I THINK THE MARKETS HAVE BOTTOMED!!!

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[quote author="usctrojanman29" date=1235097767][quote author="BlackVault CM" date=1235096102]My hand is itching to sell some calls...I just want a 200-300 pt pop before I do so.</blockquote>
Sell some BAC Feb 5 calls...easy money and you'd have plenty of time to buy into the stock just in case there was a huge run-up.</blockquote>


Yeah but I don't want to buy the stock stock in order to do so. You mean naked? haha...I don't have balls for that.
 
[quote author="BlackVault CM" date=1235098718][quote author="usctrojanman29" date=1235097767][quote author="BlackVault CM" date=1235096102]My hand is itching to sell some calls...I just want a 200-300 pt pop before I do so.</blockquote>
Sell some BAC Feb 5 calls...easy money and you'd have plenty of time to buy into the stock just in case there was a huge run-up.</blockquote>


Yeah but I don't want to buy the stock stock in order to do so. You mean naked? haha...I don't have balls for that.</blockquote>
Yeah, you do don't short change yourself like that plus you dont have to sell many of them and it's a probability play anyhow. I did it twice...sold Feb 9 Calls back a few weeks @$.24 and sold Feb 6 Calls @$.12 yesterday.
 
All new lows for the big Banks.

WFC, C, BAC.



I see a huge leg down overall.



The shorts are going to just eat WFC alive. Huge PUT volumes.
 
[quote author="bltserv" date=1235099640]All new lows for the big Banks.

WFC, C, BAC.



I see a huge leg down overall.



The shorts are going to just eat WFC alive. Huge PUT volumes.</blockquote>
I noticed that as well. WFC is the next big bank to head into the single digits all thanks to their little Wachovia acquisition (following in the footsteps of BofA with their Countrywide acquisition). But don't worry, Jamie DEMON and his little bank will have their day in the single digits this year all thanks to their WaMu pick up.
 
[quote author="morekaos" date=1234911197]We shall see...we shall see.</blockquote>


Hmm-m-m, are you auditioning for a job on CNBC?
 
[quote author="awgee" date=1235101452][quote author="morekaos" date=1234911197]We shall see...we shall see.</blockquote>


Hmm-m-m, are you auditioning for a job on CNBC?</blockquote>


I deseved that.
 
[quote author="morekaos" date=1235103315][quote author="awgee" date=1235101452][quote author="morekaos" date=1234911197]We shall see...we shall see.</blockquote>


Hmm-m-m, are you auditioning for a job on CNBC?</blockquote>


I deseved that.</blockquote>


Thank you so much for having a sense of humor. I tried to put a smiley with tongue sticking out, but the website was bogged. I am so glad you got the mirth.
 
[quote author="awgee" date=1235103762][quote author="morekaos" date=1235103315][quote author="awgee" date=1235101452][quote author="morekaos" date=1234911197]We shall see...we shall see.</blockquote>


Hmm-m-m, are you auditioning for a job on CNBC?</blockquote>


I deseved that.</blockquote>


Thank you so much for having a sense of humor. I tried to put a smiley with tongue sticking out, but the website was bogged. I am so glad you got the mirth.</blockquote>


You have to laugh or you would just cry. I still cling to the S and P. It still may hold
 
[quote author="morekaos" date=1235104661][quote author="awgee" date=1235103762][quote author="morekaos" date=1235103315][quote author="awgee" date=1235101452][quote author="morekaos" date=1234911197]We shall see...we shall see.</blockquote>


Hmm-m-m, are you auditioning for a job on CNBC?</blockquote>


I deseved that.</blockquote>


Thank you so much for having a sense of humor. I tried to put a smiley with tongue sticking out, but the website was bogged. I am so glad you got the mirth.</blockquote>


You have to laugh or you would just cry. I still cling to the S and P. It still may hold</blockquote>
Do not go down with the ship MK. Citi or BofA will be nationalized before the end of the year and when that happens it's time to step in for the bear market rally until then, tread lightly.
 
[quote author="morekaos" date=1228437418]Not a trading call. I think the 7450 low will hold as a low.</blockquote>


The rule is a close under right?



