Stocks

fxpose · 11-26-2008, 03:35 PM

Ok......so I shorted the S&P 500 (SPY) at just under $89 before market close today. I figured since last Friday the S&P had a good run up of close to 20% so there's bound to be some profit taking any time.
Even if it continues to move positive come Friday my loss will be somewhat minimized since I have a long position of SPY at $80.

Has anyone else been trading or buying up mutual funds under these crazy market conditions?

zmancbr · 11-26-2008, 04:05 PM

Absolutely... I kicked up my contributions to my Roth and might do it again here soon to try and set it at a max limit... it is definitely a buying time...

But I am with you.. I expect to see some profit taking next week since the market is up like 16% in the last week but all of the Economic data is still pretty bad news... so I could see it going back down soon...

11-26-2008, 04:23 PM

I am. There are some good value buys out there.

St. Lou Stu · 11-26-2008, 04:24 PM

Got a buy order in for F when it hits $1.25. :P

Why not?

fxpose · 11-26-2008, 04:35 PM

Quote:

Originally Posted by St. Lou Stu

Got a buy order in for F when it hits $1.25. :P

Why not?

Yeah, I've been watching F as well and am ready to buy.

Heck, they were up 30% today.

St. Lou Stu · 11-26-2008, 04:37 PM

Quote:

Originally Posted by fxpose

Yeah, I've been watching F as well and am ready to buy.

Stay the hell away from GM though! IMHO, of course!

zmancbr · 11-26-2008, 04:39 PM

Quote:

Originally Posted by St. Lou Stu

Stay the hell away from GM though! IMHO, of course!

Nope you are definitely right... if I had to bet on one it would be Ford... GM is not looking pretty... even with $25 billion more cash they don't look good!

St. Lou Stu · 11-26-2008, 04:48 PM

Quote:

Originally Posted by zmancbr

Nope you are definitely right... if I had to bet on one it would be Ford... GM is not looking pretty... even with $25 billion more cash they don't look good!

Especially when GM's target price is $0.00.

floydpink · 11-26-2008, 04:59 PM

I have been buying the hell out of Marriott stocks. The lodging industry is taking a hit right now, but at around 14 bucks a share, it's a steal. A year ago it was 40 and up and will be back in the future.

70% of my 401k contributions are buying Marriott right now.

ucla695 · 11-26-2008, 10:07 PM

Oh how the mighty have fallen. Who would have thought that a lot of the bigcos would be small caps? There are definitely some great buying opps out there. You just have to do some research and, among other things, see how strong the balance sheets are. Can they deal with cash burn and if so, for how long, etc...

MTB996 · 11-26-2008, 10:36 PM

Quote:

Originally Posted by St. Lou Stu

Stay the hell away from GM though! IMHO, of course!

I said that too when I thought about loading up the truck at $2. Could have bought a lot of cigars at todays close if I pulled the trigger...

Of course, lets not forget that hitting #20 on Roulette makes you feel good, but its still gambling. No different in the market these days. Who would have ever thought you could day trade the dow or s&p.... Crazy days.

I think the only real prudent thing to do is load up on high dividend yield stocks with good, solid fundamentals and hold on. Buy some every month and be prepared to hold on for 5+ years. You WILL make money this way. Its not sexy, but the smart folks consider it a marathon, not a sprint when it comes to stocks.

But, being human, I am playing the spiders (SPY) a little just for kicks.

floydpink · 11-27-2008, 02:56 PM

Marriott went up 3 bucks a share since I posted last......

Within a year, it will be at least 30 bucks a share or I will eat a spoonfull of dog crap on live video feed for all to see. How's that?

fxpose · 12-01-2008, 12:37 PM

I don't know which way this crazy market can head so I got out of the short position and covered myself a short while ago.

cvm4 · 12-01-2008, 01:21 PM

Quote:

Originally Posted by zmancbr

But I am with you.. I expect to see some profit taking next week since the market is up like 16% in the last week but all of the Economic data is still pretty bad news... so I could see it going back down soon...

You also have to remember that the market is forward looking. It's been priced in to the max, IMHO.

MadAl · 12-01-2008, 02:59 PM

I don't get it, it's announced an recession started in 12/07 and the market goes to hell. Who didn't know that?

12-01-2008, 05:12 PM

I do what little I can, I'm not too shabby at it either

cvm4 · 12-01-2008, 07:24 PM

Quote:

Originally Posted by MadAl

I don't get it, it's announced an recession started in 12/07 and the market goes to hell. Who didn't know that?

