FAS anyone?

WoW - Troll Warrior - Protection Spec - Lvl 80
Happy Activision Stockholder since 2004 :tiphat:

I can give you a few books on why daytrading is for fools..............:stirthepot:

How is this ******* productive? What value did that comment add to the thread? Do you think you're funny, or right? man people like you piss me off.

Its like you think by reading books you know more than the next guy? Give me a few books? I don't need books, I just quit the industry 4 months ago.

We are trying to exchange useful information here and what do you do? come in here and call us fools and try to pretend you are cool even though you just made the nerdiest WoW joke I've ever heard?

Do you even have a 370z yet?

I'm not even gonna get started on your sig because somehow I'm not surprised about how obnoxious it is.

Any other stupid comments to stir the pot or do you want to say something useful for a change? Your choice.

I have no more patience for crap like this.

<--- Equity Trader for a "small" capital-management firm.

I'm not at liberty to divulge too much information, although it's safe to say that I personally will be initiating a new short-position in AAPL in about 5 hours. :tiphat:

newegg is an excellent company!

ima edit this for an explanation: I'm an IT Consultant, I've been using newegg for a few years now. Hands-down, the best customer service, best prices (usually), fastest delivery. Amazing website.

As for IPO's, beware. The usual scenario is for a quick pop on an IPO, followed by a steep drop. Not saying it's gonna happen (look at the Mastercard IPO), but it is a very common occurrence.

I'm going to keep an eye on the newegg IPO, though, because I like investing in companies I like to do business with...if the price is right.........................................

Easy there big fella. No offense intended. It was my opinion, nothing more. I suppose in my defense, holding Activision as my largest holding for 5 years proves my point, being in the stock market for decades does the same. I've done very well in the markets, I think the DJIA was somewhere around 1000 when I first got in. I'm 55, and I quit my full-time job 4 years ago. Dividends alone pay my mortgage. Compounded dividends, over time, ftw.

I didn't make a 'WoW joke', so not sure where that is coming from. I did make a comment that I actually have a WoW account. In fact, I created it for DD on my Activision holding when the merger with Blizzard was announced. It convinced me to substantially add to my ATVI.

Don't have a 370Z yet, sorry about that. And I am not alone in that regard on this forum. I'm waiting for the sale of a piece of real estate to close. Yes, real estate. A great investment, long-term. Then I'll pay cash for my 370Z. In fact, I could buy 40 of them from the sale of this house in Brooklyn, but one should be enough. Just checked with Fusz on his inventory yesterday.

Didn't realize ownership was required to post.

I suppose in retrospect I was a bit harsh using the word 'fools'. Stupid on my part.

I don't read too many books on the subject, never have. My old man was head of the Trust Dept for Bankers Trust on Wall St back in the day, and his old man owned a brokerage. I kind of grew up with this sh!t. The fact that you "quit the industry 4 months ago" does not impress me in the slightest, but I've never had an issue with you (or anyone else besides the mudman) on this forum. Seems to be a touchy subject with you, so I'll just back off trying to give "useful information" about why I think daytrading is a losing bet. That doesn't mean I don't wish you good luck at it, or success.

As for the sig, you think it's obnoxious, that's fine with me. Your opinion on my sig is worth nothing.

You want a tip? Buy Eli Lilly asap, hold it for ten years, you'll be rich. Look at the cash flow, look at the P/E.

Again, no offense intended, had I realized how passionate you guys are about the subject, it never would have happened.

On that note..........................:wtf2:

Joe, shut up. :tiphat: How's the AAPL short working out this morning, oops.

Fairly well. It was initiated this morning at $202.06. Looking to cover under $198 today.

Work picks up = me bowing out of daytime trading for a bit. Back into some mutual funds I go for the next six months or so...

Yay for Vanguard no-fee funds!

Vanguard ftw!:icon18:

Hey if it ain't BS, grats. Your post is long after it went up. Hmmm, Marketcaster is showing the high for the day is $201.75. What time did you short the stock?

This alone shows that you are in no position to speak to me about the markets. Please go to school, or at least educate yourself on the subject. :rolleyes:

The position was opened pre-market right around 5:00 AM PST, exactly 5 hours from my initial post in this thread as I called it. Covered between $198.325-$198.29 20 minutes ago.

$3.75/share gain x 790 shares - an insignificant commission...you do the math, then come back and tell me that "day-trading is for fools." This was a simple trade that didn't even much attention in front of my Bloomberg, allowing me to allocate resources to other trades.

No need to get testy, Joe. As I stated, and you must have missed: "If it ain't BS, good call". So if it ain't BS, Joe, good call. Feel better? Not always easy to slide in pre-market on a run like AAPL, as I'm sure you well know since you are the Warren Buffett of eTrade. Get off your horse now, sonny. I'm sure we won't be hearing about all the daytrading that didn't work out, hmmm? Your post was at 1pm. No way to verify you aren't completely full of sh!t. Your trade was for $157000? I call BS. After all:

http://www.unc.edu/depts/jomc/academics/dri/idog.jpg

Now hurry along, Joe. Fast Money is on in a few minutes. Loser.

