My Stock Value Strategy Starts Now (1 Viewer)

[Sand]

API oil report is AWFUL. It looks like I miscalculated in buying DXO today. I am going to look to dump this for hopefully not much of a loss tomorrow before the real inventory report: * API data show crude stocks rose well above forecast* Wall Street down on bleak earnings outlook, GM woes* Dollar rises as global stocks dip on earnings worriesNEW YORK, April 7 (Reuters) - U.S. crude oil futures fell further in post-settlement trading on Tuesday, after the industry group American Petroleum Institute reported a rise in domestic crude stocks that was much more than expected. The API said that for the week to April 3, crude stocks rose 6.9 million barrels to 364.7 million barrels, gasoline stocks gained 2.9 million barrels to 218.5 million barrels and distillate stocks fell 2.3 million barrels to 142.2 million barrels. An expanded Reuters poll on Tuesday yielded a forecast for crude supplies to have risen 1.9 million barrels last week.Forecasts also called for a 1.0 million barrel draw in gasoline stocks and a 200,000 barrels drop in distillates. "The 6.9 million barrel build in API crude stocks was well above the 1-2 million barrels expectation, and a similar figure from the DOE would certainly put added selling pressure on both crude oil and the wider petroleum complex," said Tim Evans, energy analyst at Citi Futures Perspective in New York. The U.S. Energy Information Administration, statistical branch of the Department of Energy, will issue its own inventory report at 10:30 a.m. EDT on Wednesday.

I'm holding out for $35, again.

 

[BassNBrew]

Oil trading near $48 this morning. Is anyone going to use this as a buy opportunity?

 

[JaxBill]

DXO is 2.88 in pre-market

 

[Ten Yard Fight]

Anyone still have the SCO a lot of us bought in the high 33's? I do. I think I might sell it at the end of the day today.

 

[BassNBrew]

Anyone still have the SCO a lot of us bought in the high 33's? I do. I think I might sell it at the end of the day today.

Why wait? If some Arab farts oil pops back to $50.

 

[JAA]

Amateur observer here ... RE Oil: With how our economy is and all the current issues, do you think the govt will allow the price of gas to shoot up like it did last year?

Im trying to think in my mind how it would play out if the cost of gas rocketed like it did last year. That would be dewvestating for this country right now. Thinking it through, I dont think our govt can let that happen. Along the lines of conspiracy theories, I dont see Oil moving that much.

 

[Lord of Football]

API oil report is AWFUL. It looks like I miscalculated in buying DXO today. I am going to look to dump this for hopefully not much of a loss tomorrow before the real inventory report: * API data show crude stocks rose well above forecast* Wall Street down on bleak earnings outlook, GM woes* Dollar rises as global stocks dip on earnings worriesNEW YORK, April 7 (Reuters) - U.S. crude oil futures fell further in post-settlement trading on Tuesday, after the industry group American Petroleum Institute reported a rise in domestic crude stocks that was much more than expected. The API said that for the week to April 3, crude stocks rose 6.9 million barrels to 364.7 million barrels, gasoline stocks gained 2.9 million barrels to 218.5 million barrels and distillate stocks fell 2.3 million barrels to 142.2 million barrels. An expanded Reuters poll on Tuesday yielded a forecast for crude supplies to have risen 1.9 million barrels last week.Forecasts also called for a 1.0 million barrel draw in gasoline stocks and a 200,000 barrels drop in distillates. "The 6.9 million barrel build in API crude stocks was well above the 1-2 million barrels expectation, and a similar figure from the DOE would certainly put added selling pressure on both crude oil and the wider petroleum complex," said Tim Evans, energy analyst at Citi Futures Perspective in New York. The U.S. Energy Information Administration, statistical branch of the Department of Energy, will issue its own inventory report at 10:30 a.m. EDT on Wednesday.

Isn't this pretty much what you thought would happen? I'd like to see it head a little lower after the report then buy some more. I'll be interested to see how low this gets considering your conspiracy theory.

 

[FavreCo]

Amateur observer here ... RE Oil: With how our economy is and all the current issues, do you think the govt will allow the price of gas to shoot up like it did last year?Im trying to think in my mind how it would play out if the cost of gas rocketed like it did last year. That would be dewvestating for this country right now. Thinking it through, I dont think our govt can let that happen. Along the lines of conspiracy theories, I dont see Oil moving that much.

