Official Short-term Investments Thread

[SilverRex]

^

I say if one is to short it would be at 50 right now the market is right in the middle of no where meaning it could still suddenly fall but at the same time if the market has a persistant rally, then we could see 50 dollar oil.

so after getting out with my stop this morning I will either short at 50 or buy if it dips below 30, yes why dont I short now until 30? its like I said the bull/bears are fighting this one out and I hate to get swallowed up in the swings.

[civic_rida]

In 5 days hod went from 45-30

[civic_rida]

oil went up so fast in the last two days.
We just need some bad news to bring it back under 40.

[e36bmw///]

nm

[sputnik]

Originally posted by civic_rida
In 5 days hod went from 45-30

Good.

I would love to see it below $10 personally.

[civic_rida]

Probably wont happen any time soon.
The contango will kill hou in the long run and help hod.

[bigbadboss101]

Originally posted by sputnik


Good.

I would love to see it below $10 personally.

Man you are negative.

[civic_rida]

Just an oil bull.

[sputnik]

Originally posted by bigbadboss101


Man you are negative.

Not really. $10 HOD means high oil prices which is good for Alberta.

Why get so hung up on HOD when you could just switch to HOU while oil climbs?

[civic_rida]

Or low oil prices so that house prices can tumble:poosie:

[sputnik]

Originally posted by civic_rida
The contango will kill hou in the long run and help hod.

That is assuming that the crude spot day pricing doesn't move along with the futures market.

[civic_rida]

30.39 hod holy

[Z_Fan]

Yeah I don't think HOD is an overly bad buy right now. It's gonna come down, but I think I might wait until end of day to see where it is sitting. Seems unlikely it will go up another $2-$3 tomorrow for a third day in a row...

But hey, who knows... :dunno:

[max_boost]

Well boys, that did not go as planned.

Here's an interesting bit:


Feb. 26 (Bloomberg) -- New York oil may extend a three-day rally if it closes above $44.52, the 34-day moving average for the April futures contract, according to technical analysis by broker PVM Oil Associates Ltd.

“The technical pieces are falling into place for a further move up, but there’s still some heavy-duty resistance to be dealt with,” PVM said in its daily technical report for clients. “We need to clamber over the 34-day moving averages.”

We all know, the higher oil gets, the more room for it to fall. It's rallying based on the markets and optimism of Obama's budget proposals etc.

The markets conveniently ignored this much today:
http://www.bloomberg.com/apps/news?pid=20601205&sid=arIx.1RN42FU&refer=consumer


First-time claims for U.S. unemployment benefits unexpectedly rose last week and total benefit rolls soared to a record high, a sign companies may keep shedding jobs as the recession worsens.

Another report today showed orders for U.S. durable goods fell for a record sixth consecutive month in January. The 5.2 percent drop was more than twice as large as projected and followed a 4.6 percent drop the prior month

Suffice to say, sub $30 HOD will be a good buy but don't be surprised if it gets to as low $24 before turning around.

[civic_rida]

Probably lost 30% in 2 days.
I think some people on here have 40+ hod.

[ckangarloo]

Lets not bring that up.

[civic_rida]

anyones thoughts on hod?

[djayz]

Looking to pick up some HOD below 30.50 if it goes that low again today.


Edit: Looks like it's on the up run. No entry position for me.

[dj_honda]

Originally posted by civic_rida
anyones thoughts on hod?

i think unless this is the big rally for oil where it won't be looking back (i doubt it) it will come back down and hod will be in the green again.

if its a source of stress just sell it for a loss and get it off your mind. i had the same issue with hou before and i just sold it for a loss because it was pissing me off lol.

[e36bmw///]

nm

[SilverRex]

anyone got in HGU? the low 11s was very good place to get in short term as I see 930 and 13 dollar silver to hold for the moment

for those that are still holding HOD

I guess the encouraging comment would be lets hope this is a fake breakout for oil, because just so happens my brother was talking to me yesterday and he spotted a 60 day moving average which is right at 45 dollars. coincident that it rejected the rally thus far?

well I am going to give it one more try at shorting at 44 with stop just above todays high and see what happens.