Where do you guys get your information on companies that have events coming up for them that could affect their stock? I've been interested in joining E-trade for awhile now, but would like to learn some more about it.

Don't watch Cramer, Fast Money, or pretty much anything on CNBC, it's all worthless nonsense.

Read The Intelligent Investor by Benjamin Graham. It was written in 1949, I think. But don't take my word for it:

"By far the best book on investing ever written." -- Warren E. Buffett


"There have been other good books written about money since 1841, but only a few hold up. The best known and most likely to make you money is The Intelligent Investor." -- Andrew Tobias


"Graham ranks as this century's (and perhaps history's) most important thinker on applied portfolio investment." -- John Train, author of The Money Masters

Thanks I will have to check that out! But for example the Newegg IPO, where do guys get the tidbits on what all these companies are doing. Is there a site? or is it just word of mouth? lol I sound like a complete loser when it comes to this stuff.

Boost, the only thing I can tell you is that I have both an eTrade account and a full-service account at Smith Barney. The full service account gets me access through my broker to these "tidbits" you seek. However the full service broker comes with a rather hefty commission.................

good luck Boost, read that book.:tiphat:

The only reason I watch Cramer is to play on the people who actually buy the stuff he recommends (which is 10% correct IMO lol)

Some of them actually get affected quite a bit after he makes a call. Cramerica is good for something!

Cramer is an intelligent man who has lead a very successful career as a fund manager. Yes, he is merely an entertainer, but his principles and ideas are no different than what any other knowledgeable broker/manager would advise any of his retail investors. Note I said principles and ideas and retail investors. Individual picks, on the other hand, are a different story. I would not advise anyone to act on a single stock-pick they see or hear about on TV or any form of mass-media. CNBC and Bloomberg should be used strictly as they are intended for as a news outlet, not investment advice.

370Zsteve, please refrain from wasting my time by responding to my posts. Become a fund manager by profession, and then perhaps I will give you the time of day. Thanks. :tup:

LOL Joe. Nice.

Now JoeD is a fund manager. LMGDFAO! What a douche! And it's advice, dumbsh!t, not advise.

Fund manager. LMAO!

I had to edit this...since I just read the whole paragraph where the Fund Manager (lmao) states that "(Cramer's) principles and ideas are no different than what any other knowledgeable broker/manager would advise any of his retail investors"

Joe, I was advised not to feed you. I'm taking that advice, you reek of absurdity.

Joe is an equity trader... never said he was a fund manager.

You are an IT Consultant... so who are you to give investment advice? You come in and tell us that the premise of this thread is stupid, because you've read books that "prove" it. Like RCZ, how is that productive? If you want to discuss your portfolio theory, start another thread. It's pretty damn simple.

Ah. I'm an IT Consultant now. Perhaps I used to work on Wall St. Who knows, eh? You'd better re-read the subject of the thread, also my previous posts. I never said the premise of the thread was stupid, I presented my viewpoint of daytrading. I even gave a stock pick. And I never said I've "read books". In fact I said I "haven't read a lot of books". Get your facts straight, and let JoeD fight his own war with his ego. Or does he need your help?

Probably a good time to leave this thread to the fund manager and Cramerica. :bowrofl:

LOL...you are not only a Wall St. whale but a scholar of the English language, too. :)

Since your reading comprehension is at a level far above mine, can you perhaps point out where I said I was a fund manager? Good luck with that. Oh, and BTW...pat yourself on the back for dwelling on one of my very rare typographical errors. Having to nit-pick on such a level is certainly a sign of a strong argumentative stance on your position. :tup:

MODS: Please fell free to clean up this thread, but please don't lock/delete it. It would be a shame for this topic to go to waste, although it would be beneficial to start a new thread...perhaps with an age-requirement for entry?

LOL, bye Troll

:tiphat:

I should stay away, but how can I resist? Do your due diligence, research and invest in companies that will make you real money rather than listening to fast-buck types that chase squiggly lines around a chart all day. :hello:

We now leave this thread to the line-chasers, as they cannot handle constructive criticism. Mebbe I start a thread about how to "invest" and not "speculate". Y'all are welcome to join it and flame the living crap out of me.

Lilly swings to profit, raises forecast

BOSTON (MarketWatch) -- Eli Lilly & Co. said Wednesday it swung to a third-quarter profit after solid sales in the 2009 quarter as well as year-earlier litigation charges related to its drug Zyprexa.

Lilly (LLY) posted net income of $941.8 million, or 86 cents a share. In the year-ago period it lost $465.6 million, or 43 cents a share.

