What a lucky mofo:
Looks like Obama’s mortgage refinance plan is finally in effect, as of yesterday:
The article said that call volume spiked 150 percent yesterday. Not sure if I want to deal with that crap or not. I’m definitely gonna refinance though…why not?
If you have an iPhone, then I’m sure you’ve already heard that Amazon just released a Kindle app to read their e-books via the app:
http://www.crunchgear.com/2009/03/04/kindle-for-iphone-walkthrough/
The iPhone is the shit. It’s amazing how far Apple has come in such a short time. I think Amazon is silly too. I pretty much do all of my online shopping there. I think that I may have to buy some shares of each soon.
Check out this article about MySpace:
http://www.techcrunch.com/2009/03/04/smart-execs-leave-before-the-fall/
MySpace is definitely going down hill. I don’t even know anyone who uses it anymore. They had everybody, then they lost em…to facebook.
My totals for AC:
- NL Hold’em: -$1,058
- Tourney: -$120
- Craps: -$89
So, this market is tanking today and I am loving it. Absolutely loving it because I am not long. However, after extensive thought, I am going to go all-in on the long side very soon here. Yes, I am in the process of making a list of stocks to buy. I will most likely stick with the ones that I follow on a daily basis. I’m gonna stay away from the banks, as suggested by The Fly. I may get some lumber and NG per offtheglasstrading. I may even get some currencies…I’m not quite sure yet. The plan is to diversify on the long side, but invest at least 75% of my cash, maybe more. Since I am usually wrong on my entries, I think it may be best to just start scaling in today or maybe early next week.
I got a few emails from my trading friend over the past two days:
“Looks like SP found some grounds around 690/700. Let’s see if it hold. If it does, a good entry for 3/4 week timeframe.”
And today:
“Hi Mike. I still want to see SP can hold 683, 1996 Nov low. I think it has another 5% downside and then the bear market rally in place. May start to move money back to oil. It seems to be stable around $40. “
Looks like he likes oil, so UCO and DIG both come to mind. Those two will most likely be on my BUY list. I’m also thinking UYM. Probably some QQQQ and SPY, or better yet, QLD and SSO, the double long ETFs. I’ll also get some more DVY, which I already own 150 shares of. The Fly is long TNA, JRJC, ISRG, and CY…I think that I will pick 2 of those and get some of that. Now I just need to figure out how much to buy of each. I think that I still have a few days, maybe a week or two, which really means that I probably have a few hours or a more than a few weeks (cause I’m usually wrong on the timing). Although, I will say that I probably would’ve been long already, if it weren’t for my buddy telling me that he was going short, so maybe we’re closer to the “bear market rally” than I expect.
Goddam, I still don’t have my E*Trade account open yet. What an F’in show. I’m so bitter at their hurt-ing customer support. It’s hit or miss with them. Sometimes, I will get an great rep, who knows what they’re doing, but then they’ll pass it off to another group, and I’ll get some idiot customer rep who has no clue. Regardless of who I get, there is rarely any synergy between the various groups in E*Trade. It’s always like, okay, i’ll to send it to this group…and then my application gets put into a black hole. What a joke. If I didn’t need them, I would’ve taken my business elsewhere already.
Alright, carnage in the markets today. I hope that there will be more carnage in the next few days, so that I can get long. I will be patient and wait. Wait for the most opportune time, so that I can take out my ginsu knife and say D-A-G-G-E-R to the bears…D-A-G-G-E-R…
Hey boogster, one last question about IB. What did you choose between bundled v.s. unbundled commissions? It seems unbundled is cheaper to day-trade ES?
↓ Quote | Posted March 5, 2009, 10:09 pmAlso 3.62 for ES is options only. It looks like futures ES is $4.7 unbundled and 4.8 bundled.
↓ Quote | Posted March 5, 2009, 10:24 pmI just went with the $2.12 option, which is unbundled, I think. I looked at it a while back, but I can’t remember what the exact difference was. Just go with the cheaper option.
↓ Quote | Posted March 6, 2009, 10:54 am