AAPL up $30 but I am still not looking to jump into it..I think it's going to come back to low 500 again... ARNA up by .40 this morning, VVUS is dropping like crazy
These two posts make me confident with my long. Glad to see there is still pessimism after this very strong bounce. BTW...How's trading going?
It's funny that you think you are special by buying here like some kind of contrarian. The bounce between this and next week will suck in and trap the last bit of the bag holders. And believe me, there will be plenty of pessimism the rest of the way down.
Meow! Trading must not be going that well. I guess there is no money to be made in AAPL bouncing 60 points in a day and a half. I guess there is no money to be made when the mcclellan oscillator got as negative as it did. Absolutely no money to be made buying AAPL and other quality names, high yield CEFs, and dividend paying stocks when people are throwing them out ahead of the Nov 15 redemption deadline and panicking about the fiscal cliff.
I'm up 1k today with ARNA, we'll see how tomorrow goes. Might just jump ship if it doesnt hit $9, but have a feeling its gonna be a good week. BTW, MNKD has dropped below $2 for weeks now...everyone is bashing the stock...is that a good sign? lol
MNKD is more interesting after I looked at it. Apparently, they have $200+ million which is enough to fund the company thru 2014. http://www.fool.com/investing/general/2012/11/15/3-biotechs-burning-cash-to-keep-the-lights-on.aspx I need to do a little more research, but buying the May 2013 $2 calls seems like a REALLY good idea. That gives you about 6 months for any random rumor or news to develop. Bid/ask was .27x.33 at the close. Hell, even the December 2 calls look good at .08. Random crap develops in these thinner holiday markets, so it could see a rally from here since this is a pretty stable level for now. I think I might really lay into that trade tomorrow. Nice suggestion!
There is opportunity and money being made everyday. Sure, there is money to be made in buying AAPL, as long as you know when to get out. Like I said, it is likely to rally for a week or two. Heck, kiddie traders might even make some money in those penny stocks you guys are so interested in.
Would you mind explaining how this would be done. I have no clue how to setup calls/puts. Scottrade account. Thanks!
Hpq is being priced below book value. They still have the enterprise division and I am sure their ink cartridge business will make good money. Is it a good buy for the long term?
They've been below book value for a few months and it looks like some of their book value just evaporated with the scandal over there now. That said there may be some value in buying it for a bounce, but I won't try to screw around with it too much. edit....I didn't really do much research on the HPQ issue today until now. They took a $5.3 billion write down on that Autonomy deal. They paid 10.3 billion for Autonomy about a year ago. That write down amounts to about $2.70/share in book value. From the article I glanced over it looks like HPQ still has significant amounts of goodwill on their balance sheet which makes their true book value hazy. I don't feel like going thru the SEC filings on HPQ right now, but I might in a bit.
Contact Scottrade and ask them. You need to be familiar with how options work before you trade them. Scottrade won't allow you to do anything other than buy calls and puts so it's pretty straight forward. However, don't take a lot of random trades with options if you do start trading them. You will lose a lot of money very quickly. I think this MNKD setup is a unique one and that the options offer potentially less risk with more reward. I've had some really good trades similar to this one where I can take a defined/minimal risk. If I was just buying the common stock on a company like this I wouldn't feel comfortable buying a lot of shares, but if I am buying the call options then I can buy a lot more contracts because my risk is clearly defined.
Keep telling yourself I'm a kiddie trader So how did the rally in the market treat you? I know you've tended to be bearish. Are you trading daily?
I have to agree. The Fed isn't changing its policy anytime soon. The "fiscal cliff" will get kicked down the road and taxes won't be skyrocketing like some fear imo. But a lot of the stellar buys in the market have bounced quickly. The MLPs had some nice selloffs on the tax hike fears and have recovered very quickly.
http://blogs.wsj.com/digits/2012/11/20/qa-with-autonomy-founder-mike-lynch-on-h-p-allegations/ This kind of funny. I wonder how meg would have done as the Head of California.
Sold my ARNA share at 9.31 had a really nice pop this morning on VVUS buyout rumors and AETNA will cover both drugs.. got some apple at 660...we'll see how it goes till end of week NOK is up almost 60 cents over three days, right now at 3.19 )
Man interesting market news lately with the HPQ implosion and scandal. Then you have the largest insider trading case ever at SAC. Stevie Cohen has been like teflon to these insider trading cases so far and the Feds have been targeting his funds for awhile now. I'm really curious where this one will go and if SAC can survive it. It was also SAC who had that crazy sexual harassment case awhile back where one of the head traders was making another trader perform sex acts on him and making him crossdress and take female hormones lol. They love to party at SAC.