Last year's quarter featured a charge of $1.48 billion associated with litigation over its psychiatric drug Zyprexa.

This year's quarter contained a charge of $425 million related to the sale of its Tippecanoe, Ind., facility to chemical-maker Evonik Laboratories AG.

Excluding various items, Lilly (LLY) would have reported adjusted earnings of $1.20 a share versus the year-earlier 98 cents.

Revenue for the quarter rose 7% to $5.56 billion.

Lilly's results topped Wall Street estimates. A poll of analysts by FactSet Research pegged Lilly at posting earnings of $1.02 a share, on revenue of $5.41 billion.

Lilly's positive report prompted the company to raise its financial forecast for the year. The company said that it now expects full-year adjusted earnings of $4.30 to $4.40 a share, compared to its previous forecast of $4.20 to $4.30 a share. Reported earnings per share should come in between $3.90 and $4.00.

Analysts were expecting a profit of $4.29 a share, according to FactSet.

Sales of the company's best-selling product, the psychiatric drug Zyprexa, were $1.22 billion, up 3%. Sales of the antidepressant Cymbalta, its second best-seller, rose 10% to $790 million.

The company's diabetes product Humalog saw sales climb 16% to $500 million, while sales of the oncology product Alimta took in sales of $462 million, up 47%.

Hope it now makes sense to others why I covered yesterday.

Bought AAPL pre-market today at $199.41 and sold a little too soon at $205.29. Got back in at $204.83 where I'm holding my current position. Stop is set at $206.50, sell on a 0.5% break-out of today's range.

AAPL is one of the easiest stocks to trade around earnings.

What position are you in to talk down on trading? You do know that some of the biggest financial institutions in the world have a good portion of their revenue-structure centered around trading, correct? Go tell Goldman Sachs that they are wasting time chasing "squiggly lines” and “buy and hold” is the only way to go. Oh yeah, that’s right…buy and hold was dead for a two year period between early '07 and early '09.

Trading is not about making a speculative "quick buck." Those who treat the markets like a casino usually come out short in the end. Properly executed trades can essentially multiply long-term growth. Of course I have investments which are managed by other professionals that I don't need to watch on a daily basis, but even an abnormally high 40% yearly return on an investment doesn't compare to 1-1.5% daily returns from trading.

A perfect example of this is AAPL, one of the few stocks I can mention as my firm holds no current position. I was just stopped out and I still booked a sizeable profit between yesterday and today. Go back and monitor my trades.

Joe, I guess my problem with you is that everything is past tense with your alleged trades. You see the same thing on garbage sites like Yahoo Finance.

I can't really say you're full of it, nor can I say your trades are real. All I know is, folks that claim to make 1-2% daily via trading rank very low on my Veracif!er BS Scale. Very low.

Take for example a post I made on my new thread.

My cost basis should now hover somewhere around $30/sh

It's all real-time. I'll check it's performance every now and then, no worries.

I suppose if I was about to retire the current market would be a drag. I took a nice hit last year. I'm sure you did extraordinarily well, of course. I used the opportunity to move a lot more money into stocks, and I focused on cash-flow, low-debt, high dividend yield large caps.

I guess time will tell. I'm a patient investor. And Joe, you are no Goldman-Sachs.

Thanks for ruining the thread 370zsteve. You have been so useful. Mods Can we please get a clean up....

Just let him talk guys, **** him.


Lets keep this thread on track.

That damn downgrade of wfc made a mess in my portfolio today.

Holy crap this thread got shat on! lol... thats what you get when you are away from the 370 world for more than 2 days lol... Anyhow - Anytime you respond to media telling you to buy / sell... you have to remember that other people will react faster than you... which is why you try and make those predictions BEFORE they announce it... there is risk associated with everything...

RCZ, I think I apologized after your little hissy fit the other day. I started a new thread that reflects my tastes. I learned something...Never tell someone on an internet forum that they are full of crap. It's an argument that no one will win. :tiphat:

Its ok, keep talking.

Good afternoon for the market today.

:tiphat:

You can tell people they are full of crap just fine... there's just a time and place to do it. Don't agree with day trading? Just start a thread about longer-term investments and there you go. No one gets pissed and we can continue on like adults... which I assume all of us are. Maybe we should work on acting like it? :tup:

LOL...his argument against trading is still beyond me. Perhaps if I got my degree in Computer Science instead of Economics, I would have a better understanding as to why buy and hold is the only way to make money in the markets.

I can't wait to hear what he thinks about options. Maybe I'll learn something. :)

LOL, Trollboy...what are you doing here...Cramer is on. :tiphat:

So much for being adults...

Look...it's turned into the bash Steve thread. We'll all agree to disagree now. As already stated, I started another thread for investors. No worries. Have fun, c ya. Good luck to all.