I predicted the nov 19 to 20 dip perfectly but couldnt capitalize on it since my broker barred me from margin and options due to my losses in the millions in the last several years giving me bad credit allowing to do stock cash only transactions - not sure since - the message was barred from online trading.
and I needed that miracle 2 day drop to save my house and not end up on the streets in another 6 months when I run out of cash.
without the ability to do options - I will be poor the rest of my life unless I find a penny stock that becomes the next microsoft, google or DNA - very depressing - all my options are gone.
anyone know any penny stocks that will like a lotto - or maybe I should just barr myself from stock boards and get my life back -even a poor one left at that.
BHP dismisses reports ore venture is in trouble By Peter Smith in Sydney Published: November 26 2009 08:27 | Last updated: November 26 2009 08:27
BHP Billiton on Thursday brushed aside reports its proposed US$116bn Western Australian iron ore joint venture with Rio Tinto was in difficulty only weeks ahead of a deadline for the mining groups to conclude a “definitive agreement”. However, he cautioned that he expected BHP to emerge from the downturn “less strongly than in previous cycles”. Those comments came as BHP entered late-stage talks to sell its Ravensthorpe nickel operation in Western Australia, which it mothballed this year leading to the loss of close to 2,000 jobs. Ravensthorpe, which cost US$2.1bn to build, hit trouble late last year after nickel prices collapsed. BHP has written down the investment to nil and reports have suggested it wants a sale price of about A$500m
I don't know (and don't want to know the specifics) of how you could lose so much.
I was just looking at my various portfolios and noticed that I'm actually ahead of where I was in April 2006 (and that includes owning those two Dogs of the Dow: AA and GE). Luckily I was diversified enough to come out ahead.
I've found the smart thing to do is to sell covered calls (and if it is a div paying stock, you get the divs in the time frame). I made money on MSFT (sold recently at 29), sold a Jan 85 call on BHP recently, bought it back when it fell, and re-sold it today. I sold 110 Jan 11 calls on FCX and got 9.60 day before yesterday. I think metals will break and correct soon but I'm not selling. My BHP cost is 35, FCX is 47 and AA is 23 and GE is 24. Long term, I think BHP can get to and sustain 90-95 and FCX can get to 100-105.
You can make about 4-5k every month selling covered calls depending on the number of shares you hold.