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Daily stock trading thread

Old 02-05-2009, 07:05 AM
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Default Daily stock trading thread

A lot of us are day trading this market for all of its worth, I have no problem sharing the stocks I have been doing it with, this is by no way a complete list and in no way should these stocks be traded with out doing your home work.

Ok now that, that is out of the way, I have been trading SRS, ERX.

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Old 02-05-2009, 07:22 AM
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I use SSO and SDS (long and short ultra s&p500 etf's).
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Old 02-05-2009, 07:29 AM
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Bought Feb $23 puts on VLO yesterday @.87.
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Old 02-05-2009, 07:41 AM
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I don't do all the fancy stuff you guys do but STAR produced a 41.3% ROI for my self directed trading account last year. I'm hardly a day trader by definition and bought/sold it ~23 times last year. It's up big recently too...
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Old 02-05-2009, 07:44 AM
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Firefly that is great info, I am not a very sophisticated investor myself but things like you describe are still ways we can do it.

Keep them coming.
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Old 02-05-2009, 09:11 AM
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I had read this recent statistic, somewhere, that said that 95% of trading on the markets today is by day traders. The big, online casino/day, swing, position-traders, whatever way one wishes to trade, is the way it is going to be for the rest of time as the internet has enabled all of us with the extra money to play the big money game so very easily. Point and click and ca-ching!, profit!, about as free-money as it gets. We pay the taxes and the fees and anything else and be glad that we are giving back to the people.

All the articles on the buy and hold strategy say that it is dead, "RIP-Buy and Hold", and will be, at least for the time being, who knows?, maybe for all time. Who can wait for profits in this day and age, the time has been NOW! Scream it from the rooftops! Make it while you can and while the getting is good, isn't that what everyone on Wall Street/Banking Industry/Government has been doing all this time? It is as if people realize that time is short and that to live good now is better than not living good at all. Our Given time really is short though, not like we who can read don't know that.

All the volatility, day in and day out, from all the traders. What I see is that every few days, things go up and things go down, wild swings that have never been seen before, wild I tell ya. Now, no one even blinks when the DJIA goes up 150 or 300 in a day, or down the next day or two or three, what is the big deal?, wait a few days and it will go back the other way, and if it doesn't, who cares?, as long as profit is being made, isn't that the point? The swings have to be from all the profit taking that goes on each and every day and it has been awesome. Whoever saved their pennies for that rainy day, well, it has been raining and pouring and if we have to pay the $14 round-trip fee to the online broker or whatever interest on margin, plus the 15% Capitol Gains Tax, well, take it from me because the trader is still ahead, bottom line, right? Let the online casino with the best odds on the planet earth continue! Thank goodness for the NYSE!, and all the worlds markets.

I keep an eye on one gold mining stock as well as to the price of gold, as the price of gold rises and falls, so do all the mining stocks, it is almost that simple for me. With all the fear and the "blood running in the streets" worldwide, the safe-haven of gold has been making me some incredible returns since the end of October. The ups and downs of the stock price, when I think about it, almost stagger me. The whole "trading or trending sideways" has been, did I say the best already?, the best. Things can keep trading sideways for as long as the market likes. There has been a new way to play and it is being played whether we like it or not. How will the DOW ever get back up when short term profit taking will keep going on forever?, I just don't see it, but then again, not more than a month or 2 ago, I didn't think that the market would retest the November low, what was it?, 7,500?

The absolutely DISMAL jobs report from this morning had the stock jump over $2 in 2 days, and the price of gold has been up and down and up and down, then up, then down, hip-hop-hooray!, the price of gold from $875 to $930 and all over in between, then profits get taken, the stock price goes down again, everyone buys back in and it does it over and over and over again. Good times indeed!

I won't even look anywhere but at the 2-3 stocks I follow and for the past 2 months, I will only trade 1 as I have gotten a pretty good feel for it and it has not done me wrong yet. What a racket.
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Old 02-05-2009, 11:21 AM
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bellsisland - 2/5/2009 10:44 AM

Firefly that is great info, I am not a very sophisticated investor myself but things like you describe are still ways we can do it.

Keep them coming.
Another favorite to make a quick buck with little risk (but unfortunately lots of exposure) is to buy VZ. Any given day the trading range is ~$1. So I buy 2000 shares at the end of a down day and put in my sell order asap to make 70 or 80 cents. Sometimes I time it right and I'm in and out in a day or two, other times I an stuck sitting on it for a week, maybe two if I really got in at the wrong time. Not too much risk with them paying a 5.5% dividend either so it have to sit on it long term I'll always get my money back. I've never lost a penny trading VZ.
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Old 02-05-2009, 11:42 AM
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What online brokerage account do you guys recommend?
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Old 02-05-2009, 11:49 AM
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I like Scottrade because of $7.00 trades. They do not have a lot of hand holding, but the research features are fine for me.
I can download a whole years worth of history directly into TaxCut tax program. I do hundreds of trades a year in two accounts,
one sheltered, one not. I trade DXD - (ultra short DOW) and SSO - (ultra long S+P) presently. Buy and hold is gone forever IMHO.
I have the luxury of being retired early and can monitor a position by the minute. I almost never hold a position over night, and
never over a long weekend.
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Old 02-05-2009, 11:57 AM
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My trades are free but there is no such thing as a free lunch as they say
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Old 02-05-2009, 01:12 PM
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Scottrade for me as well, but online traders are like sweater, everyone has to find the one that fits for them..

