Official STOCK MARKET Thread @@@!!!
I figure there must be some forum members that are active traders, so I thought I would start a thread to talk about the stock market and what you are trading these days.
I usually make about 10 trades a month and usually stick to Cdn/US blue chips stocks. I trade some options (usually plain vanilla puts/calls) but am trying to get more into option strategies (bull call spreads, etc.). Stocks I typically trade these days include TD, CM, SLF, RIM, G, ABX, YHOO, BAC, SU, IMO. Right now I am not long much except some BAC calls and some oil shares.
I picked up some RIM today at $19 as I think it has some short term potential. It hit a new 52 week low today and the P/E of 3.6 is making it ripe for a potential takeover target or maybe they will start to buy back shares.
I think the market is due for a large upcoming correction as Europe will come crashing down eventually.
What are other people trading these days?
I usually make about 10 trades a month and usually stick to Cdn/US blue chips stocks. I trade some options (usually plain vanilla puts/calls) but am trying to get more into option strategies (bull call spreads, etc.). Stocks I typically trade these days include TD, CM, SLF, RIM, G, ABX, YHOO, BAC, SU, IMO. Right now I am not long much except some BAC calls and some oil shares.
I picked up some RIM today at $19 as I think it has some short term potential. It hit a new 52 week low today and the P/E of 3.6 is making it ripe for a potential takeover target or maybe they will start to buy back shares.
I think the market is due for a large upcoming correction as Europe will come crashing down eventually.
What are other people trading these days?
Comments
Here's one that should have volatility, FIO. Wozniak (the other Steve) is part of it.
On RIM yeah that's the only reason I'd buy it too otherwise should still be a falling dagger.
Answer to your question, I'm trading cash. It's not just Europe, it's _still_ this. I think it surfaced around a week ago? You have to figure though they'll come up with an agreement in the final hours and make like heroes again:
No deal by U.S. deficit panel would be dire: experts | Reuters
Couldn't resist post....
the bid on this stock after the close is now at $37.50..up $5 from the close?
I was wrong, RIM hit a 7 year low today. Lets see how the major shareholders react to below $20. Probably hold it until it gets back to $21ish and stop out at around $17.
Whoops coincidence didn't know they released earnings today. Anyway this one should still have big swings.
How about your SLV?
I used to be an active daytrader, but came to the realization that you can't beat the commissions and full-time professional traders in the long run. I transferred a lot of my stock market gains into ETF and index funds, so I don't have to keep worrying about them several times a day. Active trading is like sitting down in a high-rake high stakes cash game surrounded by full-time pros. :frown:
SLV is basically a trust that tries to replicate the price of silver. GTA mentioned it a few months back.
SLV: Summary for iShares Silver Trust- Yahoo! Finance
Personally I don't like leveraged ETFs (especially Horizon), not unless you are actively trading them. If you hold them long term, you will get killed on all the fees to reset the derivatives, etc.
FINRA - Investor Alert - Leveraged and Inverse ETFs: Specialized Products with Extra Risks for Buy-and-Hold Investors
Index funds are fine but I find them too boring to be honest and would rather have my funds in individual stocks.
I actually buy physical silver (PM = precious metals).
golddealer.ca
I find it easier to just buy SLV online for short term holds. If silver gets back to $25ish, I will check out this site for sure.
I'm not an expert, but I recall reading that much of the paper silver that is purchased is not actually backed by enough physical silver so that you can be at risk. Something like that anyhow. I knew more back when I was researching about purchasing and it made me decide that physical was a better option.
Of course you have to deal with having a safety deposit box or safe or similar and figuring out where to sell when the time comes to unload it all. It seems like ebay has lots of overpriced silver bars and rounds which I think is due to limited availability in some countries so that may be the way to go if the price rises enough.
I purchased a bunch at $28 which I think ended-up being the recent bottom...I guess how long I hold onto it depends on whether it ends up crashing or steadily climbs in 2012. Free shipping from that site with orders over $2k beats anything you can get from the US.
Superfail: Why D.C.
What is SLF yield?
SLF 7.48% right now and CM (CIBC) is over 5%. Might be a good bet for RESP?
Failed. What does SLF mean / stand for? Thanks again.
stock symbol on TSX for 'Sunlife Financial'.
Honestly, its not looking too good. Its really a victim of the overall market right now. Eventually those irrate shareholders are going to want blood. I would wait for some positive news to get it moving in the other direction. I prefer Apple right now, with the holiday season here.
RIM was down close to 13 today.
bought some RIM $17.50 Dec. puts on Weds for $2.59. Closed them today for $4.25. Wish I bought more. Everything pointed to RIM disappointing with their results yesterday, although it may be a buying opportunity at some point. AAPL is starting to look attractive again. Like it in the $370-$375 range.
Still holding on to my YHOO for now. If it trades below $14.50, I will get rid of them.
I would go with the gold and silver companies before the actual metals themselves. Actually I'd go with gold companies before silver companies, but silver as a metal before gold.
Say gold for example does go to $2200+ an ounce....you make about 35% buying the metal today. IF gold did that, silver would probably make you about 60%-100%, and many of the intemediate gold companies that haven't benefitted from gold's rise last year and have actually been just HAMMERED lately could easily get you 100% plus.
Or, gold could drop to $1000 an ounce....then every idea is screwed....not sure why....many gold companies were as high or higher than they are today when gold was at $800 an ounce :bs:
No grave dancing but think surprise is a strong word though:
RIM’s Shares Plunge After Company Reports Surprise Loss
RIM
Wish i never sold those apple shares!
Yes looking back this right here is one of the most humbling threads on the forum.