Official Short-term Investments Thread [Archive] - Page 77 - Beyond.ca - Car Forums

broken_legs

10-15-2008, 02:19 PM

Originally posted by leec001

SWEET:love:

and it was on only 386 million shares traded...

COF puts i bought at 90 c yesterday are asking 1.55 now Lets see what happens after they report! Too bad I only got 5 left, but im playing with the houses money now.

I'm going to build a ridiculous position in Suncor if it drops below 20 bucks again... This time Im going to hold on a little longer.. or maybe not depends on how big my balls are that day :barf:

Originally posted by djayz
Haha I just got owned...put in a limit order 20 minutes before close and the damn thing fell like a rock :banghead:

Rebound tomorrow? or another deadly down draft?
I need a rebound to pull out some cash since I just spent it all on a lowball offer that got filled :facepalm:

what did you buy?

Inzane

10-15-2008, 02:23 PM

Originally posted by Z_Fan
I really wish I would have bought lots last Friday, and dumped in Mon on DOW or Tue on TSX. A missed opportunity.

Woulda, coulda, shoulda.... :rofl:

Inzane

10-15-2008, 02:26 PM

Originally posted by broken_legs
I'm going to build a ridiculous position in Suncor if it drops below 20 bucks again... This time Im going to hold on a little longer.. or maybe not depends on how big my balls are that day

Are you talking about the actual share price, or that option trading mumbo-jumbo? Suncor's share price hasn't been below $20 since 2005, AFAIK. :dunno:

djayz

10-15-2008, 02:28 PM

Originally posted by broken_legs

what did you buy?

I've been in and out of TET.un several times throughout this down turn trading it for 150 at a time, just small profits haha. I'm building a holding in this anyways so I thought I might as well trade it if I can, if I get stuck holding it it's okay since I need it and while I wait for it to go back up im getting a nice dividend of 10 cents a share, about 1.8% a month.

Just sucks that I put in a such a large lowball offer that I have no more cash hah.

Pacman

10-15-2008, 02:34 PM

broken_legs

10-15-2008, 02:34 PM

Originally posted by Inzane

Are you talking about the actual share price, or that option trading mumbo-jumbo? Suncor's share price hasn't been below $20 since 2005, AFAIK. :dunno:

WRONG!!!!!

Suncor traded at $19.38 on 10/10/08 (Friday)

I bet you mean Canadian Suncor?

And I'm going to buy some shares maybe 300 and then write some $5-10 puts when they are way overvalued, then buy some 25/30 calls and let er all ride! Might buy to cover the puts when the price goes back up, or take a chance and let it expire. I mean Suncor isn;t going to 10 bucks is it???? IS IT???

Locked and Loaded :guns:

Inzane

10-15-2008, 02:37 PM

Originally posted by broken_legs
WRONG!!!!!

Suncor traded at $19.38 on 10/10/08 (Friday)

I bet you mean Canadian Suncor?

Yes, I meant the CDN SU on the TSX. Why are you trading it on the NYSE when you have a CDN alternative? Aren't you worried about the $ exch?

Big Daddy G

10-15-2008, 02:43 PM

What do you guys use for online trading?

broken_legs

10-15-2008, 02:45 PM

Originally posted by Inzane

Yes, I meant the CDN SU on the TSX. Why are you trading it on the NYSE when you have a CDN alternative? Aren't you worried about the $ exch?

http://forums.beyond.ca/newreply.php?s=&action=newreply&postid=2637763
EDIT:
On another unrelated note. Anyone see the exchange rate lately?? 1.18 CAD/USD

I'm up about 20% on my trading account from trading plus another 20% from teh exchange. This is awesome !

Pay attention man! ;)

I put about 15k into USD when the exchange rate was between 1.03 and 1.07 . Plus NYSE options trading is illiquid enough as it is, 1000 contract volume is 100 times better than 10 on the TSX for a comparable stock. The volume on the stocks is way higher too.

bigbadboss101

10-15-2008, 02:50 PM

Hope for a Tuesday like jump so we can sell. Then it can go down all it wants after that so we can reload :-)

Inzane

10-15-2008, 02:56 PM

Originally posted by broken_legs
Pay attention man! ;)

I put about 15k into USD when the exchange rate was between 1.03 and 1.07 .

Ah.. gotcha. You already had some US $ in your account. Fair enough. I didn't so if I was buying stock (stock itself, not options) now and had a choice I'd probably stick to the CDN version. The 1.18 has more downward potential than up, doesn't it?

I didn't understand your 2nd part though (on volumes)... I haven't delved into any option trading yet.

broken_legs

10-15-2008, 04:59 PM

Originally posted by Inzane

Ah.. gotcha. You already had some US $ in your account. Fair enough. I didn't so if I was buying stock (stock itself, not options) now and had a choice I'd probably stick to the CDN version. The 1.18 has more downward potential than up, doesn't it?