How are they going to stop it from going up? It's a supply/demand issue and will be until we get off this oil addiction. It's down now because demand is not straining supply. If the economy turns, it will be the #1 strain on any robust recovery. Just be ready to move into anything that goes up if oil goes up.

 

[Buckna]

Here we go again:Bought some more SCO to average down. Cost basis = 30.204. Sold calls at a strike of 32 for $2.2623 which gets my cost basis to 27.9417. Options expire in 23 days.

I've been trying to buy back my calls since last week when SCO was in the 27~28 range but there is no volume on these things. I was able to fill 1 out of the 3. If I could have gotten all the orders filled back on Friday when I first tried I would have made 50% on the calls and then either resold them today at full value or gotten out of SCO altogether.As it is, I am going to try and sell the one I already bought back. If the order doesn't fill, I will liquidate 1/3rd of my SCO position. Options expire in 10 days.

 

[JAA]

Amateur observer here ... RE Oil: With how our economy is and all the current issues, do you think the govt will allow the price of gas to shoot up like it did last year?Im trying to think in my mind how it would play out if the cost of gas rocketed like it did last year. That would be dewvestating for this country right now. Thinking it through, I dont think our govt can let that happen. Along the lines of conspiracy theories, I dont see Oil moving that much.

How are they going to stop it from going up? It's a supply/demand issue and will be until we get off this oil addiction. It's down now because demand is not straining supply. If the economy turns, it will be the #1 strain on any robust recovery. Just be ready to move into anything that goes up if oil goes up.

how isnt really the issue. However, if it did skyrocket, dont you think the stock market would be effected? IF the stock market was effected, dont you think the oil companies were effected? If the oil companies are effected ....

 

[BR33ZE]

Amateur observer here ... RE Oil: With how our economy is and all the current issues, do you think the govt will allow the price of gas to shoot up like it did last year?

Im trying to think in my mind how it would play out if the cost of gas rocketed like it did last year. That would be dewvestating for this country right now. Thinking it through, I dont think our govt can let that happen. Along the lines of conspiracy theories, I dont see Oil moving that much.

How are they going to stop it from going up? It's a supply/demand issue and will be until we get off this oil addiction. It's down now because demand is not straining supply. If the economy turns, it will be the #1 strain on any robust recovery. Just be ready to move into anything that goes up if oil goes up.

lol

 

[FavreCo]

Amateur observer here ... RE Oil: With how our economy is and all the current issues, do you think the govt will allow the price of gas to shoot up like it did last year?

Im trying to think in my mind how it would play out if the cost of gas rocketed like it did last year. That would be dewvestating for this country right now. Thinking it through, I dont think our govt can let that happen. Along the lines of conspiracy theories, I dont see Oil moving that much.

How are they going to stop it from going up? It's a supply/demand issue and will be until we get off this oil addiction. It's down now because demand is not straining supply. If the economy turns, it will be the #1 strain on any robust recovery. Just be ready to move into anything that goes up if oil goes up.

lol

What the hell are ya laughing at? Apparently you have no clue. Here's your lesson. Before the economy tanked, we were sucking down so much oil that prices rose on tight supplies. Right now that doesn't exist, hence the drop in price. When the econony turns around and demand increased vs an inability to produce higher and higher amounts (you live in a fantasy world if you think S.A. and the rest of OPEC can magically produce anything close to 100 million barrels a day over the next 20 years), then the price will rise back over the $100 per barrel mark. It will rise BECAUSE of tight supply/demand. Lesson over.I'll add today's article to back up my points on the total schooling of you.

http://finance.yahoo.com/news/Oil-extends-...f-14880678.html

Oil prices extended their losing streak to four days on Wednesday on waning optimism that the U.S. economy will recover any time soon from the steep recession that has locked down demand for crude. At the same time, traders are expecting more data showing that inventories already at 16-year highs are continuing to grow.

"Oil will continue to sputter below or just above $50 per barrel, as economic weakness in the U.S. and globally keeps demand down and, more importantly, uncertain," said Sabino.

It's highly apparent that you have no knowledge of oil.

 

[Lord of Football]

DXO starting to take off a bit, I put an order in for 2,500 shares at 3.00, has not filled yet.