I still find it hard to believe oil is ready to make a huge rally yet..

[DJ_NAV]

im praying its a bs rally and it crashes even harder

[max_boost]

Originally posted by civic_rida
i just picked up some hod at 30.89 call me an idiot please.

Genius. Sell that shit now. lol

[civic_rida]

I sold at 32.25

[civic_rida]

I believe gdp numbers come out tomorrow.

[e36bmw///]

nm

[Aleks]

Originally posted by sputnik


Not really. $10 HOD means high oil prices which is good for Alberta.

Why get so hung up on HOD when you could just switch to HOU while oil climbs?

:D This is what I am hoping for in the next few years.

I don't have any HOD or HOU but my companys shares/options which are given to me every year go up and down based largely on prices of oil and gas. Had oil stayed at above 100 bux for 2-3 yrs I'd be mortgage free :banghead:

[civic_rida]

Dont you guys have to keep it for a certain amount of time.
Or sell at a certain time.

[max_boost]

GDP numbers will be out tomorrow but will it even matter? lol Housing and unemployment numbers were bad but oil still went up. If oil wants to go up, it'll go up. A lot of people are trading on technicals right now. If it can keep the $44.52 34 day moving average, it'll continue to move up and probably top out at $50.

SilverREx, can you verify the bullish signal if oil stays above $44.52?

With that said I have 3 positions set aside for HOD right now at $30/$27/$24 with no stops because I consider this the bottom for HOD and for oil to not trade past $50. No way in hell haha

[Aleks]

Originally posted by civic_rida
Dont you guys have to keep it for a certain amount of time.
Or sell at a certain time.

I get a bunch every December and I can sell a third every 12 months. I sold a bunch but now it's too late for the ones that vested this december. Gotta wait for them to go up. The positive thing is I got another bunch at a very low strike price :D

[civic_rida]

I must of invested in the wrong oil companies they aint doing to hot.

[Aleks]

Originally posted by civic_rida
I must of invested in the wrong oil companies they aint doing to hot.

Oh no right now we are getting destroyed. Stock is at the lowest it's been since I've been here. Just have to ride it out.

The shares/stocks are given to me for free as a perk. It's basically like free $, when the oil is high because they are worth a lot to me. But, right now they are pretty much worthless.

[DJ_NAV]

fake rally for oil... no reason for it to go up.. but then also no reason for it go down....

[e36bmw///]

nm

[max_boost]

There's an oil rally every month. Just part of the game. Yesterday's entry point was too good to pass up. In hindsight I would have still bought in yesterday. Resistance point plus 50% retracement.

Anyway, oh there are a lot of reasons for it go down. Even at $50 it's inflated. Global economy is contracting at a rapid pace. This is the first recession to hit the entire globe simultaneously. From a supply and demand standpoint, it should continue to go down and bottom out and trade sideways in the $20-$30 range. Demand destruction wins. Buy HOD. ;)

[max_boost]

Originally posted by e36bmw///
roll over is next week right, or 2 weeks from now?

March 13th. First full day tracking May oil futures.

[Unikkatil]

Yah I did not buy any HOD yesterday...

Anyways as for gold you can see that its retracting at the 1000. It seems like its gonna test out the 920 support line. If it does not go below that than we must assume that it will test out the 1000 mark. If it does penetrate the support line though, then expect downward swings to around 700 support.

http://i6.photobucket.com/albums/y209/UnitedBalkans/20090226_gold.png

As for crude oil:
http://i6.photobucket.com/albums/y209/UnitedBalkans/20090226_crude.png

It seems like its gonna test out the $ 50 after breakin the $40. Crude oil inventories are pretty high even if oil stocks are falling. So primary trend might not reverse anytime soon. However in the longer run if it does reverse below the 33 $ then we would see a test of oil at $20-22.

I did not go in at the $34 mark, however I will wait and see how this plays out.

[aklalani]

Originally posted by max_boost
There's an oil rally every month. Just part of the game. Yesterday's entry point was too good to pass up. In hindsight I would have still bought in yesterday. Resistance point plus 50% retracement.