I didn't understand your 2nd part though (on volumes)... I haven't delved into any option trading yet.

What does this chart tell you about the exchange rate?
http://i274.photobucket.com/albums/jj259/broken_legs/CAD_USD.jpg

About the volumes, there isn;t much of an options market in Canada. The volumes are way lower than the counterpart on an american exchange. With low volumes it's hard to get a decent price when you are selling, and harder to get a deal when you are buying.

Inzane

10-15-2008, 05:39 PM

Originally posted by broken_legs
What does this chart tell you about the exchange rate?
http://i274.photobucket.com/albums/jj259/broken_legs/CAD_USD.jpg

Ummm........... NOT going down. Dammit. :banghead:

So much for buying car parts over the winter.

max_boost

10-15-2008, 05:51 PM

Next entry point, between 8500-9000pts, could be tomorrow!:eek:

broken_legs

10-15-2008, 07:33 PM

Originally posted by max_boost
Next entry point, between 8500-9000pts, could be tomorrow!:eek:

Exit point before 6500?

max_boost

10-15-2008, 08:10 PM

Originally posted by broken_legs

Exit point before 6500?

At 6500. I go ALL IN lol

djayz

10-15-2008, 09:32 PM

AT 6500 it goes to 0 :nut:

Z_Fan

10-15-2008, 09:39 PM

You guys are joking about 6500 but I think that's totally realistic.

:poosie:

Supa Dexta

10-15-2008, 09:39 PM

As do many others,.

broken_legs

10-16-2008, 12:36 AM

To put it in perspective...

There was a 2000 point Rally from Fridays lows to mondays Highs. I don't thinks its odd at all that we'd come back down 773-1200 points. I don't think we'll be re-testing lows again on this downturn. In a month or two, yes. But right now, no.

I'm expecting that we only drop a couple hundred points tomorrow then rally back and finish in the black.

Just my theory anyways... If it keeps going down then I'll be doing this again :barf:

Rat Fink

10-16-2008, 07:55 AM

bigbadboss101

10-16-2008, 08:14 AM

POT is volatile. As low as $88, and high as $96 today.

And ELD and YRI both down around 8%

leec001

10-16-2008, 08:27 AM

Originally posted by max_boost
Next entry point, between 8500-9000pts, could be tomorrow!:eek:

Its getting there:

TSX 9,160.44 -163.41 -1.75%
Dow 8,482.25 -95.66 -1.12%

TSX 9,041.60 -282.25 -3.03%
Dow 8,413.44 -164.47 -1.92%

Its already there now.............

TSX 8,964.68 -359.17 -3.85%
Dow 8,340.08 -237.83 -2.77%

TSX 8,905.05 -418.80 -4.49%
Dow 8,244.43 -333.48 -3.89%

TSX 8,888.69 -435.16 -4.67%
Dow 8,276.36 -301.55 -3.52%

TSX 8,788.25 -535.60 -5.74%
Dow 8,299.94 -277.97 -3.24%

11:16am EST

Probably to another level 8000-8500 pts.................
6500 mark is possible!

:eek:

ckangarloo

10-16-2008, 08:36 AM

What happened to gold?

leec001

10-16-2008, 08:50 AM

Originally posted by ckangarloo
What happened to gold?

Gold Oct 08 836.30 +0.80 10:30am EST
Gold Oct 08 800.80 -34.70 11:11am EST
Gold Oct 08 792.40 -43.10 12:26pm EST

liquid1010

10-16-2008, 08:53 AM

Gold hit $800.... and ABX down over 8% right now!!

This sucks for my calls right now....

Supa Dexta

10-16-2008, 09:15 AM

oil @ 69 and golds sitting at 798 and dropping.

Inzane

10-16-2008, 09:17 AM

Originally posted by Rat Fink
I decided to get back into the market yesterday. got my 24.75 stink bid filled yesterday on SU.T

This morning I wasn't sure if it would turn out to be a good buy but so far she's shaping up okay. Next rally I'll sell.

My "stink" bid was filled at 22.50 this morning, but it may not be so much of a stink bid anymore... We'll see where she ends up. (already banging down on the $22 mark)

:facepalm:

Beerking

10-16-2008, 09:20 AM

Freaking soap opera in the markets.:nut:

Rat Fink

10-16-2008, 09:36 AM

broken_legs

10-16-2008, 10:05 AM

Shit...

oil is below 70 buks! Who'd o thought!!!

Meanwhile, I sleep in until 10 am like a loser and miss out on Suncor at under 18.50... *sigh*

Oh well. If oil keeps falling this will be good fo energy stock buys.

I see SLB @ 50 DOLLARS!!!! WTF!!!!

