Official Short-term Investments Thread

[max_boost]

Classic dead cat bounce? Oil futures down $0.90 right now. What does that mean? If anything? lol :nut: :dunno:

[ckangarloo]

Anybody thinking of signing up for his new newsletter?
I have been following this blog for about a month and I like! Too bad he is taking away the public info.
Very, very informative to us HOD/HOU traders.
http://crudeoiltradingsmallspecs.blogspot.com/
Its like SilverRex and MaxBoost on steroids but without the plastic bag in the wind. ;)

[Z_Fan]

Yeah, the problem is that the volume is virtually nothing. I have seen very odd numbers before, and you think they are going to be indicative and then it does the total opposite once the real volume starts happening.

Not always, sometimes it does exactly what the numbers say. Bottom line is not to trust it.

And the other shitty thing is, when it does gap like this, especially if you bailed on HOD, assuming the numbers remain the same in the 15 minutes prior to market open, you miss out on the gap all together.

[roopi]

My latest purchase for my TFSA account is VFF.UN (Village Farms Income Fund). Has anyone looked into this? It's paying a ~10% distribution. It is only $0.01 a month but looking at the industry they are in it seems pretty safe to me.

[max_boost]

Originally posted by ckangarloo
Anybody thinking of signing up for his new newsletter?
I have been following this blog for about a month and I like! Too bad he is taking away the public info.
Very, very informative to us HOD/HOU traders.
http://crudeoiltradingsmallspecs.blogspot.com/
Its like SilverRex and MaxBoost on steroids but without the plastic bag in the wind. ;)

I'm a complete amateur. I flip coins to make my decisions and like a bag in the wind, blow me hard enough and I'll go whatever way. :dunno:

Anyway, I quickly read over it. I'm feeling like Billy right about now. I just hope I can come out of it like he did.

Man were you ever right, reading his blog is like reading me and SilverRex's postings. Mind you the blogger (Rich Olney) is wayyy more gangster than me and Rex.

ckangarloo, when did you find out about this blog? And you didn't share it with us until now?! Anyone care to sign up and share the info with us?

[SilverRex]

Friday do or die

premarket is going to open lower and if the market (especially the DOW) closes below the november low, then boy its going to be a depressing week next week. Then again one more week until march rolls around, the timing of all of this stuff is wrong.

because one hand you got ok technically its bad and 6500 DOw here we go, on the other hand, wait its march thats when the rothchild and gang wanting to push gold down comes to play and market tends to rally at this point.

could this be a headfake?

All I could say is if there is no half day reversal or last hour massive rally and it does close below then hold on to your seat belt.

wow oil wanted to move higher, the sharp ascending wedge on the 15 min chart just signals down all over the place. Now its playing its important 200 day again which is 37.9 if it remains under for too long we will be headed to 36-36.5 before any bounce

oil will most likely move according to the stock market.

gold/silver I was going to give it another week I guess it came sooner than I thought, run continues and gold indeed wants to test 1000 and its 995. The extreme overbought condition could only mean one thing it is too high and so we just have to wait for a pull back.

but if the stock markt is going to take a nose dive right now, right here, then gold only has one way to go and that is up. So only two thing is going to happen.

1. Gold find and hits its 1000-1033 mark, then bigger sell off begins towards 850-900 stock market was shaking out weak hands, DOW breaking new low was false and comes roaring back with a quick rebound. This would line up better because all gold and gold shares technically are due for a huge pull back. plus timing is important if 08 proves to be the same pattern because the market rebounded in march.

2. Market panic begins, DOW towards 6500 starts, gold continues to climb towards now targets 1150-1200. All technicality for gold is thrown out the window. Yes gold will still come down 200 dollars but after it achieves a new high and that is when the DOW will rebound all the way back to test the 7500 resistance before turning lower again and gold resuming its deadly climb after retesting 1000 which will then be the new support

so that your pick.

i will pick 1 because then the market will form a descending wedge which will be bullish in a few months down the road.

