Official Short-term Investments Thread

[interlude]

sweet.. pcq is picking up. congrats to those who bought in the 60s.. or those who bought more in the 60s :)

[yobi5888]

Thanks Rat.

[Rat Fink]

.

[broken_legs]

Thanks Rat!

[Z_Fan]

I bought PCQ at .88 just before it dropped to the sixties. So I'm happy it has recovered, but if I would have bought it just a couple days later, I'd be a lot happier.

I only have very small number of shares though. So it doesn't really matter that much...

Meanwhile, I'm sure it will hit $1 when it opens up next.

[Supa Dexta]

I wish I had posted this sooner, but this company has a new oil which is supposed to be completely biodegradable. GETG,

http://www.getg.com/products/products.php?CategoryID=1&ProductID=1

http://finance.yahoo.com/q?s=GETG.PK

it had a good jump today, any thoughts on it? I wish there was a pull back soon, I'd dump some money on it, I'm still half interested as it sits with projections though...

[broken_legs]

Sold my Schlumberdog today... 109.22

Hoping it will trade a little lower again to around 103 before they release earnings in July

[broken_legs]

Everything is DOWN today

Oil is UP, i would have tought that the TTEN would be up but even its down

[broken_legs]

Wow, the DOW and TSX are getting their asses kicked today!

Tomorrow they release job stats in the US

Maybe everyone thinks its going to be bad...


Anyone have ideas on what will happen tomorrow?

Charts' not looking to good to me

:eek:

[Mckenzie]

I think the 400 pt drop is close to the drop that we experienced in January....one of the bigger ones I have seen for sure. This will be good to get the hot air out of some sectors that have had crazy run ups.

I am glad I sold 85% of my PCQ today at $1. Looking for bargains now.

[bigbadboss101]

PCQ is making me cry, along with IXS, PAN, JML, CAJ, INL.

[Rat Fink]

.

[broken_legs]

So I bought back my SLB at 1.01 today...



Also bought a little Suncor too

[Shaolin]

VMS had a pretty decent NR, but it didn't move that much.. hmm..

[Rat Fink]

.

[liquid1010]

Anyone here have any opinions on NVDA and COKE. I think NVDA problems are short term, and may be looking at LEAP Calls..... Thoughts?

[KappaSigma]

RAT PM me your cell. I forgot mine at home.

Have some tasty JML news for you.

[SilverRex]

Originally posted by liquid1010
Anyone here have any opinions on NVDA and COKE. I think NVDA problems are short term, and may be looking at LEAP Calls..... Thoughts?

duno much about coke but you ar right NVDA looks very atrractive considering their name, market share and debt free.

not to mention they trade forward earnings of 7.0 that is dam low. hence bought quite a bit at 12.50 :) it can dip to 11.40 just because that is its support but it can also rocket 10-15% higher because its way oversold and undervalued.

the only draw back, you may have to hold it alittle longer term before you see a good return, have to wait patiently for that next breakthru or chip or what ever else. Who knows, maybe someone comes in a scoup them up? Intel? haha

Nok is a good bet, pays dividend, near its .6 retracement, quite oversold if you ask me, the moment market can rebound (no one knows for sure) it will be back up to 28-29

over all I think the market is ready for a quick rebound, we are in July earning season again, after that its 2nd half where everyone predicted the rebound to start. and I truely believe oil price bubble will about to burse, probablly waiting for a touch off at 150, then back to earth 100-110, thats when I'll buy snatching up some USO at around 70-80 and hold it for longer term

[liquid1010]

Originally posted by SilverRex


over all I think the market is ready for a quick rebound, we are in July earning season again, after that its 2nd half where everyone predicted the rebound to start. and I truely believe oil price bubble will about to burse, probablly waiting for a touch off at 150, then back to earth 100-110, thats when I'll buy snatching up some USO at around 70-80 and hold it for longer term

I think I might jump into NVDA as well right now. The stock dropped due to a news release about a replacement warranty hit of like $200M.... but that's a one time deal.

I think Oil bubble will sustain itself throughout the summer, but we might see it start to dwindle in the fall. So much of that depends on legislation relating to Oil futures trading, etc.

I bearish on the market over the next while (mid to long-term), and think we will see the market move sideways at best over the next 2 years. Anyone have any suggestions for countercyclical stocks..... I was in EP.UN but traded out.... and am looking at COTT, COKE, NVDA, LQW, right now.

[djayz]

WTF!!!!!!!! :banghead:

[Mark_Nguyen]

Originally posted by djayz
WTF!!!!!!!! :banghead:

i just wish i had more money to buy. So many discounts right now

[rc2002]

If you wait a bit longer, it might get even cheaper.

