I think we will see the markets track Asia into the red mostly due to the European debt concerns. Probably wont be a deep in the red as Asia unless we get some more bad news out of Europe. Trade of the day? Long TSYS 10-y Long Dollar Short Euro Long C I think we should get a daily thread like this going to just kind of bounce ideas around, get some general banter and have one place to discuss events and the markets instead of three or four threads popping up daily about something new. 9:30 in 2 minutes…
By “Long C” are you talking about NYSE:C Citigroup?
Reggie Wrote: ------------------------------------------------------- > By “Long C” are you talking about NYSE:C > Citigroup? Yeah, that was pretty dumb considering I was calling for the broader market to fall. It’s not likely that the most actively traded stock will move agains the market. I need to start drinking coffee again. Looks like im 2 for 4 so far today.
Yeah if you’re day trading it looks like you’ve lost on Citigroup, but I was considering buying it myself shortly, I think it would be a good strategy to hold in your portfolio for awhile. Seems to have lots of upside potential.
I’m not day trading, I closed my accounts for the new job and I’ve been lazy at reopening a new one. I wouldnt really day trade anything. The only time I day traded a stock was when AIG for some reason shot to the mid-40’s from basically nothing. I was happy that day lol.
just curious, when you say: Long Dollar (against?) Short Euro (against?) +is there an ETF to play DXY? I found UUP and UDN but would like to hear other ideas. thanks
USD/EUR
I’m short FXE via long puts since I can’t seem to get my hands on FXE to short. I had some puts on FXE with Jan11 expiration 140 strike (bought back in January, right before the euro dropped below $1.40) and I sold a small number of those puts for FXE Put 120 Jan12. So basically I’m getting more bearish on the Euro.
We had a year end price target set at 1.24, that got demolished.
ASSet_MANagement Wrote: ------------------------------------------------------- > I’m not day trading, I closed my accounts for the > new job and I’ve been lazy at reopening a new one. > > > I wouldnt really day trade anything. The only time > I day traded a stock was when AIG for some reason > shot to the mid-40’s from basically nothing. I was > happy that day lol. You mean the day of the 1:20 reverse stock split? Split made the price about $40 then it promptly fell to $8. Since then it’s been on a tear though. Interesting that Fairholme is now the second largest shareholder now. CSTR has been my best position recently. Picked it up about a year ago at $25 because my wife can’t stop renting movies at Redbox. It’s had a huge run, but the growth is still there so I’m holding for now. Straight up gamble is YRCW. And I’m thinking about picking up some Waddell & Reed since they got beat up last week for causing the crash. Seems a little irrational. Still a good firm.
I had CSTR on my watch list like 6-7 years ago. Back then Redbox was a very very small portion of the company and it was a JV with MCD. MCD tanked and wanted to go “back to the core” and sold their stake to CSTR. I was just looking at the value of the coin counting business back then and put the value of Redbox to 0. Never pulled the trigger on that one. Doh. and I did go long YRCW at 19. Rode it all the way to $3. I guess that’s better than the .65 it’s at now. Tax loss carryforwards…
Long the dollar and short the Euro, how’d you come up with that one? Any news?
Reggie Wrote: ------------------------------------------------------- > Yeah if you’re day trading it looks like you’ve > lost on Citigroup, but I was considering buying it > myself shortly, I think it would be a good > strategy to hold in your portfolio for awhile. > Seems to have lots of upside potential. Please describe where citigroup has upside potential
Jscott24 Wrote: ------------------------------------------------------- > Long the dollar and short the Euro, how’d you come > up with that one? Any news? You know, I get super nervous when EVERYBODY tells you to trade in one direction. just saying…
I wasn’t really talking fundamentally with Citigroup. They have a massive amount of shares outstanding and I’ve read that the US gov’t owns about 30% of it. I was just talking as a speculative buy. Go in at $3.80 and sell when it hits $5, easy chance to make a quick 32% gain. I think there’s a good chance it will fluctuate up to $5 before the end of 2011.
Snoozers
i just got long DBO (oil) right now, its oil times to shine this week, stop @ 23.60
daddybackstab Wrote: ------------------------------------------------------- > i just got long DBO (oil) right now, its oil times > to shine this week, stop @ 23.60 That looks like a solid trade. I doubt it’ll hit your stop. Then again, oil has been on a massive slide, if it does hit your stop you havent lost much and should probably get back in.
yea ill attempt again if i get stopped out. i may have jumped the gun on this, i could see tomorrow gapping lower but staying in a tight range above my stop. this one had no trouble breaking through the support/resistance levels in march now its at February support. but again Commodities declines are said to be fairly fast with no real zig zag minor retraces like in equitys. if this whole week keeps oil in a narrow trading range that will make the weekly chart look real good on dbo, 3 down bars each bar getting smaller with most recent one tight and at support level.
God I wish I had some money in the market right now! I would have made some $$ on my treasury play.