Anyway, oh there are a lot of reasons for it go down. Even at $50 it's inflated. Global economy is contracting at a rapid pace. This is the first recession to hit the entire globe simultaneously. From a supply and demand standpoint, it should continue to go down and bottom out and trade sideways in the $20-$30 range. Demand destruction wins. Buy HOD. ;)

yea but dont buy HOD yet. it could easily reach the $20-$25 mark which would be a great entry point.

[bigbadboss101]

BAC dropped pretty fast.

[djayz]

Just picked up some manulife at $14...better be worth something in a couple years!

[yoda124]

I love BAC.The intraday swings are amazing..

[SilverRex]

come on if oil can get below 44.50 then we have a double top at 45.3 comfirmation

[max_boost]

All eyes on gold and oil right now.

Short $50 oil and long on $850ish gold aka HBU/HGU.

Patience. lol

[civic_rida]

Any thoughts on bac?

[SilverRex]

http://i278.photobucket.com/albums/kk118/genmaster/gold.jpg


this is what I think gold will find support some where on the bottom channel and folks I dont think its going under 800 anymore.

so position your self some where in the 800-850 area. this baby is going to 2000

its over bought and stochastic needs to come way down however short term 930 will hold but I see we will be back into low 800

[SilverRex]

this is it do or die

45 is the 60 EMA on daily chart. it is also down trendline if you take the last two peak.

Im shorrting it one last time with stop to 46.http://i278.photobucket.com/albums/kk118/genmaster/oil.jpg

[jonnycat]

Any thoughts on PTV?

They've released a LOI to purchase Loon Energy, which has $2.75B in cash & assests, in a pure stock transaction.

Current price $0.19, speculating $0.60 if purchase goes through.

[yoda124]

BAC short it.Resistance 5.40 going under $5 tomorrow.Bank rally weaking

[Unikkatil]

Originally posted by SilverRex
this is it do or die

45 is the 60 EMA on daily chart. it is also down trendline if you take the last two peak.

Im shorrting it one last time with stop to 46.http://i278.photobucket.com/albums/kk118/genmaster/oil.jpg

Are you goin on HGU with current price?

[DJ_NAV]

^ I think the graph is for Crude oil.

[SilverRex]

^

yup ive laid out several entrys starting in the 11s, then 9s, then 7s.

looking for all the retracement level to hold when it first hits. gold that would be 930, 903 and 875 for the run decemeber

but if you take the low of 681 to top of 1006, then retracement will be around 880, 843 and 804

I dont think we will even see 804, so if you cross both supports together, then the strongest support lies at 875-880 with risk to 850.

so if your still waiting and you think 930 is too high and you dont want to cash in on the swings, then wait for 875-880

[Unikkatil]

Originally posted by SilverRex
^

yup ive laid out several entrys starting in the 11s, then 9s, then 7s

How bout HOD, you think its gonna go below 30, or is now a good time to enter?

[SilverRex]

^

while oil was scary when flerting with 45, but fortunately its paying off as it looks like a double top right at a trendline. and the break below 44.50 confirmed it, so the sell pressure is on now. look for it to find its way back to the 200 EMA which is 39.53 at the moment.

I wont be surprise if it still wants to hit 35 one more time but after what I just saw last few mins upon closing it has all the technical workings for moving lower

http://i278.photobucket.com/albums/kk118/genmaster/oil2.jpg

[ckangarloo]

Originally posted by SilverRex
^

while oil was scary when flerting with 45, but fortunately its paying off as it looks like a double top right at a trendline. and the break below 44.50 confirmed it, so the sell pressure is on now. look for it to find its way back to the 200 EMA which is 39.53 at the moment.

I wont be surprise if it still wants to hit 35 one more time but after what I just saw last few mins upon closing it has all the technical workings for moving lower

http://i278.photobucket.com/albums/kk118/genmaster/oil2.jpg

SR, what program are you using here?
http://www.stockta.com seems inadequate compared to your charts.

[civic_rida]

Im screwed. Why did i buy bac

[Z_Fan]

Well, at least you made some coin on HOD.