They are releasing earning on Friday and will beat as they usually do.

VIX is a 78!!!!

broken_legs

10-16-2008, 10:26 AM

Frick

I just bought some SLB Shares and I'm also now the proud owner of 80 SU Nov Calls

Yikes...!
:barf:

bigbadboss101

10-16-2008, 10:40 AM

IF you were to buy some gold stock, Kinross, Goldcorp or Barrick?

rc2002

10-16-2008, 10:50 AM

Have you looked at Yamana? Or Agnico Eagle Mines? I've owned all of the above and would stick with the bigger companies in this market environment.

AEM missed guidance last year and the investors hammered it. I think it's a strong stock though.

Barrick has good market sentiment but I don't like the hedging it does. It lost a bit to ABCP writedowns (not sure if you can really blame managment) but at least it has cash on hand (which I think is key right now).

Personally, I don't think gold will make the glorious comeback that everyone is predicting. In a recession, nobody is going to want gold (just pull up historical gold values after the tech bubble burst). Gold is a good hedge against inflation and I don't see much of that in the near future.

Then, what do I know? I sold my gold positions before the big runup last year.

Supa Dexta

10-16-2008, 10:51 AM

I was just thinking, with all the huge loses taking place, it's sort of odd there hasn't been news of some suicides.

djayz

10-16-2008, 10:56 AM

Originally posted by Supa Dexta
I was just thinking, with all the huge loses taking place, it's sort of odd there hasn't been news of some suicides.

Maybe because it's not really as bad as the damn media makes it seem :banghead:

On the other hand...if they did report suicides wonder what would happen to the market...bigger sell off?

Supa Dexta

10-16-2008, 11:02 AM

It's just I can remember when I was younger hearing of them now and then, when the news wasn't even this gloomy.

broken_legs

10-16-2008, 11:06 AM

rc2002

10-16-2008, 11:08 AM

I think it's due to the Meridian acquisition working it's way through still. Yamana is one of the weaker players, but there are some good swings if you're an in and out investor (or rather speculator).

liquid1010

10-16-2008, 11:09 AM

Originally posted by richardchan2002
Have you looked at Yamana? Or Agnico Eagle Mines? I've owned all of the above and would stick with the bigger companies in this market environment.

AEM missed guidance last year and the investors hammered it. I think it's a strong stock though.

Barrick has good market sentiment but I don't like the hedging it does. It lost a bit to ABCP writedowns (not sure if you can really blame managment) but at least it has cash on hand (which I think is key right now).

Personally, I don't think gold will make the glorious comeback that everyone is predicting. In a recession, nobody is going to want gold (just pull up historical gold values after the tech bubble burst). Gold is a good hedge against inflation and I don't see much of that in the near future.

Then, what do I know? I sold my gold positions before the big runup last year.

I think we may see some fundamental changes in the way Gold is viewed. Lately Gold has become a play against the US dollar and inflation, however I think we are going to see it move back to a complete safe haven against economic collapse. If the markets continue to drop, and people continue to lose confidence I think we'll see a strong flight to extreme safety - those things with intriinsic value. Right now everyone is moving out of equities and into cash or Gov't paper (bonds)...

So here is the question, how will this flight towards Bonds affect inflation? If the Gov't is raising funds through bond issues, this pulls $$ out of the economy... however they are plugging in more than they are pulling out through bad asset purchases and direct liquidity injections through the creation of preffered shares. One would think this all points towards fundamentally stronger Gold prices. There was a good article on Forbes by Nouriel Roubini this morning discussing the various measures that G7 nations are taking to help the markets right now, and make sure they try to stay ahead of this recession - ie: not become like Japan in the 90's.

broken_legs

10-16-2008, 11:13 AM

Capital Gold Corp trading at 0.36 on T.O

Their gold production cost in under 250/oz, expanding reserves, expanding production from 50,000 to 70,000 ounces/year

Inzane

10-16-2008, 11:24 AM

Originally posted by broken_legs
http://www.latimes.com/news/local/la-me-porterranch7-2008oct07,0,7425239.story

Mans Kills Wifs and Kids over Loss in Stock Market.

Wow... For those that are into the whole religion thing, they gotta believe that fellow is going to BURN in hell.

He:
1) murdered his family
2) committed suicide
3) despaired, which in itself is considered bad (according to some religions/beliefs), before committing both of above

Wow... serious inferno of the damned waiting for that guy. :whipped: :devil:

djayz

10-16-2008, 11:25 AM

Originally posted by broken_legs

http://www.latimes.com/news/local/la-me-porterranch7-2008oct07,0,7425239.story

Mans Kills Wifs and Kids over Loss in Stock Market.

That's crazy :eek: Just goes to show don't invest what you can't afford to lose. Seems like he went all in and the world just crashed down on him. I feel sorry for the children as they seemed to be off to a good start and a bright future.