LOL, I thought it was because Bernanke and Paulson spoke back-to-back today. That's usually a given 500+ point drop.

acarr · 12-01-2008, 09:31 PM

Quote:

Originally Posted by floydpink

Marriott went up 3 bucks a share since I posted last......

Within a year, it will be at least 30 bucks a share or I will eat a spoonfull of dog crap on live video feed for all to see. How's that?

I sure hope you are right

fxpose · 12-01-2008, 10:09 PM

Quote:

Originally Posted by floydpink

I have been buying the hell out of Marriott stocks. The lodging industry is taking a hit right now, but at around 14 bucks a share, it's a steal. A year ago it was 40 and up and will be back in the future.

70% of my 401k contributions are buying Marriott right now.

70% in one stock. I must assume you work for the company.

ucla695 · 12-02-2008, 05:44 PM

Quote:

Originally Posted by fxpose

70% in one stock. I must assume you work for the company.

He must...it's gotta be part of an Employee Purchase Plan.

11-26-2008, 03:35 PM	#1
fxpose Park Drive Smokehouse Join Date: Oct 2008 Location: Los Angeles Posts: 337 Trading: (0)	Stocks Ok......so I shorted the S&P 500 (SPY) at just under $89 before market close today. I figured since last Friday the S&P had a good run up of close to 20% so there's bound to be some profit taking any time. Even if it continues to move positive come Friday my loss will be somewhat minimized since I have a long position of SPY at $80. Has anyone else been trading or buying up mutual funds under these crazy market conditions?

11-26-2008, 04:23 PM	#3
silentjon Guest Posts: n/a	Re: Stocks I am. There are some good value buys out there.

11-26-2008, 04:24 PM	#4
St. Lou Stu Have My Own Room Join Date: Oct 2008 First Name: Tim Location: Belleville, IL (St. Louis) Posts: 2,304 Trading: (21)	Re: Stocks Got a buy order in for F when it hits $1.25. :P Why not? __________________ Pretending to play golf since 1989

11-26-2008, 04:59 PM	#9
floydpink crazy diamond Join Date: Oct 2008 First Name: Pete Location: Orlando Posts: 1,955 Trading: (17)	Re: Stocks I have been buying the hell out of Marriott stocks. The lodging industry is taking a hit right now, but at around 14 bucks a share, it's a steal. A year ago it was 40 and up and will be back in the future. 70% of my 401k contributions are buying Marriott right now. __________________ "If we weren't all crazy we would go insane"

11-26-2008, 10:07 PM	#10
ucla695 Neither here, nor there Join Date: Oct 2008 Location: The Pool Posts: 3,696 Trading: (5)	Re: Stocks Oh how the mighty have fallen. Who would have thought that a lot of the bigcos would be small caps? There are definitely some great buying opps out there. You just have to do some research and, among other things, see how strong the balance sheets are. Can they deal with cash burn and if so, for how long, etc...

11-26-2008, 04:05 PM	#2
zmancbr CERTIFIED THREAD KILLER!! Join Date: Oct 2008 First Name: Zach Location: Color Red Posts: 1,692 Trading: (41)	Re: Stocks Absolutely... I kicked up my contributions to my Roth and might do it again here soon to try and set it at a max limit... it is definitely a buying time... But I am with you.. I expect to see some profit taking next week since the market is up like 16% in the last week but all of the Economic data is still pretty bad news... so I could see it going back down soon...

11-27-2008, 02:56 PM	#12
floydpink crazy diamond Join Date: Oct 2008 First Name: Pete Location: Orlando Posts: 1,955 Trading: (17)	Re: Stocks Marriott went up 3 bucks a share since I posted last...... Within a year, it will be at least 30 bucks a share or I will eat a spoonfull of dog crap on live video feed for all to see. How's that? __________________ "If we weren't all crazy we would go insane"

12-01-2008, 12:37 PM	#13
fxpose Park Drive Smokehouse Join Date: Oct 2008 Location: Los Angeles Posts: 337 Trading: (0)	Re: Stocks I don't know which way this crazy market can head so I got out of the short position and covered myself a short while ago.

12-01-2008, 02:59 PM	#15
MadAl Adjusting to the Life Join Date: Nov 2008 Location: 5 miles from Fenway Posts: 268 Trading: (0)	Re: Stocks I don't get it, it's announced an recession started in 12/07 and the market goes to hell. Who didn't know that?

12-01-2008, 05:12 PM	#16
Ace$nyper Guest Posts: n/a	Re: Stocks I do what little I can, I'm not too shabby at it either