Author Topic: Active investors/Day Traders Thread  (Read 110207 times)

kato

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Re: Active investors/Day Traders Thread
« Reply #350 on: August 06, 2014, 01:49:57 PM »
Roland,
Been reading this thread since the beginning, wish someone could explain calls / puts for me easily.. I have option account opened on sharebuilder and want to play with $30K in ROTH IRA, but not really confident to buy/sell puts/calls.  I short buy/sell stocks often, but really want to do covered calls, sell puts, etc.  Any simple language to understand this stuff enough to start trading them?

I read what your stock market returns are and its made me think hard about my rental properties.. I think I'm doing good with 2 yr average 15% returns on my investment of down payment, but I still have to maintain property / tenants.  Debating whether to buy another rental or use the down payment I have saved up and dabble more in stocks..  looking for cashflow to live off of..  about half way there..

Cheers!

Roland of Gilead

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Re: Active investors/Day Traders Thread
« Reply #351 on: August 06, 2014, 05:48:11 PM »
Go with what you know.  If rentals are giving you good returns, I would stick with those.

Stock investing is risky.   I think I will end up making money for example on those $100 Gilead puts I sold, but some news could come out next week like Congress mandating Gilead give away Sovaldi for free or there could be a side effect and lawsuit.  Similar thing could happen to any stock I guess.  The next I-phone could be a total flop.

I should also mention I am doing this with money I can afford to lose.   I don't gamble with our 401K or main taxable accounts, just with these IRAs which started so small.
« Last Edit: August 06, 2014, 05:49:59 PM by Roland of Gilead »

Astromarine

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Re: Active investors/Day Traders Thread
« Reply #352 on: August 07, 2014, 04:51:12 AM »
I'm really new at this stuff, and I had a couple questions:

Apple's under 95 right now. You guys think it's worth buying?

Second, especially for Roland: I managed to read about Gilead on some site, and bought a bit. Currently, I have 30 shares, and paid an average unit cost of 91.2. They're at 92.8 now. Obviously we're talking pennies here, that's about 3k invested in it, but do you think it's worth buying more? Should I hold out and sell at what, 100?

soccerluvof4

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Re: Active investors/Day Traders Thread
« Reply #353 on: August 07, 2014, 07:11:21 AM »
My Favorite Spec stock is out there winning awards again MONIF.... Also seems to have found a bottom at least for now BUT i will back the truck back up if it drops to 65 and or starts to run.

http://www.monitise.com/news/press_releases?id=946 

Roland of Gilead

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Re: Active investors/Day Traders Thread
« Reply #354 on: August 07, 2014, 07:31:12 AM »
I'm really new at this stuff, and I had a couple questions:

Apple's under 95 right now. You guys think it's worth buying?

Second, especially for Roland: I managed to read about Gilead on some site, and bought a bit. Currently, I have 30 shares, and paid an average unit cost of 91.2. They're at 92.8 now. Obviously we're talking pennies here, that's about 3k invested in it, but do you think it's worth buying more? Should I hold out and sell at what, 100?

It looks like Gilead is trading for near $94 premarket today.   Even so, that is only $90 profit for you.  How much are your trading costs?  If you are paying $8 to $10 to trade, then that is a large percentage of any profit.   If you have free trades then you can take profits whenever you want.

I have no crystal ball on Gilead but $100 is quite reasonable and below almost all analyst's one year price targets.

Astromarine

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Re: Active investors/Day Traders Thread
« Reply #355 on: August 07, 2014, 08:09:43 AM »
I'm in Switzerland. My trading costs would make your eyes bug out and your brain explode. so there's no way I'd sell GILD below 100 anyway. I'll wait with my current stock until next year and sell then. I got stuck with some positions like that by starting with low levels of cash, costs absolutely wreck any thought of "starting small".

Magclaw

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Re: Active investors/Day Traders Thread
« Reply #356 on: August 07, 2014, 10:36:42 AM »
I currently sell covered calls on sharebuilder (i have level 2 option approval). I got curious about the GILD put that Roland mentioned and tried to sell that put on sharebuilder which informed me "The option you selected (GILD Jan 17 2015 $100 Put) can not currently be traded at ShareBuilder."
Anyone give me clarification on this?

Roland of Gilead

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Re: Active investors/Day Traders Thread
« Reply #357 on: August 07, 2014, 12:04:44 PM »
Weird.  Five of those $100 puts were sold today at $12.05 to $12.65 according to yahoo (I have not logged in to my trading account to see the real time quotes today).