Fiddy Yen

10-16-2008, 12:16 PM

Originally posted by djayz

That's crazy :eek: Just goes to show don't invest what you can't afford to lose. Seems like he went all in and the world just crashed down on him. I feel sorry for the children as they seemed to be off to a good start and a bright future.

Sad to see (what seemed to be) a smart man wash his life away and take loved ones with.

SilverRex

10-16-2008, 01:37 PM

I dont get it the artcle says they are pretty good financially years back. And what ever happened the man must of bet all his savings on something (maybe oil)? and hit a margin call.

still why kill yourself. if it's financial distress, he could of had his life insurance as a saving grace for his family.

unless of course they were smart but not smart enough to purchase any.

RIP

ZorroAMG

10-16-2008, 01:42 PM

Life insurance would not pay due to suicide.

broken_legs

10-16-2008, 01:47 PM

Originally posted by ZorroAMG
Life insurance would not pay due to suicide.

Who they gonna pay it to? He killed his family too :dunno:

ramminghard

10-16-2008, 01:49 PM

Originally posted by ZorroAMG
Life insurance would not pay due to suicide.

I thought life insurance would not pay out only if the suicide occurs within 2 years of the purchase of the policy. As long as the policy was more than 2 years old it should pay out. However that could apply only in Canada.

bigbadboss101

10-16-2008, 01:55 PM

I thought it was one year.

broken_legs

10-16-2008, 02:00 PM

So back on the topic of Stocks and Investing....

Originally posted by broken_legs
To put it in perspective...

There was a 2000 point Rally from Fridays lows to mondays Highs. I don't thinks its odd at all that we'd come back down 773-1200 points. I don't think we'll be re-testing lows again on this downturn. In a month or two, yes. But right now, no.

I'm expecting that we only drop a couple hundred points tomorrow then rally back and finish in the black.
....

Damn I'm good.

I especially like how Oil Trades up and down with the DOW. You think they'd trade opposite like they were at the start of the year, but the weakness in oil is now the weakness in the economy and the strength in the economy is the strength in oil... So

Earnings out tomorrow for SLB. I want oil to rally back to 75 - 80 dollars and see a bit of a rally in the heavily beaten down energy stocks. We've spent too many days under the moving average i think its time for some reversion to mean???

Supa Dexta

10-16-2008, 02:24 PM

They are calling for google to head to 600-650!:nut:

May as well print google on ounces of gold.. :rofl:

TYMSMNY

10-16-2008, 02:28 PM

Originally posted by broken_legs
So back on the topic of Stocks and Investing....

Damn I'm good.

LOL... quoting yourself already?

We were down a FEW hundred points btw.. ;)

Google is looking at roughly +12% aftermarket. Who said to short this thing in another thread?

drew_goring

10-16-2008, 02:31 PM

Originally posted by broken_legs
So back on the topic of Stocks and Investing....

Damn I'm good.

I especially like how Oil Trades up and down with the DOW. You think they'd trade opposite like they were at the start of the year, but the weakness in oil is now the weakness in the economy and the strength in the economy is the strength in oil... So

Earnings out tomorrow for SLB. I want oil to rally back to 75 - 80 dollars and see a bit of a rally in the heavily beaten down energy stocks. We've spent too many days under the moving average i think its time for some reversion to mean???

SLB is a great buy right now.

What do you guys think of SNG? I think it is a great buy now as well.

Inzane

10-16-2008, 02:31 PM

Originally posted by Supa Dexta
They are calling for google to head to 600-650!:nut:

What the hell for? How much more growth can Google possibly have? :dunno:

broken_legs

10-16-2008, 02:53 PM

Originally posted by TYMSMNY

LOL... quoting yourself already?

We were down a FEW hundred points btw.. ;)

Google is looking at roughly +12% aftermarket. Who said to short this thing in another thread?

Just feeling good about my calls today :) I post pretty much all my trades online here cause it gives me a reason to stick to my plan and keeps me honest haha

Plus if all you guys hammer down on me it might keep me from doing something retarded.

EDIT:

Heres some charts on Oil. (Not oilexco which is at 3.50?????!!!)

Last couple Months:
http://i274.photobucket.com/albums/jj259/broken_legs/OIL_DAYS.jpg

Last Year:
http://i274.photobucket.com/albums/jj259/broken_legs/OIL_WEEKS.jpg

Anyone else think oil has further to go? Or do we have support around the low from Today?

