not meaning to break up the purpose of this thread, but there are obviously a lot of day traders in here. I'm wanting to get into this. where can i get references to get started on this stuff?
rgthree said: WallStreetPirate said: sandy05 said: Whats up with RIMM? Up 7% today
They sold more phones than AAPL?
probably. BB10 is AMAZONG! Buy all the RIM stock you can folks.
yea, and everybody just dreamed about it today shooting stock up 12%? They are probably going to sell it on BBY with help of GRPN. This solves the mystery why all three are doing good today.
I think RIMM is up because some buyers got excited seeing it gap fill
Looks like no meaningful earnings reports till Wednesday when JPM, GS, USB, eBay report. Me thinks this Market is too high, love to see a meaningful drop
kantscholar said: If you're going to play ZNGA, I think the way to do it is by selling front month puts. You can get 0.22 for the Feb 2.5 strikes. That's nearly 10%. thinking is terrible ER before expiry maybe. but yeah, a good way to play since owning outright and time is probably your friend, so why not a discount (at worst)
If I held my BBY calls from a month ago, I'd be a happy camper.
Don't feel bad, I got in on HPQ weekly calls at 4c and 7c late morning, watched them do nothing all day, tried to sell for break even and missed it, then finally sold for 5c thinking I'll cut the loss, then saw bid go to 1c, thought I did ok to only take a slight loss, then watched the POS go up in the last hour and bid go to 14c. Note to self: if get cheap calls early in the day ride them till profit or 10min to close, whichever comes first. A nice trade turned into a slight loss instead of a nice double plus.
one more, got HPQ weekly put at 7c at open on the spike, waited 20min, sold for 22c, I was like, all right, not bad, then watched in disbelief the bid rise to 65c in the next hour. Banged head on the wall!!!! Don't make such huge bets in all or none fashion. Do 100 contracts or less, heck start with 10 maybe, and get a cheap commission broker that doesn't rip your guts out.
edit: Get OptionsHouse for execution, but charts, T&S etc from somebody else, I like scottrade setup for charts.
sandy05 said: How can BBY stock go up 17% in few hours on no news? Where are the circuit breakers?
I had shorted the $12 put 2 days ago ~ 85c, covered yesterday before close (when stock was $12.20 ) ~ 48c thinking they will miss, watched the put ask go to nearly nothing this AM, slapped myself for being stupid
one more story: couple days ago bought HPQ 15.50 puts for 14c, watched them fall to less than 7c, rebound to 8c, sold to cut loss, and watched bid fall to zero, in that case it worked out, cut loss and was ok, what I hate is I cut loss and then it goes my way half hour later, and I'm like $&@#%!!!!! But that is the life, trading on a mobile phone.....
WallStreetPirate said: hakujin said: here's another that could easily double, triple, quadruple - all w/o batting an eye this year: ZNGA. Could be as easy as fixing the current biz, or the online gambling they are not lobbying for might pay off. watch for legislative news, especially if online gambling is legalized nationally. may pop before this then sell after. see insider comments.
I'd pick ZNGA over GRPN any day
With a gun to my head. I'd pick ZNGA also, but I'd rather not have any of them anymore. GRPN looks ripe to be shorted again.
even POS RSH is +5%, what the heck is going on ? all the sheep started to finally buy everything in sight? this means we are close to a fall of some kind, how long can this irrationality continue?
Anyone here from chicago area? would be cool to meet up somewhere and share insight and trading(war) stories, both good and bad. I'm all for learning and maybe can teach you something too. PM me if interested, and let me know what area you are in. Can meet at a library or a starbucks or something. I'm all for improving trading hit ratio, so bring ideas too. Or perhaps can do some kind of cyberspace meeting with those interested, but would have to figure out how to do screenshare etc when someone is explaining something(so can write stuff, show charts, and other info, etc)
rgthree said: RIMM is a hot stock. Go with the hot hand. If BB10 is a hit the stock could double easily. Buy all you can now.
I regretfully admit I sold it for less than $7 few months ago after selling a put and ending up with having to take shares. Impatiently, I sold it at 20% loss, now would have been up over 50% just few months later. Impatience, in the end, kills most of my good trades
sandy05 said: WallStreetPirate said: BBY +7% premkt, sales only down 1.4% from last year
Good enough to pump stock up 12%? What if the sales were flat, we would have seen this POS shooting up by 30%.
