Guest Posted March 8, 2003 Report Share Posted March 8, 2003 weirdly, it's how we started in the first place. trading peace of mind for shiny baubles taint natcherl. And not only that Phat but its such a buzz buying stuff with money you actually have. I get to buy a mountain bike (courtesy of Newscorp trade) and if I do ok next week then the front fence gets painted! WHOO HOO! Link to comment Share on other sites More sharing options...
Guest Posted March 8, 2003 Report Share Posted March 8, 2003 "And they are seriously wanting to refi and take spending cash out ----like maybe another $40k for future land purchase-maybe-down the line a few years." Put the 40K in June 25 QQQ Putz at $230 per contract --- that's 173 contracts. When the Q's hit $15 sell and you'll have at least $173,000. Dogboy, It could be a bit hard to sell those $1000 contracts when the QQQs hit $15. You got to be able to unload them to make the bucks. Laddering strike prices is the way to go. Link to comment Share on other sites More sharing options...
stiffed Posted March 8, 2003 Report Share Posted March 8, 2003 MrHanky, I know a little nose job you might be interested in taking on! I'm considering taking most my trading cash and paying off my house and and car so my monthly nut is more reasonable...not sure if it is the right thing to do or not.. Do it! I did it. Vowed in 1990 never to be in debt again. Not even an overdraft. Greatest feeling. Makes it hard to attract chicks but hey! that saves me from even more debt Oh it's sweet! In your position, I'd pay off the house and then I'd sell it and rent. But your circumstances may be different to mine... I rent, I drive a used Toyota and cash grows in the bank. Freedom! stiffed Link to comment Share on other sites More sharing options...
GregFokker Posted March 8, 2003 Report Share Posted March 8, 2003 GF, at times I'm scared too buddy, but then I picture myself either long this same garbage or not short at all and realizing I'd regret not being short and then I feel much better being short. :grin: That's why I always hold on to my putz too long... I think... "would I take a bullish position here? Ha! No way." And selling putz is a bullish trade... Gotta get past that little blockage, but mid-term I'd much rather be short than long. This market, economy, society and maybe even world has a real spooky feel to it, and not in a good way. Link to comment Share on other sites More sharing options...
ThorAss Posted March 8, 2003 Report Share Posted March 8, 2003 Globex is quoting the NDX at 970, the cash close was 986. S&P 811, cash close was 828. I assume this is a mistake. Right? I think you're looking at the pre-market. After hours Nasdaq indicator closed at 987.58, sorry! :cry: Link to comment Share on other sites More sharing options...
BigWave Posted March 8, 2003 Report Share Posted March 8, 2003 With all the movement today total NAV change - 10 cents. I'm no quant, but this country, and therefore the world, is toast. Get on the trend and ride it into the ground. I'm tits short and the only thing that can save this market for the future is a flush today. No way I get shook out. Pile's right- wake me when we get there. As for Stoolville, everybody chill out and wait for the inevitable..it's coming. Stoolie's rule! BW Link to comment Share on other sites More sharing options...
phatbubble Posted March 8, 2003 Report Share Posted March 8, 2003 Quote from Phatima blather about the plunge protection team for a second. 'PPT' is turning up in about every fourth post, and seems to be becoming shorthand for 'any upmove that cost us money'. now, i regard regular and significant intervention in the financial markets as a stone fact ... I agree with this, usually. Today bugged me because we had the assault on gold preceding the jam north by 15 minutes which itself was nicely coupled to a quick-time resuce of Uncle Buck. Too many factors at once for coincedence....for me. coincidence my ass. i'm with you. the point is to prevent awareness of these hijinx from morphing into a state of gibbering semiparalysis, in which every trade becomes a scared-money, hope-the-PPT-doesn't-eat-me proposition. they can't polish a turd for long. Link to comment Share on other sites More sharing options...
brian4 Posted March 8, 2003 Report Share Posted March 8, 2003 If you're a trader you HAVE to be NERVOUS-that is your EDGE-nervous is good EMOTIONAL NOT! Dog Boy-GREAT POST! about a year ago DGB and I were posting about how this was going to end with a bunch of guyz around a fire in an oil drum outside a sleazy warehopuse where NazQuack had moved and where guyz in threadbare $1,000 suits were going in and out clutching pieces of paper. We spoke the truth then and do now-Trade Safe! Link to comment Share on other sites More sharing options...