Supa Dexta

10-16-2008, 03:06 PM

Hard to say, lot more reserve then they thought, makes me think it may slide some more.. What may have helped it hold today was OPEC calling the emergency meeting for next week, rather then next month.. I bet it banks on that meeting, if they try to cut production and oil doesn't begin to climb, watch out. Especially if saudi want's to play hardball.

broken_legs

10-16-2008, 03:10 PM

Originally posted by Supa Dexta
Hard to say, lot more reserve then they thought, makes me think it may slide some more.. What may have helped it hold today was OPEC calling the emergency meeting for next week, rather then next month.. I bet it banks on that meeting, if they try to cut production and oil doesn't begin to climb, watch out. Especially if saudi want's to play hardball.

Its kind of funny that way. I think the US needs oil to be high. When Saudi isn't making money from selling the US oil, suddenly there is no one to buy US treasuries and invest in the markets here...

EDIT:

I can;t find what the volume is, but it should be noted that today was option expiration day. I believe there was a spike in oil prices last month on light volume to cover positions, perhaps today was the same thing but int he other direction.

Supa Dexta

10-16-2008, 05:40 PM

edit here it is:

http://www.bnn.ca/news/4130.html

TYMSMNY

10-16-2008, 05:57 PM

Originally posted by broken_legs

Its kind of funny that way. I think the US needs oil to be high. When Saudi isn't making money from selling the US oil, suddenly there is no one to buy US treasuries and invest in the markets here...

EDIT:

I can;t find what the volume is, but it should be noted that today was option expiration day. I believe there was a spike in oil prices last month on light volume to cover positions, perhaps today was the same thing but int he other direction.

The Saudi's have plenty of money and they definitely didn't complain when oil was at $50/bbl. There is enough money in foreign treasuries to help the US out.

edit: OPEC moved forward their meeting to October 24th where they will be recommendations to cut oil production by 1 million bbl/d. This should provide some short of protection against falling oil but wow.. talk about heavy oil price manipulation.

max_boost

10-16-2008, 06:12 PM

Originally posted by ramminghard

I thought life insurance would not pay out only if the suicide occurs within 2 years of the purchase of the policy. As long as the policy was more than 2 years old it should pay out. However that could apply only in Canada.

It could be just Canada or even select companies? :dunno:

With Statefarm, after 2 years they will pay out no matter what.

Anyway, markets bounced back after a shaky morning. With the luxury of mutual funds, I can wait until the last minute of the day before entering so I'm glad I held off.

Forget 8500-9000, that's too close, I'll wait until 8000pts :D

broken_legs

10-16-2008, 08:49 PM

OMG

Cramer is on Donny Deutsche telling people to sell their homes, move in with their parents, put their business plans on hold, buy Kraft Dinner and Hamburger Helper, etc... Furthermore, he's saying this will be the greatest recession we'll ever see in our lifetimes, the only analog is '29 and '33, and that there will be a fundamental shift from conspicuous consumption to living wihtout and that the new heroes of our society will be those who can live on the least.

wow

Supa Dexta

10-16-2008, 08:54 PM

He does get pretty worked up.. But he also called whats happening right now, play by play over a year ago I believe. I think I'm just going to try and pay off as much of the new truck as I can this winter, be sitting as debt free as I can be next spring , and wait and see if the world comes crumbling down. Waiting for the best time to strike.

Rat Fink

10-16-2008, 09:22 PM

broken_legs

10-16-2008, 10:02 PM

Originally posted by Rat Fink
ya but Cramer has been wrong on a lot too. When you spout your mouth off about everything and anything, eventually you'll be right on a few things. :dunno:

If you're right 51% of time everyone gets rich.

I've been making and saving on Cramers advice. I don't take it blindy, i take it think about it, do my own DD like he says on his show and all his books and then make my moves.

broken_legs

10-17-2008, 05:44 AM

Oct 17th Update:

Futures on DOW pointing lower on anticipation of Housing Starts Data release pre-market today. Expected was -1.6%, but actual was -6.3%

Asia closes higher on the day, Hang seng closes down 4.4%

Europe is still open and up 1-3.5%

COF reported a profit??? on fourth quarterly decline in revenue??? wtf

SLB reports 1.25 and meets consensus, bu says that if there was no hurricane issues in the gulf it would have been 1.29.

Oil gains for 72.50 on reports that it is oversold.

gold is back below 800 bucks.

Bush to speak - Sell on Bush?? Seriously shut your flapper already... Idiot - OK so he spoke, said the same shit again, and predictably the markets (futures) are lower, but this could have more to do with housing numbers.

GOOG is still up 8% in pre-market

buffet says he is now 100% in US equities and has supreme confidence in US.

CNBC keps repeating that 7882 was the bottom.

EDIT:
Premarket on Suncor is under 20 bucks again :barf:

EDIT:

DOW is coming back, should break 9000 soon.

SLB was sell on news. It was already trading at 10x earnings, now its just plain sillyness at 46 dollars!