[SilverRex]

gold now at 998

:D

im cashing out my silver profits

BAC at 3.21 anyone?GM at 1.81 would be a good gamble too :)

update: picked up some BAC at 3.33 HEU now at around 52 week low 3.38

oil, if oil can hold above 38.20 for 10 more mins then I will feel better with that hammer at the 200 day. right now it is starting to looking like oil is in a triangle flag pattern with short term top at 39.6 and the 37.6 low. obviously which ever way it breaks will be the direction its headed for, but it is more positive for bulls because this flag is on an uptrend. If everyone remembers the last roll over, there was every bit of buying everytime it hits the 200 day moving average. all the way until oil finally hit 48.50, now so far oil has manage to test 200 day yesterday and it held, and right now it is about to mark another bounce off the 200 day yet again at 37.9, so for the next few hours oil should find its way back to 39.6

[SilverRex]

gold/silver both formed a very beautiful reversal at 998/14.57 will and since gold has dropped 10 dollars. will this be the peak we have gold bulls am waiting for? I hope so, I hope gold/silver's pull back begins NOW.



oil formed a very nice reversal hammer on the 1 hour chart. I guess I will not sell my HOU after all and see if we can get back to 39

[max_boost]

Well, I got stopped out of HOD at $43. Going to just watch things from the sidelines for now.

SilverRex, do you really want to get involved with BAC? The nationalization of both Citigroup and Bank of America is inevitable. Those two banks are the weakest links!

Turn on BNN right now, some guy from Horizon Beta Pro is going to be talking. Maybe he's going to tell us something about HOU/HOD that we don't know about lol

[SilverRex]

^

for HOD I'll wait till its lower before getting in and I think we wont see any more strength from hOD today anyways.


as far as BAC, Im only playing a few hundred shares for fun so no sweat here. In the last few months I see morgan stanley dropped to under 7 and now its back up to 20, ive seen GM first drive to current levels and went nearly 3 folds. So this is a pure gamble that any news, gov aid will double BAC in a heart beat.


we need to cheer for DOW to close above its november low today because that would be awesome. Not that we dont believe it can head lower but at least the picture from a technical view will be more clear and we can trade between the range.

[civic_rida]

What do you guys think of rbc (ry) as a long term is it going to go lower.

[max_boost]

Yeah, now that I'm out of HOD, I want oil to rally and rally hard. Use any and every excuse to get it going. Because when HOD drops to $30, I am going to push all in :eek:

The TSX & DJIA bounced back a bit from this morning's lows. It's still doom and gloom. Nothing is changing.

In other news, another rate cut is coming as inflation slowed to 1.1% so another rate cut is coming.

Also, Canwest is looking for a 'financial saviour'. What does that mean? Will Beyond need to form a new partnership soon?

[max_boost]

Originally posted by civic_rida
What do you guys think of rbc (ry) as a long term is it going to go lower.

Pick it up at $20.

When Citigroup and Bank of American get nationalized, it's going to cause a ripple effect across the sector. Canadian banks aren't balling like they use to be, dividends are going to get cut which will also cause downward pressure.

[ckangarloo]

Originally posted by max_boost


I'm a complete amateur. I flip coins to make my decisions and like a bag in the wind, blow me hard enough and I'll go whatever way. :dunno:

Anyway, I quickly read over it. I'm feeling like Billy right about now. I just hope I can come out of it like he did.

Man were you ever right, reading his blog is like reading me and SilverRex's postings. Mind you the blogger (Rich Olney) is wayyy more gangster than me and Rex.

ckangarloo, when did you find out about this blog? And you didn't share it with us until now?! Anyone care to sign up and share the info with us?

I found this blog on the TSE.HOU Google discussion a while back. I did share it with beyonders about two or three weeks ago but it was buried in between other posts. I am to lazy to find that post (probably ten or twelve pages back).

[djayz]

Originally posted by civic_rida
What do you guys think of rbc (ry) as a long term is it going to go lower.

I bought RY and BMO at $30, kinda sad that it's down 4 or so dollars now but these are two stocks that will lead the way out when things do turn around. Canadian banks are pretty solid right now and aside from the dividends I don't see much trouble ahead unless rates start going up before they go down.

[civic_rida]

Im going to try catch rbc on the way up

[lasthuzzah]

Sold my Hou @ fat profit. If I would have woke up earlier it would have been at a small loss.

Gambling or what?? I bought more TD and TR.UN is a blip of green in a sea of red (- ETF's).

[bigbadboss101]

Oil prices still quite volatile, many swings in one day.

