First of all, uncivilized people who can only shout and scream don't comment my message.
My average cost is $23 on XHB. Loss on XHB is 15%. With that, my total fund gain for the year is 20% because I doubled my money in China. Now I still have 80% cash.
This is the only value stock I can see. Pay close attention to their balance sheet. FXI, GOOG, XLF and others are pretty high righ now.
Will take a few week vacation in Asia in the coming weeks.
well, if wanger was "even" three days ago he's back under water now. i wonder how much he's paid in transaction fees playing catch up? and here i thought the objective of investing was to MAKE money! quite the uh, investment strategy that guy has. oh well, hopefully the wanger will bequeath his position to loved ones, and perhaps THEY'LL make money a few years down the road!
Thanks for those who share the same view of mine. I have put uncivilized dala lamar to ignore list (first time ever in my life), now to me his message is dead in the water.
Back to the issue, in the past two weeks I bought thousands shares at $17. I sold 60 DEC put contract at 15, 16, 17. I sold lots of Jan convered calls at 25. Now, I break even on XHB thanks to a combination of selling puts and covered calls, buying at dips and short term trade.
Noone really knows what's going to happen next to XHB. But, looks like many bought XHB when that hit 17. Any way, the lower XHB goes, the better price it gets to buy more. The higher XHB goes, we longs make money.
p.s. regarding those who "share the same view" as you....
who would that be? i don't recall seeing anybody readily admitting they subscribe to the "buy high and continue to throw more good money after bad" club....
there there, wanger. don't be angry. congratulations on having to work yer ASS off just to break even. that's always the sign of a savvy investor. i, on the other hand, made 20% in a week and a half and can STILL get in without having to do cartwheels or risk the opportunity cost of money.....
speaking of dead in the water, how are those shares at $32 doin'?
I took a big position on Wed at 17.99. Looks like an awesome deal and as Buffet often points, BUY ONLY WHEN NO ONE WANTS! XHB may NOT have bottomed yet or maybe it has, who knows, but one thing is for certain - it will certainly go higher once the sector becomes favorable again.
After all, every dog has its day and when the short interest is sky high as it is for XHB, it can only go up as fast it came down ;) As simple as that!
Buy when no one else wants it. 100% correct. The more short you are, the more wrong you'll be. Any smart trade would have a trailing stop on that short position. That being said, when rates are cut in December this thing will have a 30% pop in no time at all. I just went long after playing it from the short side. All home builders will not go broke. You'll see the start of the rally in these things when consolidation occurs. We're not far from that right now. Wait and see. I'm RARELY wrong. You may be lucky if you're still short. This may be one of those rare times.
you can see you must be blind. If by "smart money" you mean unsophisticated impulse buyers who jump at every dead cat bounce (Wanger..you do know what that is don't you???) then yes..those in the know, like you are buying. Everyone else, who actually has some idea what investing is about, is simply watching the rock fall off the mountaintop..where it makes yet another..boing..boing..boing coming down on wangman's noggin.
who in the F@%$ are you retards doing bashing this message board? do you really have that much time on your hands? shouldnt you be reasearching something else??? it makes me sick reading you guys bash away on someones beliefs. why dont you shorties go to penny stock message boards where you belong!! grow up dali_lamo!!!!
if "smart" money's coming in than that must mean yer staying on the sidelines....
and stop being such a sensitive little ninny, wangless, and answer the questions from my previous posts, especially the one regarding yer, ahem, cost basis of $23....