Actually, they're mostly employed by HFs--at least the paid ones are. Something I should know, because I was 'one' of them in the past. The rest are mostly lame, self-loathing, +40 year-old virgins still living at home with their mommies and paying the rent with her Social Security checks.
The game plan is simple, scare as many weak longs as possible into selling so their employers (the HFs) can scoop in and buy up all those discounted shares prior to the FDA announcement. And trust me--they already know what the announcement will say, or why else would they be here spewing their lies and BS 24/7 without sleep if that wasn't the case? Because common sense dictates that if 'they' were so confident in their belief that Byetta will get rejected those same bashers (at least those with a mental capacity above room temperature) wouldn't need to bash, but rather sit back and wait for the FDA to do their dirty work for them.
Nevertheless, a word of caution if I may, or should I say, a wake up call. Because many of these same bashers here think they can spew their lies & BS on these boards while staying anonymous. Something I to erroneous thought in the past until we got busted back in 2008. In fact, I was recently told that my firm’s legal fees to date are running somewhere north of 260Gs… Something the firm can afford obviously, but definitely not something these self-loathing and miserable pikers could ever hope their mommy’s Social Security check would even begin to cover. And that friends is the ‘real’ tragedy here if you ask me.
FSLR...please don't remind me. After my recent winning AMZN trade I thought I was a frig'n genius... So, like any other a-s-s I piled into FSLR prior to earnings... Bought a sh_tload of the 160s calls, which of course ended up being a BIG f_cking mistake on my part. Because as you already know FSLR tanked after earnings. And unfortunately so did my calls... I would tell you how much I lost on that trade but I'd rather save that for Halloween... Trust me on this, it was a pretty scary amount.
Did that already... Loaded up on the 125s less then 20 minutes ago. Might add to it if it moves under 121 by the close.
Thanks BigD, though I'm still kicking myself in the arse for not buying yesterday ahead of earnings as I had originally intended... Instead I let my depressing FSLR trade cloud my better judgment. So, I waited for today's profit-taking to kick in and then loaded up...
However, the depressing fact still remains... If I made the same trade 24 hours earlier I would be looking at a gain roughly 8x what I managed to squeeze out today.
The fact is my timing really sucks these days. Must be all those painkillers I've been taking recently.
Hoping to recoop more of my recent loses from my FSLR trade.
Will close flat to slightly down today if markets don't sell off further from here... Also expect a run over 230 on Monday prior to their earnings announcement and into the 250 - 260 range if they beat.
FSLR & BIDU seem to want to bounce from here... Are you playing either today?
Also, used today's weakness to pick up some more MA ahead of earnings next week, I just hope that doesn't blow up in my face as well.
Thanks Elvis, my target for tomorrow is somewhere around the 38 range... That's if the market doesn't trip up that is. But we'll see.
LOL. Ahhhaa leave Creamer alone... Remember "HE KNOWS NOTHING!!!"
I've been long CLF for months now, bought into that in the high teens (see my earlier posts if you don't believe me)... Along with some FCX & TCK at the time... In fact, I started buying TCK between the 7 to 8 range... However, CLF has been pissing me off a bit lately when it couldn't break above 40... Which means if it does after earnings, I'll be trimming my position by 1/2.
The EPS was $2.13 last year and the average estimate is -.07c for this 3Q
I'm pretty sure they can do some manipulation and destroy that number tonight. What's your take?
Sorry Ponz, didn't mean to come across so pessemistic... The truth is I was betting we would see better action from CME today... Any way, that and the beating I took on FSLR recently has sucked most of my optimism today... But I'll get over it, I always do.
"Roller coaster" is an understatement Ponz... Still I just don't have any confidence in today's move...sorry. Call it intuition or plain old paranoia if you will, but I wouldn't be surprised if we end up retesting recent lows in the next few days... And that's why I'm using today's market rally to buy some downside insurance in the form of puts.