[Shaolin]

Anyone flipping VMS over and over again? :D

[SilverRex]

official rebound for US equity. though I want to see DOW closes above 11400, anyhow BAC was sweet today, rallying 10% from its low. thank goodnews I went full force at 22 dollars :), kinda makes you wonder why these level are so true to its own, 22.58 was its 59% drop from high, coincidently BAC dropped that much back in 1990 and 2000 only to rebound to new high.

so I continue to have faith in the long hual and the 8-10% dividend just adds to it so much.

Visa I was disapointed, had all my buy stop placed at 70 but it got to only 72.25 then rebounded 11% fcuk. Oh well, I'll be patient.

time to pick up some cheapos, DIS, NOK, SNDK,DIVX, SBUX

[rc2002]

Who's holding HAT still? It's up 20% from yesterday as of right now.

[broken_legs]

Anybody think OIL is about to go for a run to 150?


Iran just fired off a missile today,oil has come down quit a bit from 145 and there is this story today from the G&M:



U.S. crude stockpiles fall sharply as imports drop, demand soars
10:53 EST Wednesday, Jul 09, 2008

--------------------------------------------------------------------------------
Advertisement



Hide advertisment


--------------------------------------------------------------------------------


NEW YORK — U.S. crude oil stockpiles fell sharply last week on a renewed drop in imports and as U.S. refiners boosted demand while gasoline inventories rose unexpectedly, government data on Wednesday showed.

Commercial stockpiles of crude oil in the United States fell 5.9 million barrels to 293.9 million barrels, the Energy Information Administration said in its report for the week ended July 4. The decline was more than triple the average estimate of a draw of 1.8 million barrels in a Reuters poll of analysts.

The drawdown came as U.S. crude oil imports averaged 9.55 million barrels per day last week, down 621,000 bpd from the previous week, and as domestic refineries saw crude runs rise by 75,000 bpd to 15.49 million bpd.

U.S. gasoline supplies, meanwhile, rose 900,000 barrels to 211.8 million barrels last week, running counter to projections that supplies of the motor fuel would be down a modest 200,000 barrels.

Inventories of distillate fuels, which include diesel and heating oil, increased 1.8 million barrels to 122.5 million barrels, nearly matching the average projection for a 1.9 million barrel build in the Reuters poll.




I'm thinking of buying some HOU this morning. I'm thinking oil wants to run to that 150 dollar mark soon.


http://i274.photobucket.com/albums/jj259/broken_legs/HOU-T.jpg

[SilverRex]

^^^ anything can happen

but

other than that trendline, I'm feeling oil is due for one last break lower (back to 100-110) before running towards 150-200

just because other indicators are all pointing bearish

right now it is at 135 and if it breaks, it will test 130 trendline which is the final hurdle for a true meltdown

real world price should be 110 anyways, the 40 dollar+ is all speculative driven.

US is due for a rally, with election and crap. I'm betting my money oil will drop but it can only mean a few good things, strong US dollar, rebound in equity and when the time is right I'll throw all my money back in USO once it lands at the right price.

[liquid1010]

Did some analysis on NVDA, and this thing is seriously underpriced. As soon as I have funds available, that will be my next purchase. They have basically no-debt, and amazing free-cash-flow. Even if they average zero sales growth, they are still worth almost their current price.

They have to take $200m hit for warranty work, but that's just a one time deal.

[broken_legs]

I think you are right that oil is over priced, but I also think that they are going to try and run it up to 150. It seems like 150 is that psychological barrier that we have to get to.

Were coming into summer driving season, theres a HURRICANE out there right now. etc. etc.. I think theres still lots of speculative room for oil and gas to move right now.

I set my stop at 39 dollars so if the trend breaks im out.




Hurricane Bertha begins to weaken in Atlantic
Reuters | Wednesday, 09 July 2008
Email a Friend | Printable View | Have Your Say
Reuters

BIG GIRL: Hurricane Bertha is pictured over the Atlantic Ocean in this NASA satellite image.
Related Links
Subscribe to Archivestuff
Have your say
Advertisement
Click Here!
Advertisement

The first hurricane of the 2008 Atlantic storm season has begun to weaken in the open Atlantic as it heads in the direction of Bermuda, US forecasters have said.

Hurricane Bertha, which on Monday became a powerful Category 3 hurricane on the five-step Saffir-Simpson scale, had slipped back to Category 2 strength with top sustained winds of 165kph by 11am, the US National Hurricane Center said.

"Additional weakening is forecast during the next 24 hours," the Miami-based centre said in an advisory, adding that cooler waters, dry air and unfavourable atmospheric winds conditions were affecting the storm.