Buying More! :barf:

EDIT:

The MV of my account swung from 16,900 to 15,800 to 20,400 in 35 minutes.... :barf: My balls have retracted into my body

edit:

In totally unrelated news I bought a new 22" monitor, video card and sweet ass leather chair

http://i274.photobucket.com/albums/jj259/broken_legs/PA160117.jpg

EDIT:

Dow just broke 9000

Inzane

10-17-2008, 08:58 AM

I noticed SilverRex has been awfully quiet about his gold plays lately. ;)

I can relate though... I'm about -25% on ABX right now. :banghead:

djayz

10-17-2008, 09:00 AM

Originally posted by broken_legs

In totally unrelated news I bought a new 22" monitor, video card and sweet ass leather chair

http://i274.photobucket.com/albums/jj259/broken_legs/PA160117.jpg

You know you're getting into trading when you start buying things to make your ass from going numb and your eyes from burning up :rofl:
Looks like a good setup though, I want to run dual monitors but no room for anything.

I'm so bored haha wish I saved some cash to trade around with :banghead:

liquid1010

10-17-2008, 09:09 AM

Originally posted by broken_legs

COF reported a profit??? on fourth quarterly decline in revenue??? wtf

buffet says he is now 100% in US equities and has supreme confidence in US.

COF = Accounting Shenanigans FTW! :D

As for Buffett, I'm not going to say that I doubt he is 100% into US equities, but I will say that it is in his best interest to create a positive sentiment right now.

Keep posting your breakdowns BTW... it's good stuff.

ckangarloo

10-17-2008, 09:09 AM

Ya, I'm down 26% on ABX. Luckily not too heavily invested...

Nice chair, I got the same one from Costco. Kirkland brand ftw!

BigMass

10-17-2008, 09:22 AM

Originally posted by Inzane
I noticed SilverRex has been awfully quiet about his gold plays lately. ;)

I can relate though... I'm about -25% on ABX right now. :banghead:

short term market moves mean nothing and are often irrational. The biggest rallies in history were during the great depression. Gold is down, the US dollar is up and the market rallied %11 a few days ago. Makes sense? No of course not. In the long run, this recession/depression will play out no matter how much people “hope” that it won’t.

And I can’t believe anyone buys propaganda PR from Warren Buffet. He’s one of the top elites that conspires on a daily basis with the Federal Reserve, people within the government and corporate heads. It blatantly obvious they’re trying to avert panic by showing everyone how the worlds most respected investor has confidence in the US economy.

broken_legs

10-17-2008, 09:36 AM

Originally posted by BigMass

And I can’t believe anyone buys propaganda PR from Warren Buffet. He’s one of the top elites that conspires on a daily basis with the Federal Reserve, people within the government and corporate heads. It blatantly obvious they’re trying to avert panic by showing everyone how the worlds most respected investor has confidence in the US economy.

Normally I don't think most of your posts are too out-there, but I'm going to have to get the tinfoil hat for this one.

Warren Buffet:
Cute friendly old man who likes Cherry Coke, Wrigleys Gum, Ben & Gerrys Ice Cream.

Yeah he's probably a part of a conspiracy with the Fed to get people to buy stocks so they can make the market crash and delete peoples wealth.

His entire mantra has always been "Be fearful when others are greedy and greedy when others are fearful" for 50 years. He built Berkshire Hathaway on that mantra and has since become the most successful investor the world has ever known.

Never mind that over the last 30 years he's made similar statements 3-4 times and each time within a year stocks were substantially higher.

Never mind that he has been preaching this for 50 years and had numerous publications, articles and books written about him that state the same principals.

Never mind that he just invested BILLIONS into Goldman Sachs.

Never mind that his personal investing account has been in treasuries for the last 6 years because he thought it was too risky to be in equities.

Supa Dexta

10-17-2008, 10:07 AM

HAL is likely a good buy right now, it's started to come back a bit the last couple days. But I did good off it last yr when I bought in at 26.

BigMass

10-17-2008, 10:08 AM

Originally posted by broken_legs

Normally I don't think most of your posts are too out-there, but I'm going to have to get the tinfoil hat for this one.

Warren Buffet:
Cute friendly old man who likes Cherry Coke, Wrigleys Gum, Ben & Gerrys Ice Cream.

Yeah he's probably a part of a conspiracy with the Fed to get people to buy stocks so they can make the market crash and delete peoples wealth.

Right, because what you read about him on Wikipedia is all that there is to the man. These people in power meet behind closed doors and make decisions there. Not in meetings or boardrooms broadcast over youtube for everyone to see. Also, not every conspiracy is evil or malicious. But you can't take anything at face value.

You really believe he put money into Goldman and GE just because they're good investments in the same way we'd put money into them because we think they're cheap stocks? He more than likely had dinner with 20 different individuals from Hank Paulson to the head of GE to the owners of 3-4 different investment banks and talked about strategy, the economy, public sentiment, end game goals etc.

