picked drys back up 19.93
damn waited to long to buy but i think these prices will be good tomorrow.
dal 9.89
drys 19.93
14.60 uaua
should of bought ealier but i was entrenched watching my DUG trade as it was a large one for me. the stocks i picked up i could have gotten for 7 k less if i had bought them at around their lows.
now it up to CNBC to tell everyone why we sold off, those poor hedge funds. then tell us about the credit market rates falling and get us comfortable to buy again tomorrow :beer
well got my A$$ kicked today. gave up what i made yesterday.
airlines are going to fallback some so i guess i can be happy that i can buy more of them next week.
DRYS made a cent a share
UAUA lost 1.70 a share
DAL lost 80 cents a share
SSO looks like it should make me some money so ill still be up a tiny bit from yesterday. timing is everything in this market. :banghead
omg there is a storm brewing this morning. i checked the dow futures they are down almost -400 pts 4am right now. we might open into total and utter chaos tommorrow morning.
this might be Black friday
The DOW futures are now limit down, but that’s only 548 points. Big deal. The market is still overpriced by at least 1,000 points. If we’re headed into a depression, then it’s still overvalued a LOT more than that. I’ll probably put in an order to by the SPY at $81 to play it for a pop, but I’m not at all convinced that is the 7,700 low will hold.
Mike
You are witnessing history to be alive during these times…Seems like these markets are setting up for the big one (crash)…Just has a bottomless feel…Hopefully I’m wrong,very wrong…
I knew the market had that feeling,then the Fed shot liquidity into the markets and thats when we bounced…I knew I knew I knew it…Thank god I’m in cash…%100…
I’ve traded these type of markets before,lock limit down will bounce…DO NOT SHORT THE OPEN OF THIS MARKET…In fact stay the hell out of the market all together…This is a pro’s market only and the swings will be VIOLENT…Even if you are right you will be wrong because of the need to have extremely wide pullbacks on any bounces…Computers and trade software will LOCK UP…Service phones will be clogged with callers trying to exit trades…If you lose data and have to get out of a position you will be screwed BIG TIME…You may watch your position sink against you only to get on the phone 15 mins later and you are smoked dry of all your $$$$$$$…These times are for preservation of capital…Be smart and step the hell back…
Mike,
Why fight this???
I have 1000 June 09 QQQQ $15 puts that were basically worthless a few weeks ago. It was cheap insurance. And I’ll send ANYONE the trade sheets who doesn’t believe me. I’m not trying to be smart here, but at some point you can’t walk away from the fact that our CONSUMER ECONOMY is DEAD.
This is the REALIZATION of EVERYTHING you and I have been talking about here for over 2 years. Forget trying to pick a bottom here. The economy is screwed. I’ve seen Elliot Wave Theory charts looking for a DOW of about 4000-5000 before this shakes out.
When you see the nightly news covering “THE HERD” bailing out and CLOSING their 401K’s THEN we’ve have a bottom.
At that point you buy the 2010 QQQQ calls and ride the other side.
SOMEONE…PLEASE show me how you can have an economy that is shedding JOBS by the TENS OF THOUSANDS per day, and you DON’T get a SEVERE recession/depression.
Our economy is a SERVICE economy. We all got FAT and HAPPY. I’m 43 years old. When I was a kid even the “RICH” folks CUT THEIR OWN LAWNS. We now have LANDSCAPERS on EVERY STREET in this country.
We have our cars DETAILED. That TERM didn’t even EXSIST 30 years ago.
People who once MADE the items that line Home Depot shelves, and made a LIVING (at mostly union) wages. Now work for $8/hr SELLING the same items now made in CHINA. We did this to ourselves…What we are now seeing is the REVERSION TO THE MEAN.
i think hedge funds start selling @3 again today. their fiscal year ends oct 31 so their time is running out.
i think we end the day down 700 pts. leaving everyone thinking the prior low might get cut threw next week. i think the close will tell us a lot. I still dont think we’re going under the prior low.
bought back dug @ 53 .
I think the end of the day will have a large amount of selloff today.
yes this is terrible for investors monday, tuesday pick the day the market will crash.
Im so angry right now i placed my order wrong on dug had a changed my stop @ 52.50 i typed in stop limit i guess. came back seen the stock just below it and went to check it. never sold i ended up getting out of @ 51.60 ish. shoulda sold it at 55 but wanted to wait for the final hour selloff. :banghead :banghead
Peter Schiff wrote a book called “Crash Proof: How to profit from the coming economic collapse” http://www.amazon.com/Crash-Proof-Economic-Collapse-Sonberg/dp/0470043601
He also has a new one that came out this month. His website has some info on it, along with interviews he as done, etc.
www.europac.net
Basically he thinks that our dollar is going to crash, and he thinks selected foreign investments are key. He likes Canadian energy trusts that pay 9% dividends, they own the pipelines.
-Ben