Sales were flat to down, but the big thing was the jump in rev's in certain stores/areas due to AMZN now charging sales tax, plus the usual buyout out hype and you got yourself a nice runup for all the sheep to pile into.
edit: BBY survives IMO dividend cut is coming very soon, cash outflow needs to be reduced
ICMATULKASPRMKY said: So Facebook gonna just keep going up everyday forever? It's getting pumped heavily by the media every day, so I imagine it will surpass the IPO price to give the lemmings an opportunity to sell( that way they can't keep claiming they got suckered ), but of course they won't sell it, since they will be holding out for $100/sh. Media runs the show as far as the market, just look what it did to BBY, up like 25% in 2 days on flat sales and cash flow being reduced because vendors are asking them to pay sooner. WTF? how stupid are the buyers of this stock, I swear they deserve to lose every penny and more. Even RSH was up 5%, I mean come on!!!! The pigs and sheep have been herded into the barn and slaughter will proceed shortly. If I was a fund manager playing with other people's money like it was monopoly money I'd be trying to do the same thing.....buy when stuff goes up, as not to be left out of the action. I'm assuming that funds got a new wave of cash lately, maybe people contributing to IRA's or whatever, so they are buying everything in sight. But, it's a negative sum game, so they are being sold this crap by the institutional traders/advisors who know this stuff is crap but have to sell it to the muppets to make their own numbers. So in the end you get a disconnect between reality and reality distortion. No doubt that pigs get slaughtered, and there are a lot of pigs jumping on the "story" bandwagon. It will get ugly.
WallStreetPirate said: ICMATULKASPRMKY said: So Facebook gonna just keep going up everyday forever? It's getting pumped heavily by the media every day, so I imagine it will surpass the IPO price to give the lemmings an opportunity to sell( that way they can't keep claiming they got suckered ), but of course they won't sell it, since they will be holding out for $100/sh. Media runs the show as far as the market, just look what it did to BBY, up like 25% in 2 days on flat sales and cash flow being reduced because vendors are asking them to pay sooner. WTF? how stupid are the buyers of this stock, I swear they deserve to lose every penny and more. Even RSH was up 5%, I mean come on!!!! The pigs and sheep have been herded into the barn and slaughter will proceed shortly. If I was a fund manager playing with other people's money like it was monopoly money I'd be trying to do the same thing.....buy when stuff goes up, as not to be left out of the action. I'm assuming that funds got a new wave of cash lately, maybe people contributing to IRA's or whatever, so they are buying everything in sight. But, it's a negative sum game, so they are being sold this crap by the institutional traders/advisors who know this stuff is crap but have to sell it to the muppets to make their own numbers. So in the end you get a disconnect between reality and reality distortion. No doubt that pigs get slaughtered, and there are a lot of pigs jumping on the "story" bandwagon. It will get ugly.
Media does not control the market. The big funds control the market and tell the media to run certain stories/lies.
Look at Apple and the whole cheap iPhone story. Total lies. One of the analysis cut his target because of a LIE.
one can fine similar stories to BBY in GMCR, JCP, RIMM, and SHLD after E/Rs in last 2 qtrs. I remember 13s in P/M w/ JCP before a run to 23s on a dire report that sent people at first flocking, before a gradual pump in P/M; Same with GMCR (ironically I had planned to trade it if they beat the low expectations Q2 which sent them to $17/sh)
I stopped looking at what makes sense and assume many in the stock know what they are doing and will get out when the time is right pumping the crap and dumping the 'good' stocks. Ultimately, this collaborates w/ my thesis that it is purely BS that runs what gets pumped and what gets dumped, a crapshoot in this range.
With a gun to my head. I'd pick ZNGA also, but I'd rather not have any of them anymore. GRPN looks ripe to be shorted again. Yeah, I feel you. And then when it's 8/sh again, it will seem peculiar but nevertheless a reality. Spin the wheel and hope you hit the right number. As it stands good performers (aapl, crus, rgr, etc.) could be at 75% of their present value in 6 months, and ZNGA could be at 5/sh and still coined 'undervalued' by talking heads. Because this (more or less) is a distinct possibility based on market manipulation at all levels, who's the wiser: the investor who knows how to look at all company metrics and make an informed decision (yet still lose $) or the guy who doubled his port in less 3 months w/ Green Mountain?
Maybe I've just overly cynical here, but Mar12 onward has just seemed like a total gamble.
edit: in other news Citigroup Initiates SodaStream International at Buy on Momentum JAN 11th. Basically, it's been on a run so we are led to believe it continues? lol, CRAPSHOOT
This is a bunch of BS to drop the price before options expire date this week. Notice the report says 'unnamed sources'. What kind of BS is that! Apple never said demand was lower. Anyone can be an unnamed source. Of course the orders would have dropped from the Oct-Dec Qtr. It happens every year, its called the Holiday season. Plus the cuts could have been made because of a new iPhone6 coming in May/Jun.
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