[SilverRex]

dow is flerting with 11 year low and gold just shot up over 1000 front month contract this morning it was april contract that went over.

[max_boost]

Originally posted by djayz


I bought RY and BMO at $30, kinda sad that it's down 4 or so dollars now but these are two stocks that will lead the way out when things do turn around. Canadian banks are pretty solid right now and aside from the dividends I don't see much trouble ahead unless rates start going up before they go down.

I haven't followed any of the other banks but as long as they (RY) don't cut their $0.50 dividend it's all good. My mom also bought it at $30 lol but the downside risk isn't as great compared to my co-worker who is still holding her RY from $58! :eek:

[bigbadboss101]

Interesting. If I hold Gold stocks you think I should sit on it, or as usual take any profits and hope to buy back lower.

Hey when are we all gonna have a Beyond Investment Sushi an car meet?

[bigbadboss101]

BAC 3.07!

[natejj]

Originally posted by bigbadboss101
BAC 3.07!

Grabbed 300 shares, whats the worst that could happen! :thumbsup:

[civic_rida]

Man people lose lots of money on the stock market.

[lasthuzzah]

I'm up $14K (realized) in about a week :) Now watch me lose it all ha ha.

[civic_rida]

i bought some bac 2.95

[max_boost]

Originally posted by natejj


Grabbed 300 shares, whats the worst that could happen! :thumbsup:

OMG you guys. I know you guys don't really give a shit what I think because I'm wrong 80% of the time but you have to say I've been pretty bang on this week.

The DJIA is selling off HARD.

What could happen? How about the government taking over and wiping all you guys out?

BAC $2.72

:(

[max_boost]

Originally posted by lasthuzzah
I'm up $14K (realized) in about a week :) Now watch me lose it all ha ha.

Yeah me too. Had I sold my HOD at $47 it would have been $20K. :bigpimp:

Anyway, fucking oil man, such a tease. I was going to put a bid for HOD at $41 but held off. Now it's at $44. :facepalm:

[Z_Fan]

Wow.

BAC just was sitting at 2.82 USD and it dropped to 2.53 USD in under 30 seconds, and then returned to 2.82 USD in 1 minute.

[BigMass]

Originally posted by bigbadboss101
Interesting. If I hold Gold stocks you think I should sit on it, or as usual take any profits and hope to buy back lower.

Hey when are we all gonna have a Beyond Investment Sushi an car meet?

Gold is the only thing now that's going to stop me from having to eat in a soup line 6 months from now lol. That's the last thing im selling.

It's the advice i give everyone that talks about gold. It's not an investment, it's wealth preservation. I buy gold with the intention of never selling it. If i want to day trade i look elsewhere.

However you're talking about stocks which will never be as safe as bullion so that's different. But im sure by now everyone in this thread is holding some bullion.... right???

[natejj]

Originally posted by max_boost


OMG you guys. I know you guys don't really give a shit what I think because I'm wrong 80% of the time but you have to say I've been pretty bang on this week.

The DJIA is selling off HARD.

What could happen? How about the government taking over and wiping all you guys out?

BAC $2.72

:(

Yeah I'm taking a gamble, its just 1000 bucks.

[SilverRex]

how bout GM at 1.50 :D

[bigbadboss101]

If GM goes under who is gonna service my CTS-V? May be they will sell the 2009 CTS-V for half price :clap:

[Kloubek]

Originally posted by Z_Fan
Wow.

BAC just was sitting at 2.82 USD and it dropped to 2.53 USD in under 30 seconds, and then returned to 2.82 USD in 1 minute.

I've been watching it for an hour now - it's on a total rollercoaster.

Good time to be a day trader! I wish I had the capital....

[max_boost]

Originally posted by BigMass


Gold is the only thing now that's going to stop me from having to eat in a soup line 6 months from now lol. That's the last thing im selling.

It's the advice i give everyone that talks about gold. It's not an investment, it's wealth preservation. I buy gold with the intention of never selling it. If i want to day trade i look elsewhere.

However you're talking about stocks which will never be as safe as bullion so that's different. But im sure by now everyone in this thread is holding some bullion.... right???

Physical? or ETF like HBU?

What are you holding onto?

