OH YEA! SOLF IS MONEY IN THE BANK!! I hope yall got in on some yesterday! I rode this badboy down from 28 to 23. Done deal! It could probably go lower, but I am folding.
MXC - TALK ABOUT BUBBLE BURSTING! CALLED IT! FUN'S OVER! SUCKA IS TANKING MAD TODAY DOWN 23%. I am going to trade aggressively today on MXC and PDO
It's been a very exciting first hour. We are getting a small oversold bounce today. BUT DON'T TRUST IT. You have to be ready to expect after the massive move we've made up the past 2 months that we will see more selling pressure. Stay sharp!
-DL
Disclosure
Long GOOG, 75%V
Short MXC, PDO, USO
UPDATE 1:
I'm done trading today. Covered all of my MXC and PDO shorts. I need a breather my adrealine is kicking hard. For those that say stock trading is not a good thing, or for those people out there that don't follow the investment world - I wonder how they would feel knowing we can make their monthly salary in mere hours :)
Charts tell the truth. I am a true believer, and so should you!
And by the way, keep an eye out for Visa. Let's see if we can pick it back up in the near future for 75
Disclosure
Long GOOG, 75% V
Short USO
UPDATE 2:
Keep an eye out on PWRD. I am setting up a buy order @ 25 for a 50% position. The sell volume is starting to diminish. We could see it sell off by the end of the day on light volume but if it touches 25 it could have a nice reversal bounce. I think it has been killed enough at this point.
UPDATE 3:
PWRD order filled @ 25. Closed today at 24.95 I am feeling good about this buy. If it tanks more tomorrow I will continue to build position. Let's see if it'll hit 24.5 tomorrow.
MXC and PDO .... MURDER SHE WROTE. That's all I have to say about those...
SOLF got killed bigtime today. Almost 3 bucks below my cover point. Wow. Oh well, I made my profit, I am content. If the stock breaks below 20, watch for it to pull back to its 200DMA near the 17~ level. I would probably be a buyer of the stock again at that point. And how bout them goldman sachs analyst...telling people to sell but never told anyone to buy when the stock was way down. They are so late to the party :)
USO coming down some. Encouraging indeed.
Today was one of my biggest % gain YTD. I am very happy and content. I probably will do less aggressive day trading now though for the time being. Don't want to be stupid and give all my gains back. Watch for the markets to potentially continue to tread up on light volume due to upcoming memorial day weekend. But remember, if you want to play the little bounces, be sure to USE STOPS! I can't emphasize it enough. Unless you want to be investing in the long haul (like how I do with Google and Visa), don't be overly bullish and buy stocks hand over fists right now. It could be very painful.
On the run again today. I will be back later to post tonight. Have a good one.
-DL
Disclosure:
Long GOOG, 75%V, 50% PWRD
Short USO
17 comments:
Let's talk ENER its due for a correction and I do not believe that yesterday and this mornings drop is it.
Take profits or wait until it sees sub 50?
don't understand why Ameritrade does not allow me to short MXC and PDO
Hey guys,
About shorting, does anybody here is from Europe and could recommend an online broker that allows those operations.
What are you supposed to do when you know the stock is going to tank but you can't short the stock, just watch it ?
As always, great insight X, let's call it the X ray vision of the markets ;)
M.
xxyy,
ya depending on your brokerage, sometimes they don't allow shorting of certain stocks. It's either they have a certain requirement to short those equities or they just don't have the shares. It is the same with me on ENER. I cannot short those through my brokerages.
anoymous,
I think you could probably see 50 on ENER. Once the sell pressure kicks in it's going to fall like dominoes
maiike,
Wish I could help you on that. But I'm not familiar with trading rules in europe. But ya you definitely want to find out. It sucks to be benched on the sidelines watching the moves you know that are coming!
Thanks for replying. I contacted Ameritrade, they said they have no restriction on MXC and PDO, they simply does not have shares available. It's really strange.
I am waiting for V to reach low 70s.
Good calls, xman.
Do you know if the Nasdaq Level II quotes are specific for checking only nasdaq quotes? or is it for all trading exchanges (NYSE, as well, etc).
X, do you believe that V will pullback for 75? I was waiting to buy it under 60 and told myself if it doesn't I'll buy at 65.
I was thinking to myself that oil should see a pullback after 135, surprised at how far down it got. I think part of today's declines had to do with the dollar strengthening today.
I was fooling around and set a cover limit (it was above 38 at the time) with 70% on LEH at 37.8 and it got covered and I'm a little upset, have you been in that situation and how do you deal with it?
Mr jeanius,
I know exactly how you feel if its any comfort I covered my solf position (1000 shares) at 23 and as we know now it subsequently went close to 20. Missing out on nearly 3k in a few hours blow! But the way I see it, I'm 5k richer than I was yesterday. And I can't ask for any better.
There's no sin in taking profits. And hey, if you feel there's still potential, you can always put your position on again.
Live to fight another day my friend. The opportunites are endless.
and yes, I do believe we will see visa below 75 in the near future. The MA support looks to be at about 73~. I am paying very close attention to it so I can buy back those shares I sold
So you have a positive outlook on V then right ? I'm also looking to buy a bit more. I got a few shares at 66...
From a tech perspective, I think V can be played because of the hype surrounding it. Fundamentally I still dont get the V....to me both of those companies will perform the same in terms of growth unless someone can say V will be more dominant in 5 years.
V has 6.5x the shares outstanding as MA, and MA is at $275, then why wouldn't V be worth around $50? At the current prices, you're saying that V actually has 2x the market cap of MA and that isn't true...look in your wallet, it's probably 1:1. Either V is way overbought, or if it's justified at this price then MA is waaaaaaay undervalued.
Lots of investors still go "well MA was at 90 and now 270...so that means V will do the same!" but that isn't true since it has 6x the outstanding shares.
Very Good Post from all!
I am still short SOLF. Will watch closely tomorrow. You are so right about using stops to keep you from going the long haul. I for sure have learned that way also. I will do as you say XMAN and get out in the AM, then catch again after its bounce. Did very well today on it. Would of never know about it except from here.
Looking to get into USO or PWRD tomorrow. Maybe both.
But which one do you think has the most daytrade punch going for it until the end of day Friday? I plan on being out of all by end of day tomorrow.
haghibaby,
sorry I didn't see your post from earlier. My level II ticker includes trades from EVERY SINGLE trading exchange. Nasdaq is just one out many.
monkies,
You have a very logical and thought out opinion of Visa. I respect that.
I will have to think over what you said and do some research. In the meantime then, I will continue to watch Visa and see where it goes.
bassman,
IF you want to talk volatility (in terms of percentage moves), I think PWRD has the bigger swings. the USO is an ETF so it is less volatile (but by no means are the moves not big).
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