He didn’t pop on E-trade and hit the buy button. Also money at this level is a very small motivating factor for these people. It's merely a byproduct of an overall goal they're trying to accomplish. Just like Bill Gates states he stopped caring about money after the first Billion. His motives now are on a societal construct level.

I know it's hard for people to grasp the concept that there is more to what's going then what's put in front of them.

liquid1010

10-17-2008, 10:23 AM

Stepped into ABX a little deeper - Jan09 calls.

The bubble in the US dollar will soon burst IMHO, and Gold will be viewed as the next safe haven. Right now the fleeing towards US treasuries is causing this USD bubble, and Gold is being driven down through various issues (Paper Market, Carry Trades, etc).

All in due time.

Rat Fink

10-17-2008, 10:41 AM

broken_legs

10-17-2008, 10:50 AM

Originally posted by BigMass

Right, because what you read about him on Wikipedia is all that there is to the man.
I have never looked up WB on Wikipedia. I have however, read some books about him, watched documentaries on him, listened to hours of interviews with him, and researched the principals of value investing which over time have been proven to produce tremendous gains in wealth. I guess you were sitting in the secret boardroom meetings with Buffet and Paulson so you obviously know way more than I.

These people in power meet behind closed doors and make decisions there. Not in meetings or boardrooms broadcast over youtube for everyone to see.
Actually Berkshire Hathaways yearly shareholder meeting is something that draws THOUSANDS of regular everyday folks who all get a chance to see WB in person. It's more like a big friendly party where everyone eats ice cream and cherry coke.

Also, not every conspiracy is evil or malicious. But you can't take anything at face value.
So what IS the conspiracy? What exactly is he conspiring to do? If you don't know then how can you possibly claim that there is a conspiracy?? What is the point of you posting this??

You really believe he put money into Goldman and GE just because they're good investments in the same way we'd put money into them because we think they're cheap stocks? He more than likely had dinner with 20 different individuals from Hank Paulson to the head of GE to the owners of 3-4 different investment banks and talked about strategy, the economy, public sentiment, end game goals etc.
Actually, he probably had meetings directly with the boards of those two companies and worked out a sweetheart deal. Wait, thats actually what he did do. Private equity is always preferred over government intervention and WB bought preferred shares that pay high dividends, unavailable to the public, in both of those deals.

Wb doesn't go and conspire with Paulson and Bernanke. Those guys call WB in for consultation and advice.

He didn’t pop on E-trade and hit the buy button. Also money at this level is a very small motivating factor for these people. It's merely a byproduct of an overall goal they're trying to accomplish.
Increase the value of Berkshire Hathaway shares and increase the long term wealth of BH investors??

I know it's hard for people to grasp the concept that there is more to what's going then what's put in front of them.
I'm just having a hard time grasping WTF you're talking about.

The guy has been saying buy fear sell greed, buy value, keep your powder dry for 50 years. his message has never changed or wavered in the slightest. Suddenly this same message has become a conspiracy theory.

WB has written articles only a few times. Once in '75, again in '79. He said to buy. Guess what happened next? 30 year bull market in stocks.

He said to sell in '99. Guess what happened shortly after? Tech Bubble, Bear Market ring a bell?

I just don't get what you're trying to prove with your comments here.

EDIT:

I'll also point out that none of you guys have actually read his article yet, you're just reacting to my summation of the market happenings that I posted this morning which isn't exactly 100% accurate.

Why don't you read the article yourself so you actually know what you're talking about:

http://www.nytimes.com/2008/10/17/opinion/17buffett.html

Supa Dexta

10-17-2008, 11:28 AM

I gotta get on the ball here. HAL is going to be up over 10% on the day it looks.

djayz

10-17-2008, 11:30 AM

OIL making one hell of a run...same with suncor. I'm liking the volatility for trading but it keep getting stuck in things that don't move so well haha

snoop101

10-17-2008, 11:31 AM

I been in Bionic Products Inc (BNPD) for a while now. Today it went up a good chunk. Something to look into. Pretty much a energy drink but doesn't have all the crap in it.

Inzane

10-17-2008, 11:53 AM

Originally posted by djayz
OIL making one hell of a run...same with suncor.

Woot... Suncor's over $27! :thumbsup:

SilverRex

10-17-2008, 12:16 PM

welp looks like 70-75 oil was a good floor

I suspect gold should be a good week next week why? look at the last few weeks the buy sell momentum seems to alternate weekly, this was a bad week, so I believe next week we should see a good rally.

I'll be looking to move some money off the table next week then wait for the following week and buy on weakness.

broken_legs

10-17-2008, 12:22 PM

Originally posted by Inzane

Woot... Suncor's over $27! :thumbsup:

I just had a shower and i read this ^^^

Don't post CAD prices in here, i almost had a heart attack when I read that!!

