Sell when it gets back to around 110. Like I said before don't get greedy. The downside risk is much higher then the upside reward. Do not hold it until after the bell. New has to be very, very, very good to see a big pop after hours. I say VMW does an AMZN and EBAY. Good/great earnings but the stock drops like a rock.
Good luck short and longs.
Whew...it's green again but I'm still down quite a bit...still thinking positive.
Hey everyone, if this turns out well today, maybe you can all turn to me for positive thinking whenever you might be in a tight spot?
Another advice is that you should not panic. I understand how bad do you feel seeing that you are loosing money. But sometimes you have to learn how to control your emotions and be patient. This is particularly true in the stock market. Good luck.
Yeah, I can control my emotions in regards to this and the money, but I do have my limits. One of my problems right now is that in order to be able to hold VMW longer than today I would need to close out my full position in another stock that I don't want to close out. It all comes down to a choice and I only have two. Take my losses here and hold onto my other stock, or, take my profits in my other stock and cross my fingers here.
If earnings are bad or there is a sell off for whatever reason, I will lose the profits from the other stock and then still take a loss here.
I guess I really just want VMW to pull through. Everyone think positive! Ugh...so hard to do though.........
I'd say cut your loses but not at this level. Wait until the stock pops before closing today. This may require to to guess the peak. However, I don't think it will hit 110.50 before closing. Earlier this morning I posted saying that it will hit 115. That is only if the market turns around. If not it should stay under 110 before close. I say if you have some more money buy in around 103 then wait for the pop and sell around 107. If it makes it there. Hey good luck. I bought this morning at 3k @105.97 held it to 111 and then finally sold at 108.50. Greed took over but I was still lucky enough to get a couple buck out of it.
I also boought in 3k at 103.85. Hopefully, we make it back up a bit before the close.
Good luck. To all the shorts and longs!
In long term (in terms of Years not days/months), buying in at this price will not be regrettable for you. In fact, it would be great buy in the long term (as I specified above).
If short term play is what you were looking for which seem to be the case here since you are worrying about the losses now, then if I were you, would cut my loss and sell.
Then, buy 2 contracts of $140 call for Jan 08, which will cost you just over a $1000, then, buy 5 contracts of $60 put for Jan 08 which will cost you $270. Most likely, $60 put contract will expire worthless, but your downside there is small. However, IF the stock disappoints tomorrow, then you may be able to sell it at a decent enough profits to off set your $1000 investment in call. Also, if they have blow out quarter, then forget the $270 hedge, and ride it up on 2 calls, you should EASILY triple your investment in a short term.
I don't have the ability to trade options on my account, and I'm not sure I would just do something that I have zero experience doing. As poorly as I'm doing right now, I have been doing very well this year but this is sucking away all my profits dammit.
I figured out what I need to do. As much as I don't want to, I can sell one of my other positions which will bring me to a point that I can hold VMW for a little while...but not if it drops to like, 90. That's too much money that I am not willing to lose.
I guess it all depends on the earnings and if the stock jumps or falls because of them. Shit. I don't like being in this position.
It all depends on your time horizon. VMW will be OK in the long term not matter what the earnings will be today. However, if you want to play in the short term you could sell half of your shares. In this way if earnings are good you are not going to miss the run and can buy more shares after the earnings release. If earnings are bad you can keep half of the shares that you bought and wait until better times. That is exactly what I am doing today. Good luck to you.
Just spoke to etrade, they said I can sell during after hours market. So...what should I do? Getting nervous. I'm down $5500 right now and don't want it to go much lower. Should I hold for the after hours and hope for the pop, or should I just bail? Shit.
codas, ignore people like marketmeltdown. While many on the board offer good advice, best to call your online co. to find out about selling intraday margin after hours...you might find you're walloped with a fed call which would not be cool and then you would be restricted...not sure of the rules myself, so best to get the answer straight from the horse's mouth - oh, and BTW, make sure you ask at least 2 different reps. Good luck.