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Stock traders thread (pg. 9)
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| Skipper |
Holy market slide.
I just put some dough in my itrade account and am wondering, is this a guying opportunity or should I just stay on the sidelines? Right now my "play account" (ie the small account I trade in, the rest is all mutual funds) is uber heavy on golds and I'm kind of thinking I should keep with that theme. |
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| Nrg2Nfinit |
| quote: | Originally posted by Skipper
Holy market slide.
I just put some dough in my itrade account and am wondering, is this a guying opportunity or should I just stay on the sidelines? Right now my "play account" (ie the small account I trade in, the rest is all mutual funds) is uber heavy on golds and I'm kind of thinking I should keep with that theme. |
I'm itching to play my next positions. so far i'm down 30 or so % on my oil etfs. (a 17 dollar drop in oil price, 21 or more if you take contango into consideration) didn't help.
i have 2 more positions before i stop out at loss. Personally i would wait on the sidelines until some sort of bottom forms in the market in general. Check the asian markets as they are good indicators of whats to come. The past couple of market days people could have made big watching the hang seng performance then buying inverse index funds come our market open. If the hang seng tanks tomorrow, i think i will do this, capitalize on our falling markets. |
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| Skipper |
Personally that's not really my style of investing, I am mostly familiar with equities and would prefer to stick with them for now. Buying inverse/market shorts on the basis of overnight performance in asia is just not something I feel comfortable with...plus they are not always as correlated as you suggest.
The rules/regulations/approvals I need to do quick trading is also a pain in the ass, but it forces me to think through things at least! |
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| Nrg2Nfinit |
| quote: | Originally posted by Skipper
Personally that's not really my style of investing, I am mostly familiar with equities and would prefer to stick with them for now. Buying inverse/market shorts on the basis of overnight performance in asia is just not something I feel comfortable with...plus they are not always as correlated as you suggest.
The rules/regulations/approvals I need to do quick trading is also a pain in the ass, but it forces me to think through things at least! |
ah thats right, the rules and regulations working with brokerages and in the industry. I would simply wait of a steady bottom before getting into anything. There are alot of good valuation plays out there now though.
keep an eye on the coal companies, They've been running wild for a while and have started to make real corrections.
WTN and GCE, two great valuation plays. |
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| Skipper |
| Pretty incredible to see the TSX hit 12,000 when there is still so much uncertainty out there. Incredible and...alarming. |
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| Nrg2Nfinit |
| quote: | Originally posted by LiveTime
COS-UN.TO is something i've had great faith in. However, i haven't seen much of that faith come to fruition lately. Their +$.15 to $.50 dividend is coming up at the end of the month. So hopefully we'll see a swing in the price by then from people buying for that raised dividend. However, the price of oil has really affected it's upward movement.
What are other people's thoughts? |
wait til the price of oil hits some sort of bottom (which i hope is very very soon) then play your position.
Keep an eye on eia's wednesdays storage report for crude, If its a draw, this is a good time to go into some oil co's. The valuation looks decent for that company. |
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| rabbitjoker |
| quote: | Originally posted by rabbitjoker
13-05-10: Long on GCE @ $6.10. |
I forgot to put in my stop-loss on this. I am crying. |
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| Nrg2Nfinit |
| quote: | Originally posted by rabbitjoker
I forgot to put in my stop-loss on this. I am crying. |
ahh its alright i wouldnt worry. Its a valuation play, relatively speaking its still severly undervalued. You already made back half your loss on open today, nothing to worry about, you should see the hole i am in lol. |
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| Nrg2Nfinit |
eep.. looks like i spoke too soon :s
still a firm believer that valuation is strong. target price should be 8 or 9 dollars for fair valuation. |
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| DigiNut |
| quote: | Originally posted by Skipper
Pretty incredible to see the TSX hit 12,000 when there is still so much uncertainty out there. Incredible and...alarming. |
My word would have been "bull."
So many aspects of both the Canadian and U.S. economies are still improving, but oh boo hoo, the Euro is sinking, as if anybody expected it to skyrocket.
It's relieving that I at least scaled in slowly and didn't load up on the very first pullback, but I am not happy. |
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| Skipper |
Your sarcasm is so thick these days I can hardly understand wtf you're getting at most of the time.
What exactly is bull? the economic recovery going on? It's definitely happening, but the next bubble is in government debt and there a'int no bailout for that. |
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| LiveTime |
| quote: | Originally posted by Nrg2Nfinit
wait til the price of oil hits some sort of bottom (which i hope is very very soon) then play your position.
Keep an eye on eia's wednesdays storage report for crude, If its a draw, this is a good time to go into some oil co's. The valuation looks decent for that company. |
normally i'd say that's a good indicator of the direction of oil, but as of late it seems as though europe is the main driver of prices and things are only getting worse there. i'm expecting oil to be sent down to 65 down that it has broken 70, which used to be the bottom and now would be considered the top. |
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