....

ANnnnnnnnnnnnnnnnnnnd theres the sell off

boooo dow was up almost 300 points and it all went away now :cry:

ckangarloo

10-17-2008, 12:22 PM

I'm sure those EPCM firms are hoping that 75 for oil is the floor. I think those will be the first to feel the crunch if it goes any lower.

Inzane

10-17-2008, 12:26 PM

Originally posted by SilverRex
I suspect gold should be a good week next week why? look at the last few weeks the buy sell momentum seems to alternate weekly, this was a bad week, so I believe next week we should see a good rally.

What are your thoughts on silver?

Inzane

10-17-2008, 12:28 PM

Originally posted by broken_legs
I just had a shower and i read this ^^^

Don't post CAD prices in here, i almost had a heart attack when I read that!!

Sorry man... :rofl:

broken_legs

10-17-2008, 01:49 PM

ergh

I was up just over 2 grand today but I didn't sell because I believed in the rally.

most of my holdings right now are Nov calls on SU that I will pretty much finish even on for today.

But should I hold over the weekend? I can't see anything earth shattering coming up except:
- OPEC meets so oil should go up in anticipation of cut DOWN if it does not
- China releases GDP oil goes down if gdp is down significantly
- Tonnes of earnings come out next week if its worse than whats already discounted maybe we go down further

Anyone else got ideas for market movers next week? Will you hold over the weekend???

djayz

10-17-2008, 01:56 PM

Originally posted by broken_legs
ergh

I was up just over 2 grand today but I didn't sell because I believed in the rally.

most of my holdings right now are Nov calls on SU that I will pretty much finish even on for today.

But should I hold over the weekend? I can't see anything earth shattering coming up except:
- OPEC meets so oil should go up in anticipation of cut DOWN if it does not
- China releases GDP oil goes down if gdp is down significantly
- Tonnes of earnings come out next week if its worse than whats already discounted maybe we go down further

Anyone else got ideas for market movers next week? Will you hold over the weekend???

I'm contemplating the same thing...what if OPEC doesn't cut production that will send Oil way down won't it?

Edit: I'll be holding, price just isn't going up unless we get a big burst in the last minute but I doubt it.

max_boost

10-17-2008, 02:00 PM

My dad is working the buy low and sell high thing pretty good this past week. So gutsy and lucky I guess.

He made a few grand on each RIM, RY, POT, SU.

Are we going to be seeing more of this up 300pts and then down 300pts next week too? That's his strategy. Buy low and then profit take the next day haha

Supa Dexta

10-17-2008, 02:00 PM

I'm pretty sure OPEC will be cutting, I'm not so sure though oil will be climbing much,.

/////AMG

10-17-2008, 02:08 PM

I must be seeing things...

http://img376.imageshack.us/img376/5382/53458607go6.jpg

SilverRex

10-17-2008, 02:14 PM

Originally posted by Supa Dexta
I'm pretty sure OPEC will be cutting, I'm not so sure though oil will be climbing much,.

they will cut no matter what if not more simply because it will give them the flexibility to raise production when oil demand is hot again

broken_legs

10-17-2008, 02:37 PM

well I didn't sell.

I'm going to hold for OPEC cutting production and 75-80 dollar oil.

I'm going to hold on for decreased volatility and a Monday-Tuesday Rally in Energy stocks. (i hope!)

It's kind of hard to see but I think the dow is wedging out and will stabilize around 8850 or so. If you look at candle sticks its pretty obvious i think.

In other news:

Andrew Lahde, Hedge Fund Manager, Returns 866% on fund YTD and calls it quits.

At one moment his fund was up over 1000%

http://1stnews.org/167/andrew-lahde-letter/

Here are some of my favorite exerts:

...The low hanging fruit, i.e. idiots whose parents paid for prep school, Yale, and then the Harvard MBA, was there for the taking. These people who were (often) truly not worthy of the education they received (or supposedly received) rose to the top of companies such as AIG, Bear Stearns and Lehman Brothers and all levels of our government. All of this behavior supporting the Aristocracy, only ended up making it easier for me to find people stupid enough to take the other side of my trades...

...Ah, the female. The evil female plant — marijuana. It gets you high, it makes you laugh, it does not produce a hangover...

...Our policies have other countries literally laughing at our stupidity, most notably Canada, as well as several European nations (both Eastern and Western)...

EDIT:
This just in... 12 States in the US have 6 months or less funding available for unemployment insurance!

Maybe this will be the great depression. Can anyone say soup lines?

EDIT:

This just in... Linens N Things is insolvent and going to Auction!

EDIT:

This Just in... Venezuelas state owned oil company has just had its line of credit yanked by the bank of Scotland!!!! Venzuela is acting as though it is strapped for cash!!!