Shorting blue chips (IRA, dividends, investor, trust)
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Would I be the biggest idiot if I short XOM's in the coming days? I see an opportunity. I am looking at other blue chips that I wanna short too. Been reading the yahoo finance message boards on XOM. A tons of short sellers run riot there
With the DJIA getting beaten way too often, this might as well work.
Stock gurus, your opinions are highly appreciated
First, stop reading message boards for stock picking advice. Get some financial knowledge, understand the markets and the economy. Then evaluate an individual stock based on its competitive position in the marketplace, the future growth prospects in that marketplace and how well a company is managed based on its financials, profitability, and earnings and revenue growth rate.
I remember a few years ago, Google was at some ridiculous level. People thought it was overvalued at $200, then it goes to $450. Then I thought it has to go back below $400.
Lo and behold it went to $700, lol, before crashing to $300. Remember the old saying, the market can stay irrational longer than you can stay solvent. Some long dated puts would have worked. But still.
Intermediate term moves in the market are more random than anyone on a message board (or on a financial news show) would ever admit. The best long term short would probably be bonds right now. Better fundamental reasons to short that than xom right now.
The long term spx chart is very scary. Two gigantic bubbles at the end. Will there be enough to reflate a 3rd bubble?
Things are going good. Exxon is swelling, I'm just waiting for that 2 to 3 bad day streak to short it.
Bizarrely, this week's reports have been unexpectedly good. But this is still a denial rally. I like Exxon in the 61's, when it gets to 63, and when a slew of bad reports hits the DOW, I'll happily short XOM
My other shorting targets are STD and BAC.
Lately, I have been thinking of getting rid of my existing longs on BAC. The financial derivatives fracas will consume BAC in the coming months. STD is stronger as they have a diverse clientele stretching in the South Americas.
Couple days back I missed an awesome shorting opportunity on STD. It dropped nearly 80 cents in 2 days
Would I be the biggest idiot if I short XOM's in the coming days? I see an opportunity. I am looking at other blue chips that I wanna short too. Been reading the yahoo finance message boards on XOM. A tons of short sellers run riot there
With the DJIA getting beaten way too often, this might as well work.
Stock gurus, your opinions are highly appreciated
I'm not a stock guru, but I can tell you that you shouldn't base your investment ideas on yahoo finance message boards. 90% of the posts there are written by clueless idiots...kind of like here.
I'm not a stock guru, but I can tell you that you shouldn't base your investment ideas on yahoo finance message boards. 90% of the posts there are written by clueless idiots...kind of like here.
Yes, LOL.
I know offline traders, I actually work in the financial industry. Shorts are making merry in this bear market. Every guy I run into speaks only about shorts.
One guy shorted XOM when they were taking over XTO. It's naturally expected that when a bigger company swallows a smaller one, the former undergoes temporary stock depreciation owing to the takeover proceedings. Luckily for him, XOM went down to as far as 55.XX. He made thousands before he covered.
Depends how you are shorting XOM... Are you shorting on a day to day basis? Maybe $1 or 2?
i.e. shorting they will go to 60 or 59? (they are 61.20 currently)
If you are shorting any more than that, then it is ridiculous... I mean it is XOM for gosh sakes!
Depends how you are shorting XOM... Are you shorting on a day to day basis? Maybe $1 or 2?
i.e. shorting they will go to 60 or 59? (they are 61.20 currently)
If you are shorting any more than that, then it is ridiculous... I mean it is XOM for gosh sakes!
I shorted 200 at 9:31am
It's already down 50 cents from previous close. I'll keep watching it and cover it today itself.
There are rumors that somebody downgraded it. And I jumped right in
It's only 200 shares, so I am not too worked up, actually. Just experimenting. It's a surprise coz the Dow is doing good today.
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