Stocks and Trading Thread - Channeling your inner Mono

[MadImmortalMan]

The market likes MMM I think, and after the results from CSX and Union Pacific, I think NSR will be good too.

MMM was a bad call. Norfolk Southern was a good one. I don't risk much gambling on earnings so no biggie, Norfolk's symbol is NSC btw. I messed it up above. I made slightly more on NSC than I lost on MMM. 

[Caliga]

I never buy based on earnings results.  Been burned too many times.

[Ed Anger]

I buy on gut feelings, Oijua board readings and the entrails of chicken sacrifices.

[Caliga]

I buy on gut feelings, Oijua board readings and the entrails of chicken sacrifices.

I'm kind of partial to tasseomancy myself.

[jimmy olsen]

Disclaimer: This post does not constitute financial advice

[MadImmortalMan]

God bless the oil companies. That's all I have to say.



I hope this stupid debt ceiling thing doesn't get locked up another week. It will hurt.

[MadImmortalMan]

Boehner gave up trying to get the votes for the evening. After hours trading is in freefall. Have a fucking wonderful Friday morning.

[Richard Hakluyt]

Didn't think they would get things sorted, one of the reasons I sold out. For my investing decisions I work on the premise that Congress is incompetent.

[MadImmortalMan]

Didn't think they would get things sorted, one of the reasons I sold out. For my investing decisions I work on the premise that Congress is incompetent.

Sadly, I'm a retarded optimist. 

I'm holding out for the bump sometime before my small bets expire Aug 20th.

[Richard Hakluyt]

Well, there is also the British tax system for me to consider. In our current state of affairs the marginal rate of taxation I face on dividends is excessive for a potentially risky holding.

I doubled up on a siberian gold mine though, targetting capital gains which would be treated favourably atm. Which is far more risky but also free of tax unless it goes really well.

[MadImmortalMan]

I'm looking for a short squeeze tomorrow. I'll have to get up early I think.

[Admiral Yi]

I'm looking for a short squeeze tomorrow. I'll have to get up early I think.

Do they tend to be more approachable in the morning?

[MadImmortalMan]

I'm looking for a short squeeze tomorrow. I'll have to get up early I think.

Do they tend to be more approachable in the morning?

The reason I say that is that the market reacts in the early day to what happened overnight. Margin requirements start getting called in forcing shorts to buy, mutual funds allocate capital deposits and other things like that. A lot of times that sets the tone for the day. In this case, the Senate is voting at noon (9 my time). That's a reaction a couple hours after the open, so there will probably be a swing rather than a morning set and then flat kind of day. Also, the House voted just after the close today, so that's not quite baked in yet either.


Friday's nonfarm payroll news will suck, apparently. That might be a good gold buying day after I sell off some stuff on the budget bump in the next couple days. I'll decide later in the week.


Then again, Italy might keep crashing and ruin everything early. 

Also, there a rumor of a downgrade on France. 

[Admiral Yi]

Just bought some more SPY on today's dip.  Paid 127.16.

Thanks for talking me out of the GLL MIM. 

[MadImmortalMan]

I picked up some shares of CAT and some ITM calls on UNP, FMC and AAPL at about the -160/-170 Dow level. Hopefully, there will at least be a mini recovery in the next two weeks.