Bought a little more ESV this morning at 52, still holding my NE but haven't added or sold any yet, as you said a few days ago, the bottom seems to be in. This board has sure become infected with krap lately. Oh well, thats what the ignore button is for. Good luck to all.
Could be a bottom but I also wouldn't be surprised to see it dip below 30 if the overall market breaks down. Hope your right Chute and we at least get a bounce here like ESV did. Thanks for sharing your thoughts by the way, they are always appreciated. You, Petro, Turbo, Pismire and a few others really contribute a lot of great view points and data that I find interesting to read.
I say down maybe 10 or 15 cents to open tomorrow, then a little rally then a drop to retest the 4.10 area and take out some stops, then we rally at the end of the day to around 4.50. I was watching the trading of both Freddy and Fannie today and as Fannie hit 5 there were tons of sell orders sitting there, the buyers did some buying at 5 but eventually they couldn't fight the flood of inventory at that level so they let it go. It did rebound at the eod which was a good sign but the weakness that was shown today will be tested again tomorrow at a lower level. I have holdings of both that I have had for a long time and have been through this drill before.
nobody would use a stop loss at 5, it barely made it to 5, I think alot of people are sitting on the ask at 5 and until we get that number down, we will tread water, I do see it closing above 5 today though, which will be huge
looks like that seller exhaustion that chute was talking about the other day may be happening, I dont see big sellers coming in yet like they have recently, although they may be laying in wait, I did add some NE this morning as it near 30, and just sold some ESV on the pop to near 50.
Man they are hitting everything hard today, look at ESV, just added some at 49.10 but it looks like it will break 49 today, want to add some NE but I do think that since it is so close to 30 that it will get pushed under, I am watching for now, under 30 I add, RSI on NE and ESV is as low as I have seen it in a long time, overall market crashing is not helping either, good luck to all
so you took the plunge on HERO? I have been watching that since you last mentioned it, looks good at these prices, bought more ESV today at 51, may not be the bottom but thats ok, brutal sell off the last couple days, way way overdone
I am also back in, this is way overdone as usual, RSI says oversold, may go a little lower but I don't see that much downside risk from here, good luck to all
Wash sale rules cross accounts, technically they even include IRA accounts. Trust me, there is no easy way around these idiotic rules other then to ignore them and hope that you are never audited.
I do have ESV and added to that today as I didnt have any wash sale problems with it, thanks for the info re HERO, I will check that one out
technically, I don't think you can even do options and avoid the dreaded wash sale rules, I hate those things, it has gotten even worse now that the brokerage houses have to give the IRS cost basis information. I use Trade Log which gives me a Sch D and does all the work and which I have confidence in, but now I have to reconcile my Trade Log report to what the brokerage provides for cost, and since the brokerages are known for making tons of errors when it comes to wash sale accounting, it becomes a nightmare for me so I try and make it a little easier by just not carrying over any wash sale losses from year to year. There must be an easier way but I have not found it. It is killing me to not be able to stock up at this price. Today was a massive dump with big volume, but I don't see it going much lower.
Looks like a great entry point to me, unfortunately I had some wash sale losses in Dec 2013 on NE so can't get back in until this Friday. It will probably bounce by then. I try and never carry over wash sale losses into a new year so if I have any, I sell before the year end and then just wait it out until the 30 days has passed. I don't worry about them mid year as I use Trade Log to do the work for me. I truly don't think anyone, IRS included, really understands those rules. Good luck to all.
Thanks Turbo, same to you, and as far as NE being a trading stock, it is what it is, one of these days it might break out of its pattern, but until then, you just have to use the ups and downs to try and make a little money, happy holidays to all.