The centre's hurricane experts said Bertha had also begun a turn that would gradually take it to the north, signalling an increased likelihood that the US East Coast would be spared a hurricane or tropical storm strike.

The Gulf of Mexico where the United States produces a third of its domestic crude oil and a large chunk of its natural gas was well out of the firing line.

[liquid1010]

This thread has really died off.....

[liquid1010]

This thread has really died off.....

[djayz]

everybody is probably in hiding with the way the markets are...not to mention nice weather and its summer

[SilverRex]

Originally posted by liquid1010
Did some analysis on NVDA, and this thing is seriously underpriced. As soon as I have funds available, that will be my next purchase. They have basically no-debt, and amazing free-cash-flow. Even if they average zero sales growth, they are still worth almost their current price.

They have to take $200m hit for warranty work, but that's just a one time deal.

yes, the saying goes, in a bear market, stocks are generally oversold and undervalued, in a bull market, stocks are overvalued and overbought.

NVDA does have its share of trouble and recently article suggest, if they are worth 11 dollars then AMD is doing something right to steal those market share, hence AMD at 5 or below is a great buy too. kinda a nice hedge and which ever is truely undervalued will spring to life first then you just take your profit and run.

I have my eyes on BAC even though Iknow they will cut dividend, but the are due for a gap up back to the 50 moving average near 29. So im crossing my fingers for a 20% pop and im out.

[liquid1010]

Originally posted by SilverRex


yes, the saying goes, in a bear market, stocks are generally oversold and undervalued, in a bull market, stocks are overvalued and overbought.

NVDA does have its share of trouble and recently article suggest, if they are worth 11 dollars then AMD is doing something right to steal those market share, hence AMD at 5 or below is a great buy too. kinda a nice hedge and which ever is truely undervalued will spring to life first then you just take your profit and run.

I have my eyes on BAC even though Iknow they will cut dividend, but the are due for a gap up back to the 50 moving average near 29. So im crossing my fingers for a 20% pop and im out.

I'll have to check out BAC - although there is so much debate right now as to if Financials are near their bottom or not. I'm not convinced they are, but it's impossible to time a pure bottom anyway. Averages say that Bear markets drop the index by about 30%, so we may still have a ways to go.

I did look really quickly at AMD, and from what I can tell I don't think they are stealing NVDA's market share. It seems that people are worried that NVDA's growth will slow, which I'm sure it will... but I don't think anyone expected 20% continued revenue growth. They just seem to churn out solid earnings with an amazing margin... so I'm timing my options purchase with them since I don't have the available capital for actual shares.

SilverRex - do you have a link to that NVDa article?

Anyone have any shorts on their watch list?

[jlabr]

Hello.. do not have any holdings right now but just received some commissions and was wondering if anyone had any suggestions for buying????

It seems like this isn't the best time for investing in the market but i hate leaving cash in a TD savings account.

Thx.

[Mark_Nguyen]

Originally posted by jlabr
Hello.. do not have any holdings right now but just received some commissions and was wondering if anyone had any suggestions for buying????

It seems like this isn't the best time for investing in the market but i hate leaving cash in a TD savings account.

Thx.

This is the perfect time to invest. It's practically a sale all across the board. I just wish I had more money to dollar cost everything.

[liquid1010]

Originally posted by Mark_Nguyen


This is the perfect time to invest. It's practically a sale all across the board. I just wish I had more money to dollar cost everything.

ummmmm :eek:

I would beg to differ. It's very risky right now, and you have to be extremely careful. The market is extremely volatile, and we may be on the edge of a global economic slowdown. It may not happen.... but it's far from the perfect time to invest. Many major funds are up to almost 25% cash.

[broken_legs]

So did anyone buy into the oil story on Wednesday?

Looks like oil hasn't lost its legs yet

Aug Oil closed at $141.00 today

I'm going to sell my HOU when oil hits $150

[broken_legs]

wow

oil opened over 147 dollars this morning, still trading above 144 right now..




Does anybody watch the VIX-I ?

Looks like its about to predict the bottom again... I see it usually gives a trading day or two heads up.

[bigbadboss101]

So how about the juicy news regarding JML? Good that I didn't bite.

[troyl]

Originally posted by bigbadboss101
So how about the juicy news regarding JML? Good that I didn't bite.

I am with you on that bigbadboss! Dropped large again today.

[djayz]

SLAUGHTER!

damn financials!

[khtm]

Now if NVDA was a good buy a week a go it's a GREAT buy now.

[SilverRex]

Originally posted by khtm
Now if NVDA was a good buy a week a go it's a GREAT buy now.

im loading up on visa below 70

[SilverRex]

what a wild day today.

dropped the hammer on visa at 66.90 and feeling pretty good. though the market is weak and I can see if whipsawing for a while. But I do believe the short term bottom is in. if DOW can crack 11400 then we will have a 10-20% rally across the board.

