Louetta's Lore

[Louetta]

What are you looking to gain from your 24 hour plays? What do you look for in a stock when you make these types of trades (what thing or combination of things make it appreciate in 1 day)?

What do you look for in the mid-term stocks? Do you use stops for these types of stocks?

I ask because I like to know how other people approach investing in stocks. It helps me to evaluate my own approach.

Right now I'm looking for maybe 1-2% on the overnights. A few years ago, when the bull market first started (about when the Iraq war started) I could get more because there was a bullish bias. You need an imbalance of buy orders over sell orders at the open. Since everyone gets the same price on the open this can provide a profit. Tried IAAC and CTCM maybe two weks ago as I noted here but it didn't work.

I don't set stops on the mid-terms. I keep track of how many disappointing days they have, balanced off by good days, if any, and sell if it looks like the money is going nowhere (or down).

[Louetta]

Got orders in for about 2/3rds of a position in RWC, AIRM and TGIS and 50% more of PWEI. Might not get all of them and might chicken out all together if the market opens weak Monday. All of these are more stocks I stole from Poormans.

Chickened. Cancelled the orders.

Did leave one lowball in there for some January calls on HSOA at $10 a share. Unless these guys are flat out liars it seems that has to move higher in the next five months. The calls are about $.45. I bid .35 since the futures are so weak. Seems like a decent risk/reward.

[peanuts]

Chickened. Cancelled the orders.

Did leave one lowball in there for some January calls on HSOA at $10 a share. Unless these guys are flat out liars it seems that has to move higher in the next five months. The calls are about $.45. I bid .35 since the futures are so weak. Seems like a decent risk/reward.

I think that if you hold on to TGIS for a mid-term time period (1-9 months), it will pick up some steam and price. If the economy really slows down, businesses will have to find ways to become more efficient, and may turn to investing in products and service like that which TGIS has to offer. Just a thought...

I've been patiently waiting for it to take a dump where I can initiate a position. It is part of my MOMO watchlist.

[IIC]

Chickened. Cancelled the orders.

Did leave one lowball in there for some January calls on HSOA at $10 a share. Unless these guys are flat out liars it seems that has to move higher in the next five months. The calls are about $.45. I bid .35 since the futures are so weak. Seems like a decent risk/reward.

It is a pretty good bet that they are "flat out liars" in my opinion...Doug(IIC)

[Louetta]

It is a pretty good bet that they are "flat out liars" in my opinion...Doug(IIC)

Gosh!!!! (Actually I only wanted one ! but the system said my message was too short with just 1.)

[peanuts]

Gosh!!!! (Actually I only wanted one ! but the system said my message was too short with just 1.)

Welcome.......... tooooooo, the Machine

Pink Floyd is great!

[Louetta]

I chickened and went back down to 25-30% long late today.

[IIC]

I chickened and went back down to 25-30% long late today.

Good Move...There are so many things that make this current market too risky that it would take me all night to type them all out...Unfortunately, I'm a slow typist...But too much risk long for now...I know I went against what I said the other day and held ARD over last night...Worked out nicely(see my thread)...But it is Super Dangerous out there IMO....Good time for a vacation...Speaking of which...I'm going to MIA on 9/2 and then a 7 day cruise to Honduras etc. on 9/3...14 of us going...This will be our 17th cruise...But I'll still check in periodically....Be careful...Best, Doug(IIC)

"I'm not as FUN as I once was...But Once I'm as FUN as I ever was"

[Websman]

I agree with Doug. The market is too dangerous at this point for anything but day trading.

[Jim Smith]

Look to go long at OEX 593

I beleive we'll see a move to OEX 607 early September....that would put it at the top of the channel.....Then, go short again.....and that short at 607 should payoff in spades.....Casino stocks should continue to get hammered...I particularly like PENN and HET short....Some techs look like long plays here: WFR, NUHC, even AMD....

[IIC]

Louetta...Got a Q???...You have said in the past that you are looking forward to a move up circa October...Due to seasonality...At least I think you did?...Any other reason; e.g. technicals...That you think that might happen???

Best, Doug(IIC)

[Louetta]

Louetta...Got a Q???...You have said in the past that you are looking forward to a move up circa October...Due to seasonality...At least I think you did?...Any other reason; e.g. technicals...That you think that might happen???

Best, Doug(IIC)

Seasonality but some economic fators. From what I've seen at work, sell in May and go away in fact happens and people return after Labor Day and things tank til the very end of September and then people start buying in the Fall. Interest rates have cooled, fuel prices lag as the driving season ends and before the heating season starts and we may see not a recession developing but a Goldilocks effect. Any way the plan is to start putting some money to work in covered calls about 9/30 using the October expiration and then repeat as the season advances if things go well. If this fails to work out you at least have a couple of a percent built in protection fom selling the calls. If things move up you can roll up the calls and or reinvest in others but at least you've got some money invested without a whole lot of risk. If things start off well I'll start buying some Poormans stuff in October and figure the gains from the covered calls will give me a little cushion if the market weakens and the Poormans stuff goes South. Later in the year, Nov-Dec there's usually some sector trends you can play and try to pick up a few bucks and you keep playing the calls and add more Poormans stuff if things continue OK. The idea is to start sneaking money in there and if things go well add more then a little more.

[IIC]

Seasonality but some economic fators. From what I've seen at work, sell in May and go away in fact happens and people return after Labor Day and things tank til the very end of September and then people start buying in the Fall. Interest rates have cooled, fuel prices lag as the driving season ends and before the heating season starts and we may see not a recession developing but a Goldilocks effect. Any way the plan is to start putting some money to work in covered calls about 9/30 using the October expiration and then repeat as the season advances if things go well. If this fails to work out you at least have a couple of a percent built in protection fom selling the calls. If things move up you can roll up the calls and or reinvest in others but at least you've got some money invested without a whole lot of risk. If things start off well I'll start buying some Poormans stuff in October and figure the gains from the covered calls will give me a little cushion if the market weakens and the Poormans stuff goes South. Later in the year, Nov-Dec there's usually some sector trends you can play and try to pick up a few bucks and you keep playing the calls and add more Poormans stuff if things continue OK. The idea is to start sneaking money in there and if things go well add more then a little more.

Good answer...However...I usually think I've got it pegged intermediate term...This year I am not so confident that I do...Hedging may be the way to go...However...I prefer to put it all on the line when I think I'm right...But I can't seem to identify the line right now...So I will only be in/out...although, I can always change my mind...Best, Doug(IIC)

[Louetta]

Good answer...However...I usually think I've got it pegged intermediate term...This year I am not so confident that I do...Hedging may be the way to go...However...I prefer to put it all on the line when I think I'm right...But I can't seem to identify the line right now...So I will only be in/out...although, I can always change my mind...Best, Doug(IIC)

When you mention hedging is that a reference to my covered call stuff or are you thinking of something else?

[IIC]

When you mention hedging is that a reference to my covered call stuff or are you thinking of something else?

Yeah...maybe I'm not using the term correctly but that's what I meant. But now that I think about it it really doesn't reduce risk all that much. http://trimurl.com/70A