Stock Market Talk

Originally Posted by obmd1

orchestrated

Fixed

Has anyone placed your bet for the day? Up, or down?

Tough decision... hmm... probably test 1120 again?

Holy crap, Disney (DIS) got punished

Originally Posted by Griffoun

Has anyone placed your bet for the day? Up, or down?

Tough decision... hmm... probably test 1120 again?

Holy crap, Disney (DIS) got punished

I think the move to make is going long at 1120.

But not sure I have the balls to do it.

Originally Posted by Chris90

I think the move to make is going long at 1120.

But not sure I have the balls to do it.

Don't try to catch a falling knife.

Originally Posted by Kamdog

Don't try to catch a falling knife.

We're not trying to catch it, just guessing where the floor is

Originally Posted by Griffoun

Of course my LNKD put got executed as well

LNKD refuses to give in

Sell it, people! You can do better than that!

Originally Posted by Just Bryce

Fixed

it's a controlled demolition of wealth of the retail investor and lower-rich class and middle-class.

Originally Posted by Kamdog

Don't try to catch a falling knife.

Yeah, I'm more comfortable going short in this market.

Still, such strong support at 1120-1130 I think it'll hold for now.

Originally Posted by Chris90

Wow, you ain't kidding! 300 pts down already.

This is like flippin coins these days. Hard to call now. I'm out of this one. Best and safest is to buy Gold and Silver on dips. Can't go wrong with those 2.

Originally Posted by Griffoun

It's common to crash like yesteday or reversal to the downside... but I don't recall anything that would make me feeling a bit of relief in those days

Told ya, eh? Any magic in the last 15 mins?

1050 tomorrow. Glad I didn't go long today.

another day of wealth demolition

I believe we should blame all these volatility on the High Frequency Traders

Originally Posted by HW

another day of wealth demolition

This hurts the rich more than the poor, you should be celebrating. Helicopter Ben will come out to try to save the rich, my guess.

Originally Posted by TimeOut

I believe we should blame all these volatility on the High Frequency Traders

Back in the day they wanted to blame the investor for the mortgage debacle, but in the end it was the system set up encouraging the behavior, the industry itself was to blame.

Thanks Tea Party Downgrade.

Originally Posted by Chris90

This hurts the rich more than the poor, you should be celebrating. Helicopter Ben will come out to try to save the rich, my guess.

some of the very wealthy has the sort of money to rip the market down with high speed trading computers and algorithms and cache of cash to orchestrate it. then slowly buy into it again and tear it down repeatedly. wash, rinse, repeat.

Got out from LNKD put at the last minute; took a 15% loss. I'm guessing that sucker doesn't have enough float for people to short yet... so it defied gravity today. Better than total loss.

CSCO up 2% after the market close with some good news in this bad market... hope it will bounce back.

Silver and Gold are best to buy on dips. You will be rewarded when you buy on all the big dips.

http://www.google.com/finance?q=NYSE:SLV

Originally Posted by Chris90

1050 tomorrow. Glad I didn't go long today.

Yeah, you are lucky

Originally Posted by Griffoun

Got out from LNKD put at the last minute; took a 15% loss. I'm guessing that sucker doesn't have enough float for people to short yet... so it defied gravity today. Better than total loss.

CSCO up 2% after the market close with some good news in this bad market... hope it will bounce back.

there needs to be float? no naked shorting is happening? no one seems to get caught and charged for it. but it's happening

Originally Posted by HW

there needs to be float? no naked shorting is happening? no one seems to get caught and charged for it. but it's happening

I don't buy that - naked short selling doesn't really work unless a LOT of people are doing it, enough to move the price.

Originally Posted by Chris90

I don't buy that - naked short selling doesn't really work unless a LOT of people are doing it, enough to move the price.

according to wiki, naked short is pretty rampant.

Originally Posted by HW

according to wiki, naked short is pretty rampant.

Even if that's true, my point was rather it doesn't work unless it's a large % of the float, like it was back in 2008. Shorts were getting owned until recently.

Sold 1/3 of my inverse ETFs yesterday. I was going to sell another 1/3 today except a few minutes before the close I saw the Dow break the support line at 10726. My hand was hovering above the mouse - really - but I didn't click it. If this was a dumb move or a smart move we'll see tomorrow.

This latest train wreck is about French banks so I don't know WTF the US congress is supposed to do about it.

http://www.nytimes.com/2011/08/11/bu...nch-banks.html

Originally Posted by Chris90

I don't buy that - naked short selling doesn't really work unless a LOT of people are doing it, enough to move the price.

I really don't understand naked shorts.

If you are naked, you don't have any shorts on.
If you have shorts on, you ain't naked.

I don't understand.

Now, long, that I understand.......