I'm hoping to see a gold sell off pretty soon. I agree on wealth preservation because there's no where else to park it right now. Everyone is scared. The inflation stuff won't hit for awhile though so upside is still limited in the short term but what do I know.......:D

[max_boost]

Originally posted by SilverRex
how bout GM at 1.50 :D

I hope you guys get in and gtfo when you can. Because when the Dow breaks into the 6000's next week don't say I didn't tell you so! :rofl:

Anyway, what's the analysis on oil right now man? Updates!!!

[civic_rida]

look out below

[BigMass]

Originally posted by max_boost


Physical? or ETF like HBU?

What are you holding onto?

I'm hoping to see a gold sell off pretty soon. I agree on wealth preservation because there's no where else to park it right now. Everyone is scared. The inflation stuff won't hit for awhile though so upside is still limited in the short term but what do I know.......:D

well it's not about upside. It's about not losing your shirt. Even if you sell everything and keep it in dollars you will lose purchasing power. What right now, aside from shorting, is giving you any upside?

I like real physical gold that I can hold, but ETFs are not bad, or you can use things like the Perth Mint which you can buy gold at spot and for a small fee they will hold it for you. To me that’s a hassle unless im looking at buying 1000oz. 10oz of physical gold is about $13,000 Canadian now and it’s very small. So it’s easy to store yourself.

[djayz]

Anybody buying MFC (Manulife) at these levels?

[SilverRex]

Originally posted by max_boost


I hope you guys get in and gtfo when you can. Because when the Dow breaks into the 6000's next week don't say I didn't tell you so! :rofl:

Anyway, what's the analysis on oil right now man? Updates!!!

despite heavy market selloff i am very surprise oil is holding its ground, after coming down from its trendline at 39.60 to the money, it again had bouced off the 200 day at 37.9

the only thing I have to wonder is, if this sell off is simply a over reaction because oil isnt collasping as it should, could be a indication the market could suddenly turn. and I want it to turn on the mere fact that technical it will be day trader's heaven.

BAC regain 17% after hitting its low and now at 3.00, based on the charts, if 2.53 was the low the next swing up back to 4 dollars

edit: 3.18 now

[max_boost]

Originally posted by djayz
Anybody buying MFC (Manulife) at these levels?

You can, if you want to go long that is.

I think it's pretty evident, I'm going short on everything except gold lol

My next target is HFD. Going to short the financial sector. Today isn't my ideal entry. I'll wait for a rally next week and go from there.

Bank of America and Citigroup are going to kill the Dow and kill the financial sector in Canada. A blood bath is coming and you can thank the American banking system for that.

[natejj]

Originally posted by Z_Fan
Wow.

BAC just was sitting at 2.82 USD and it dropped to 2.53 USD in under 30 seconds, and then returned to 2.82 USD in 1 minute.


Annnnd Its up to 3.24!

[civic_rida]

boo so much for that bac rally.

[max_boost]

I have to give it to you guys man.

To guts to gamble on BAC like that. :thumbsup:

Hurry up and sell and gtfo before I click back and it's at $2.50 again. :poosie:

[bigbadboss101]

You want balls, who's gonna gamble on Oilexco or Sirius :-)

[SilverRex]

man with gold hitting 4 digits, gold stock still is underperforming and could not make a new high. What is holding it back?

right now every time gold is above 1000, it is met with heavy selling or take profit?

I'm going to stick to my initial assesment that because of the way oil is moving (holding very well and now its back up to 39) the fact that gold shares is underperforming and technically overbought and ready for a big pull back and knowing when march hits is usually a seasonal sell off for gold and rally in the market place.

I'm calling this drop :bullshit: and a good rally is about to emerge

update BAC: 3.27 (it has since regain 30% from its low)
and oil now 39.50, watch out if it breaks above 39.60 then next leg up will be in the 41-42s

[BigMass]

trade the banks but don't hold em. Once they're nationalized the stock price is going to zero

[SilverRex]

update. BAC is now 3.54 phucking that is 40% gain and HOU just broke to a new high

I sold my 3.01 position for a good 17% profit at 3.53

I still have one position at 3.33 and see if I Can get to 4 bucks

[max_boost]

Go oil go! Hurry up and get to $45 so I can short you sob!:rofl:

[SilverRex]

oil breaking above its bullish flag formation

[bigbadboss101]

Sold your BACon SR? Many crazy volume and movement.

