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Old 11-19-2008, 03:13 PM
 
1,860 posts, read 3,321,945 times
Reputation: 1046
Quote:
Originally Posted by sonarrat View Post
If you want to make money right now, short the guys who aren't hurting yet. Wal-Mart comes to mind. They keep coming up with increased profits.. that will end soon as more and more people run out of money.
Sorry, but are you nuts? In bad times, people are going to buy necessities only, and Wal-Mart is the place they will flock to (if you buy into all that fundamental stuff). A stock like WMT is not even a potential short stock.


For the record, I don't own WMT and probably never will, because the stock doesn't meet my buying criteria.

Last edited by davidt1; 11-19-2008 at 03:55 PM..

 
Old 11-19-2008, 03:22 PM
 
Location: Norman, OK
32 posts, read 47,911 times
Reputation: 20
I'm thinking the market hits a deep (maybe not THE) bottom after New Years when the 2008 Q4 reports and earnings come out. Pretty safe bet they're gonna look like s***.
 
Old 11-19-2008, 06:38 PM
 
Location: Rockland County New York
2,984 posts, read 3,460,984 times
Reputation: 1238
Quote:
Originally Posted by normanguy45 View Post
I'm thinking the market hits a deep (maybe not THE) bottom after New Years when the 2008 Q4 reports and earnings come out. Pretty safe bet they're gonna look like s***.
Norm I feel you are right.
 
Old 11-19-2008, 06:58 PM
 
Location: Charleston, SC
159 posts, read 184,905 times
Reputation: 66
YOU HAVE ABSOLUTELY NO IDEA WHAT YOU ARE TALKING ABOUT. DO NOT LISTEN TO THIS PERSON!

If the DOW breaks 7800 tomorrow it is a technical support line which could take it down to the 6000-7000 range.
 
Old 11-19-2008, 07:17 PM
 
Location: Los Angeles Area
3,306 posts, read 1,171,163 times
Reputation: 592
Quote:
Originally Posted by Lulu101 View Post
Keep drinking that sweet nepenthe. Let blissful oblivion cloud your mind.
Huh? Do you think I said something inaccurate? You can make millions off a little in options, shorting etc. Point being if you really think you are correct about the direction of the market, they should leverage up and make some real money.
 
Old 11-19-2008, 07:24 PM
 
Location: Los Angeles Area
3,306 posts, read 1,171,163 times
Reputation: 592
Oh geez, didn't realize the market tanked today until just now. I only have a few thousand left in equities so I stopped looking at the equity markets all the time, its depressing.

2 years ago I thought the DOW wouldn't go much below 10,000, but I didn't bet any money on this prediction it was just really an educated guess. I'm really glad I don't have much in equities...its starting to seem like there has really been a 2 decade long bubble in stocks.
 
Old 11-19-2008, 07:54 PM
 
Location: Keller, TX
1,592 posts, read 2,050,338 times
Reputation: 791
Quote:
Originally Posted by Humanoid View Post
Huh? Do you think I said something inaccurate? You can make millions off a little in options, shorting etc. Point being if you really think you are correct about the direction of the market, they should leverage up and make some real money.
+1

Calls on DIG or even ERX, June calls on UYG (going for a song), Calls on DIA, QLD, URE, SAA, etc.

I would probably do a straddle/strangle, however (buying calls AND puts). Personally, I'm not holding anything long term except a few $20 strike AMR call LEAPS. Besides, the 120% gains in one day on index puts are mostly happening on the November and December puts...
 
Old 11-20-2008, 08:01 AM
 
1,831 posts, read 3,452,051 times
Reputation: 635
Quote:
Originally Posted by Woof Woof Woof! View Post
Okay, Sheri257,

How do you feel today? Are you happy you jumped in to buy those stocks?

This is a fools market right now.
Yeah .... ya got me. Obviously I wish I had bought at 7800 instead of 8700 but oh well ... I'll just buy some more and lower my basis.


Last edited by sheri257; 11-20-2008 at 08:15 AM..
 
Old 11-20-2008, 08:42 AM
 
458 posts, read 429,464 times
Reputation: 152
Quote:
Originally Posted by sheri257 View Post
Yeah .... ya got me. Obviously I wish I had bought at 7800 instead of 8700 but oh well ... I'll just buy some more and lower my basis.

Actually you proclaimed on the morning of November 5th you were getting back in the market when it was at 9625. The market has dropped 19% since then. Basing it on the S&P 500, you got in at 1005, it is now at 785. That is a 22% loss. You are bullish on Real Estate too, correct?
 
Old 11-20-2008, 08:45 AM
 
Location: Wouldn't you like to know?
8,234 posts, read 9,536,721 times
Reputation: 3110
Quote:
Originally Posted by Winkelman View Post
Actually you proclaimed on the morning of November 5th you were getting back in the market when it was at 9625. The market has dropped 19% since then. If we break 7800 you will have an even lower basis to brag about!
Don't you know that it's human nature to boast about the hits and forget about the misses?.....
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