Official Stock Market & Economy Thread

[dey know yayo]

not every bank is going to be natoinalized. bac and c are the only ones really with the potential for it. FAS would go down but not to 0, prolly to like 4 andbelow. remember, C and BAC are both under $5 already.

european banks are going face major nationalization/bailouts though. i bet a lot of them go to 0. see what happened in iceland and greece as example for all ofeurope as far as the bank interventions go.

 

[ieternalv]

how is oil affected in all of this?

im about to go mining for gold like my ancestors before, and maybe buy a couple AK-47s b/c our country is going to sh*t

 

[dey know yayo]

if your country is america, you are mistaken. bullish on gold, bearish on ammunition. guns are for the europeans and chinese. we americans have nothing toworry about with our system. until 20-30 yrs down the line when all the government's power usurpation is possiblly abused.

imo oil is bottoming.

 

[freakydestroyer]

Do you do this for a living? How do you find time to do all this research?

 

[ieternalv]

bottoming, as in, it is on it's way back up?

i'm very bullish on gold, have been since '06 when i started trading. i think that's the only thing that is still making me money.

 

[dey know yayo]

it interests me so it's not even work, if i have some free time, you can catch me smokin a blunt, readin some econoimics or financial articles.

PRUDENTIAL (PRU) JUST LOST ACCESS TO US COMMERCIAL PAPER MARKET. COMMERCIAL PAPER MKT IS LIKE THE BLOODLINE TO FINANCIALS/INSURERS. PRU WILL END UP LIKE AIG,GREAT SHORT OPPORTUNITY IMO.

As I've been saying, insurers are worhtless (i always group banks, insurers,a nd comm real estate together as my bearish plays). PRU my guess goes to below$1.

 

[wawaweewa]

Originally Posted by Dey Know Yayo

it interests me so it's not even work, if i have some free time, you can catch me smokin a blunt, readin some econoimics or financial articles.

PRUDENTIAL (PRU) JUST LOST ACCESS TO US COMMERCIAL PAPER MARKET. COMMERCIAL PAPER MKT IS LIKE THE BLOODLINE TO FINANCIALS/INSURERS. PRU WILL END UP LIKE AIG, GREAT SHORT OPPORTUNITY IMO.

As I've been saying, insurers are worhtless (i always group banks, insurers,a nd comm real estate together as my bearish plays). PRU my guess goes to below $1.

Can you post some of the sites you go to for info?

 

[dey know yayo]

yahoo finance, bloomberg, etc-- the regulars.

i get a lot of info from readers of my blog and articles. i get about 20-40 emails a day.

i also chat with two fundies daily and they give me real time info right from the wires.

 

[tsman]

DKY, what site do you trade through? Can you point out the best trading sites, and what is necessary to be able to short sell. Do I need a large capitalreserve to do so?

 

[nycballer]

DKY - Do you think there is a reason that RGLD is lagging behind the other gold miners and royalty companies? While gold itself is definitely extended, alongwith the other companies you mentioned (GG, GOLD, UXG, etc.), RGLD has almost retraced back to its 50DMA. Can you attribute that to anything?

 

[nicefro]

Tsman, swim through some of the early pages of this thread for info on brokers. You need a margin account to short sell, you need more than $2,000 to open amargin account.

Still holding FAS from $10.88. Who wants to bail me out?

Any takers?

 

[abeautifulhaze]

(S)

I swear to God I was going to make a post about Sprint 2 weeks ago but Yuku went down.

With Sprints focused financial restructuring & capital investment, the guaranteed hundreds of thousands of Palm Pre contracts on the horizon and investorslooking for Tech shelters....watch Sprint creep towards or break the $10 mark by Q3.

 

[crazy dav0]

i took a nice profit from srs today and i feel it will still go up ...but i don't know how much more the market will go down and i'm thinking we are dofor a good temp. surge so i can maybe get back in at a lower price than it is now ...

@ FAZ .. its on a tear and i can't touch it ...

i may just stay in cash 4 a lil myself who knows ...

 

[nicefro]

dky, do you think the dow and gold will meet up?

 

[reigndrop]

Originally Posted by nicefro

dky, do you think the dow and gold will meet up?

Possible but highly unlikely. Government and the Fed are not dumb.

 

[thagreatj]

Originally Posted by Dey Know Yayo

thagreatj- that sounds great man. post which gold stocks u have.

I originally got into Rgld about 3 weeks ago.
then Monday i purchased IAG and JAG. i actually didnt mean to purchase JAG and really wanted to buy EGO but i made a mistake in the notes i made and had JAGand EGO mixed up. I didnt feel too comfortable buyin a company that did mining work in Brazil. Either way, a lot of the Gold stuff you said made sense. Whetherit brings in Huge returns over time like i hope or brings in a minimal return, It gave me a way to somewhat (understand) what i was puchasing instead ofbasically blindly pickin a stock.

Like i said, i had 3 years worth (nearly 15 thousand contributed to my IRA, makin no return basically) and need to diversify. I originally thought i just putmoney in there, and it compounded on its own. Not true...eitherway thanks for your insight, whether it becomes beneficial over time, ill see.

 

[jc08]

Originally Posted by JC08

Hey guys kind of off topic, but I'm thinking of getting a desk-trading job at Swift Trade. I just wanted your opinions on whether they are legit or not. I have searched on the elitetrader forums, google, etc... and the general consensus seems to be that it is a good place to learn, but you won't be making any money for the first six months while you're on the job. Thanks.

^bump

 

[nicefro]

predictions for the dow low today.

i say 7285.60.

 

[nicefro]

My goodness look at SKF and FAZ premarket.

 

[dey know yayo]

i think we reverse very hard today or monday otherwise a lot of banks and insurers are going to face collapse.

 

[nicefro]

I'd say Monday, today will be hell.

 

[prmj23]

I might buy some more ms this morning if they get knocked around, got out of gs a while back might start looking at that again. Built on my csco positionyesterday for the long term!

 

[dey know yayo]

ill be at 100% cash at todays end regardless of todays action. if anything, i'll have some calls in financials.

 

[nicefro]

opened a position in FAZ at $79. Hesitated at $40.

My plan is to sell FAZ at day's end.
Still holding FAS so it's sort of a hedge for the day since they are even positions. like 51/49
Not selling FAS, holding over the weekend, if it continues to drop then I'll have more to worry about.

 

[prmj23]

i havent really messed with any of the etfs or bear funds, that risk is a little to high for me right now considering im not a trader