[max_boost]

Market forces in action. I remember this feeling last time. Don't know why and can't explain why.

So what? Did the bulls just decide to line up and go on a buying frenzy? To protect their territory? The Dow has almost parred itself for the day. You bastards trading BAC and GM must be laughing now.

RESPECT.

:thumbsup: :eek:

[SilverRex]

yes sold everything at 4 bucks WOW made 17% and 20% today
im shocked to say the least didnt realize it would turn around this fast and this soon, BAC regain 60%

dam I knew something wasnt right, because everything did not line up to be a mass sell off day.

This is a perfect set up for a technical guy as I am because it will indeed make the charts alot easier to analysis if the market can hold off positive into the weekend.

[bigbadboss101]

Yeah i got mine at 2.7 and 3.3. Can't complain :-)

Hey we want to see the STI!

[natejj]

I'm going to ride BAC till next friday... got my stop loss at 3.30, bought in at 3, should be a fun weekend/week ahead.

[SilverRex]

on the charts BAC is putting out another huge reversal hammer similar to the one when it first dip to 3.77, so this leg isnt finished too bad I sold and my take profit trigger may see BAC back above 5 soon

[SilverRex]

Originally posted by natejj
I'm going to ride BAC till next friday... got my stop loss at 3.30, bought in at 3, should be a fun weekend/week ahead.

didnt the gov come out and say they support keeping the banks privately held?

this should bold well especially if the market was to rally next week

edit: after I sold everything at 3.99 I bought back at 3.65 and ride till next week

[BigMass]

Originally posted by SilverRex


didnt the gov come out and say they support keeping the banks privately held?

this should bold well especially if the market was to rally next week

people still believe what the government says? They probably have the plans for taking over BAC and Citi already on the table. I wouldnt be holding them over the weekend. Remember what happened to Bear Stearns shareholders over one weekend?

[max_boost]

^

The takeover won't occur yet but soon. It's just a matter of time. :D

It's a love/hate relationship with the markets depending what side you get caught on. Any news gets magnified 1000X.

[SilverRex]

^

well i dun plan on holding BAC for ever just until the momentum dies and right now it has huge momentum I wont be surprise we will see it try to get back to 5 dollar next week.

who wants to bet BAC would be able to close green today?

[max_boost]

I'm going to spend more time to learn the technical aspect of trading. I'm going to need it.

[natejj]

Originally posted by SilverRex
^

well i dun plan on holding BAC for ever just until the momentum dies and right now it has huge momentum I wont be surprise we will see it try to get back to 5 dollar next week.

who wants to bet BAC would be able to close green today?

I think its possible, but a bit of a long stretch....

[Z_Fan]

I read that article on that blog, and if you have read it, you will know that I want my fucking boat back. :poosie:

In BAC 2.82, Out Hit Stop Loss BAC 3.71, 1000 Shares
In GM 1.54, Stop Loss 1.72, Awaiting To Hit

No matter what, +1,000.00 USD while I was out at lunch!

Honestly, I have a $5k limit. No more huge dumps of cash in to market. Play with $5k, and try to recoup some losses. This is my goal.

[Z_Fan]

And now stopped out of GM.

Fuck, that only took 1 minute or so.

[max_boost]

The volumes are insane on the American stocks. :nut:

SilverRex, technical update on oil please. What now?

I'm itching to buy back into HOD right at $40.50 Maybe just test it out with 500 shares. I don't want to miss out in case oil decides to run for $35 oil. If it goes for $45 oil, that's fine too. haha

[Z_Fan]

No regrets, but I easily think BAC will hit 5 or 6 next week. Wouldn't surprise me if BAC hits $4.20 today after market close in after hours trading.

This is very similar to what it did last time, which is why I bought it last time too. Only this time I knew I was only gonna hold for very very short time frame.

I think both GM and BAC will open WAY WAY up on Monday. I expect a 10%+ gap on both...

[SilverRex]

Originally posted by max_boost
The volumes are insane on the American stocks. :nut:

SilverRex, technical update on oil please. What now?