BAC already started theirs with 22% gain today.

[bigbadboss101]

Yeah got a couple shares of VISA today. Was gonna get BAC yesterday but...

[Schwa]

Picked up 50 shares of DVN today

[SilverRex]

wow Fannie Mae was insane this week, luckily I cashed in this morning :)

back to visa

[Schwa]

Nexen getting hammered. Might buy some of that

[SilverRex]

congrad if you bought BAC.

im out

short term market rebound. DOW has passed the all important 11400 mark and we should see much of a lift in coming weeks. though it will be quite volatile each day because of earnings report.

look not to hold too long, take your profit and wait for same entry and you will continue to see it whipsaw daily.

I think BAC's recently run is done and overbought

Ultimately lets wait for oil to topple back down to 100-110 then I would suggest holding long on USO which should be between 70-80 dollars. We will prosper then for a run towards 160 as oil price climbs back above 150 in a year or two

[SilverRex]

i just picked up nvda at 11 dollars

i see too many upside potetial with this stock

here is why

-low forward P/E making this stock cheap
-recent earning warnings pushed this stock 30% which I think is more of a panic then reflect true value
-low stock price could pave way for buyout from intel rumor
-any market rebound will lift this stock immediately
-no debt, loads of cash
-any new product introduction will also boost
-could be a short term pop or long term gain
-heavily oversold technically
-recent AMD weakness = nvda gain

just watch I see it poping to 15 technically, though I may take my profit and buy on dips because that market right now is that volatile


:thumbsup:

also picked up sndk just because last 5 years it has always move higher between jul-aug so with the recently weakness I see it poping towards 21 as well. im crossing my finger it will retest low 16 for a better entry

[broken_legs]

Hurricane D approaching GOM oil Rigs...

China to stop all cars from driving for 3 weeks approaching Olympics

US in talks with IRAN

Bush pushes for offshore drilling

dum dum dum....!


BOA report big losses but not as big as everyone thought

Financials are OVERBOUGHT?


Should be an interesting week!

[broken_legs]

Nancy Pilosi blocks house vote on US Offshore Drilling!

Hurricane D!


AAPL disappoints big time!

Markets open lower tomorrow?

[Canmorite]

Originally posted by broken_legs
Nancy Pilosi blocks house vote on US Offshore Drilling!

Hurricane D!


AAPL disappoints big time!

Markets open lower tomorrow?

Dow off 100 points right now.

http://www.bloomberg.com/index_americas.html

I don't think we'll break the lows of last week, but a retrace lower wouldn't be bad. I'm thinking a temporary bottom is in place, to shake out some weak shorts. Or perhaps a new leg up? ;)

[broken_legs]

found this on Bloomberg:


Enlarge Image/Details

July 21 (Bloomberg) -- Venezuelan President Hugo Chavez heads to Moscow today to shop for air defense systems, submarines and other weaponry as Latin America's arms race quickens amid signs that his regional influence is waning.


Who cares about Iran, Venezuela is going to start some shit right here in America! Oil to 200 Dollars?

[Legless_Marine2]

Originally posted by broken_legs


Who cares about Iran, Venezuela is going to start some shit right here in America! Oil to 200 Dollars?

Yeah!!! He's gonna attack the US with his air defense and Subs!!

[broken_legs]

Originally posted by Legless_Marine2


Yeah!!! He's gonna attack the US with his air defense and Subs!!

When I said America, i meant as in North and South America(s) not that Venezuela would attack the US.

Venezuela and Columbia could be starting an arms race in South America. Any military action in around that area could disrupt oil shipments from Venezuela. V is the 5th largest producer of O&G in the world right now.

[broken_legs]

Bought some Aug 80$ calls on Visa this afternoon for 1.65

Closed at 2.00 about 45 minutes later. Judging by my after hours thermometer tomorrow should be a good day.

I'm looking for oil to go down or sideways, us markets to go up.

[SilverRex]

Originally posted by broken_legs
Bought some Aug 80$ calls on Visa this afternoon for 1.65

Closed at 2.00 about 45 minutes later. Judging by my after hours thermometer tomorrow should be a good day.

I'm looking for oil to go down or sideways, us markets to go up.

yes I'm holding quite a bit visa going in to earnings as well. I Believe short term based on what I see the markey should be bottom out,

my two key holdings is NVDA/VISA

nvda this article just confirms what I believe about it
http://seekingalpha.com/article/87061-nvidia-s-long-term-prospects-mean-it-s-currently-undervalued?source=yahoo

hopefully oil can take a plunge to 100-110 since all technical points that way and I will have my eyes set on USO at 70-80 dollars.