 

[JAA]

DXO 3.09

 

[Lord of Football]

DXO starting to take off a bit, I put an order in for 2,500 shares at 3.00, has not filled yet.

#### missed this one by seconds, at 3.09 now. ####

 

[JAA]

3.14

choo choo

lol

 

[Cromedog]

3.14choo choolol

Makes no sense...something else is driving this. But a classic expample of why it's dangerous to short oil.

 

[BR33ZE]

Amateur observer here ... RE Oil: With how our economy is and all the current issues, do you think the govt will allow the price of gas to shoot up like it did last year?

Im trying to think in my mind how it would play out if the cost of gas rocketed like it did last year. That would be dewvestating for this country right now. Thinking it through, I dont think our govt can let that happen. Along the lines of conspiracy theories, I dont see Oil moving that much.

How are they going to stop it from going up? It's a supply/demand issue and will be until we get off this oil addiction. It's down now because demand is not straining supply. If the economy turns, it will be the #1 strain on any robust recovery. Just be ready to move into anything that goes up if oil goes up.

lol

What the hell are ya laughing at? Apparently you have no clue. Here's your lesson. Before the economy tanked, we were sucking down so much oil that prices rose on tight supplies. Right now that doesn't exist, hence the drop in price. When the econony turns around and demand increased vs an inability to produce higher and higher amounts (you live in a fantasy world if you think S.A. and the rest of OPEC can magically produce anything close to 100 million barrels a day over the next 20 years), then the price will rise back over the $100 per barrel mark. It will rise BECAUSE of tight supply/demand. Lesson over.I'll add today's article to back up my points on the total schooling of you.

http://finance.yahoo.com/news/Oil-extends-...f-14880678.html

Oil prices extended their losing streak to four days on Wednesday on waning optimism that the U.S. economy will recover any time soon from the steep recession that has locked down demand for crude. At the same time, traders are expecting more data showing that inventories already at 16-year highs are continuing to grow.

"Oil will continue to sputter below or just above $50 per barrel, as economic weakness in the U.S. and globally keeps demand down and, more importantly, uncertain," said Sabino.

It's highly apparent that you have no knowledge of oil.

So was it Supply that increased three fold or demand that was cut by 1/3 that has dropped the price of a barrel of oil from $143 nine months ago to where it stands today?

 

[Jene Bramel]

3.14choo choolol

Makes no sense...something else is driving this. But a classic expample of why it's dangerous to short oil.

Oil really hasn't been trading the inventory report, but the official report today said inventory increased only 1.7 mil (IIRC) compared to the APIs 6.7 mil.

 

[Buckna]

Here we go again:Bought some more SCO to average down. Cost basis = 30.204. Sold calls at a strike of 32 for $2.2623 which gets my cost basis to 27.9417. Options expire in 23 days.

I've been trying to buy back my calls since last week when SCO was in the 27~28 range but there is no volume on these things. I was able to fill 1 out of the 3. If I could have gotten all the orders filled back on Friday when I first tried I would have made 50% on the calls and then either resold them today at full value or gotten out of SCO altogether.As it is, I am going to try and sell the one I already bought back. If the order doesn't fill, I will liquidate 1/3rd of my SCO position. Options expire in 10 days.

Somebody gave me a gift as my option sell filled at $2.95, well over my limit price. The bid/ask on this same option when I listed it was 1.90 / 2.20 at the time. The market makers on these thinly traded options must make a killing.New cost basis = 29.20. Although I may try to buy these back now that SCO has cratered 10% in 15 minutes.

 

[BassNBrew]

Anyone still have the SCO a lot of us bought in the high 33's? I do. I think I might sell it at the end of the day today.

Why wait? If some Arab farts oil pops back to $50.

And the cheese has been cut.

 

[FavreCo]

So was it Supply that increased three fold or demand that was cut by 1/3 that has dropped the price of a barrel of oil from $143 nine months ago to where it stands today?

Now THAT question is hilarious. Tight supplies drove the prices up. Speculation drove it higher. When everyone ran screaming because the demand was going to drop, the price plummeted. Exxagreation to make a point: If there was a find announced today of 500 TRILLION barrels of oil of which 100 million barrels could be extracted daily. The price of oil would virtually collapse.The price doesn't drop in the same % as a drop in demand.

