Stocks and Trading Thread - Channeling your inner Mono

[Admiral Yi]

So Greece isn't doing too well financially? I bet nobody saw that coming, good job eagle-eyed Fitch spotted it!

It hasn't dawned on the EU, the ECB, and the IMF yet.

What did Bernanke do MIM?

[MadImmortalMan]

What did Bernanke do MIM?

Hinted that more QE-type activities were being considered.

[Admiral Yi]

Goddamn Jewboy.

[Ed Anger]

Metals hitting the roof thanks to the bernank.

[mongers]

What did Bernanke do MIM?

Hinted that more QE-type activities were being considered.

Will they be handing out free wheelbarrows this time ?

[Richard Hakluyt]

So Greece isn't doing too well financially? I bet nobody saw that coming, good job eagle-eyed Fitch spotted it!

It hasn't dawned on the EU, the ECB, and the IMF yet.

It is very disturbing that the policy on Greece seems to be so reactive. Everyone else seems to know that Greece will never repay the bulk of that debt. They should get ahead of the game and provide a credible solution and end this damaging uncertainty.

Meh, a pointless tautological post really, but why don't the Euro institutions see it that way?

[MadImmortalMan]

It is very disturbing that the policy on Greece seems to be so reactive. Everyone else seems to know that Greece will never repay the bulk of that debt. They should get ahead of the game and provide a credible solution and end this damaging uncertainty.

Meh, a pointless tautological post really, but why don't the Euro institutions see it that way?

Nobody cares about Greece per se. They care about Greece as the first domino.

[mongers]

It is very disturbing that the policy on Greece seems to be so reactive. Everyone else seems to know that Greece will never repay the bulk of that debt. They should get ahead of the game and provide a credible solution and end this damaging uncertainty.

Meh, a pointless tautological post really, but why don't the Euro institutions see it that way?

Nobody cares about Greece per se. They care about Greece as the first domino.

I thought that was Laos ?

[MadImmortalMan]

Well, my Alcoa options are still open and this is the last trading day before expiration. They are so far in the money at this point that they are trading above what I sold them for even on expiration day. Hopefully, they will either expire clean or drop in value at the end of the trading session so I can buy them back. Either of those means I walk with the cash and the stock. If they are called, I have to sell the stock for $13 a share. I will only make a couple hundred bucks if that happens.

[MadImmortalMan]

I've decided that once this nerve-wracking thing is over, I'm selling the lot and going long GLD. I might sell options against that.

[MadImmortalMan]

The trading day is over and my contracts are still open. They'll go dead tomorrow and I get to keep all the money. 

Beats having to sell all those shares for 13 bucks.

[Richard Hakluyt]

I'm out. Back to cash, shame there is nowhere decent to put it.

[MadImmortalMan]

What a retard.

PSA: Brokers, Don't Pump Stocks on Twitter

It's amazing that this needs to be repeated in 2011, but here goes...
BROKERS, DON'T PUMP STOCKS ON TWITTER.

Idiots, the internet is forever.  No different than the old message boards or email.  Same rules apply and nothing you delete is deleted.  And you'll look like a dirtbag anyway.

Here's DealBook on a broker who's been suspended for sending "unbalanced" tweets about stocks she owned:

    Wall Street's self regulatory organization has suspended a California-based broker for sending a series of "misrepresentative and unbalanced" messages on the microblogging site Twitter. The Financial Regulatory Authority, or Finra, also fined the broker $10,000. Her suspension will last a year...

    Finra sanctioned the California broker after she touted certain investments to her 1,400 Twitter followers without notifying her firm of the stock-picking "tweets." Some of the "overly positive" messages predicted that stocks, including Advanced Micro Devices, or AMD, would soon surge.

    On Sept. 9, 2009, she tweeted, "Keep an i on AMD ppl! Just bike abve $5 = margins & institutionals can now 'play ball!' Barclay upgraded to $7 ystrdy, but it should be $10+"

    A couple months later, she tweeted, "How accurate am I with AMD? Just check out my tweets! The future of AMD in 2010? Ummm..I would say $12 is conservative!"

By the way, what's an "institutional", lol.

We're not here to debate how stupid the people acting on her tweets are, that's a separate discussion.  If you go make investment decisions based on something you read on Twitter and do no further research, you're a schmuck and we don't feel bad for you.

But for Wall Street professionals taking advantage of social media, try to be smart about it so you don't ruin it for everyone.

[MadImmortalMan]

I'm out. Back to cash, shame there is nowhere decent to put it.

I'm mostly in cash coming out of the weekend. I closed all my Alcoa positions with a profit. All I have left is cash and some GLD. Not including the IRA, of course.


So today I got a couple slightly ITM calls in SLB and IBM, who both report this week.

[Ed Anger]

Goodbye Borders. I enjoyed your 50% off coupons.