I am not familiar with sharebuilder though.  Will they even let you sell cash secured puts?

Do remember that if Gilead dropped back to the $70 area on a market pullback, those puts would be $30 in the money, meaning technically you have lost $17 or so per option.  On the flipside, if Gilead goes to $110 the profit you make is capped at the put sell price ($12 to $13 right now).
« Last Edit: August 07, 2014, 12:07:21 PM by Roland of Gilead »

soccerluvof4

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Re: Active investors/Day Traders Thread
« Reply #358 on: August 07, 2014, 02:01:05 PM »
1900 held today but the trend is down until its not. Be nimble and make quick trades but I wouldn't go long here. This move has been minuscule as far as corrections are concerned. Just my two cents and probably not worth much more than that...!

Mother Fussbudget

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Re: Active investors/Day Traders Thread
« Reply #359 on: August 08, 2014, 01:42:33 PM »
ShareBuilder offers limited option contracts.  Same for mutual funds (i.e. no VTSAX).
They do offer good deals on drip-like "automatic investments" for buy-and-hold investors.  They allow you to buy fixed-dollar amounts of ANY stock/mutual fund they offer - on a regular basis (monthly, twice monthly, weekly, etc).
 
The rates are VERY good for those with CostCo accounts (I created a CostCo/ShareBuilder account, and transferred my existing account into it, reapplied for options, etc).  see http://www.sharebuilder.com/costco for details.   They don't call it out, but even their 'Advantage' program is only $10/mth (vs. $12 regularly) for CostCo users.

soccerluvof4

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Re: Active investors/Day Traders Thread
« Reply #360 on: August 11, 2014, 07:31:30 AM »
Will definitely short the market today with the run up Friday and what looks to be a ramp up this morning.

Roland of Gilead

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Re: Active investors/Day Traders Thread
« Reply #361 on: August 15, 2014, 06:04:19 AM »
Gilead's Sovaldi won UK approval at $700 a pill.   Probably hitting $97 or $98 today.

$100 we talked about in this thread is coming up sooner than I thought.

soccerluvof4

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Re: Active investors/Day Traders Thread
« Reply #362 on: August 15, 2014, 08:42:18 AM »
Gilead's Sovaldi won UK approval at $700 a pill.   Probably hitting $97 or $98 today.

$100 we talked about in this thread is coming up sooner than I thought.


GILD is a golden goose!!

Looking to initiate again  QID  ( again not for the amateur trader)  worked out well last time.

TreeTired

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Re: Active investors/Day Traders Thread
« Reply #363 on: August 15, 2014, 08:51:20 AM »
I got in on GILD recently... probably due to reading about it here (thanks).   This market is nuts.  Aside from all the commentary predicting an imminent crash,  you have much complaining about the unnecessary continuation of zero interest rates and the Fed planning their exit strategy... so what happens?  Rumors of another QE and Treasuries soaring,  with no comment from the Fed - you would think would say no more QE.

Roland of Gilead

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Re: Active investors/Day Traders Thread
« Reply #364 on: August 15, 2014, 09:42:19 AM »
I think I have made about $25,000 this year on GILD alone, so it is fitting that my user name has Gilead in it (when I chose the name, based on a SK character, I had never looked at GILD stock).

I could be up more than $200,000 had I kept most of the calls I bought on GILD back a few months ago when it was $68.   Ah well, win some win some is how the saying goes.

soccerluvof4

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Re: Active investors/Day Traders Thread
« Reply #365 on: August 15, 2014, 10:32:26 AM »
is the trend now lower highs and lower lows?? not going long on anything into the weekend. Not worth it.

Astromarine

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Re: Active investors/Day Traders Thread
« Reply #366 on: August 18, 2014, 05:57:53 AM »
GILD trading pre-market at 101.5. Oh deary deary me.

Why why WHY do I only have 30 shares of it? Cry forever.

soccerluvof4

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Re: Active investors/Day Traders Thread
« Reply #367 on: August 18, 2014, 07:16:27 AM »
Congrats GILD lovers breaking 100$

soccerluvof4

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Re: Active investors/Day Traders Thread
« Reply #368 on: August 21, 2014, 09:55:47 AM »
with the continued ramp up this week I am backing into QID with a tight stop

Effort_to_Stach

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Re: Active investors/Day Traders Thread
« Reply #369 on: August 24, 2014, 08:52:33 AM »
I went into full cash last week since I am going to be buying a house before too long. This is my trades for the year. I think I had some good luck and did pretty good.

