Boiler Room: The Official Stock Market Discussion

[Dr Dre's ProductionSkills]

If I were to bet I say the SP500 rallies at EOD. Havent lookd at the nasdaq much today though


if it passes 159.20...i sense a sharp increase.

i think monday is a big follow throug up... upro go go go

 

[Ohene]

i think monday is a big follow throug up... upro go go go

Perhaps. I was asking a coworker if he knows of any economics reports being released. Thats really all that can bring it down further. I'll keep a close eye on it though. You never know.

The neckline was broken though for the day. Should rise well into the close

edit: Looks like it didnt. I'm not sure the bottom is in. Monday will be fascinating to watch.

 

[Ohene]

now that I think about it...bad news in China can drop Gold significantly. I'm gonna have to short a Chinese ETF to offset the risk.

 

[Mr swag]

Gezz my stocks got rocked last week

 

[Slystallion]

heading into my last year before graduation as finance/financial planning major switched from accounting (didn't want to do public accounting/auditing financial statements counting inventory) rather know more about where to move the company going forward...probably get an mba with finance concentration after a few years of working...either stern or UCLA depending where i want to live

i'll be posting in here in the coming year when i'm more versed in the subject...this sach's fifth avenue gentlemen seems to be a pretty smart guy

i'll be reading this thread on the regular good stuff

 

[Domingo Halliburton]

Yep. Low risk, high reward for the most part. Strike is 16. I bought them with time value only being 60% of the price. (1.22 when the underlying was trading at around 16.55)

Today the hit a new 52 week low at 16.11 with Gold being up today. (1.22% according to the SPDR etf). Trading at 16.7 now which is alot more like it. Seems like these miners are being traded off emotion but I got a month leeway. Overall...the company's down about 15% this week. I think they're due for a good 5-10% pop soon and if they do these options could double up very easily. If they hit 19-20 again...triple up. Wish me luck

I don't know man. I thought vale and Freeport mcmoran would never hit these levels. Commodities have been getting killed. I seriously starting to think the central banks are manipulating gold prices to get people back into fiat currency. I know I'm getting my tinfoil hat out. but there's been some pretty bearish technical signals on gold. I know as soon as I say that the opposite will happen.

Anyways I love chevron and its down. I'm going to buy more.

 

[Ohene]

Another shyt day for gold ahead

 

[Ohene]

heading into my last year before graduation as finance/financial planning major switched from accounting (didn't want to do public accounting/auditing financial statements counting inventory) rather know more about where to move the company going forward...probably get an mba with finance concentration after a few years of working...either stern or UCLA depending where i want to live

i'll be posting in here in the coming year when i'm more versed in the subject...this sach's fifth avenue gentlemen seems to be a pretty smart guy

i'll be reading this thread on the regular good stuff

Thanks breh, I'm pretty much in the same boat as you unless I transfer. Just tryna learn through actually following the markets; it works.

I don't know man. I thought vale and Freeport mcmoran would never hit these levels. Commodities have been getting killed. I seriously starting to think the central banks are manipulating gold prices to get people back into fiat currency. I know I'm getting my tinfoil hat out. but there's been some pretty bearish technical signals on gold. I know as soon as I say that the opposite will happen.

Anyways I love chevron and its down. I'm going to buy more.

Thats exactly how I've felt lately.

I'm still so angry about those Blackberry options. Trading my puts for calls pretty much has netted me a loss of at least 1000 factoring the opportunity cost.

Didnt think the bottom was in for the SPY though @Dr Dre's ProductionSkills. I think today will be a good time to by Call options on the SPY. But I'll be able to tell better at 10:30 EST.

edit: Nah, this shyt is going down in the first hour. I'm scared to even look at BbRY

 

[Ohene]

Man, these gold stocks are getting absolutely ridiculously dumped right now. Because of China I guess.

Facebook as well. The worst luck lately

 

[Ohene]

I don't know man. I thought vale and Freeport mcmoran would never hit these levels. Commodities have been getting killed. I seriously starting to think the central banks are manipulating gold prices to get people back into fiat currency. I know I'm getting my tinfoil hat out. but there's been some pretty bearish technical signals on gold. I know as soon as I say that the opposite will happen.

Anyways I love chevron and its down. I'm going to buy more.

Man Gold is nothing to play with right now. Holy fukk. It's like I have the worst luck ever on some Murphy's law shyt. China came and fukked my shyt up before I could even buy puts on an ETF (FXI) like I said I should, Gold itself isnt even down much today.

 

[Ohene]

ABX is back up to around when I bought the options. Should be close to break even

 

[Ohene]

Barrick Gold is Green today

Goldcorp, Kinross, Newmont,Vale and Silver-Wheaton however
Can only mean one thing. The RSI is right and ABX is oversold/

 

[Dr Dre's ProductionSkills]

thing with gold is this.. dollar is very strong right now .. i have no doubts that qe is going to continue for 2 or 3 more years at some rate

and im banking on them increasing it later this year ina panic..

the dollar strong should equal our economy doing good (growing) and its not..theyll bring it down to the mid 70s then watch out...

and my assumption is that they will stop qe when its too late and the system will be point of no return...

can belive the volitiality today... got stopped out quick with my s p long in the am and had to rebuy at lows...

i have a feeling this gets pushed up 1620ish and then an orderly drop to low 1500 and then qe will be back in full force...

 

[Ohene]

It's a sham to me though. I'm sure there's good reason supporting it (for instance giving banks this money so they can loan out to new home purchases which will increase demand on various fronts - lumber, metals, appliances, trucks, construction gear etc etc etc) but if the economy can't support itself then just let it organically come back to life. I dunno.

Goes to show how dangerous the market can be for somebody that isnt in the know. Imagine being an average Joe and buying shares a couple weeks back seeing how bullish the market was. Only he didnt know that QE was supporting this. Probably looking at this sell off like .

 

[Domingo Halliburton]

should of had my vix calls expire in july and not june when i bought them in may.

what do you guys think of aapl? when it hits these low 400/high 300 levels it always seems to bounce back up the last few months. 9 times forward earnings.