 

[BR33ZE]

So was it Supply that increased three fold or demand that was cut by 1/3 that has dropped the price of a barrel of oil from $143 nine months ago to where it stands today?

Now THAT question is hilarious. Tight supplies drove the prices up. Speculation drove it higher. When everyone ran screaming because the demand was going to drop, the price plummeted. Exxagreation to make a point: If there was a find announced today of 500 TRILLION barrels of oil of which 100 million barrels could be extracted daily. The price of oil would virtually collapse.The price doesn't drop in the same % as a drop in demand.

Exactly. That's why your, "It's a supply/demand issue" comment was lol to me.There are a lot of factors outside of supply and demand that play important roles (including speculation which you mention above).

 

[BassNBrew]

So was it Supply that increased three fold or demand that was cut by 1/3 that has dropped the price of a barrel of oil from $143 nine months ago to where it stands today?

Now THAT question is hilarious. Tight supplies drove the prices up. Speculation drove it higher. When everyone ran screaming because the demand was going to drop, the price plummeted. Exxagreation to make a point: If there was a find announced today of 500 TRILLION barrels of oil of which 100 million barrels could be extracted daily. The price of oil would virtually collapse.The price doesn't drop in the same % as a drop in demand.

Not directing this at anyone in particular, just seemed like a good time to mention that we should keep things civil in here. This thread has been a huge help and I likely hearing all viewpoints.

 

[eoMMan]

So was it Supply that increased three fold or demand that was cut by 1/3 that has dropped the price of a barrel of oil from $143 nine months ago to where it stands today?

Now THAT question is hilarious. Tight supplies drove the prices up. Speculation drove it higher. When everyone ran screaming because the demand was going to drop, the price plummeted. Exxagreation to make a point: If there was a find announced today of 500 TRILLION barrels of oil of which 100 million barrels could be extracted daily. The price of oil would virtually collapse.The price doesn't drop in the same % as a drop in demand.

Not directing this at anyone in particular, just seemed like a good time to mention that we should keep things civil in here. This thread has been a huge help and I likely hearing all viewpoints.

 

[JAA]

n00b alert!!!When I place an order, whats my best strat for 'limit price'? Should I make it a % off the current quote? Whats the shark move herE?

Depends how bad you want it. If your entire goal is to get a great deal, set the number low so that if you do buy, you get a good price. Sometimes you just want the stock at where it's at now, and I usually lower the price a penny or two (I generally trade in stocks that are $4.00 and less) and place the order.

ThanksNext n00b question:How do I setup 'reinvesting of divideds'?

 

[David Dodds]

Just got in from a night playing poker (+890 in 11 hours) and expected to be screwed on DXO. Loving the EIA inventory report though and that has DXO up big. I still think UCOs rollover may drive DXO even higher, but I am on 13,000+ shares so I likely need to take this gain.

 

[BassNBrew]

Just got in from a night playing poker (+890 in 11 hours) and expected to be screwed on DXO. Loving the EIA inventory report though and that has DXO up big. I still think UCOs rollover may drive DXO even higher, but I am on 13,000+ shares so I likely need to take this gain.

Just sold at $3.15 for a gain of $150 less $16 commissions. I'll buy back in at the next retreat. Learn a lesson here about not taking profits when available.

 

[KGB]

Sold off my vonage at a loss and kfn for a small gain. Now in GNVC. Miseed the big rally but hoping to get into the 70s by tomorrow

 

[JAA]

Jumped into the market today for the first time. Bought KFN 1000 share at .90 $900Looking at VG soon

tell me about KFN. Why the interest?

nip

 

[KGB]

Jumped into the market today for the first time. Bought KFN 1000 share at .90 $900Looking at VG soon

tell me about KFN. Why the interest?

nip

I been looking at stock market messgage board type places and found one I ilike. Followed them for about a month and they have seemed to do very well over the last few years. So I'm basically just riding on their coattails. Kinda like subscribing to fbs . But basically its looking for trends and signs in all the chartsFor instance today I got emails...Bought gnvc at .55Sell kfnBought cfw at .4794Bought more gnvc at .62Sell vgUnfortunaly they mostly shot up before I could get in. I'm down about 200 from my 2500 but I'm in gnvc at .61 right now I'm typing this on my bb. So sorry if its formatted badly.