Thundra, you didn't give the names of the stocks you are riding, let the rest of us in on it.
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Old 02-05-2009, 01:40 PM
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Research the insanity on the following 4, ABX, NEM, GG, GFI, they all go up and down wildly, all day, all week, since the end of the October Apocalypse. This is no secret at all, they are some of the biggest mining companies out there, some have NO DEBT and don't hedge so it is no wonder their stock prices have bounced back close to 100%-if not more, since the October/November fiasco and have gone up and down depending on the price of gold/news/how the DJIA/USD-value goes/other world exchanges go, it is something to watch, I think. I sure am no expert but with a little reading online on what to do and with the discipline and all that jazz that is needed to chip away $2-800 a week, well, it takes money to make money and it takes some intelligence too. Being dumb costs money, doesn't it? All those mining companies do is dig into the ground for metals, simple right?, and people buy the metals and pay big bucks for some of them/gold/platinum/palladium, no wonder they are so profitable. Daytraders trade them all day long thus the incredible volatility/intraday volatility, swinging from $1-2, up and down within a day. I scratch my head on many days seeing the price go down .75-$1.50 then right back up in one or two hours and have been lucky to catch as many as I can. As the UK cut its interest rate today, gold rose again. Gold will go up and down for a while now as the world is in a true panic, if it has been bad here in the US, imagine what it has been like elsewhere so all those other countries wealthy people buy into the "gold as a safe haven" and thus the fluctuations, good, nothing like blood in the streets and higher numbers in the cash account I say. In the past I could not have cared less about gold, but if it makes one money, I'll gladly be a student and learn.

It is a day/swing/position traders heaven right now.

Pick one of the 4, research it, get a feel for it, and the boat payment and gas are on whoever loses their money in the game(all the other suckers), nice huh?
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Old 02-05-2009, 02:02 PM
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Thundra check out SRS swings of $5 avg almost daily
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Old 02-05-2009, 07:38 PM
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Interesting thread. I need to make up about 95K but not sure I have the courage to day trade.

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Old 02-05-2009, 08:00 PM
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Don't be sucked into day trading unless you are willing to take losses along the learning curve. Most day traders go bust. With the market's crazy volatility a winning position can go south quickly. If you decide to give it a try please put in a 2-4 point stop loss and use trailing stops on winning positions. If your palms sweat when you hit the "Buy" button you're buying too many shares.
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Old 02-05-2009, 08:25 PM
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I think the death of buy and hold is greatly exaggerated. Institutional funds hold the lion's share of the float, and they can't day trade, and the market doesn't exist without them. We buy shares, they buy blocks.
I also think day trader means different things to different people. Some think it'd the person who makes a buy in the morning, and sell it that afternoon for a dollar. To me, day traders are the guys who trade for pennies, and do it a hundred or more times a day.
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Old 02-06-2009, 05:44 AM
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For me atleast for now, this is just for fun, I am not investing a whole lot and if I lose all that I am playing with no big deal. Everything I have read says make a plan and trade the plan, take the emotion out of it.
So if your plan is to try to make a $1 gain on a stock, buy it with a really tight stop loss, and then sell when you make your gains.

Also open an account with one of the brokers and fake trade for a couple of weeks until you get into a pattern. But it is hard to time it.
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Old 02-06-2009, 07:43 AM
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I'll agree, it is fun when things go well and every buy and sell makes a profit, that is for sure. Like in a casino, when one loses, it sure is no fun. It is just that a casino has a, what?, something like .95-cents of every dollar does not leave/the house has a better than 95% edge on every bet, whereas the odds on a stock are just so, so much better. I just like typing about it all and thinking about it, makes me feel better and reaffirms my strategy, hell, all someone else did was point ME in the right direction and I have taken it from there, like a good Jedi.

The end of buy and hold may be exaggerated but for all those who are "trading" and not "investing", so long as everything keeps gong sideways, money is being made and lost and the point is moot. In our internet age, and the now, now, now generation, who can wait?

Being relatively new to the game since my Dad took me to the online broker office after 9/11/2001 and all the stocks were down, I took my winnings from then until I needed a new outboard in 2006 and stayed out of the game till this past October/November as I waited for something like what went on now to get back in/the current "Golden Opportunity." He is my guru and just gave me some simple advice and that was it, the most important being, "One does not make money until one sells." I think of it every time I consider my sell point and I just do it as profit is profit, thanks Dad.

The "plan", the "discipline", the "emotion", all the advice one can get from looking up "day/swing/position" trading online is incredible and FREE!, what is better than free anyway?, because there is better than free, when someone pays you to take it, ha! All the advice about not reading too much on forums, or the news, or the charts is so very true. I still read all I can just to satisfy my twisted need to learn all I can about everything, I'm sick, I know, but there are worse addictons than reading, like wanting to make money the easy-way. It is just that one has to know when to act on information and more importantly, when not to and just to file it away, forget about it or dismiss it.

At least for now, as I feel I've gotten to know this one stock pretty well, like this morning, it opened so much lower than it closed, then all the traders bought it up making the price rise in the span of 30 minutes, sold all the shares before 10am and squirreled away the profit till the next time it goes down. Point, click, ca-ching-a-ling-a-ling!
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Old 02-06-2009, 08:48 AM
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Anyone who thinks day trading is an easy way to make money is one bet short of disaster. Because a stock opens lower than it closed doesn't mean it's going up. And the next time it goes down and you buy it might keep on going down. The market maker will eat your lunch. On what basis are you making your buy decision? Just be careful.
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Old 02-06-2009, 09:55 AM
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Funny how we read all the success stories of day trading but not the failures. It is not for the faint of heart and remember there are 2 sides to every trade.
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