I'm itching to buy back into HOD right at $40.50 Maybe just test it out with 500 shares. I don't want to miss out in case oil decides to run for $35 oil. If it goes for $45 oil, that's fine too. haha

if there is one thing I learn all these years, its that there will always be opportunity.

with oil holding above 39.60 which was suppose to contain the price, I can only say oil is currently in a positive basis. The best place to short is of course at 43-44

[civic_rida]

I sold bac at 3.45

[max_boost]

Breaking news! (not really since 3 hours ago is ancient in trading)

BUT

Bank of America doesn't need anymore help and plans to repay the TARP money.

http://www.cnbc.com//id/29054289

WTF? For real?

I don't believe it..........:dunno:

No wonder BAC came back so strong.

That article came out at 1:15pm Eastern.

Is that what brought the Dow back?

[civic_rida]

I read a article sayin that bac says there is no need to nationalize

[Z_Fan]

I don't know, but I figure if BAC didn't need any more money, there stock should be worth $20 a share!

They plan to repay it over 3 years.

Anyhow, the CEO bought at $6.00 last week and $6.14 earlier on. The guy has put in 2+ million of his own money at stock prices way higher than it sits now. So he's out a lot of cash, but hey, he ain't gonna sell.

I'm pretty sure BAC will be $5 on Monday, $7 by the end of next week. :nut:

[mr2mike]

Originally posted by Z_Fan


Anyhow, the CEO bought at $6.00 last week and $6.14 earlier on. The guy has put in 2+ million of his own money at stock prices way higher than it sits now. So he's out a lot of cash, but hey, he ain't gonna sell.



Where's a good site to see these insider trading reports?

The only place I know of is MSN Money.

[Z_Fan]

Dunno, this is all just publicly listed info in the various news releases about the company...

[SilverRex]

Originally posted by max_boost
Breaking news! (not really since 3 hours ago is ancient in trading)

BUT

Bank of America doesn't need anymore help and plans to repay the TARP money.

http://www.cnbc.com//id/29054289

WTF? For real?

I don't believe it..........:dunno:

No wonder BAC came back so strong.

That article came out at 1:15pm Eastern.

Is that what brought the Dow back?

what such luck I have today, bought at 3 and 3.33 and sold at 4 and bought back at 3.65 and now aftermarket is up to 4.19. this is going to make monday a good day.

This is all going according to plan, I need gold to drop like a brick

[max_boost]

SilverRex, you are one sick trader man. RESPECT. :thumbsup:

[natejj]

Wait what?? A stock I bought is ... going up? This is so new and strange.... I should get all my stocks to do this...

[Z_Fan]

Originally posted by Z_Fan
Wouldn't surprise me if BAC hits $4.20 today after market close in after hours trading.

Close enough.

Looks like a repeat of a short while ago. BAC hit $7 that time.

This time it may not stop at $7.

Kind of wish I didn't sell my 1000 shares today. But oh well, made some cash. Will watch it closely Monday. Could open at $4.70 and I would not be surprised.

[SilverRex]

Originally posted by max_boost
SilverRex, you are one sick trader man. RESPECT. :thumbsup:

yeah its really was a gamble, gamble on the fact that BAC is too big to go down but at the same time I was only playing small money, I dont think anyone would have dare gamble the majority of their trading funds in one stock.

same thing with MS, GS, and GM too

anyways time to rest and back at it monday

[Canmorite]

Originally posted by max_boost
I'm going to spend more time to learn the technical aspect of trading. I'm going to need it.

http://www.elitetrader.com/vb/showthread.php?s=&threadid=99283&highlight=AHG

Best online resource of price action based trading I've ever found. The guy is an astounding trader...

[slick2404]

Originally posted by Z_Fan


Close enough.

Looks like a repeat of a short while ago. BAC hit $7 that time.

This time it may not stop at $7.

Kind of wish I didn't sell my 1000 shares today. But oh well, made some cash. Will watch it closely Monday. Could open at $4.70 and I would not be surprised.


http://seekingalpha.com/article/121694-eight-reasons-bank-of-america-is-going-to-20?source=front_page_most_popular_articles

Interesting read. Wasn't this the same guy that called for $35 oil

[slick2404]

Originally posted by mr2mike


Where's a good site to see these insider trading reports?

