Stocks and Trading Thread - Channeling your inner Mono

[alfred russel]

Oh you know the market had closed before you posted that. It might have meant you don't have it enabled for after-hours trading. I don't either.

Oh. Well, never mind that last post. 

[Admiral Yi]

It must be hard to realize that after a lifetime of voting republican, advanced financial opportunities are only open to the 1%. Sad that you had to learn it like this.

Talked to some foreign sounding broad at customer service and got the impression all you need for higher level options is applying 90 days after you've gotten level 1.

[Alcibiades]

I ended up picking up a hefty piece of BKCC, was that you, Yi, or VM that recommended that one?  Has worked out decently well for me.  Looking to hold long, but the dividends are delicious on it. 

That was me.  I made the mistake of selling it a month ago to double down on American, which promptly cratered.    American now appears to be heavily oversold, so I will give it a week to rebound then cut my losses and move back to BKCC.  For those interested, the latter is only about $0.20 above its 52-week low right now and paying $0.21/share.

Ah nice, yesterday would have been a good time to buy back in.    

Dropped as low as 7.86.  I strongly considered dumping in a big chunk of change, but I just have a big feeling that the market will come down more.... 

[MadImmortalMan]

I just have a big feeling that the market will come down more.... 

I'm playing a wide spread both ways. Any surprise is profit. All downside is known and limited.

[MadImmortalMan]

For example I'm looking at October 24 SPY 190 priced at $1.13. 

Current bid on these is 3.45. So Yi's trade of nine of them would have cost him $1017 and be worth $3105 right now.

[Baron von Schtinkenbutt]

I ended up picking up a hefty piece of BKCC, was that you, Yi, or VM that recommended that one?  Has worked out decently well for me.  Looking to hold long, but the dividends are delicious on it. 

That was me.  I made the mistake of selling it a month ago to double down on American, which promptly cratered.    American now appears to be heavily oversold, so I will give it a week to rebound then cut my losses and move back to BKCC.  For those interested, the latter is only about $0.20 above its 52-week low right now and paying $0.21/share.

American is going to give me an ulcer.  After closing at $28.58 the trading day after I posted this (13OCT), it has shot up to $37.77.

[Admiral Yi]

The market certainly has come roaring back.

Pretty major sell-off, and I'm not picking up a thing about it in the media.

[Baron von Schtinkenbutt]

I just got a pump-and-dump style email about Ryder.  Yes, the (formerly big and yellow) truck leaser Ryder.

Huge Potential! New Momentum Play with Bullish Technicals.

Stock Symbol: R
Company: RYDER SYSTEM INC.
Currently traded: 87.50
Trade Date: October 31st
Target: 91

Did You See Today`s News? Details Inside! It Will Be Featured In
The Wall Street Journal Tomorrow!

I can't figure out the angle.  Anybody ever see something like this before?

[Admiral Yi]

At my work email I frequently get HOT stock tips.

[Baron von Schtinkenbutt]

Well, yeah, I get this shit all the time.  It's always for sub-$1 stocks with very little public information and that promise "1000% gainz!!!!!11onetrue".  I have never seen such a thing for an established stock worth $87.50/share and promising a mere 4% gain.

[MadImmortalMan]

There's an adage about when you start getting stock tips from cab drivers and shoeshine boys.

[Admiral Yi]

How does it go?

[MadImmortalMan]

Google says the origin was Joseph Kennedy.

Kennedy later claimed he knew the rampant stock speculation of the late 1920s would lead to a market crash. It is said that he knew it was time to get out of the market when he received stock tips from a shoe-shine boy.

I guess he made a killing by being short into the crash. Huh.

[Alcibiades]

Sold out of my TTWO today, went up 11% today, 45% gain in a year on it.   

Think it's going  to keep doing well, but the old lady's student loans 

[MadImmortalMan]

One thing I've been doing recently when I want to buy stock is instead selling puts against it.

If XYZ is a good stock but it's selling at 50 and I'm happier paying 45 for it, sell a naked put with a 45 strike and get some cash. If it gets down to 45 I buy the stock, if not, I just keep the cash and let the put expire. Rinse and repeat.