[Pacman]

I usually trade options and rarely buy the underlying stock....but I did pick up some shares of ACQ.UN (Auto Canada Income Fund)the other day.

I have watched this stock drop from $12 to $4 over the past year. They pay a $1 dividend......so even if the stock stays at $4, you are getting a 25% return per year, assuming they continue on with the regular cash distribution.

[Canmorite]

Originally posted by Pacman
I usually trade options and rarely buy the underlying stock....but I did pick up some shares of ACQ.UN (Auto Canada Income Fund)the other day.

I have watched this stock drop from $12 to $4 over the past year. They pay a $1 dividend......so even if the stock stays at $4, you are getting a 25% return per year, assuming they continue on with the regular cash distribution.

Watch out for the 'yield trap'. Plans to cut the divy may be coming down the pipeline...

[broken_legs]

Originally posted by SilverRex


yes I'm holding quite a bit visa going in to earnings as well. I Believe short term based on what I see the markey should be bottom out,

my two key holdings is NVDA/VISA

nvda this article just confirms what I believe about it
http://seekingalpha.com/article/87061-nvidia-s-long-term-prospects-mean-it-s-currently-undervalued?source=yahoo

hopefully oil can take a plunge to 100-110 since all technical points that way and I will have my eyes set on USO at 70-80 dollars.

I just bought some more calls on Friday at the open when I saw oil trading lower...


I'm pretty sure when the economy isn't doing well people will be moving towards their credit cards to pay for small things that they can't come up with the cash for.

Also I like Visa because it isn't exposed to any credit risk. I think that energy is too volatile and the same with financial so if Visa pulls off some better than expected numbers on Thursday we'll both be pretty happy :) I think MC has their results out on the same day too

[broken_legs]

:eek: Dow is getting its ass handed to it again...

Oil is UP, but looks like it just broke the trend and is on the way down

[Pacman]

Originally posted by Canmorite


Watch out for the 'yield trap'. Plans to cut the divy may be coming down the pipeline...

I agree 100%. It's a gamble but worth a shot.

It's not like my options strategy has been working out lately.

[liquid1010]

Anyone looking at an options "straddle" on VISA? Their earnings are will be looked on as a strong indicator, so depending on options prices (haven't checked them yet), a straddle may work well given the overall market volatility.

[SilverRex]

Originally posted by liquid1010
Anyone looking at an options "straddle" on VISA? Their earnings are will be looked on as a strong indicator, so depending on options prices (haven't checked them yet), a straddle may work well given the overall market volatility.

the defining moment is when price either close above 75 or below 70.

lets hope it closes above 75

i have two position in visa,

i'm going to attempt to the the following with one of the position

My position averages in about 71 dollars right now.

I will sell both at 80 (moving average)
buy back at 75
sell at 85
buy back 80
sell at 90
buy back at 85
sell at 100
buy back at 90
and hold

or if price closes below 70 I will sell both and buy back one position at 65 and one at 60 if it falls that far.

[liquid1010]

I've asked this before... but I don't want to go back through countless pages of info. Where can I get a breakdown of Earnings release dates?

[broken_legs]

Originally posted by liquid1010
I've asked this before... but I don't want to go back through countless pages of info. Where can I get a breakdown of Earnings release dates?


I use Globe Investor. They have a link for each stock "calendar"

Shows you all of the estimated earnings release dates, what the analysts are estimating, all previous estimates and actual earnings etc..


They also have a nice little calendar feature for the general market that gives you a heads up on things like durable good numbers, interest rate announcements, oil inventory numbers etc...

[SilverRex]

Originally posted by liquid1010
I've asked this before... but I don't want to go back through countless pages of info. Where can I get a breakdown of Earnings release dates?

I goto briefing.com or earningswhispers.com to get some info on dates

[SilverRex]

great rebound today for market.

Kinda worried there for a moment.

now Visa chart looking better, I hope we can see it break 75 today, I rather see it surge before earnings just so I have that cushion.

But im more confident with Visa that it will reach 80, lets see if my plan works here.

Good timing with the KeyBanc Capital Mkts with a coverage to put Visa at buy at 94 dollars target. :)

Also bought some siri at 1.55 today. totally oversold, looking once the sell of is complete, the future prospect that it will make money in 09 should push this back to 2-3 dollars.

[bashir26]

made some good money on:

TRLG
NVDA
XLF

I had Myrill and lynch but just sold it off. They have been on and off the entire day. There options on the other hand have just been going down.

I've shorted Haliburton and I'm making some good money on it so far.

