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What makes you think its going to continue to go up?
Virtual Stock Trading Game - Niketalk competition
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I wouldn't short BAC until it at least goes over 9 and hovers around 10.
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I guess I'd have to throw the question back to you and ask what makes you think it's going down (in the near term)? They just sold half of their CCB stake and I think the Buffett enthusiasm will continue a little longer (at least until there's add'l bad news
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They have no catalyst going forward that can result in good news really. They still need to raise money which has alot of people worried about another stock offering. They can get another lawsuit at any moment. They can settle one of their lawsuits which would result in less cash. Due to the quick rise next red day for the markets could cause a huge drop. They're seems to be more cacatalyst for it to go down then upOriginally Posted by jimmybeanz
I guess I'd have to throw the question back to you and ask what makes you think it's going down (in the near term)? They just sold half of their CCB stake and I think the Buffett enthusiasm will continue a little longer (at least until there's add'l bad news).
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Im sooo lost lol. How do I get rid of the stuff I bought?
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Disagree. They could:Originally Posted by Rompe Toto
They have no catalyst going forward that can result in good news really. They still need to raise money which has alot of people worried about another stock offering. They can get another lawsuit at any moment. They can settle one of their lawsuits which would result in less cash. Due to the quick rise next red day for the markets could cause a huge drop. They're seems to be more cacatalyst for it to go down then upOriginally Posted by jimmybeanz
I guess I'd have to throw the question back to you and ask what makes you think it's going down (in the near term)? They just sold half of their CCB stake and I think the Buffett enthusiasm will continue a little longer (at least until there's add'l bad news).
- announce a sale of another unit
- layoff 5,000 workers
- reach a settlement with MBIA or at least reduce their exposure in that suit (which some ppl are saying is going to happen)
- reach a settlement on some of these Countrywide claims
Any of the above would be good catalysts. I have to disclose that I do own BAC in real life, but it is a long term play. I agree with Buffett (or I should say Buffett agrees with me) that BAC is fundamentally a good company. If you're shorting and have a REALLY good idea about your margin for profit (and don't believe that it's wide), there will be some opportunity. That's just my 1 cents.
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Is it too late to join?
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Originally Posted by jimmybeanz
Disagree. They could:Originally Posted by Rompe Toto
They have no catalyst going forward that can result in good news really. They still need to raise money which has alot of people worried about another stock offering. They can get another lawsuit at any moment. They can settle one of their lawsuits which would result in less cash. Due to the quick rise next red day for the markets could cause a huge drop. They're seems to be more cacatalyst for it to go down then upOriginally Posted by jimmybeanz
I guess I'd have to throw the question back to you and ask what makes you think it's going down (in the near term)? They just sold half of their CCB stake and I think the Buffett enthusiasm will continue a little longer (at least until there's add'l bad news).
- announce a sale of another unit
- layoff 5,000 workers
- reach a settlement with MBIA or at least reduce their exposure in that suit (which some ppl are saying is going to happen)
- reach a settlement on some of these Countrywide claims
Any of the above would be good catalysts. I have to disclose that I do own BAC in real life, but it is a long term play. I agree with Buffett (or I should say Buffett agrees with me) that BAC is fundamentally a good company. If you're shorting and have a REALLY good idea about your margin for profit (and don't believe that it's wide), there will be some opportunity. That's just my 1 cents.
jimmy how long do you plan on holding?
it is purely unfounded speculation on my part (terrible way to invest, i know) but I am thinking that after 2 days of fairly sizeable gains that BAC is due for atleast a short term dip. I wasnt playing with much to begin with (300 shares) but I got out completely today at $8.25 with the intent on getting right back in if it dips below $8 sometime this week, hopefully even a bigger dip than that. TBH, I'm just kinda goofin around with it right now because I just opened an account and am still messing with the free trades so no fixed costs involved. Eventually I want to buy and hold for the long term but I'm not sure how long to hold.
BAC is trying like the devil to right itself and become managable. I still stand by $10 November-+!!. Financials are extremely, extremely volatile right now (and have been). You can short them, but you better cover your !!*. The risk in shorting something, especially something as heavily traded as BAC, is very high.
How many of us saw the Buffett deal come? Right, none of us. So when the market opened and it jumped past $8 that would have trigged quite a few issues.
Mojo - don't forget about taxes, either since you're talking real life.
How many of us saw the Buffett deal come? Right, none of us. So when the market opened and it jumped past $8 that would have trigged quite a few issues.
Mojo - don't forget about taxes, either since you're talking real life.
shatterkneesinc
Banned
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i havent done a trade in 3 days
techs are looking very good right now
there is too much bs going on in financials. warren buffet is a pump and dump snake.
i have the feeling goldman is going to die soon
techs are looking very good right now
there is too much bs going on in financials. warren buffet is a pump and dump snake.
i have the feeling goldman is going to die soon
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it's a long term play, so more than a year. again, i think fundamentally they are a good company. ALL of their issues the last 3 years have stemmed from 2 things; purchasing Countrywide (which was the dumbest thing Ken Lewis ever did, and purchasing Merril Lynch (which Ken was forced to do by Paulson). their consumer and retail banking units have been/will be fine. if they had "stuck to their knitting" they wouldn't be in this mess.
even if you discount everything i just said, you can't discount buffett (and I did purchase my BAC shares 3 weeks ago). he doesn't buy companies that "need" his money. he buys undervalued companies that he can make a buck on. the goldman sachs stock/options he purchased quickly come to mind.
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Buffet makes his money off the dividends. The stock could tank and hell still make his money. I think it will be an interesting year or two for BAC owners/shorters either way.
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lol wrong thread
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i still want that password
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Back in the green
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Originally Posted by VoidEmperor
i still want that password
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that's kind of a mischaracterization. it gives the impression that he doesn't make money off the stock and he does. it also gives the impression that he'll "loan" money to any ole' company and he doesn't. he's not going to give a company heading towards bankruptcy his money. he just severely believes in the investing adage of "pay yourself first". when you give someone $5billion, you're in a position to tell them you want to get paid upfront, on the side, and on the back end (dividends, preferred shares, and 10year warrants, respectively). basically, "f--- you, pay me" - that was goodfellas right?
i do agree that it will be an interesting 2 years.
If you want the PW, how hard is it to PM me like it's stated? I'm not going to go through this thread and personally PM the people who want to play. You want in, take the 30 seconds to message me and I'll reply.
This thread is for %+## talking, questions, banter, etc. We don't need numerous "I want in posts".
As for the Buffett subject - when he invests such large positions he's basically guaranteeing his investment, ala preferred stock, versus going to market and paying market rate. He'll get his money back and then some as jimmy is saying.
This thread is for %+## talking, questions, banter, etc. We don't need numerous "I want in posts".
As for the Buffett subject - when he invests such large positions he's basically guaranteeing his investment, ala preferred stock, versus going to market and paying market rate. He'll get his money back and then some as jimmy is saying.
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Originally Posted by KidJoke
Originally Posted by VoidEmperor
i still want that password
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Originally Posted by 2morrowbegins2day
Originally Posted by KidJoke
Originally Posted by VoidEmperor
i still want that password
It's like they don't even read the thread, the OP, or the OPs post right above his.
I haven't made any moves since I bought my first stocks to start the game. I'm in 26th up like $1200 or something. What's a good method for finding stocks that you can day trade or hold on to for a few days and move for quicker profits? To win this that's definitely what you have to do. Buy and hold won't win this.
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that hurricane @@+@ really threw me off...i didnt even know the markets opened yesterday
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my reign at the top won't last. any of yous trade on a prop desk?
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Any other people heavy into Biotechs?