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Post by brosin on Nov 9, 2010 19:22:53 GMT -5
averaging down = prison gobble I'm not sure if I could disagree with something more than I do this statement. ;D
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Post by Rich on Nov 9, 2010 19:31:03 GMT -5
I don't know bros, I hate to get stuck in a position waiting for a reverse. That money is basically dead until you let go of the trade.
I would rather take my punishment quick and get it over with.
I like the idea of entering a position and if it goes your way add another half. If it keeps going your way, add another half.
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Post by kbk3ck on Nov 9, 2010 19:37:16 GMT -5
Another Red Letter Day for the Bailys. Lost my ass!! Got stopped out on my TYH today at $44.59 Coulda sold at $45.59 but noooo!! Still a profit from buying it Friday at $43,88, but.... Grrrr!! Then I got all smart. I got 30 Calls, Nov. 46 strike for 75cents. Last I saw, Bid was 50Cents.!!!! What a Stooopid dumbass!!!! But.... I guess it will be OK. Life goes on. Wheres my Clarence?
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Post by brosin on Nov 9, 2010 19:38:51 GMT -5
I don't know bros, I hate to get stuck in a position waiting for a reverse. That money is basically dead until you let go of the trade. I would rather take my punishment quick and get it over with. I like the idea of entering a position and if it goes your way add another half. If it keeps going your way, add another half. That's exactly the key for me - if I put too much into one position way too early, then yeah you're trapped and the money is dead and you're stuck waiting. If I balance my positions slowly and add to them as it gets cheaper, all I have to wait is for all the buys to go green, and you've made X times as much as you would've had you only had one entry (X = however many entries you had). Averaging up on a position is something I will rarely if ever do unless I have very strong conviction with it (RIMM was one of those). Because even if your first -- or even your second -- buy is correct, the 3rd higher entry might end up being wrong, and the stock will then tank below all your buys - voila you've lost 3x as much. Options are the worst - I typically have to go *at least* 5 entries on them. But if you look at my trackers, I have sold positions for green *way* more than I have sold for losses. And I can say with 100% certainty that a majority of those that I sold for green went (in some cases WAY) red before later turning for me.
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Post by popistoc on Nov 9, 2010 19:45:12 GMT -5
Sold 50 FAS for 70 bucks loss, still holding 100 sh.
Bought 5 22 weekly FAS calls at 2.81, WTF...
popistoc
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Post by kbk3ck on Nov 9, 2010 19:49:11 GMT -5
Pop, your a dumbass after my own heart. LOL. Man I hope it turns our way!!!!!!!! Im a bag holder on TYH calls.
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Post by popistoc on Nov 9, 2010 19:53:11 GMT -5
Pop, your a dumbass after my own heart. LOL. Man I hope it turns our way!!!!!!!! Im a bag holder on TYH calls. KBK, Hope for CSCO pop tmrw! GL to both of us, we need it! popistoc
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Post by kbk3ck on Nov 9, 2010 19:56:10 GMT -5
YES we do Brotherman!!!! Im gona drink a few Budweisere to Us!!! Heres to Ballsy Sumbitches!!!
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Post by jack on Nov 9, 2010 20:26:07 GMT -5
Picked up another 1K shrs CNL ("There'a gold in them thar Colombian hills - just don't get kidnapped by the GD guerrilas!") on the Toronto Exchange...
: )
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Post by popistoc on Nov 9, 2010 20:37:10 GMT -5
YES we do Brotherman!!!! Im gona drink a few Budweisere to Us!!! Heres to Ballsy Sumbitches!!! I am drinking vodka/coronas. popistoc
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Post by kbk3ck on Nov 9, 2010 21:30:36 GMT -5
Jack< what the heck is CNL? No e-mails? Buddy? Hey, a lil help fer yer lil Bro?!?!!?
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jn1520
Broker/Dealer
Posts: 719
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Post by jn1520 on Nov 10, 2010 8:02:10 GMT -5
Held all positions and made no trades. In the red on my most recent moves with SOHU, AVNR, SOMX. Thankfully, I'm up with ASTM to soften the blow. Plan on riding these out for a while, but will not take much more of a loss. Survival is key and there's ALWAYS ANOTHER TRADE.
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Post by demanuel2001 on Nov 10, 2010 8:07:59 GMT -5
Continued to play LVS from the short side - made money there - lost money everywhere else. Down about $10k - trading was interrupted when my mother-in-law fell over and broke her hip.
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Post by sloop on Nov 10, 2010 8:12:38 GMT -5
Sorry to hear that Deman......I hope shes OK. A broken hip in the elderly can be very dangerous.
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Post by demanuel2001 on Nov 10, 2010 8:19:19 GMT -5
Yes - tell me about it - not a good situation.
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Post by brosin on Nov 10, 2010 10:59:52 GMT -5
Not good! Best wishes on a speedy recovery for her DE
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Post by demanuel2001 on Nov 10, 2010 11:08:48 GMT -5
Thx for your wishes - my wife and I are trying to make the best of a bad situation. One of the reasons for the Queen Mary 2 trip was we figured it would probably be my mother-in-law's last chance to visit her home and friends and relatives - and she absolutely loved it.
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Post by kbk3ck on Nov 10, 2010 13:52:17 GMT -5
That was really good of U to do that for her Deman. Your a good man.
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Post by demanuel2001 on Nov 10, 2010 13:56:51 GMT -5
That was really good of U to do that for her Deman. Your a good man. Well - I have to confess that I enjoyed the trip too.
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Post by kbk3ck on Nov 10, 2010 13:58:49 GMT -5
Nuthen wrong with that. She probably wouldnt have enjoyed it otherwise. Exalt to ya. That gives u 58.
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