I got stopped out of BAC at 5.55.

I had sold positions today at 5.82 and 5.83 and flipped each twice. Then had to leave for a while, so I set a stop which sold all my shares at 5.55.

I think BAC will do OK tomorrow. I hope. I bought back in at close at 5.31. Here's hoping it doesn't gap DOWN...

[max_boost]

SilverRex:

Let's see if you are right. Your technical analysis contribution has been an invaluable asset to this thread.

Regardless what happens tomorrow I'll be buying HOD. I just need confirmation on a couple things lol

A. Oil continues its uptrend which tells me it's near the max $48 range.

B. Oil falls which tells it's a trend reversal.

Buy low sell high. See you guys at $50 HOD. lol :thumbsup:

[SilverRex]

Originally posted by ckangarloo


SR, what program are you using here?
http://www.stockta.com seems inadequate compared to your charts.

I use www.netdania.com chartstation

[civic_rida]

Sam did you pick up hod?

[max_boost]

^

Tomorrow I will. This rally has lasted long enough. We'll have a better idea of where oil goes as of tomorrow. Upside is limited and will MAX out very soon. We might even see an early morning oil rally and then watch it completely fade out.

[Z_Fan]

Yeah, that's kind of what I think too.

Which is what scares me!

But I might put some money into HOD in the morning if oil shoots up to $35.50+ early on...and then hope for the big crash.

[civic_rida]

im really worried about bac.

[lasthuzzah]

Haven't posted in a while, but I sold everything for a fat profit except for TR.UN which put in a 10% day today :)

(Called a friend who said 'distribution is safe'. So take it for what it's worth). I bought more at 4'ish and if it ever dips down to 3.80's, I'm ALL IN (200K = 52000 shares, ha ha, that would be $5200/month in distributions!!).

It's free money from my house sales so I'm very seriously thinking of doing that. In one year I could make 62K just from the distributions, and in 3 years I would be laughing. I would retire at 40 :)

What do you guys think? I was thinking of retiring anyways, but this way I can stay motivated @ work for 3 more years. (I would work to 'cover' my investment, and then use that $5200/month as savings).

[ExtraSlow]

I think that with $200k and a plan to retire in three years I'd be looking at more diversification than one stock, regardless of what my friend told me.

[civic_rida]

i wish i had 200k to play with lol.

[natejj]

Cashed out of BAC and straight into HOD. I started with 1k, BAC Turned that into 2k.... let's see what HOD does with it. My goal is a 350z :D

[civic_rida]

this month has been garbage.
Lost lots of money

[broken_legs]

Heres a Lottery Ticket:

Anyone remember Falcon Oil (FO on the venture)?

Exxon is drilling a couple of wells in Hungary right now.

Does anyone here know if they are into the appraisal section of the contract yet?

[Z_Fan]

Originally posted by civic_rida
im really worried about bac.

Well, it closed at 5.32 and pretty much stayed there after hours. I'm not sure either, but hopefully it won't go too low. I'm going to see how it opens and then set stops by 7:35AM.

If you bought HOU today, I think you should be more worried. I gotta feeling HOU owners are going to get steamrolled tomorrow.

HOD should be a big winner tomorrow.

[max_boost]

Originally posted by civic_rida
im really worried about bac.


Why? What price did you get in at? Did you set a stop? lol


Originally posted by lasthuzzah
Haven't posted in a while, but I sold everything for a fat profit except for TR.UN which put in a 10% day today :)

(Called a friend who said 'distribution is safe'. So take it for what it's worth). I bought more at 4'ish and if it ever dips down to 3.80's, I'm ALL IN (200K = 52000 shares, ha ha, that would be $5200/month in distributions!!).

It's free money from my house sales so I'm very seriously thinking of doing that. In one year I could make 62K just from the distributions, and in 3 years I would be laughing. I would retire at 40 :)

What do you guys think? I was thinking of retiring anyways, but this way I can stay motivated @ work for 3 more years. (I would work to 'cover' my investment, and then use that $5200/month as savings).