[broken_legs]

VISA finishes in a big way over 75 dollars in the last 15 minute rally of the day.

I sold 25% of my options in the last 5 minutes into the rally. I'm way in the money now on my calls, and technically it looks like visa should be moving higher soon before earnings, but I just don't trust this market with 200 point swings day to day.

[SilverRex]

Originally posted by broken_legs
VISA finishes in a big way over 75 dollars in the last 15 minute rally of the day.

I sold 25% of my options in the last 5 minutes into the rally. I'm way in the money now on my calls, and technically it looks like visa should be moving higher soon before earnings, but I just don't trust this market with 200 point swings day to day.

agreed and I dont think the payroll/unemployment number will be that much better either, eitherefore hopefully we get another rally tomorrow and I will unload most of my holding and wait for another opportunity.

[bashir26]

MER is a good stock to watch. It went up 8% for me today. If they keep writing off their assets there stocks are going to get higher and higher. I'd also watch out for Citibank, they might follow in MER direction.

Visa is where everyone wants to be right now.

Can someone give me the quick explanation on how to trade options?

[broken_legs]

Originally posted by bashir26
MER is a good stock to watch. It went up 8% for me today. If they keep writing off their assets there stocks are going to get higher and higher. I'd also watch out for Citibank, they might follow in MER direction.

Visa is where everyone wants to be right now.

Can someone give me the quick explanation on how to trade options?

I trade options through TD Discount Brokerage online.

Don't need anything special, just a normal non margin account.

[Pacman]

Are any of you sophisticated options traders doing things like Iron Condors and Iron Butterfly positions?

If so, I would like to know what you are doing. I've been doing some Iron Condors with SKF and AMGN.....but not sure if I've got the correct strategy.

[broken_legs]

HOLY CRAP.


My internet connection at the rig was too slow! I put in a sell on my calls at 3.60 and Visa dropped from 78.xxx back down to 76.xxx

dammit.

[broken_legs]

well i got scared after the oil inventory numbers came out and the DOW started to sell off.

I unloaded all of my options today around 2.65-3.10 and my average was around 1.55. Walking away with a healthy 95% return in about a week.

Then bush gets on TV and says he lifted the offshore drilling ban... :banghead:

oh well, no one ever went broke taking profits.

[liquid1010]

Bull Spread on Visa? I'm thinking about it right now.....

[SilverRex]

just as I thought, the break above 75 made visa head straight to 90. But since I notice the 50 day moving average is just a dollar below, I exited at 78.75,

and to my amazement, it went to 78.90 and did a full reverse back to 74xx,

anyways over all I believe in Visa so I bought back half my position at 75 and see what happens. If Visa can continue to beat the street, I believe 100-110 isnt out of the question, especially if you look price projection technically from 55 to 90, the support we formed at 70 will lift it beyond 100.

in the event they miss or come out with a weaker outlook, then we will see 60 dead on pretty soon or even in the 50s

[broken_legs]

HOLY CRAP VISA JUST HIT IT OUT OF THE PARK

47 Cents was expected

They just reported 59 cents

I think i'll be back in tomorrow morning

[SilverRex]

^

yeah I almost panic and sold before earnings. Anyhow even if Visa drops the overall sentiment is bullish for this stock Iwill continue to trade according to the technical ysupport levels.

funny thing is I dont think I'm a stock expert, but somehow since Visa IPO all my prediction was bang on,

the 70-80 breakout, the 90 to 80 drop, the 75-88 rebound, the 68-70 final support level. I had post on yahoo forum for months about all of these (proof)

The only thing that I had no idea is if Visa really can show the numbers to back up the price. But my assumption is correct, no matter how bad the US market becomes, actually more people will use credit card considering now they cannot use their home equity which they have none. The only time Credit card companies will get ruined is when Gov steps in, change the rules of the game or the world recession collaspe.

I'll be holding my position into 85-88 territory. I do believe we will see pass 90 finally, but there should be someinteresting fighting around that area so I will take my profit and wait for a pull back. Or buy some more when it lands around 75-80 which will be the new support for the next leg up beyond 90.

the US has ways to go to recovery, therefore this actually helps Visa because it will drag Visa down and you know what happens when good company stock becomes valuestock, you buy low and sell high.

Visa is quite overvalued, but recent result will no doubt help cast half the doubters away. Google was overvalued at 100 when it IPO as well yet it went on to becoming a 7 bagger. Mastercard was 6 bagger. I'll be laughing if Visa can just hit 2x

[broken_legs]

OK

I watched Jim Cramer again today...


He is calling the BOTTOM. I've never seen him cut up so many foam bears in one show before. There was a sword, a deli meat slicer, he was biting their heads off.

