Nah. But he's a round peg CNBC puts into a square hole. Basically he's an aggressive trader type trying to give investment advice to a larger layman community. It ain't necessarily a good fit....
Eggs. Like the analogy. DRYS I have a longer term basket with a lower basis, but do tend to play the 10penny trading with them, too. 2014 should be an interesting year for them. BAC I do much the same....I think they and the sector will do okay in 2014. But BAC has some major boat-anchors to overcome before they go anywhere pps-wise. The market keeps hoisting them withi their own petards.....so to speak. The NY Times today has a good piece on the banking sector and the over-arching global view of them....can't say I disagree with the expressed sentiments. Truly bankers and their ilk are much reviled these days. The market expresses this.
Codi: I have 20% of my basket stopped at a point in the low $22 area, which almost got taken before the bounce. Be it trading or investing longer term I operation from an "average in, average out" philosophy. Going into earnings I don't have a clue how the bid will be played. But if you blow out to a 20 day chart you could be forgiven for viewing the last couple of sessions as p/b on consolidation. Springing from here is based on (your) belief that what is known is actually true to a relevant extent. If it is then I'd say the bid will move upwards the closer earnings get. Earnings validating known presumptions should push the bid higher still.....but this is naked prognostication and we know how 'ol Lucy loves to mess with such...
Bid firm (so far) and pushing $23 at $22.98.
Also, note the .60 line over the last few sessions is showing as strong resistance....so in deference to that line I just closed by open trades and will wait to see if I can re-enter lower....else will go back in on a volume driven break-thru of that line. For now...I'm standing pat. (Note I trade around a long term basket of DRYS with a lower basis).
Ah! It explains my #$%$ when I just looked at the last trade, which is at the .60 line. Hmmm....nice....let's see how much follow-thru remains.
Yah....I went long at ~.70 off what looked to be a bounce set-up. So far, so good, with the bid at.91. I'll either close the trade just south of .90 or look to see if a test of $23 is in the cards. Might add to the trade if it can get on top of that line with any sort of strength...
I think I mentioned the other day the uptrend line starting at $17.61 back on Nov 7 that I'd drawn and been monitoring? Yesterday the bid was attracted to it, and proceeded to bounce twice off it. Today at session open the market marched the bid straight to it from .94 (it sits right now at ~$22.68 and at close will be sitting at ~$22.88). The bid now bounced off it and sits at .76. To me that's a clear set-up line for going long...or going short should it break down below it on volume. Bid/Ask action still chaotic, though....bid now .69. No, .68. Sell side still showing the strength overall by showing large on the ask and continually attacking the bid.
Looks like another day of nuttiness. Best to turn the machines off or direct attention elsewhere..
Maaaybe...I'm more interested in see some stability in the bid/ask dynamic. The last couple of sessions have been decidely......nutty... Bid $22.91.
Fuuuunky trading in the final 30....bid at .56...this thing might close flat. The buy side keeps being sucked in by an ask that looks to start to fade then suddenly, WHAM! The bid gets blitzed and falls back. Support of the bid has been fragile like that all day long.. Bid now .55
Unclear here in the final 30. Interestingly enough it's hugging an uptrend line I've been watching for a time. That line originates at $17.61 from Nov 6 and sits at close today at juuuuuust about....$22.68. So....IF it continues to hug I'd say the bid closes out at ~$22.68. But right now the bid just slipped to .63 and the ask is showing large, though the intraday stoch's are showing oversold....let's see what the market does into close....bid just slipped to .61
Not sure about that $20 but I'm right there rowing with you in the same boat. But mines just a trade. Average cost on my longer term basket is a bit lower though. ;-) Bid now $15.31.
Ain't they the same folk who didn't see the 2008 debacle comin' and were crowing that everything was going to the moon? So you trust 'em now? HEH!
Wow! Sell sell SELL!?! ;-) Basically it's trading sideways....which considering the overall market today (down over 120pts at this writing) ain't bad
Yah....meanwhile it looks like the Ask side has drawn a "here but no further" line in the sand at $3.52 while the bid has drawn an equal one in the sand at .47 (which is where the bid now sits). Looks like that's the bounds within which DRYS most likely will play for the remainder of the day? Let' see how it goes since the bid is taking some heavy hitting right now...
f40: I'd rest on the profits. I shuttered my earlier ~.48 get on the bounce to .65 just to watch it get taken right back to ~.47...all in about an eyeblinks time. Bid now at .54 an eyeblink later. It's all over the place. As Art posted, it's hard if not impossible to trade this thing right now, from either perspective....it's just too damn chaotic....I'd love to know what's driving it in such fashion....but guesses is all I's gots......meanwhile...think I'll take a break, too.
I can fly rated to Cessna Citation class (been flying since I was 17 - easy enough since I'm the son of a US Air Force parent - yeah - military brat, heh!). Errrr....don't own one, or any for that matter. Can't justify the cost. I am a member in a flying club, though. But as fun as those Citations can be I get the best kick from the small "fly by the seat of your pants" models. It's the same way I feel about motorcycles (own a Ducati)....there's just something about the "immersion factor" of controlling such vehicles that I find exhilarating. Wind in your hair and smells in the air stuff. Kind'a sort'a. Yes I am addicted to speed...not to be confused with...cough, cough...other kind's of stuff....