The only place I know of is MSN Money.

http://www.insider-monitor.com/trading/cik70858.html

[Z_Fan]

Originally posted by slick2404



http://seekingalpha.com/article/121694-eight-reasons-bank-of-america-is-going-to-20?source=front_page_most_popular_articles

Interesting read. Wasn't this the same guy that called for $35 oil

If you spend a lot of time to read all the comments, that's more interesting than just his BAC article and theories on $20 BAC by next year. The comments are very interesting with more fact than you'd expect.

Hard to doubt a guy who predicted the oil drop to $35 when it was over $100. But, he was actually way off in his timeline.

Anyhow BAC is still in trouble. It's a stock that rallied a couple times up +2 or 3$ twice in recent days on NO NEWS. So, people are hopeful. Who knows. I suspect it will rally this week, and I plan to buy 1000 shares on Monday at open with a reasonably tight stop.

When BAC was doing its thing last time, it was nearly closing time and it was sitting at $6.10 or something. I had just sold. Then a news udpate came over the TSX with just a few minutes before close saying the CEO had just bought a bunch of shares today at $6.14. So hell, I put in a buy order and goy my shares back at no loss, which then went up another buck the next day to over $7. Got stopped out at $6.75.

A fair chunk of insider buying on BAC. Tells me the guys who are close inside either KNOW something or are trying to manipulate the market views using their own money. My guess, they KNOW something...and are positive that BAC is coming out of this...I sure as fuck wouldn't throw a million bucks in to this stock of my own money if I wasn't confident I was gonna get it all back! CEO or not!

[Z_Fan]

2007-11-30 Gifford Charles K (Director) Sale 359,918 46.03 16,566,425
2007-11-30 Gifford Charles K (Director) Option Exercise 359,918 33.91 12,204,819


I like that one.

Guy exercises his options, and sells the fucking things the same day for a COOL $4,361,606.00 USD.

Tough day on the job that day.

Look at what this fucker did just a couple months earlier

2007-08-17 Gifford Charles K (Director) Sale 333,180 51.35 17,107,682
2007-08-17 Gifford Charles K (Director) Option Exercise 333,180 32.76 10,914,976

6+ MILLION!!!

Fuckers.

[max_boost]

Trade BAC and cash in on the craze that's going on. The trend is your friend. Just don't hold it for a long period and be surprised that one day you wake up and find out its been nationalized. Oh snap! lol

:eek:

[Z_Fan]

BAC will never be nationalized. Ever. There, I said it. But it's fairly obvious the banks in the US can't be nationalized.

[max_boost]

How about a partial nationalization on a temporary basis?

A lot of stuff is going around but instead of just throwing money at the issue, just take it over. Done. Why delay the inevitable?

Yeah that will wipe out the shareholders and kill the market but it's exactly how I see it happening haha

Read this:
http://www.freep.com/article/20090222/NEWS07/902220443

[max_boost]

Anyway, predictions on oil tomorrow? lol lol lol

The trend has been for an oil rally every month that lasts anywhere from 7-10 days. HOD has fallen from $47-$40. Ideal entry would be 50% retracement from previous low to high $22---->$47 so I have a small buy order for $35 HOD and hopefully it can get even lower. The higher oil gets, the more room for it to fall on its way to $30 hehe

With the above scenario unfolding I'm actually thinking about buying some HOU tomorrow but with a tight 3% stop so I don't get caught. As much as I hate HOU, there is an opportunity over the next few days. I really don't know what's going to rally oil other than higher forces. Somethings can't be explained anyway. It was just 3 weeks ago that the crude market managed to shrug off a 7million crude surplus and poor economic data to makes its monthly oil rally towards $48 before dying on its way to $35.

When things don't make sense, you rely on technicals. That's where SR comes in.

Also, did you know that the DJIA has dropped an average of 300pts on the Obama inauguration, stimulus signing and bank bailout plan? haha Latest news he also plans to cut the deficit in half by the end of his 1st term. Say WHAT?!?! Exactly how? :eek:

[e36bmw///]

nm

[Generic]

Originally posted by max_boost

Also, did you know that the DJIA has dropped an average of 300pts on the Obama inauguration, stimulus signing and bank bailout plan? haha Latest news he also plans to cut the deficit in half by the end of his 1st term. Say WHAT?!?! Exactly how? :eek:

no kidding, how is he going to do that? he's proved to be a tool to the left leaning liberal media so far and a terrible spending fool.

[DJ_NAV]

HOU will prove to be a fail again!

