This is a sample guest message. Register a free account today to become a member! Once signed in, you'll be able to participate on this site by adding your own topics and posts, as well as connect with other members through your own private inbox!
Sold 2,000 FAS at $4.11 for a profit of 47 cents a share. This equals $940 - $12 in commissions
You are set up very nicely for a rebound and little downside at this point.
####, I should have pullled the trigger at $2 yesterday.
You've gotta consider moving some of this now...assuming that there will be more fluctuations in the stock price before summer? I wish that I was in this position. I'm still under water on EXM and UCO.
Bought to close on Monday when UCO got clobbered. Made a 50% gain on those options. Sold some 9.00 contracts today that I expect will likely expire worthless and get my cost basis down into the mid-8's. In the unlikely event UCO pops back above 9 somehow I get out with a modest gain. The current contracts expire in two weeks, will sell some more then.~~~~~~WFC is getting absolutely clobbered today on an up day for the whole market. I continue to watch this one.
I really think this sector is still way too cheap and also believe some institutional money (that all left a few weeks ago) will start returning. I am in this stuff until May or at least until it rises a lot more. Hard to sit and hold after these gains, but I love this sector.Cromedog said:
I also think WFC is a huge steal right now
IMHO, I think the shorts are all over the stock trying to push it down based on the assumption they will slash their dividend. Thing is, it's been pushed down so low it will probably go up if they do announce a cut.
Good move. I'm still sitting on 420 shares of UCO, have 4 covered calls written on them. If the 9's were to hit I'm out with a gain, otherwise my cost is continuing to dwindle.
If UCO hovers in this 6~8 range for the next few weeks I'm hoping I'll be able to sell some ITM 7.5's that will get my cost basis down close to that strike. I'm just trying to stop some the bleeding that took place when they rolled over the futures contracts. If I can get back to even I'll consider that a win.
I'm with you here. I got so upside down so fast on UCO it was amazing. I had a sell order in while I was ahead but backed off when my online broker basically said I was selling under "free ride" rules which could lead to an account freezing. Ever since that morning UCO was all downhill. I think I've mitigated the downside as best I can right here and a rally to 9 would lead to a slight profit. Like you, if it starts hovering in this range I'll just continuously write covered calls until I'm in it at an attractive price.Most of my moves are still involving GLD, SLV, and DBO. I have the little bit of UCO discussed, some DBC, and also a little GE. Luckily I have very little GE and what I have I'm under 9 in so it's not the total bloodbath it could be.
Know anything about ATN? They got crushed this week and last, after what looked like pretty good results. Been looking at them for a while.
I will be following your lead. I've got around 30% of my holdings in SBLK. Glad I doubled down on OIL a few days ago. Great timing there for me as oil was under $40. It's now above $45 and gained around 8% today. Keep it rolling and I'll be in the green again soon.
David Dodds said:
Fidelity
Scottrade allows stocks under $5.
I think you're right. I found this on their website. Apparently I read this wrong when I originally signed up:"You can trade any stocks listed on the NASDAQ, NYSE or AMEX stock exchanges. You can also trade ETF's and market indexes. As long as the stock price is $0.25 per share or higher you can buy it. Short selling is allowed for stocks $3.00 or higher. Buying stocks on margin (loan) priced less than $5.00 is not permitted."
Bought some BBT today at roughly $14. Could have caught it as low as $13.25. This will be a long term hold. 13.4% return via dividend if it holds.
uh, how you lookin today dave...
I bought about 15% too early. I see forced selling and panic, though, so I'm holding.My MLP purchases are about even. With 10% tax reduced yields, holding the line is just fine by me.GLD and DBO doing just fine. Holding those for a while.
Or at least point me to the proper spot in this thread where this has been discussed???Anyone???
:XThings look to be stablizing. Looks. I think I have to buy at least half the next drop.
I'll do my best but I'm just a gambler..Simply put, the price could go down. There is such a glut of oil right now that it has been in a relative tight trading range fro some time. Do a Google search on oil contango, that should help you out. It was discussed a lot in this thread towards the beggining.I'm with you though longer term. I think UCO & DXO are good buys.
Luckily, I made it out alive. Twice.
I got into UCO the day it puked from around $10, and was below $6 a couple days later. I got out today when it hit $8.10. I have promised myself not to mess with oil related ETF anymore. I am looking at the financial (FAS) and market index ETFs now. I have more confidence that they will be up over the long haul that the oil ETFs.Luckily, I made it out alive. Twice.
More good info here too: http://biz.yahoo.com/ap/090306/oil_prices.html
Personally, my trigger finger is getting more than itchy. I'm waiting for Monday though unless DXO somehow comes down to around where it started.
Glad to see the green returning to the numbers and gone from the faces.