That is insane man! Best of luck to you on that one. 52,000 shares is just under today's volume of 62,000!
:eek:

I would take the $200K and spread it over 3 positions on HOD and try it out there. Oil is nearing its climax, read my next post hehe:thumbsup:

[max_boost]

My HOD chart again :rofl:


Sept 2: $5.30
Sept 16: $7.33
Sept 23: $5.37

Oct 28: $13.25
Nov 4: $10.28

Nov 20: $20.50
Nov 28: $15.30

Dec 05: $25.00
Dec 15: $20.55

Dec 24: $31.36
Jan 06: $16.18

Jan 20: $29.75
Jan 26: $23.13

Feb 18: $47.19
Feb 26: $31.23

http://www.members.shaw.ca/samtang310/big.chart.gif

In the past 3 months, oil has peaked at:

$50.05 Dec 15------>$43.60 close Dec 16
$50.57 Jan 06------>$42.63 close Jan 07
$48.59 Jan 26------>$41.58 Jan 27

http://www.members.shaw.ca/samtang310/oil.gif

Looks like oil just wants to hang around in the $45-$48 range for a couple more days.

I know I will be contradicting myself when I say this but it's a love hate relationship when it comes to stops. The % swings can be so wide on HOU/HOD that there will be times you'll get stopped out and are left there watching it reverse and go higher. I'm a strong advocate for setting stops because it minimizes your downside risk.

Something to consider though, with oil so close to the top, it might be worth it to ride out the wild swings on HOD. That's if you firmly believe in oil topping out at $50 and crashing down to $35 like it has done so in each of the past three months.

1. Set aside 2-3 positions and average down if necessary. I would prefer this method.

2. Set a buy order lower than your stop loss order. Stranger things have happened though. I've been stopped out right on the low price of the day and never get the chance to buy back in. Frustrating indeed therefore I prefer method #1.

Alright, aside from the technicals, the oil bulls are running off this time because gasoline supplies fell 3.32 million barrels. Increase in demand? No. Probably an increase in driving to the unemployment office. :rofl: In all seriousness, part of the explanation comes from a number of refineries closing down their units for maintenance, in addition to the lack of demand, just outright shutting down refineries. This doesn't change my position. We will see $30-$35 oil this quarter. We expected this rally to come and here it is. Sure some of us got greedy, jumped the gun and got stopped out early but this time us oil bears will get our revenge! :whipped:

[max_boost]

Originally posted by Z_Fan


If you bought HOU today, I think you should be more worried. I gotta feeling HOU owners are going to get steamrolled tomorrow.

HOD should be a big winner tomorrow.

Like Morpheus in the Matrix, I believe. While it might not be tomorrow, we have an opportunity in the next few days to lock into HOD at a wicked price. This is the one time where I truly believe we can knock it out of the ball park. Go HOD! :thumbsup::clap:

[djayz]

Originally posted by lasthuzzah
Haven't posted in a while, but I sold everything for a fat profit except for TR.UN which put in a 10% day today :)

(Called a friend who said 'distribution is safe'. So take it for what it's worth). I bought more at 4'ish and if it ever dips down to 3.80's, I'm ALL IN (200K = 52000 shares, ha ha, that would be $5200/month in distributions!!).

It's free money from my house sales so I'm very seriously thinking of doing that. In one year I could make 62K just from the distributions, and in 3 years I would be laughing. I would retire at 40 :)

What do you guys think? I was thinking of retiring anyways, but this way I can stay motivated @ work for 3 more years. (I would work to 'cover' my investment, and then use that $5200/month as savings).

Sounds realllly good and if you think distributions are going to be safe what I would do is reinvest them and pull out your initial investment after roughly 3 years compared to 4 years if you were just to take a cash distribution.
Sounds like an awesome deal but having such a low volume is what kills trusts like this.
I remember a while back I got into tet.un which used to have decent volume and a good share price and good distribution. Now even before all this crazy stuff happened share prices dipped, volume dropped, and distribution got cut in half.

If I had 200k I'd probably put it in TR.UN but would be scared for the day they cut distributions as it'll probably be a double whammy since share prices will get killed.