I mostly bought stocks and dips and sold them not long after. There were a few purchases made going into quarterly earnings that I played too.

Does anybody have any thoughts on the best way to figure out what my return would be based off of this info?

Thanks


Roland of Gilead

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Re: Active investors/Day Traders Thread
« Reply #370 on: August 25, 2014, 05:47:19 AM »
Your return depends on how much you had in the investment account.

It looks like from your trades you had no more than about $5000 to $6000 invested at any one time.   If your account was $10,000 at the start of the year and you made $1775.81 in gains then your return would be 1775.81/10000 = 17.8%

soccerluvof4

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Re: Active investors/Day Traders Thread
« Reply #371 on: August 25, 2014, 08:05:40 AM »
Looks like GILD wants to go to $125

Roland of Gilead

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Re: Active investors/Day Traders Thread
« Reply #372 on: August 25, 2014, 08:31:48 AM »
Looks like GILD wants to go to $125

Realize that a few months ago when we started talking about GILD in this thread I had over 100 call contracts for GILD $75 strike that expire Jan 2015.  :-(

I sold almost all of them WAY too early.  Oh well, what is $200,000 among friends, right?

TreeTired

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Re: Active investors/Day Traders Thread
« Reply #373 on: August 25, 2014, 08:38:20 AM »
Looks like GILD wants to go to $125

Realize that a few months ago when we started talking about GILD in this thread I had over 100 call contracts for GILD $75 strike that expire Jan 2015.  :-(

I sold almost all of them WAY too early.  Oh well, what is $200,000 among friends, right?

lol!   I would just shoot myself and end the misery!!   on to the next trade!   I still own my one and only purchase of 100 GILD.   Thanks  again for bringing it to my attention.  Sure beats working for a living.

soccerluvof4

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Re: Active investors/Day Traders Thread
« Reply #374 on: August 29, 2014, 11:34:50 AM »
Its time to initiate a few longs today.

I am DCA in TBT and TBF

I am DCA in SQM

soccerluvof4

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Re: Active investors/Day Traders Thread
« Reply #375 on: August 29, 2014, 12:05:12 PM »
Due to the decay of TBT I will be only in TBF and of course SQM

LONG: TBF and SQM

YoungInvestor

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Re: Active investors/Day Traders Thread
« Reply #376 on: August 30, 2014, 04:07:40 PM »
Roland,
Been reading this thread since the beginning, wish someone could explain calls / puts for me easily.. I have option account opened on sharebuilder and want to play with $30K in ROTH IRA, but not really confident to buy/sell puts/calls.  I short buy/sell stocks often, but really want to do covered calls, sell puts, etc.  Any simple language to understand this stuff enough to start trading them?

I'd advise against entering in an option trading strategy without good knowledge of financial mathematics, but to sum it up:

Options will give their buyer the opportunity to buy(Call)/sell(Put) a certain stock at a certain price until (american style) a certain date. Some options (European style) can only be exercised on their last day, while others can only be exercised on some pre-determined days (Bermudian style). Most (or all) options you are likely to encounter are american-style.

Call : If you buy a call option, you are buying the right to buy that stock at the option's strike price until the expiration date.

If ABC's stock is at $110 and I hold a call option with a strike price of 100$, I can make a profit of 10$ immediately (Or hold the call and hope the stock's price gets higher before the expiration).

If the price was <=100$ at expiration, the call would expire worthless, as it would give you no advantage.

If you sell a call, it means that someone will have the opportunity to buy a certain stock from you at the strike price if and when they choose to exercise it.

Selling a covered call means that you hold the underlying stock or an option with a lower strike price. You would essentially be selling some upside potential of your stock for some immediate money.

As an example :

I own 100 shares of ABC, currently worth 100$. In my opinion (or investment strategy), I plan the stock to gain 5% over the next 6 months. I could sell 100 calls with a strike price of 105$ for (let's say) 1$ a piece. This would give me 100$ immediately, which I could use to buy more ABC shares or whatever else.

With a covered call strategy, you get to keep any dividends until exercise, the options premium and either the 100 shares (if the option was unexercised) or 100*Strike Price (if the option was exercised). All of this combined can make for a rather interesting income. This reduces the variance of your results, but limits your upside potential. As a result, it may be impossible for you to buy back your initial 100 shares if the stock happens to have gotten a lot higher.

Before actually getting into it, however, I definitely recommend an assessment of your math skills. Are you comfortable with differential equations? Can you master the maths of options pricing? Because if you can't, there are quants on Wall Street who can't wait to have you in the market.

