I got lit up across the board today, but not as bad as I thought. The bears ran with the ball today but a rally is coming. I bought IBKR today, solid firm with a great business model and balance sheet. Bought some JASO to give me some juice as well. Banks need to rally to scare the bears but the put buying in some banks like WFC is scary. I'm about 70% cash and will buy long but rather not short on big down days.
Ill be back late tonight, just brush off today and if u owned FAZ, celebrate
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RF when do you think FAS will become a BUY? I was going to buy at 5.00 but saw the downtrend in the afternoon and feel like we could drop another .50 before Thursday. It seems like you think the Mark to Market decision could send this thing ripping if the right decision comes down.
ReplyDeleteRF,
ReplyDeleteYou drilled the top in crude, still got the DTO? I was looking back and you bought it at $135, like right at the bottom hehe! I nippled at the SCO around $31.50 today. I am one of the FAZ pigs, so I will have a drink for you tonight bud.
The WetSeal comments keep making me chuckle. Never doubt the power of the teenyboppers (Jonas Brothers, the movie Twilight etc.)
ReplyDeleteHey TOM - Thanks for the comment. I got to be honest, the FAS is a tough call right here. I got it at the bottom around $2.50 but sold too early; however, the main reason I bought it was a captiulation sign around 3:30p on the Friday on March 6th I believe. I haven't seen that, instead I have seen alot of buying in the FAZ, therefore, I don't like it here...yet but I might be wrong. If you are looking to buy say 500 shares, you might want to buy 100 here but I am not buying it yet.
ReplyDeleteCraig - No bro, seller's remorse big time. I wouldn't be surprised to see it break $200. SCO is another way to play, wanted to buy today but couldn't do it. Nice day on the FAZ.
J - I should've held it but no seller's remorse. Got any crude position on, either way? The DTO up 19% and DXO down 9%, what is up there? CONSPIRACY!!!!!!!
Tom - Also, if I see any signs of FAZ selling/shorting, or FAS buying, I will post
ReplyDeleteDefinitely a conspiracy RF!
ReplyDeleteCheck out this comparison chart from the last month: http://finance.yahoo.com/echarts?s=DXO#chart7:symbol=dxo;range=1m;compare=dto;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
On the whole they trade like they should but there are some major short-term fluctuations that simply shouldn't be there.
Only position right now in crude is the 100 of DXO that executed at my 2.75 limit. The inventory report this week is going to be real big. Also we have the G20 going on in Europe. Crude is just piling up everywhere and I think traders are ready to swing the bat big later this week I just don't know which way! We're also very close to that $48.55 technical low that we talked about last week.
J
ReplyDeleteAlot of people buying the SCO yesterday. Oil is moving with the market, which is rather weird. I had a move to buy it at $31 but just couldn't do it. I think we will catch a rally here going into the M2M meeting but those two oil services name I posted today look rasty TOASTY!. I want to short, got the story, just want to connect on timing.