Hambergler

If only 2 out of 10 fund managers can beat the index then they are not only unlucky, but detrimental. With all the "knowledge" they have. With access to company execs, and all kinds of privileged information. They can't outperform an automated system? Perhaps you should call the losing fund managers and tell them what funds to invest in.

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xTYBALTx

The S&P500 is off almost 8% this month. WTF is going on.

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A policy of freedom for the individual is the only truly progressive policy. -F.A. Hayek

xTYBALTx

Locked in some profits today.

Finally in the black, up 1.5% overall since my account opened.

Since my account opened, I'm beating the S&P500 by about 8.7% overall.

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A policy of freedom for the individual is the only truly progressive policy. -F.A. Hayek

bkelly

Isn't it obvious? I sold my short positions thinking the market would hold for the summer.

It's like washing your car on a sunny day. You're gonna get soaked!

I'm obviously too impatient. I'm trying to time the market on a daily or weekly basis when I'm working with a macroeconomic perspective. The two don't mesh well at all.

bkelly

Hambergler

IS it safe to say that if everyone does the opposite of what their best thinking tells them to do, we will all be in the money.

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USN_Squid

This oil runup is just screaming bubble to me. I've read what I can about supply/speculation etc. and I just can't see it continuing.

I'm shorting next year's winter crude with all my cash:
CLZ9 $135

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xTYBALTx

NEW YORK - Shares of General Motors Corp. plunged Wednesday to close below $10 for the first time in more than half a century, on worries about the company's cash needs and speculation about a possible bankruptcy protection filing down the road.

GM shares fell $1.77, or 15.1 percent, to close at $9.98. Their session low of $9.96 marked their lowest point since Sept. 13, 1954, when they hit $9.92, according to the Center for Research in Security Prices at the University of Chicago. The price is adjusted for splits and other changes.

http://www.forbes.com/feeds/ap/2008/...ap5179296.html

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A policy of freedom for the individual is the only truly progressive policy. -F.A. Hayek

Sabre_Tooth_Tigger

Bargaintastic? Whats the pe


Squid you are the king canute of oil

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xTYBALTx

GM doesn't make a profit. So their P/E breaks my calculator.

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A policy of freedom for the individual is the only truly progressive policy. -F.A. Hayek

Sabre_Tooth_Tigger

haha oh yea of course what was i thinking I dont know US tax law but cant breaking even or making a loss even, be more efficent then being taxed on profit. Depends where the revenue is being placed I guess.

Its not a company Ive really read up on or wanted to for obvious reasons but maybe nows the time, or not

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USN_Squid

Canute can't hold a candle to controlling the flow of oil. Oh to be envied by Canute himself...more powerful than all the money the stock market could offer.

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leejo

What up, yos? I left my cellular wireless card on the plane a few weeks ago, and my client firewalls TG, AND I've been way too pooped at night to be posting stuff here, so sorry for being out of touch or sorry for not staying away, whichever works best for you.

This past week I've actually recovered about 10k by day-trading options - mostly GOOG calls and MON puts with two other companies I bought into based, among other things, on their performance on 6/13/08, a horrible day for the market but a strong day for these - IPI and SQNM. IPI is a potash mining company (commodity play) and SQNM is a biotech firm who makes a test for downes syndrome that's non-invasive. IPI has cratered this week (no problem since I've been locking in profits each day and stay well clear if IPI looks like it's going to be a rough day) but SQNM has done quite well.

I think I mentioned that I gave in and bailed on my financials and homebuilder positions. A painful unwinding there. Now my little account is worth 85k with about 33k in cash, ready to pounce. My little homebuilders are looking attractive again, and if they have a decent couple of days in a row I may buy back in, but for now I'm not interested in trying to catch a falling knife.

In real life, I sold off all my homebuilders a couple of months ago for a decent profit. I still own my financials, which on the one hand are falling about as fast as I can put money into them to keep my overall gain/loss at break even, but the dividend yields are just super and I don't own any of the guys who are making front page news. BAC, WB, and ACAS primarily. Short of some catastrophe, I expect these to be worth a small fortune in 10 years. I'm very excited to be buying these totally beaten down stocks. I also own some BBV, a huge Spanish bank who bought Compass Bank a few years ago. I know from my work that Compass and BBV are strong in central america and have a competitive advantage there over many large US and European banks. So this is my version of the central american play.

I'm cooling my heels in the Newark airport waiting for my ride home. Here's hoping y'all have a happy 4th weekend. Cheers, and keep investing!

Drizzid

Purchased 500 shares of AT&T @ $25.11

I think the I-Phone will boost AT&T's profits with the cheaper 3g phone and the required 2yr contract and increased calling plans for the I-Phone.

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USN_Squid

Bought FRE on the panic rumours Friday. Paid 4.5 sold at 7.9 for a quick $10,000 over the weekend. Yeah!

My oil plays haven't worked out yet. My account balance is hovering around $118,000 now.

By the way, I've also made $5000 in play money with the FOREX free tool. Lots of fun there too.

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xTYBALTx

Today's activity:

Sold 440 BUD for +$2,346
Sold 499 SDS for +$36,122 (booyah!)
Bought 120 SPY AUG 130 Cal ($14,580.00)
Bought 266 SPY AUG 115 Put ($41,629.00)
Already possess 27 AAPL OCT 175 Put $44,000

So I only have three positions, they're all options. The first thing which comes to my mind is that the commission on options is highway robbery! I had to pay well over $1,000 in commissions this morning alone!

Secondly, my moves are to cash out on SDS, which has made me an absolute killing, and shift everything into straddling SPY with options. SPY is the most popular S&P500 index fund, so I'm basically getting ready to cash in on any heavy volatility in either direction between now and August 15. It's a risky bet, since my options will expire by that day and will steadily decrease in value until then unless something major happens.

Hopefully something big happens!

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A policy of freedom for the individual is the only truly progressive policy. -F.A. Hayek