gruff Posted March 8, 2003 Report Share Posted March 8, 2003 And by the way day trading or any short term trading is NUTS in my opinion. A sure way to get taken to the cleaner by Da Boyz. You can't beat the house but you sure can make money on the primary trend which is DOWN BABY !!! More slamming of the daytraders. I suspect every nay-sayer is one who was lured by the promise of 'quick riches' during the idiot bull mkt - and they got burned BADLY by thinking they could daytrade part-time and/or be a perma-bull and the 'trend' would save them. Definition of a sheeple: one thinks the current trend will continue forever. Daytraders have no such concerns - they place their trade - they know when they are proven wrong - they do not buy/sell and hold 'forever'. They also compound their wealth many times over by upping their trade size over time. "Primary trend down"? Lay that statement on a 50 year chart to expose yer limitations! Recent price movement is an intermediate counter-trend at best. What shock! What horror! To awake one day and discover ye have become the sheeple whom ye so sanctimonously derided from yer lofty trend-based point-of-view. Again, not a concern for the daytrader. Ask not for whom de bull toils, for it is for thee. Thanks for sharing yr opinion and I hope ye recognise when the time comes, to stop being a perma-anything. success! gruff. Link to comment Share on other sites More sharing options...
DrStool Posted March 8, 2003 Report Share Posted March 8, 2003 By all means, pick any one of the accomplished traders on this site, who freely offer their trading prowess for all to examine and learn from, and follow their lead. However, only follow when ye understand their methodologies and the parameters of their trading systems. Yeah, and they're all bearish as hell right now. :wink2: Link to comment Share on other sites More sharing options...
Guest Posted March 8, 2003 Report Share Posted March 8, 2003 Trademark PPT action at the open. Anymore when I see the red showing up circling the global indices in the wee hours and depressed futures, I look for the POG smash and the dollar pump; I know the PPT is ready to act once futures are bumped into the cash market. Today, I sold 1/2 of my short term puts when the markets loitered for a bit after streaking red at the open. I wish I sold them all but I held back just in case more downside was coming. Then when the Benny boys rumor hit I grabbed some calls to hedge my account. Unloaded the calls when the momentum died out, took a small loss on those. Shouldn't have bought them, that was an emotional reaction to the 'news', it wasn't a good entry point since I hesitated. Live and learn. B4, thanks for your posts, they're a must read for me. Link to comment Share on other sites More sharing options...
BigWave Posted March 8, 2003 Report Share Posted March 8, 2003 B4, thanks for your posts, they're a must read for me. I second that. Link to comment Share on other sites More sharing options...
wndysrf Posted March 8, 2003 Author Report Share Posted March 8, 2003 The end of Noland's piece tonight describes how the Atomic Particle Accelerator is getting faster and faster. The lower the market goes, the lower the interest rates go. That feeds the MoGauge, and more refinances and cheaper credit push real estate prices higher. The more debt created, the more "money" created for Repo Jamming, and in turn, re-leveraging into even more mortgages. What will stop it?? If the market rallies hard enough, then the Treasury rates will climb and stop the accelerator. Here is the Cosmic Joke: A big War Rally in stocks, which stops the Credit Bubble cold. Once the Credit Bubble pops, then Joe Sixpack has no choice but to sell his stocks to keep up the payments. So think about that scenario. A rally that chokes Structured Finance. A rally which finally produces a catalyst to cause the final capitulation. Shorts are blown out, and Joe Sixpack finally sells his stocks. No more Repo Blasts to save it. And no more shorts to cover.... Then its straight down. Uninterrupted. Into "GAME OVER" as Hypertiger describes it. Link to comment Share on other sites More sharing options...
PileDriver Posted March 8, 2003 Report Share Posted March 8, 2003 I'm watching the bull bear debate on Crapvision. Maybe I am having a mini stroke, but I cannot for the life of me tell the difference between the opinions of these 2 gentlemen. They're both bullish. They're just calling one a bear for the halibut. Regards WH Crapvision, I get more mental stimulation watching "Sponge Bob Square Pants" with my kids. Patrick Star has more sense than all combined on Poovision. Link to comment Share on other sites More sharing options...
Guest Posted March 8, 2003 Report Share Posted March 8, 2003 While the "cosmic joke" may be a bit of a fantasy, it would be an ironically appropriate endgame for the market and Al Green and not completely out of the question. That the war rally may be strong and the catalyst for the big drop we know is coming, is the only reason I am considering covering, waiting and reshorting during said rally. Link to comment Share on other sites More sharing options...
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