 

[David Dodds]

sold 13,300 DXO at 3.14 for a profit of 0.18 / share or +$2,370 after commissions.

Added 5,000 FEED at 2.31

 

[None_More_Black]

Here we go again:Bought some more SCO to average down. Cost basis = 30.204. Sold calls at a strike of 32 for $2.2623 which gets my cost basis to 27.9417. Options expire in 23 days.

I've been trying to buy back my calls since last week when SCO was in the 27~28 range but there is no volume on these things. I was able to fill 1 out of the 3. If I could have gotten all the orders filled back on Friday when I first tried I would have made 50% on the calls and then either resold them today at full value or gotten out of SCO altogether.As it is, I am going to try and sell the one I already bought back. If the order doesn't fill, I will liquidate 1/3rd of my SCO position. Options expire in 10 days.

Somebody gave me a gift as my option sell filled at $2.95, well over my limit price. The bid/ask on this same option when I listed it was 1.90 / 2.20 at the time. The market makers on these thinly traded options must make a killing.New cost basis = 29.20. Although I may try to buy these back now that SCO has cratered 10% in 15 minutes.

Thirty cent spread? Can't you find something more liquid to trade. That spread will kill you.

 

[Buckna]

Here we go again:Bought some more SCO to average down. Cost basis = 30.204. Sold calls at a strike of 32 for $2.2623 which gets my cost basis to 27.9417. Options expire in 23 days.

I've been trying to buy back my calls since last week when SCO was in the 27~28 range but there is no volume on these things. I was able to fill 1 out of the 3. If I could have gotten all the orders filled back on Friday when I first tried I would have made 50% on the calls and then either resold them today at full value or gotten out of SCO altogether.As it is, I am going to try and sell the one I already bought back. If the order doesn't fill, I will liquidate 1/3rd of my SCO position. Options expire in 10 days.

Somebody gave me a gift as my option sell filled at $2.95, well over my limit price. The bid/ask on this same option when I listed it was 1.90 / 2.20 at the time. The market makers on these thinly traded options must make a killing.New cost basis = 29.20. Although I may try to buy these back now that SCO has cratered 10% in 15 minutes.

Thirty cent spread? Can't you find something more liquid to trade. That spread will kill you.

It's not so much for trading, mainly just trying to get my cost basis down on the underlying shares so I can sell out of the position altogether.

 

[The Z Machine]

sold 13,300 DXO at 3.14 for a profit of 0.18 / share or +$2,370 after commissions.Added 5,000 FEED at 2.31

My limit tripped at $3.07 for a tidy 5% gain in one day. I'm up about 11% on my initial investment since January. I think the DOW is up about the same amount though...

 

[KGB]

In BEE. .85. 1500 shares

 

[Ten Yard Fight]

Way to go DXO sellers... What a day.

 

[BassNBrew]

Back in....2000 dxo @ $2.96

 

[BassNBrew]

Need some help in extricating myself from FAZ. I'm down about $6 on my remaining shares. Looking for an exit strategy or a possible straddle play to reduce the damage.

 

[IC FBGCav]

Need some help in extricating myself from FAZ. I'm down about $6 on my remaining shares. Looking for an exit strategy or a possible straddle play to reduce the damage.

I'm just about even with it now. Feel like I am gambling but I think market is going down soon, so I am holding on to it until at least tomorrow. Hell it can make a two dollar run the last 30 minutes of today. You can invest in FAS to off set FAZ.

 

[Ten Yard Fight]

Need some help in extricating myself from FAZ. I'm down about $6 on my remaining shares. Looking for an exit strategy or a possible straddle play to reduce the damage.

I'm just about even with it now. Feel like I am gambling but I think market is going down soon, so I am holding on to it until at least tomorrow. Hell it can make a two dollar run the last 30 minutes of today. You can invest in FAS to off set FAZ.

This will not work.

 

[IC FBGCav]

Need some help in extricating myself from FAZ. I'm down about $6 on my remaining shares. Looking for an exit strategy or a possible straddle play to reduce the damage.