He made some good points, like the equity offering from Merryl being the blue print for all of the other banks to get rid of the CDO problem

I want to believe it, the market acted way differently today than it has for the past few weeks, but I just don't know.


I'm going to try and play some Visa in the mroning and see how things go.


Also, thanks to insight from Cramer, I'm going to fish out some good option positions in RIMM-Q. They are coming out with 3 new phones in the next three months. He made a great case for RIM on why it should do what AAPL did on the run up tot he 3G phone release. Apparently thye have the new BOLD blackberry and a THUNDER iphone killer and one other phone thats supposed to be the motorolla killer.

Does anyone here follow RIM closely?

My Stockchase litmus test says BUY haha

[Canmorite]

Jim's calling a bottom? Definitely time to sell...

haha.

[SilverRex]

haha some crazy action on visa/MA this morning.

both Visa/MA beat estimate however MA posted a loss due to lawsuit with AXP and MA tanked 10%

panic selling on visa to 71xx, manage to double my position at 72 dollars.

climbing again

I still see Visa to break thru the cloud on 80 technically it tested the upswing trendline at 72, and needs to hold its head above 75 today to resume bullish sentiment.

go Visa go

[broken_legs]

crap... I just got out of bed as Visa is bouncing back to 75...

[liquid1010]

Visa's action has just been plain wierd. Too many people just speculating on that.......

I'm glad I didn't jump into that Bull Spread like I was going to......

[natejj]

Anyone done any research on SkyGold Ventures (SKV)? A BC Junior Mining company with some large gold deposits. Just completed financing for 12 million..... might be a good buy at its current price.

http://www.skygold.ca

[broken_legs]

:banghead: Stupid Markets


I got into Visa calls again in the last hour

Looked like Visa was going to make a move towards 75 dollars at the end of the day, but then the dow took a huge dive off the deep end in the last 15 minutes...

There were a couple of big buys towards the end, one took it up to 93 dollars??? Must have been an odd lot trade or something

[SilverRex]

Originally posted by broken_legs
:banghead: Stupid Markets


I got into Visa calls again in the last hour

Looked like Visa was going to make a move towards 75 dollars at the end of the day, but then the dow took a huge dive off the deep end in the last 15 minutes...

There were a couple of big buys towards the end, one took it up to 93 dollars??? Must have been an odd lot trade or something

from a technical point of view the uptrend and support tested at 66, 67, 69 looks good and the breakout at 75 for the longest time only helps kill the current bear run.

I believe we are in a tight range 72-78 for a bit.
With Visa's strong number I only see it either going sideways or up.

I bought more at various levels. looking to smile if visa reaches 83-85 :nut:

[broken_legs]

All of the analyst reports I have read on V and MA suggest the only threat to these companies is legislation limiting transaction fees.

I know this has nothing to do with transaction fees, but at the same time I wonder how many knee jerk money managers out there are going to sell into this news because of the headline.




U.S. House Panel Approves Legislation to Limit Credit-Card Fees

By Alison Vekshin

July 31 (Bloomberg) -- A U.S. House panel approved legislation to curb credit-card fees and interest rates as part of a broad effort in Congress to shield consumers from lending abuses.

The House Financial Services Committee voted 39-27 today to send the full House the measure that would require companies to give cardholders at least 45 days notice of annual percentage- rate increases and bar them from retroactively raising rates.

``Without legislation, lucrative, abusive practices will continue and issuers who give them up will lose advantage in the markets and will lose profits,'' Representative Carolyn Maloney, a New York Democrat who introduced the measure, said before the vote. The Senate is unlikely to consider a similar bill this year, Committee Chairman Barney Frank said.

The House is pushing legislation after the collapse of the subprime mortgage market forced lenders to tighten credit standards. Lawmakers have chided card issuers such as Citigroup Inc., American Express Co. and Discover Financial Services for luring borrowers into signing up for cards with confusing terms then penalizing them with high fees and rates.

Separately, the U.S. Federal Reserve in May proposed rules to prevent ``unfair or deceptive'' credit-card lending. The Fed's rules would bar rate increases on existing balances and prohibit so-called double-cycle billing that often results in higher finance charges for customers who don't pay off their balances each month.

Republicans on the subcommittee criticized the bill and urged delaying action until the Fed releases its rules.

Delay Urged

``I really worry that given the Fed's significant activity on these credit-card issues that we are prematurely moving legislation that may duplicate and may impede the Federal Reserve Board's effort,'' said Representative Judy Biggert, a Republican from Illinois.

The American Bankers Association, the Consumer Bankers Association and seven industry groups oppose the legislation, saying limiting fees would undermine the companies' ability to manage risks posed by consumer more likely to default on accounts and reduce consumer access to credit cards.

