Monday’s Trading

Eli probably has the best trading strategy for this week: close positions, wire money out of broker and into FDIC bank.

143 Responses to “Monday’s Trading”

  1. phil says:

    MATT…….its PUKING TIME!!!!!!……..couldnt help myself……bought DDM at 50.03………..BARFFFFFFFFF

  2. K says:

    look at DUG 1 min chart please!!!

  3. Shaishen says:

    Anybody trading DUG? Getting some crazy swings on the 1 and 3 min,
    2 Dollars up and down

  4. K says:

    ameritrade data lag is screwing K up

  5. K says:

    i’m trading DIG for just a few minutes.

  6. George says:

    Shaishen;

    I trade DIG/DUG every day.

  7. George says:

    It’s all I can do to contain myself from BBT.

    Man, this time tomorrow, I hope is up 10. Go! you frozen H2O.

  8. George says:

    I hope ICE is up 10. Too excited.

  9. K says:

    would you hold ICE overnight? :P

  10. K says:

    DIG 55.78 out 57
    $1.22/share * 20 = 24.4 – 14 = $10.4 + $16 earlier i made a decent “scalp for the day”

    who said you can;t go to school full time and work part time? :P

    i know dig MIGHT go up but what do I care. :P
    and there it flies as i type. BLEH :D

  11. Jim says:

    How does the volume today compare w/Sept.18 on the last S&P hard down day? If it’s lower I don’t think we have seen capitulation yet.

  12. George says:

    Obviously, our public serpents don’t have children or grandchildren who will be affected by a depression.

    Hey, let’s tell them their pay depends upon the economy. Naw, won’t work, they’ll just raise taxes.

  13. K says:

    bought 250 NCC at a 1.62 so we shall see i decided to take a risk overnight

  14. George says:

    Hey K; That’s the way.

    You’re there.

  15. Paul K says:

    so let’s get set for tomorrow’s bounce.

  16. George says:

    I know how to clear out Washington: Institute “pay per performance”. Would the last official, please turn out the lights… and watch that door knob.

  17. George says:

    Paul K;

    I’m with ya. As long as I have an Internet connetion, that is…

  18. George says:

    K;

    Don’t worry about what it does after a trade except to learn. The trade was successful – that’s the most important thing right now.

  19. David says:

    Jim others, today was the second biggest distribution day in the last ten years. Spring 07 was bigger. This is a capitulation. It may not shoot straight up and may go a bit lower, but it should be pretty much a done deal.

  20. K says:

    now NCC is a gamble but oh well :D
    yes George i think by reading a book instead of trading every day i think i am finally settling down.
    so 2 trades down 2 more day trades to go this week? :)

  21. Dressguard says:

    We want Matt!!! We want Matt!!! We want Matt!!! We want Matt!!! We want Matt!!! We want Matt!!! We want Matt!!! We want Matt!!! We want Matt!!! We want Matt!!! We want Matt!!! We want Matt!!! We want Matt!!! We want Matt!!! We want Matt!!! :-)

  22. K says:

    YES WE DO! YES WE DO!

  23. David says:

    and soon they will run the put buyers in

  24. Paul F says:

    Pelosi’s speech was a non-partisan disaster. It sounded more like a speech against the bill:

    http://www.breitbart.tv/?p=184803

    I can see how borderline Republicans would change their votes out of spite, although it would have been nice if they had looked at the big picture instead of shooting a hole in the bottom of the boat to drown Pelosi.

    She was right, just REALLY poor timing (or good timing if she changed her mind about the bill…).

  25. Crimson Ghost says:

    Some folks on this board seem to have lost bullish bets and are trying to find someone to blame.

    This bill was a monstrosity and I am glad it failed. In addition to hundreds of economists and an outraged public even George Soros opposed it as giving too much power to Paulson

    Some kind of bill is sure to pass shortly; hopefully it will be better crafted and not reward the parasitical, lying fat cats at the expense of the rest of us.

    With the VIX nearing 50 today I HAD to start going long SSO.

  26. Pooch says:

    Hey Crash we both up 250% today!!!hahahaha gap and crap down tomorrow buddy,closed on the low,let ride her back up for a bit more green. Those deep out the money Q’s are now up 1250%

  27. David says:

    We have seen the enemy, and it is ourselves.

  28. Dblwyo says:

    George ICE is ? I get Intercontinental Exchange ?

  29. George says:

    Dblwyo;

    Yes. An exchange for products like some commodities, FOREX, etc.

  30. K says:

    Gallup Poll: Obama Back in Charge… Thanks to Palin?
    http://econompicdata.blogspot.com/2008/09/gallup-poll-obama-back-in-charge-thanks.html

    she might have been good looking but dare i offend anyone and call her a dumb blonde on the inside? i’m sorry whoever i offended. good going mccain. haha

  31. Yerk says:

    So you leave the computer for half a day off and then everything goes down the drains. Ts, ts, ts.

    Congratulations to Mr Paulson and Mr Bernanke for trying to bully congress and senate into a corner by sending them an indecent proposal without adequate preparation and malicious timing. I can understand perfectly well those who have voted no – but I cannot understand that the final proposal was not watered down enough to get a majority. Leaves us now in a situation with huge meltdown potential. Let’s see if the gods can come up now with something constructive before Asia opens. They can of course step down to take responsibility for their actions. To initiate the vote without having a majority – did they buy so many puts in advance??

    Congrats Pooch!

  32. George says:

    Ty Andros (“serpents”) has a writeup on current conditions. Interesting read. This is PDF.

    http://www.traderview.com/economiccommentary/tedbitsEconomicCommentary.asp

  33. George says:

    Yerk – ooooh, did they buy puts, indeed. Nice.

  34. towelie says:

    Crimson: I don’t think anyone of us particularly like the bailout package (akin to liking chemotherapy). But I am pretty amazed it wasn’t massaged enough to pass in some watered down form given the fact that they claimed to have enough votes on Sunday. Last Thursday we pretty much avoided a complete disaster (treasuries at zero, equities in free fall) by announcing this bailout. How many times can they keep this up?

    The public response is a knee-jerk, uninformed reaction. They refuse to take any blame for any of this and act like they got nothing in return. Just about everyone benefited from the last decade in some form, albeit indirectly. The thought that we are so outraged that we are willing to call their bluff and risk a systematic meltdown has me quite scared; simply because the public doesn’t realize what that would entail. “Death to the bankers! As long as my debit and credit cards still work….”

    Cognitive dissonance?

  35. phil says:

    dressguard???????………where is matt??????

  36. K says:

    we don’t know phil :)
    we want matt to comment!

  37. Dressguard says:

    I think he is pushing his cash in his mattress. He wanted to get more money from the ATM today. He also said he would transfer his money to a safe FDIC insured bank. All I know is that he is at home right now. He is just in a bad mood right now. Maybe we can cheer him up somehow. If he could give us a hint we would do so, wouldn’t we?

  38. George says:

    towelie;

    Well said.

  39. K says:

    holy freekin crapoli. i know all the indicators like the vix soared and i expected the TRIN to soar too but a 3.79 closing trin is just AYAYAYYYYYY

    hehe hey matt come on. please show us a sign? we really miss your comments here man.

  40. jayJ says:

    Where has admin been…..no posts today ?

  41. Dblwyo says:

    towlie (& george): I’d say here, here but that’d be redundant with all the other times I’ve traded that position :) !

    Oh what the heck….here, here.

  42. K says:

    DAMN IT Moodys

    Moody’s says may cut National City ratings

  43. Paul F says:

    K,

    That’s because WFC hasn’t got any merger/re-capitalization yet.