Don't take it lightly. You'd still probably make money, because of the nature of the trade, but may inadvertantly limit you upside potential too much.

Roland of Gilead

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Re: Active investors/Day Traders Thread
« Reply #377 on: August 30, 2014, 04:40:56 PM »
Before actually getting into it, however, I definitely recommend an assessment of your math skills. Are you comfortable with differential equations? Can you master the maths of options pricing? Because if you can't, there are quants on Wall Street who can't wait to have you in the market.

I am not so sure you need diff eq.   I have had 6 courses in calculus in my EE degree and have not really had the need to use that in option trading.   I am up 65% this year, near 30% compounded annually for the past 13 years (yes I know that is nearly a 3000% return over that period...that is a math calculation (1.3^13 - 1) * 100%  )

Just start really small.   Get an optionshouse account because they are offering 150 free trades right now for new accounts.   This way you can buy or sell just 1 option contract for $0 commission and watch it closely.  You would have the advantage of being able to take $20 or $30 profits without worrying about commission charges.   Most of these options will fluctuate that much during a single day.   When I had my 100 free trades I had a blast.  I used all of them and probably made $2500 off of it doing small trades I normally would not have done because commissions would eat up too much.

There are some gotcha's, especially in an IRA.   It will be a cash account so you can't be short stock.  You also have to be careful near expiration, even on call options you have purchased.   The broker will usually auto exercise these options if they are in the money, which you would want done, but if your cash account does not have the money to buy the shares, the margin department will liquidate your position the next trading morning.   Since this is usually over the weekend, you can actually incur a huge loss even though your option was in the money on Friday.

An example:  You had 10 Tesla call options that expire on Friday August 29 at a $265 strike and Tesla closes at $265.50 after trading around $255 all day.   Your broker exercises the options because they are in the money (you have $500 profit based on the closing price vs your strike price) and you get 1000 Tesla shares.   If you didn't have $265,000 in your account though, the margin department will sell the shares Monday morning.   On Sunday it is discovered there is a major recall on model S and the stock gaps down Monday to $190.   Now you have a loss of $75,000.

Something similar to this did happen to a guy with Google options in his IRA but I do not know if policies have been changed such that it cannot happen.  His loss was far greater than his IRA balance or even the amount he could contribute for several years.
« Last Edit: August 30, 2014, 04:43:53 PM by Roland of Gilead »

soccerluvof4

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Re: Active investors/Day Traders Thread
« Reply #378 on: September 02, 2014, 08:20:44 AM »
TBF is got some giddy up this morning.  I see this position growing

soccerluvof4

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Re: Active investors/Day Traders Thread
« Reply #379 on: September 02, 2014, 08:24:47 AM »
This and the growing demand for Lithium should make SQM i winner for potential longer term holders imho but do your own homework. But you do get a nice divy while waiting.

From the Street of Dreams, Part Deux
SEP 2, 2014 | 8:40 AM EDT
Stock quotes in this article: TSLA
Tesla is upgraded at Stifel Nicolaus.

Stifel Nicolaus has upgraded Tesla Motors (TSLA), with a price target of $400 a share:

Stifel upgrades TSLA to Buy from Hold and sets target price at $400. TSLA appears to have carved out a defensible niche in the global market for luxury electric vehicles, and based on our recent tour of the Fremont, CA facility, a sizable head start with respect to production. Firm believes co is likely to further defend its already multi-year branding/production advantage relative to OEM peers chasing luxury EV share, and TSLA's Gigafactory will only augment its implicit battery cost advantage.

Alex239

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Re: Active investors/Day Traders Thread
« Reply #380 on: September 06, 2014, 05:14:40 AM »
I'm really new at this stuff, and I had a couple questions:

Apple's under 95 right now. You guys think it's worth buying?

Second, especially for Roland: I managed to read about Gilead on some site, and bought a bit. Currently, I have 30 shares, and paid an average unit cost of 91.2. They're at 92.8 now. Obviously we're talking pennies here, that's about 3k invested in it, but do you think it's worth buying more? Should I hold out and sell at what, 100?

I have been getting an excellent education on options trading through tastytrade.com (not an employee or shill, just a happy viewer of their free content)

Unfortunately being in Switzerland you won't be able to take part in their dough platform or use the thinkorswim platform BUT i think their series of videos will be a great asset to get a solid undertanding of the whys and hows of Options.

