Sure looks like it is a possibility, doesn't it?
I mean why would Ken Lewis resign the way he did last year. I think there's a big chance that BAC will eat it with the next downturn.
thanks for the movie suggestion, I put it on my to watch list. Here's an article you might enjoy
It highlights how the smaller companies go BK while the bigger ones can keep the scam alive
why would you play options that far out, have a taste for eating the time premium? Of course there is a big bid/ask spread, it's August options on a symbol that has low volume. In most cases with low volume there is no human element in the equation, you are bidding against two computers, one that wants "calculated value" minus X% on the bid side while the other computers wants "calculated value" + Y%. If you play against computers like that you better are fast and watch the changes in bid/ask size. I'd never play options that far out and/or in the money like that.
as much as this might look like a good entry point to go long and short the market, strategy of the Fed has been to throw money at the market exactly when it hurts shorts the most. I don't know how many here remember the TWO consecutive 5% down day Hang Seng had with US futures down as much as 300 overnight only to have the market rally the following day. Or the 15 consecutive positive days of NASDAQ only to see it rally for another 12 or so. Complete non-sense but when you throw trillions at the market and change accounting rules to get rid of mark-to-market that's what you get, unfortunately.
Anybody be careful going long QID at this point. Entry point might sound good but I rather take on a put position on certain stocks than go short. The down side is limited and the upside is greater that way.
I bought $10 puts today for QID. It looks like AAPL might be a good short for a pull back but all you need is a squeeze on the shorts in the morning combined with GOOG exceptional earnings plus a squeeze on the shorts there, or AAPL announcement for a strategy to use their cash or a split, etc. etc. and QID could *easily* drop another dollar in the process.
"In my 11 years of trading and not losing a dime for 3 straight years on any stock, this is total BS. I know how to trade but not in this type of rigged one-way market and always against reality."
I don't disagree with you on your assessment of the rigged market. But that's what happens when we have a market fueled by more debt, more market interference, and Enron accounting that allows banks to not foreclose so that they can cook their books to make everything look great. As a result, you have non-paying homeowners buy gadgets that they "want" and shouldn't have. Nice to have additional spending money when you can opt to not pay your mortgage and not get foreclosed.
I felt your pain before and adapted to the market. This morning I went long with AAPL calls right at the bottom as I expected 325 to be support and had a quick 300%+ return. I took the cash of the table and then bought some QID Puts for $10 strike price for this week. But key is to do short term trades and adapt to the market.
Hang in there.
First you should have never bought 310 calls.
Second you shouldn't hold options into a three day weekend.
Third, don't freak out. You will probably take 40-60% cut on those options in the morning and I would take my loss and buy instantly out of the money calls with it for a day trade.
Why risk your cash with options that are so much in the money? Upside is not as lucrative as out of the money options and downside is just as risky. Further, as an options trader I would never, NEVER, hold them into a three day weekend as too much time premium is beaten out.
You should have waited until closer to earnings, this way you are not taking the beating on the time-premium for your options. Especially with the upcoming 3 day weekend it is stupid to just buy them on the 11th and end up holding them for so long. Just my 2cts.
without a change in business strategy Schiff will continue to ride its profit down into the ground. They need to have more private brands that they own, produce, market and sell on their own. That's where the real profit margin is at. Failing to do so will eventually evaporate most of their current profits as one cannot indefinitely rely on the same profit streams. Now is the time for a small company or product brand acquisition that will allow them to capitalize on in the future. Either that or the most recent quarter is an indication of where this company will be headed.
This should not come as a surprise as the past 4 conference calls and financial reports directly hinted at this taking place. It will be interesting how the management and board reacts to this new reality.
I'm talking relative to all time high vs. other stocks. MA is in that regards undervalued but overall, I think MA is ready for a healthy pull back. Just my opinion and I would take profits here without hoping for more. At least at this time as a pull back to 198-205 is very much possible.
oh yeah moron, and stocks only go after fundamentals. How often were bad housing stats reported and URE went higher? How often do stocks sell off after positive earnings and forecasts? If you think that this hasn't already been priced in then go ahead and keep your money on the table. If you think a move to debit is something new keep drinking your kool aid. Fact is that MA has received more pressure over the past two years from V when they lost Wamu through the Chase takeover and other banking consolidations could further hurt their exposure in the debit sector.
If you really think that stocks don't price anything into them then why is MA up less than the general markets and why up only 1% after all that great news?
yes, tell us why because this looks like it will retest the 200 price level again. I don't doubt that MA should be higher than it is relative to the other equities but technically this looks overbought and today was a great time to get out or accumulate a short position IMO. It was brought up with the market but it doesn't look like it lasts.
I think AXP gave us a sneak preview of the correction that will be coming to MA and V, although we will correct slower IMO. And I know about the settlements but it looks to me that we will retest the 198-205 prices.
Just my opinion, do your own dd.
good timing but you'd do better to invest your money elsewhere by playing the same plays instead of using the MERKX fund. First you can only exit at end of day and you will have to guess pricing as you do not know the underlying holdings as they change from time to time and second, this fund is grossly mismanaged when it comes to maximizing the return. Look, it's only in the low 12s when it was there a couple years ago. Meanwhile the CHF is strong as ever, CAND$ is strong near recent highs as well and gold is 20-30% higher than last time when MERKX was around 12.50.
I honestly wonder what kind of returns the merkx fund is truly getting and how much they pass on to the shareholders. Something just doesn't add up here and I'm glad I took all the money out a while back.
You are dead wrong, about as wrong as James Keyes was by keeping all the blockbuster stores open.
They didn't put in enough effort to make their mail program work as customers perceived blockbuster to be a movie rental STORE. You'd be about as wrong counting blockbuster out of the equation as msft was with apple, or GM, or any of the airlines, etc. You cannot count name recognition out of the equation. People don't remember bad service. Americans are stupid. They remember brands. Americans in general are stupid and they don't remember anything, the stock market and the US consumer spending should be an indication of their low capacity memory. I don't like to insult anybody but if you take a rational look at things you'd agree.