: 793 | From: Colorado Springs, CO | Registered: Apr 2005
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posted
Still in FNM here Glenn. I have a little more money to trade with. Yesterday I had to be gone most of the day, yet I was thinking I should put a low buy on SIRI at about .89, went down to .88, and jumped right back up. shoulda coulda. I'd like to put that money somewhere instead of just spectating like I've been doing lately.
Posts: 1503 | From: washington | Registered: Jun 2009
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I wish I would have had some funds for SIRI also TJ. Up 15%, that would have been nice.
Posts: 426 | From: Philadelphia, PA | Registered: Nov 2008
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MT is down again....damn....i have 3 free trades to burn before Nov 2010 hopefully i will take full use of that
Posts: 544 | Registered: Aug 2008
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Well guys what's up today?? How was your weekend? The market is green and looks to be stable, I wonder if were going to start to bounce up.
Posts: 1503 | From: washington | Registered: Jun 2009
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