Slightly OT: Any successful stock trades this year to pay for cards?
TheCARDKid
Posts: 1,496 ✭
I haven't kept up with the market as closely as I use to 3 or 5 years ago. but I know there's been alot of action with the banks, mortgage bust, credit crunch, etc.
Has anyone been playing the banks, ibanks, or fnm, any of the financials? Short or long?
The big generals of the market (or former generals), Dell, WMT, MSFT, I don't have a clue where they're going.
GOOG I thought was a short a few years ago at $400-500, shows what I know.
Anything international?
Somebody must be cleaning up in this market....more bucks for Mastro, ML, etc to get those "record prices".
Any commodities or futures, or option plays. Energy, oil, gold?
Has anyone been playing the banks, ibanks, or fnm, any of the financials? Short or long?
The big generals of the market (or former generals), Dell, WMT, MSFT, I don't have a clue where they're going.
GOOG I thought was a short a few years ago at $400-500, shows what I know.
Anything international?
Somebody must be cleaning up in this market....more bucks for Mastro, ML, etc to get those "record prices".
Any commodities or futures, or option plays. Energy, oil, gold?
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Comments
As far as stocks go, I bought National Oilwell Varco (NOV) for a split adjusted $26/share a year ago January. A year and a few months later it is at $75. Of course I have taken some gains on it along the way, but still hold a core postion.
I have had some others, as well as some losses. As a general rule I don't take more than a 12% loss on anything. I just admit I was wrong and move on.
The gains weren't used directly to by cards, but it does give me the feeling that I have more to spend on cards. I guess whatever it takes to justify spending money!
I got into the GOOG craze at around $530 a share and sold for somewhere around $690. Right now I'm sinking money into financials, mostly Visa since they released their IPO a few months ago. I figured it's a safe bet and there's tremendous earning potential since they only make money off the transactions. I've been buying shares between $58 and $74. I will probably continue to buy until up in the neighborhood of $110 a share. Right now I'm pretty even across the board with tech and energy. I sold off a lot of my financials in early '06 (luck). I lost quite a bit a couple years ago in AMD, so I guess it all comes out in the wash.
The market seems to be stable around 11,200 - 11,600 but who knows. I don't anticipate it going too far below 11,000. The pre-election drop should be a given, but no more than 500 points. We'll see. I'm sure if the market takes a drastic dive someone will bump this thread to the top.
Disclaimer: I'm not a Wall Street broker, but I stayed at a Holiday Inn.
BUY.......... DUG
SHORT.......USO
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IF you think folks and banks need CASH,
SHORT..........SLV, if silver goes above $14.35
SHORT..........GLD, if gold goes above $925.00
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IF you think EBAY is an out-of-control RICO-Enterprise,
SHORT........ EBAY, if it goes above $28.70
(Or, you can SHORT it now, if you have faith that it is
actually a $7.00 stock.)
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If you want a wild-ride lottery-ticket,
BUY........... FRPT, in the morning.
(Went from $31.00 to $1.03. Now at $4.00. It could run
again in the next 10 to 60-days, or it could go down a little.)
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The last time we talked about BAC here, it was at $25.
It then went to $18. Then back to $33. It is now $31.
IF BAC goes above $33.75, SHORT it back to the stoneage.
It may end up being the last bank standing, BUT it will
likely be a $6.00 stock.
...........................
SHORTing the other financials, has become risky. There could
be rescues and buyouts that would crush your trades.
If you are brave and want to SHORT GS, wait for $185 and
SHORT a bit at a time. Eventually, they too will stumble.
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CLCT is way up from the lows, but it still pays a 12%+ dividend.
/////////////////////////////////////////////////////
ALWAYS build your positions SLOWLY. A little munch at a time.
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DISCLAIMER: I hold the positions noted above. If you follow
me, you may LOSE ALL or PART of your money. Wall Street
is a casino. NEVER bet money you cannot afford to lose.
Just recently made 34% on an OCT 32.50 CALL option on AA (Alcoa).
Also did really well on a $23.00 DEC CALL option on the XLF sector (48% gain).
I'm currently in a DEC 15.00 CALL option on WNR (Western Refinery) and sweating it out. Oil prices were down $4.00 today because gustav was a bit better than expected and the market had already corrected. I feel like WNR (currently trading at just over $9.00) could be at anywhere between $6.00 and $15 within 2 weeks depending on the news over the next couple days.
I play small ball in the market and am really just trading options at this point (because I like gambling) but I've made 101% on my entire portfolio since July 1. Trying to pay for my wedding, can't buy cards.
My Podcast - Now FEATURED on iTunes
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To clarify:
My negative opinion was given at $25.
It then went to $18.
It then went to $33.
<< <i>"Bought BAC (Bank of America) at 22.00 against Storm's strong opposition and sold it off at 29.00."
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To clarify:
My negative opinion was given at $25.
It then went to $18.
It then went to $33.
Hey, you're not getting any derision from me. I made bunch of cash!!!!
My Podcast - Now FEATURED on iTunes
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I did not think it was derision.
Just making my record.
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I would not have SHORTed BAC below $20. But, at $25 it was SELL,
that went to $18 and recovered.
I am now SHORT BAC above $30.
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Most of my SHORT positions are held in CORE; for a long time.
It's made me question the smaller models I use to follow. I'm not in any of the big cap big names. MSFT or any of those. I think they're going to be a wash for 20 years after the big 90's bull run. INTC, MSFT, they're all where they were in 98, 99.
And after inflation, a lower dollar, everyone is underwater from where they bought in 10 years ago.
Similar with those "can't miss" pharmaceuticals, Mrk, Pfe.
Long term I think there will still be a gigantic shake out from the 80's and 90's excesses.
About a Google short (or aapl?), I think of quotes like..."the market can stay irrational, longer than you can stay solvent". Or longer than you have the patience for. These things don't come down when you want them to.
The financials, like Leh, or Bear Stearns. Those moved too fast. Or Fnm. On a lot of these, you're playing bounces before they go bust. Then you've got possible resucue, buyouts.
Long term, I dont see where the growth is going to come from for a lot of these (ebay or starbucks). Or retail.
Just made some money buying Webster Bank (WBS) $14 to $21
All short term gains.
I won't mention the stocks I lost on though.
Dave D.