[max_boost]

^

We've already accepted that fact but it doesn't mean that you can't ride it (HOU) for a few days and cash in on its run. Oil makes a rally every month and so far HOU has put in a 15% push so far. I give it until Wednesday when the inventory reports comes out and screws the HOU holders once again lol

The way I look at it is, oil price isn't going up anytime soon. For the last two months it has peaked around the $47-$49 with OPEC, Ukraine/Russian gas dispute and Israel/Gaza conflict but this month I don't think it can even make it past $45! Oil is doing nothing but setting lower highs which bodes extremely well for us HOD lovers.

We'll find out soon enough! If this exact trend can keep up for a few months. God bless. :love: :drool:

[Z_Fan]

Oil is currently up +.32 and doing well. HOU could do a nice gap up and HOD gonna be a couple bucks down if we keep going like this until open.

I think BAC is the train to be on tomorrow. Going to buy in at open and I bet it hits $5.50 maybe $6.00 tomorrow.

[natejj]

Originally posted by Z_Fan
Oil is currently up +.32 and doing well. HOU could do a nice gap up and HOD gonna be a couple bucks down if we keep going like this until open.

I think BAC is the train to be on tomorrow. Going to buy in at open and I bet it hits $5.50 maybe $6.00 tomorrow.

Ohhh you get me all excited when you talk like that....

Got my BAC at 3.00

[max_boost]

Should be a good day for oil and the markets in general tomorrow. US government is increasing their stake in CitiGroup so its going to give investors a reason to rally hehe

I'll put in a buy order for HOU tomorrow and see where that takes me. The trend is your friend. The trend won't last but might as well profit from it. It's the month oil/hou rally :D

[ryeguy252]

anyone have any takes on suncor? more as in a hold stock not day trading

[Unikkatil]

Originally posted by max_boost
Should be a good day for oil and the markets in general tomorrow. US government is increasing their stake in CitiGroup so its going to give investors a reason to rally hehe

I'll put in a buy order for HOU tomorrow and see where that takes me. The trend is your friend. The trend won't last but might as well profit from it. It's the month oil/hou rally :D

At what price you planning on selling these?

[SilverRex]

Monday

fresh start to everything eh?

oil after breaking out of the flag, based on price projection it should at least head for 42 and if some reason oil decides to turn south, support is between 39.17 and 39.87 which I believe should hold.

now speaking of 42 we are awfully close to the daily's 50 day moving average which is now at 43 with downtrendline at around 44. That means two things could happen here.

either price will get rejected around 43-44 just like the last 3 times at 56, 50 and 48 (now at 44) or if price was to break above this and remain above it which means a clear breakout. Then oil may not be headed to 35 any more.

This will be the area and pending how it plays out will determine if we finally have seen oil bottomed or should we get at least another dip to 35 or below one more time. Clearly over all, oil resistance is getting smaller, 56-->--50--->48---->?? while the bottom at 33-35 held multiple times. Now technically it does appear to look like a bearish wedge that suppose to break to the downside but I have seen stranger things happened before so I can only remain bearish on oil especially at the 43-44 area until it breaks. Remember (MAX already mention this I think) trend is your friend until it breaks.

Now for gold it has fallen from the 1000 area nicely, down to 985 which is a nice 20 dollar pull back. While a rally in the market means weakness for gold especially initially, I think gold wont just keep dropping without a fight, and it does take a while before it turns. so I suspect support at 985 and risk to 977 is a floor somewhere before it turns up again. Who knows when gold decides to top out but I think we are near.

[SilverRex]

update:

BAC premarket now at 4.44 +17%

[eljefe]

Yes Yes Yes !! SCORE

NOVA Chemicals (NCX) announced an agreement to be bought out at $6 US (7.52 Canadian). If you bought it last week you are a winner today. It closed at $1.66 Friday.

[max_boost]

Originally posted by ryeguy252
anyone have any takes on suncor? more as in a hold stock not day trading

Yep. Buy and hold will work for any of the large caps at these price levels. That's not to say you can't get in even lower.


Originally posted by Unikkatil


At what price you planning on selling these?

Roughly $43-$44 oil which SR mentioned is where the resistance is so around $5.50 HOU.

Set your stops though.

Everything is looking good premarket except gold.