If so, tomorrow will be the day this thread is waiting 4..... will it hold?
 
Dow under 7500. S&P on the verge of 775. All hell could break loose tomorrow, or we have a huge rally. The chart lady was on CNBC today saying all the technicals show further downside. When that will be? She wouldn't say. But, we all know the chart lady has been right, and right again. I'm a bit nervous about tomorrow.
 
[quote author="graphrix" date=1235111944]Dow under 7500. S&P on the verge of 775. All hell could break loose tomorrow, or we have a huge rally. The chart lady was on CNBC today saying all the technicals show further downside. When that will be? She wouldn't say. But, we all know the chart lady has been right, and right again. I'm a bit nervous about tomorrow.</blockquote>


Oh come on Graph...don't be nervous. She is right...whoever that is. 7500 is a critical level, and has been for over a decade. So many historical supports have been created around that level. Give it a little push and this can tumble to 6-6.5K in a flash.



I'm looking forward to it personally. I have 25% or so allocated in equities, but wouldn't mind a dip to 6K so I can allocate the rest... Worse case scenario? My equities go down which are offset by puts, and I get a free buyin at the low end. YEEHAW!!
 
[quote author="upperlowerclass" date=1235110421][quote author="morekaos" date=1228437418]Not a trading call. I think the 7450 low will hold as a low.</blockquote>


The rule is a close under right?



If so, tomorrow will be the day this thread is waiting 4..... will it hold?</blockquote>


He can't use 7450. He already lost ;) He said intraday doesn't count. DOW never closed below 7552, but had an intraday low twice below that. 7464 and 7392!
 
[quote author="awgee" date=1235116475]Eventual lows for the Dow will be 4600 + or - 700.</blockquote>


I agree, I think we stop at 6-6.5K though and have a pop. But we do head lower...2-3K wouldn't shock me.
 
[quote author="BlackVault CM" date=1235117156][quote author="awgee" date=1235116475]Eventual lows for the Dow will be 4600 + or - 700.</blockquote>


I agree, I think we stop at 6-6.5K though and have a pop. I think DOW goes to 2-3K personally ;)</blockquote>


BV

If it goes that low for Equities just think about other asset classes.

Real Estate could be in even worse trouble. Just think if it tumbles

70% off its highs.



Personally I think we will get down to about 5000 Dow. 500 S&P. Then a long slow

return back up to 9000 over a few years. The issue is predicting that bottom and its timing.



I think tomorrow will be another small loss. But all its going to take is some

unforseen event or statistic to spook the market and we could lose 700 points in a day.

Thats a 10% loss now that we are in the 7000 range.
 
[quote author="bltserv" date=1235117898][quote author="BlackVault CM" date=1235117156][quote author="awgee" date=1235116475]Eventual lows for the Dow will be 4600 + or - 700.</blockquote>


I agree, I think we stop at 6-6.5K though and have a pop. I think DOW goes to 2-3K personally ;)</blockquote>


BV

If it goes that low for Equities just think about other asset classes.

Real Estate could be in even worse trouble. Just think if it tumbles

70% off its highs.



Personally I think we will get down to about 5000 Dow. 500 S&P. Then a long slow

return back up to 9000 over a few years. The issue is predicting that bottom and its timing.



I think tomorrow will be another small loss. But all its going to take is some

unforseen event or statistic to spook the market and we could lose 700 points in a day.

Thats a 10% loss now that we are in the 7000 range.</blockquote>
BofA and/or Citi getting nationalized would do it.
 
I'm interested to see if the DJIA circuit breaker goes off tomorrow to see if Roubini gets another prediction fulfilled.



<a href="http://www.nyse.com/press/circuit_breakers.html">http://www.nyse.com/press/circuit_breakers.html</a>
 
I didn't have time to post before I headed off to work yesterday....but I have to tell you. The first thing I did when I woke up around 3:00 in the afternoon, was click on the TV to see what the market closed at.



I simply HAD to see if Morekaos lost his bet with BV ! (No kidding, it was my first lucid thought after I woke up.....) sad, but true. :P



I lurk on this thread and *wish* I could figure out what the heck you guys are saying.
 
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