I'm just about even with it now. Feel like I am gambling but I think market is going down soon, so I am holding on to it until at least tomorrow. Hell it can make a two dollar run the last 30 minutes of today. You can invest in FAS to off set FAZ.

This will not work.

Okay my bad. Can you educate me on why?

 

[None_More_Black]

Need some help in extricating myself from FAZ. I'm down about $6 on my remaining shares. Looking for an exit strategy or a possible straddle play to reduce the damage.

Not recommending anything but you could sell april 19 calls for around 2.00. They expire next Friday.

 

[BassNBrew]

Need some help in extricating myself from FAZ. I'm down about $6 on my remaining shares. Looking for an exit strategy or a possible straddle play to reduce the damage.

Not recommending anything but you could sell april 19 calls for around 2.00. They expire next Friday.

Can I do this in a retirement account?

 

[Ten Yard Fight]

Need some help in extricating myself from FAZ. I'm down about $6 on my remaining shares. Looking for an exit strategy or a possible straddle play to reduce the damage.

I'm just about even with it now. Feel like I am gambling but I think market is going down soon, so I am holding on to it until at least tomorrow. Hell it can make a two dollar run the last 30 minutes of today. You can invest in FAS to off set FAZ.

This will not work.

Okay my bad. Can you educate me on why?

I can't really explain in very good detail, but others have throughout the thread. Something to do with how it costs them to execute all the trades that allow them to use triple leverage. Both FAZ and FAS go down, they just jump in inverse directions throughout the day.

 

[Ten Yard Fight]

Need some help in extricating myself from FAZ. I'm down about $6 on my remaining shares. Looking for an exit strategy or a possible straddle play to reduce the damage.

Not recommending anything but you could sell april 19 calls for around 2.00. They expire next Friday.

Can I do this in a retirement account?

You can. I had to "apply" for options trading in my IRA. Even when approved, there are rules about the level of options trading you can do in an IRA. Basically, you can write "Covered Calls" - Calls against shares you actually own in the same account. That's what None_More_Black is suggesting...

 

[None_More_Black]

Need some help in extricating myself from FAZ. I'm down about $6 on my remaining shares. Looking for an exit strategy or a possible straddle play to reduce the damage.

Not recommending anything but you could sell april 19 calls for around 2.00. They expire next Friday.

Can I do this in a retirement account?

Depends if they allow it or not. You usually can.

 

[St. Louis Bob]

Just got in from a night playing poker (+890 in 11 hours) and expected to be screwed on DXO. Loving the EIA inventory report though and that has DXO up big. I still think UCOs rollover may drive DXO even higher, but I am on 13,000+ shares so I likely need to take this gain.

Just sold at $3.15 for a gain of $150 less $16 commissions. I'll buy back in at the next retreat. Learn a lesson here about not taking profits when available.

Missed the low, missed the high.

 

[Buckna]

Need some help in extricating myself from FAZ. I'm down about $6 on my remaining shares. Looking for an exit strategy or a possible straddle play to reduce the damage.

Not recommending anything but you could sell april 19 calls for around 2.00. They expire next Friday.

Can I do this in a retirement account?

You can. I had to "apply" for options trading in my IRA. Even when approved, there are rules about the level of options trading you can do in an IRA. Basically, you can write "Covered Calls" - Calls against shares you actually own in the same account. That's what None_More_Black is suggesting...

Same with my broker. In my retirement accounts I can only do 'Level 1" option trading which is writing covered calls (you sell the option to buy the stock at a set price to someone else and you already own the stock so you are "covered" if the buyer exercises the option to buy.) A lot of people write calls, and then hope they expire worthless and you keep the full amount of the premium you sold them for. It's a fairly common income strategy when you don't think the stock is going to go up anytime soon or could decline slightly.

 

[bigfishboy]

Need some help in extricating myself from FAZ. I'm down about $6 on my remaining shares. Looking for an exit strategy or a possible straddle play to reduce the damage.

You can invest in FAS to off set FAZ.

This will not work.

Okay my bad. Can you educate me on why?

I can't really explain in very good detail, but others have throughout the thread. Something to do with how it costs them to execute all the trades that allow them to use triple leverage. Both FAZ and FAS go down, they just jump in inverse directions throughout the day.

Because the falling fund typically falls faster than the rising one. You would lose more money than just selling at a loss. (typically)