``Other consumers will have to subsidize the risk of riskier borrowers,'' Ken Clayton, senior vice president of card policy at the Washington-based American Bankers Association, said in a telephone interview.

Representative Jeb Hensarling, a Texas Republican, said provisions in the measure ``ultimately are going to restrict credit at a time when we have a nationwide credit crunch.''

Revolving debt such as credit cards among U.S. consumers jumped $5.69 billion in May, the Fed reported on July 8. Charges on bank credit cards have increased fivefold and outstanding debt has quadrupled from 1991 to 2006, Sandra Braunstein, director of the Fed's consumer and community affairs division, said in April testimony before the committee.

Prospects for Congress passing the measure this year are dimming with the current legislative session ending in December.

The legislation ``is not going to go through the United States Senate this year,'' said Frank, a Massachusetts Democrat.

[SilverRex]

anyways

anything could happen and no risk= no gain

I am bull on Visa/MA

and today is a great day if you believe what I say

Visa holding well at 72 which is the new trendline
MA has hit its 2 year trendline at 230

I see today as great buying opportunity as MA has never failed this line for 2 years

Therefore I'm also loading up on Mastercard.

Good luck

[broken_legs]

MA is taking a beating today!

I loaded up on VISA again as it was dipping into the 70s

Hopefully that was the low. Still looks like there is an upwards trend.

I read some research from Argus, and S&P. Both of them have Visa pegged at 35-39 P/E between 75-91 dollars.


Job numbers came in better than expected today.

Oil is up on fears with Iran. I wonder what Iran is going to say this Saturday. If they say they are suspending their program Oil will crash. If they say they aren't, maybe oil will still sell off as i think some of this run up in the last 2 days is probably due to people pricing that in. now if israel starts talking shit again we could have a problem again.

All of the autos put up double digit sales declines today so they are down of course.

BUT i have most of the financial UP today. weird.

Go Visa go!

[Rat Fink]

.

[SilverRex]

Originally posted by broken_legs
MA is taking a beating today!

I loaded up on VISA again as it was dipping into the 70s

Hopefully that was the low. Still looks like there is an upwards trend.

I read some research from Argus, and S&P. Both of them have Visa pegged at 35-39 P/E between 75-91 dollars.


Job numbers came in better than expected today.

Oil is up on fears with Iran. I wonder what Iran is going to say this Saturday. If they say they are suspending their program Oil will crash. If they say they aren't, maybe oil will still sell off as i think some of this run up in the last 2 days is probably due to people pricing that in. now if israel starts talking shit again we could have a problem again.

All of the autos put up double digit sales declines today so they are down of course.

BUT i have most of the financial UP today. weird.

Go Visa go!

pegged? interesting never thought of that.

but when MA dipped to new lows Visa held above 70, so I think that is a good sign and if next week is semi-decent US market wise. We should see some rally led by MA.

I'm going with MA 230-270 and V 70-85. I may unload half my position and hope for reload

[broken_legs]

Do you guys who trade US equities know of any other good forums or "bull boards" like stockhouse?

I hate the new stock house. Its so user unfriendly, and it seems way more geared towards micro cap and junior stocks.

I'm really tryign to find a good forum where I can talk about stocks on the big boards and option strategies.

Thx

[Canmorite]

www.elitetrader.com

Some very intelligent guys on there. A lot of crap to sort through, but I always learn something from that board. I'm on there daily.

[broken_legs]

Originally posted by Canmorite
www.elitetrader.com

Some very intelligent guys on there. A lot of crap to sort through, but I always learn something from that board. I'm on there daily.

Funny... Turns out i'm already a member on there. Thanks for reminding me Canmorite. :nut:

[broken_legs]

So Iran decides to ignore the deadline set by the US to put their uranium enrichment program on hold this Saturday.


I'm glad this news came out on a Saturday and traders can have a day or two to cool down before they jack up the price of oil again. As long as Israel keeps their mouth shut it shouldn't be too bad on Monday, but then again, you never know!

[broken_legs]

Originally posted by broken_legs
So Iran decides to ignore the deadline set by the US to put their uranium enrichment program on hold this Saturday.


I'm glad this news came out on a Saturday and traders can have a day or two to cool down before they jack up the price of oil again. As long as Israel keeps their mouth shut it shouldn't be too bad on Monday, but then again, you never know!


ZING!


Theres another storm in the gulf, but its not a big deal and oil just sold off 5 dollars in a matter or minutes!

It broke through 120, so technically the next level for oil should be 117. Dow just jumped up 80 points in about 15 minutes!

Visa is gettin is groove back haha