Just some food for thought ;)

[e36bmw///]

nm

[djayz]

Question:

The distribution is payable on March 17, 2009 to unitholders of record on March 1, 2009. The ex-distribution date is February 28, 2009.

Say I purchased this tomorrow, would I be eligible for the dividend or not since my settlement date will be a couple days away?

[civic_rida]

ooo intresting question.

[max_boost]

Sell on stop.

Enter stop price.
Enter limit price.

Both can be the same.

For example, if HOD is at $32 and you put a stop price of $30 and a limit price at $29.50

It tells the brokerage to sell HOD if it falls to $30 and you'll want at least $29.50 or better.

Hope that helps.

[djayz]

I already went through this once with someone and I had it all figured out. I was buying the stock a few days before and selling out right before the day of distribution because that was the day everyone would buy in and drive the price up 5-10%. I wouldn't get the distribution but getting 5-10% every month was better than the 10% it was yielding annually haha

[civic_rida]

yea but why wouldnt u set your stop at 30 dollars and your limit at 29.95

[djayz]

Or just set your stop at $30 because thats what you want out at.

Best thing to use it trailing stops as it will auto adjust for you if it goes up. But with the stocks that go down then rebound you just get stopped out of it anyways.

[civic_rida]

Does ex-distribution date mean if you sell the stock on this date you will still get the distribution

[e36bmw///]

nm

[djayz]

Originally posted by civic_rida
Does ex-distribution date mean if you sell the stock on this date you will still get the distribution


The ‘Ex-Distribution Date’ is set by the Toronto Stock Exchange as two trading days prior to the ‘Record Date’. To receive an upcoming distribution, investors must buy a distribution-paying unit one day before the ‘Ex-Distribution Date’, not on the ex-distribution day. To receive a declared distribution even though selling a unit, the unit must be sold on or after the ‘Ex-Distribution Date’.


To qualify for an upcoming cash distribution, unitholders must be on record by this date. Enrollment information will take time to reach the transfer agent, so investors should purchase units two days ahead of the ‘Record Date’.





Originally posted by e36bmw///
cool thanks max boost

what if hod was at 32.

I wanted to sell it at 35. But want to put a stop loss at also

how would i do that?

Put a limit order at 35 so once it hits 35 it sells.
Put a stop order at say 30 so once it hits 30 it will sell.

More info with good examples at CLICK (http://www.investopedia.com/ask/answers/04/022704.asp?viewed=1)

[max_boost]

Good call djayz.

Buy it the day before the ex-dividend date if you want to get the yield. Or buy it two days before the ex dividend date so you can cash in on the day before the ex dividend date when the shares spike.

http://www.investopedia.com/articles/02/110802.asp?viewed=1

Example:

Friday 2nd. Buy stock on this day.

Monday 5th. Must buy shares on this day if you want the yield. So this is the day the share price usually spikes because people buy in so they can get the dividend. If you do it djayz style, you would sell on the spike because the spike yields greater returns than the dividend (at least that's how I think it works).

Tuesday 5th: Ex dividend date. Stock trades without dividend.

Wednesday 6th: Stock trades without dividend.

Thursday 7th: Date of record. So if you bought on Monday, you'll be on the books by Thursday, 3 business days to clear for settlement remember?

http://i.investopedia.com/inv/articles/site/exdiv.gif

[max_boost]

Originally posted by e36bmw///
cool thanks max boost

what if hod was at 32.

I wanted to sell it at 35. But want to put a stop loss at also

how would i do that?

I know exactly what you mean haha

TD will let you do it but RBC won't!

You want to capitalize on a morning spike and hopefully sell out near the top right but if that doesn't work you want to gtfo if it hits your stop hehe

[rizfarmer]

Originally posted by max_boost


I know exactly what you mean haha

TD will let you do it but RBC won't!

You want to capitalize on a morning spike and hopefully sell out near the top right but if that doesn't work you want to gtfo if it hits your stop hehe

So what's your position on HOD? didn't know you were much of a trader...