They "sell premium" "define risk" "trade small" and encourage the retail investor to be as good as a pro without paying someone else to manage their investment account.  The definitions will make sense after watching their content for awhile.

smedleyb

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Re: Active investors/Day Traders Thread
« Reply #381 on: September 08, 2014, 02:41:42 PM »
Shorted the market heavily at the close.

The bears are back.

 

soccerluvof4

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Re: Active investors/Day Traders Thread
« Reply #382 on: September 09, 2014, 05:19:57 AM »
One sector I am dipping my toes in are the drillers. Getting very cheap and divy's is good.  But i am DCA in slowly

Roland of Gilead

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Re: Active investors/Day Traders Thread
« Reply #383 on: September 09, 2014, 06:02:02 AM »
One sector I am dipping my toes in are the drillers. Getting very cheap and divy's is good.  But i am DCA in slowly

Specifically Seadrill?   It got downgraded to sell...

Roland of Gilead

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Re: Active investors/Day Traders Thread
« Reply #384 on: September 09, 2014, 07:26:25 PM »
Today I messed around with Endocyte (ECYT), a biotech I have played around with a wee bit in the past.

I had purchased some shares last week for $6.61 (only 3,000) and today it popped to $7.38 so I sold half.   Evidently that wasn't a pop because I went to the bathroom, came back and it was trading at over $8.   It hit a high of $8.40 something but I held the remaining 1500 shares.   Possibly a mistake but I couldn't find much news on the increase and the volume was huge.  I sensed some people had inside info.

It is trading around $8.25 after hours.  I should probably take the rest of my profit and run but....

soccerluvof4

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Re: Active investors/Day Traders Thread
« Reply #385 on: September 10, 2014, 04:24:30 AM »
One sector I am dipping my toes in are the drillers. Getting very cheap and divy's is good.  But i am DCA in slowly

Specifically Seadrill?   It got downgraded to sell...



No , That is not one I bought !


Yesterday I dipped my toes into a basket of Tele's including TEF, Vod, VZ ...etc..

soccerluvof4

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Re: Active investors/Day Traders Thread
« Reply #386 on: September 10, 2014, 08:42:44 AM »
starting to dip my toes into FCX

Roland of Gilead

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Re: Active investors/Day Traders Thread
« Reply #387 on: September 10, 2014, 09:20:38 AM »
starting to dip my toes into FCX

I have had my toes in 500 shares of FCX from $40, down to $29, and back up to $35.  They are starting to get waterlogged but I am holding.  At least it pays a divvy.

Roland of Gilead

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Re: Active investors/Day Traders Thread
« Reply #388 on: September 10, 2014, 10:21:22 AM »
What a ride!  I sold my other 1500 shares of Endocyte today for $8.80.   A lot better price than the $7.38 I got yesterday (which I thought at the time was a decent 3 day return from purchase at $6.61!).

Now watch it go to $20.

Must.  Not.  Check.  Future.  Price.

soccerluvof4

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Re: Active investors/Day Traders Thread
« Reply #389 on: September 11, 2014, 04:55:17 AM »
What a ride!  I sold my other 1500 shares of Endocyte today for $8.80.   A lot better price than the $7.38 I got yesterday (which I thought at the time was a decent 3 day return from purchase at $6.61!).

Now watch it go to $20.

Must.  Not.  Check.  Future.  Price.
starting to dip my toes into FCX

I have had my toes in 500 shares of FCX from $40, down to $29, and back up to $35.  They are starting to get waterlogged but I am holding.  At least it pays a divvy.



buying slow and gives some exposure to gold and like you said nice divy.  Solid company imho. 

smedleyb

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Re: Active investors/Day Traders Thread
« Reply #390 on: September 11, 2014, 11:56:08 AM »
What a ride!  I sold my other 1500 shares of Endocyte today for $8.80.   A lot better price than the $7.38 I got yesterday (which I thought at the time was a decent 3 day return from purchase at $6.61!).

Now watch it go to $20.

Must.  Not.  Check.  Future.  Price.

Nice trade!

 


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Re: Active investors/Day Traders Thread
« Reply #391 on: September 19, 2014, 04:14:06 PM »
For the longest time that I can remember I am 100% out of Equities.  Actually feels kinda good! not sure why! See how long it lasts! but i see myself shorting before going long barring something I just think is to cheap not to own but getting harder and harder to find

You bailed on Monif at $0.77?   Tax loss writeoff?


Yep! think its a year or two away but long term will be good. If it gets back down around .50 I will get back in barring some changes. Loss for now.

