Ok thanks I will check that site. I was looking at the charts on Yahoo and as I stated I could see it on the 6 month chart or the longer ones. Actually I could see a few head & shoulder patterns but I couldn't see it on the weekly one on the yahoo site. I'm not a chartist but I do have a open mind and I'm willing to learn and listen to others opinions. I might not always agree but I am open minded because the older I get and learn the more I realize how little I know.. So what does the chart say for the S&P 500 for the next couple of weeks, months? I bought SPXU yesterday and sold it at the close today. I didn't catch the low on it but made a nice little chunk for a day trade but nothing close to what I made on the last trade on it. I think I will keep trying to trade it as long as we keep having these swings. It puts a little bread and butter on the table for now anyways. I sold some puts on DDD a couple of days ago and didn't expect news until earnings so I guess I will picking some up Sat. whether I want to or not unless we get a bounce. Make it on one trade and lose it on another. Oh well so is life. Nobody goes without a few losing trades, nobody.
I see the head and shoulder on the month but definitely don't see it on the weekly from here back a week. It was trending up the last week until today and then it went off the cliff. that is plane and simple.
I agree with the pay cut part for sure. Most CEO's are way over paid in this country and suck up too much of the bottom line earnings for their own personal bank accounts and the shareholders go without. If you don't think so compare them to their world counterparts.
I owned DELL back in the day and they had problems similar to this but with currency hedging also in the mix. I got nervous and sold out losing a little in the process and about a year later it took off and didn't look back. It split 6 or 7 times and the 30K I had invested if I kept it as a longer term investment would have turned into several million. I'm not saying this will happen with DDD but I can see where it could. I plan on adding more at some put after my options are put to me Sat. It was all doom and gloom on Dell back in the day to. This industry has a lot of potential for growth and I can't help but believe DDD will be one of the major players in that growth. Just my humble thoughts on the current news.
If these new numbers are right that is 38% earings growth next year.
Looks like I'm buying some at a cost of $39.60 because I'm sure my puts are going to exercise unless it bounces to $40 by Fri.
I'm in at $25.10. So do you think I should hold for the next year? I replaced my NE with SDRL. I took quite a bath on NE in a very short period. My thinking was if they cut the dividend in 1/2 it would still be about 7% and SDRL has one of the newest fleets but they also have much more debt to go along with that.
Oh they were quite regular moves of 200 to 300 point down days back then for about a month or so straight I remember them well because I was on margin for a 1/2 mil and it didn't take long to wipe my account out real fast because I was heavily in the tech's. It put a hell of a big dent in my retirement plan because I wasn't diversified enough. You know the ole saying don't put all your eggs in one basket is a good rule to live by. I kept thinking it had to bounce from a week straight of those 200 to 300 down days and I got stubborn and the market handed me my #$%$ on a platter well done. Don't think for one minute that the market can't let you know who the boss is and humble you in a hurry. The thing is I knew better but didn't follow my own advise. There was no dead cat bounce at all. Moto was a big one that I had options on and I wanted to swap them out for JCPenney at the time but my broker didn't think it was the right move but if I had followed my instinct on it at that time I would have gained about a 1/2 mil of losses back. Oh well so is life. My account had the biggest loss of any in Paine Webber during that crash. I remember reading about a guy that owned a brokerage firm which I can't recall the name of but he couldn't trade through his own firm so he did his trading through another and put his firm up as backing for his margin. He also had his home financed through his business so not only did he lose his brokerage firm and several hundred million that it was valued at but also lost his home in the process. He lost everything he owned and it seemed like he ended up delivering pizzas for a living or something like that. The Wall $treet journal was full of stories like that but that was probably the worst one I can recall.The guy wasn't a dummy but just got caught up in the euphoria of the time and let greed destroy him.The moral of the story, don't use margin and if you do be very careful with it. Margin KILLS. I haven't seen any stats on margin levels .
Back then it was 200 to 300 points everyday for about a month straight. I kept waiting for that bounce that never came and being on margin in the high 6 figures didn't help any.
Very true the fundamentals are different this time around I'm just talking the 200 to 300 point down days that went on for a month every day. I dropped well over 7 figures during that period that was very depressing to say the least.
I''m tempted too. I did buy some DHX today and sold some puts on DDD so I migght be buying back in to DDD in the next few days if they exercise. I'm trying to keep some powder dry though for better buying opps.
I sold some puts on it today and was lucky enouh to get them at their high. So if it drops to the strike price in the next few days I will match your 500 if not I still got the premium.
No I was saying we could see 20% easily a week ago. We could see 50% to 60% if things gget really bad. How low are you talking ? Lets hear some numbers
Up over 9% just today. I'm up over 18% since I bought it in the last week. I'm half tempted to take my profits but I'm thinking it could go much higher. The S&P has only now just given up its gains for the year. Who thinks we could see 1550 on the S&P??? My RYURX isn't doing bad either. Lets hear some thoughts on how low the S&P can go.
Yeah down 354 on the DOW and 42 on the S&P on multiple days isn't noticable...that is funny