[djayz]

Yah Max, the buy before ex-distribution date was great, but volume on this stock has died down so much I've been caught on it a couple time and have had to hang in. It's not to bad though since it's yielding about 10% annually but share prices have dropped so it evens out to 0 anyways.

And I'll say it again, use trailing stop orders for a stock thats running bullish. It will automatically raise the stop everytime the stock hits a new high. Basically you set a percentage you want to stop out at so 6% or a dollar figure say $.25, as the stocks hits new highs the stop gaps up and keeps the 6% or $.25 buffer. If and when the price drops the stops are set in place and are hit if necessary if not and the stock starts making another run and setting new highs the stop keeps gapping up.

Great for stocks that have a bullish trend going. There's also a way to do this on the buying side if a stock is bearish, another good way to get into a stock when its falling and hopefully catch it when it rebounds.

[max_boost]

Originally posted by rizfarmer


So what's your position on HOD? didn't know you were much of a trader...

Buy HOD below $30 if you can. It's going to be volatile and it *might* hit as low as $24 before bouncing back. If you can, spread out 3 positions, $30/$27/$24. Thank me later when it hits $40-$45 within the next 10 trading days.

Can I guarantee the above? No because I can't tell the future but I'm dumping 3000 shares into this bad boy because I believe.

:drama:

[Inzane]

Originally posted by max_boost
I'm dumping 3000 shares into this bad boy because I believe.

:drama:

$90K worth?? :eek: :eek:

I thought I was living dangerously picking up 150 @ 30.50 today. (yeah, I'm a little gunshy now after getting killed on HOU last week... :facepalm: )

[Unikkatil]

Sorry if I am being nosy as I am new to this side of the forum ( or any side really), but how old are you guys?

[yoda124]

holy bejezus bac huge gap down.

edit citi taking a ~40% haircut this morning to all time low.

[civic_rida]

People are so concerned with these banks being nationalized.

[SilverRex]

friday

unfortuantely I will be gone for a few hours this morning but as I write this 7 am, everything is playing out technically.

gold has bouced off low 931.8 (called 930)and now in the 960 area which is providing 1st resistance as its retracement, I suspect it should have enough momentum to at least hit 970-977 area

as for oil it too is coming down hard just the way I saw it after hitting a double top at 45, a trendline and 60 day moving average, it is also the upper channel, the bear force is with this one now its under 43, with support first to land at 41.50 as our uptrendline. oil will need to break 41.50 and stay below in order to make another move back towards its 200 day at 40

it will depend how it reacts around 40-41.50 that will determine if price can swoon further to next support around 38 and 36

good luck

premarket looks very weak, could we finally see a new low today?

[Z_Fan]

HOD two dollar gap up. HOU .40 gap down.

BAC gapping down $1.20 or more. Wow.

Not happy about having bought in at close. Didn't think it would gap that much. Good buying opportunity again today if it dips in to the 2's.

[civic_rida]

I think im going to hold on bac.
What is happening with citi is not that bad i think people are over reacting.

[e36bmw///]

nm

[max_boost]

Originally posted by SilverRex
this is it do or die

45 is the 60 EMA on daily chart. it is also down trendline if you take the last two peak.

Im shorrting it one last time with stop to 46.

Fantastic call. Fantastic call. WOW!

Again! :thumbsup:

[Unikkatil]

Hey max last night you said you would buy up some HOD this morning, are you putting any orders yet and at what price?

[max_boost]

Yeah I just bought some at $32.50, still being patient though. Just waiting for HOD to pull back some more. I've seen this scenario unfold before. I won't be convinced oil is dead until it makes a run at $50 oil. I wouldn't be surprised if oil pars itself for the day or even close up. I know it doesn't make a lot of sense but oil does its own thing. I've seen oil rally to positive territory after being down on horrible economic data before so it's definitely possible.

Hopefully for entry into HOD, buy under $30. Position yourself at $30/27/24 or adjust accordingly.

Good luck trading.

[bigbadboss101]

Ok, what to do today? Yesterday I repurchased BAC after I sold for profit. Also sold my HGU and now it's up. Sold a position of HOD. Now got some $ to spend.