Well, MONIF is back around $0.50 since Visa announced they are looking to offload their investment in MONIF and instead compete with it directly. You looking to get back in, soccerluv?

soccerluvof4

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Re: Active investors/Day Traders Thread
« Reply #392 on: September 20, 2014, 05:52:40 AM »
For the longest time that I can remember I am 100% out of Equities.  Actually feels kinda good! not sure why! See how long it lasts! but i see myself shorting before going long barring something I just think is to cheap not to own but getting harder and harder to find

You bailed on Monif at $0.77?   Tax loss writeoff?


Yep! think its a year or two away but long term will be good. If it gets back down around .50 I will get back in barring some changes. Loss for now.

Well, MONIF is back around $0.50 since Visa announced they are looking to offload their investment in MONIF and instead compete with it directly. You looking to get back in, soccerluv?


yes I am based if my research this weekend supports what I am hearing.  Its a total speculative to I expect it to be a wild ride however it has some good things going for it and alot of big buyers and insider buying just again on Friday.  But as of this minute I own none.



I did do some buying this week in AUY, PAAS, ESV, TEF, ABEV, CLF, FCX just to name a few
« Last Edit: September 20, 2014, 05:55:43 AM by soccerluvof4 »

smedleyb

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Re: Active investors/Day Traders Thread
« Reply #393 on: September 24, 2014, 07:57:14 AM »
Still short.

Massive meltdown feels immanent.  Take with grain of salt, however, since I was shorting SPX around 1400 last year before throwing in the towel and choosing to run with the bulls instead.

This time feels different.  Call it a gut intuition.  Long TLT and SDS in size, and will cut and run from SDS should SPX exceed 2020. 

Roland of Gilead

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Re: Active investors/Day Traders Thread
« Reply #394 on: September 24, 2014, 07:41:29 PM »
My gut feeling is the S&P500 is going to 2200 before any major pullback.

I am playing with a couple of bios right now (other than Gilead).  The nice thing about them is they do what they want to do even if the market is surging or crashing.   The DOW can be down 300 points and your bio might be up 65% that day.

smedleyb

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Re: Active investors/Day Traders Thread
« Reply #395 on: September 25, 2014, 11:22:36 AM »
My gut feeling is the S&P500 is going to 2200 before any major pullback.

I am playing with a couple of bios right now (other than Gilead).  The nice thing about them is they do what they want to do even if the market is surging or crashing.   The DOW can be down 300 points and your bio might be up 65% that day.

I rank GILD as one my top 5 longs for the next decade, and I owe it all to you!

(owned it, don't now, but will own it again soon enough).

smedleyb

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Re: Active investors/Day Traders Thread
« Reply #396 on: September 25, 2014, 02:24:15 PM »
Sold SDS and TLT positions at close.


thesinecure

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Re: Active investors/Day Traders Thread
« Reply #397 on: September 25, 2014, 03:35:37 PM »
Sold SDS and TLT positions at close.

you think that long term trend line holds here then?

i closed my SPXU position today as well.

i don't share Roland's enthusiasm for 2200.  i'm expecting some earning struggles for multi-nationals with a lot of overseas business for 3Q and likely some 4Q guidance reductions.  i think 1900 is the more likely scenario in the short run, but then again it's been far too long since a 10% correction.  I realize 1900 is only 5% or so, but there should be MAJOR support around that number.  I just don't know what would juice us higher right now, but I've felt that way for over a year and it's still chugging…until it doesn't.

smedleyb

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Re: Active investors/Day Traders Thread
« Reply #398 on: September 25, 2014, 07:43:28 PM »
Sold SDS and TLT positions at close.

you think that long term trend line holds here then?

i closed my SPXU position today as well.

i don't share Roland's enthusiasm for 2200.  i'm expecting some earning struggles for multi-nationals with a lot of overseas business for 3Q and likely some 4Q guidance reductions.  i think 1900 is the more likely scenario in the short run, but then again it's been far too long since a 10% correction.  I realize 1900 is only 5% or so, but there should be MAJOR support around that number.  I just don't know what would juice us higher right now, but I've felt that way for over a year and it's still chugging…until it doesn't.

Last two times Fed withdrew QE the market tumbled roughly 15-20%.  I feel history will rhyme yet again.






thesinecure

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Re: Active investors/Day Traders Thread
« Reply #399 on: September 26, 2014, 08:28:04 AM »
not sure i understand that reply, i think you're implying that because last time they withdrew the market went down so they won't ultimately withdraw

otherwise, you'd have held those positions

i tend to agree with that line of thinking, although one of these times it won't matter and the market will decline just because it does