If I had to buy 5 stocks tomorrow, based on the list, the following would be my top picks:
4. Bucyrus International, Inc. [[BUCY]]
5. National-Oilwell Varco, Inc. [[NOV]]
10. Freeport-McMoRan Copper & Gold Inc. [[FCX]]
24. Google Inc. [[GOOG]]
31. Apple Inc. [[AAPL]]
Disclaimer: I own AAPL, GOOG, FCX
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love NOV, love FCX, love AAPL.
in fact, i love NOV so much that i’d like to impregnate it and stick around afterward.
Wow Aris that’s some real loving.
Make sure you ask her brother, RIG, first.
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i’m a real catch, boca.
good idea, jake. RIG isn’t someone you want to cross.
RC: are you still long on solars (JASO, WFR)? If the energy credits bill gets shut down by senate, solars will get bootstomped no?
RC,
how do you suggest we play the QQQQ strangle from friday? close off one side? let it ride? end it? thanks for the help
I was wondering what you and RC are going to do too, Gunners.
Wow, Art Cashin looked scared, I saw real fear in his eyes.
Regarding the QQQQ strangle, I will keep my on, because I have no idea which way we are heading.
In other news, I rode my first stock to the ground. (jumping out the window now)
Agree about Art Cashun. I saw that too.
Agree about Art Cashun. I saw that too.
Don’t jump RC, you won’t be first to have a loss this year. Start breaking out the Irish coffee instead.
It’s a giant rollercoaster. Sold my AAPL premarket, but I did buy 2 stocks today (yes, I’m ashamed of trying to pick the bottom, I’m sometimes a gambler, ack.)
Gunners & Boca, just sold my puts @ 0.40, now my calls are paid for. Any upside in the calls are now pure profit.
however, it looks like I should have held on as we just broke 10,800.
I did the opposite a little while ago. I sold my calls at $.14. now i have a stop on the puts at $.33. this secures a little better than breakeven including commissions on the trade.
AAPL downgrades and RIMM debacle made me feel good on betting on the downside a little more. I’ll bump the stop up a cent every time i can.
I can’t understand the “lets buy the high multiple stocks” mentality. It is painfully obvious, to me, that most of you have never traded in a bear market. You are buying stocks that have the most room to fall. Why? This market is not a hard market to trade. Sell short all rallies. Danny has been saying it for weeks. GOOG, AAPL??? Wow.
I bought 40 puts instead of 41, I have a nice profit in the puts and my finger on the sell button, the market could turn anytime. Think I will just keep the calls. I made enough on my C calls on Friday to pay for this whole trade anyway, so it’s already all house money.
The Fox, I lost less than $100 on my AAPL trade because my cost basis was low (I had bought for the long term anyway, I just don’t like this market.)
Boca-
I am glad to hear that you emerged unscathed. Good for you. I just wonder why RC keeps pushing stocks that aren’t working. When do you stop with the “bull argument” and face reality. Nothing personal against anyone because Lord knows I make mistakes too. I just feel bad for the folks out there that listen to that advice. It seemed very flawed two months ago and even more so now.
oh my goodness, I’m kicking myself for not buying those AAPL puts this morning. An easy 10 points goes by the wayside…
I’ve set a trailing stop on the QQQQ puts, keeping the calls in case we get a bounce tomorrow. They’re kinda worthless as we speak and overall profits are already guaranteed anyway.
Fox, I believe RC has a very long time frame for his AAPL and GOOG investments, and even though there is a bear market, I do think for the very long term (say ten years on Google) they can be viewed as an investment. That is just my personal opinion though.
DPeezy, I sold my QQQQ 40 puts (over 200 percent profit) and am holding the calls, I still think the market will improve towards the end of the day.
ok… i closed out the strangle. was able to make 12% after commissions. i probably could have timed it better and made a little more, but goddamn, every winning trade in this market feels great. no matter how small
thanks for the idea RC/Dpeezy/Boca
Boca-
No doubt about it. I agree with your thesis on both GOOG and AAPL. I think RC’s blog is a difficult one to follow because on one hand he is discussing the 10 minute chart of XYZ stock and the other hand he discusses stock ABC as “an investment”. I remember him saying that the vast majority of the time his blog is aimed at trading, so that is why the “buy AAPL” discussion looked naive.
Having said all that, it just makes sense to me to wait until AAPL reports before buying. They are going to say, “Growth is slowing”. It is unavoidable. Most people I know aren’t even eating out much- nevermind buying a Mac or iPhone.
This is a bear market and it is going last quite a while longer.
“I have seen the future and there are lower stock prices in it…” this is so true. AAPL to 100 AMZN down, down, …
Do you know anyone that is planning a big Christmas?
Me neither.
somehow one of my posts never made it, requesting ideas for more option strangle trades, might be the only way to play the rollercoaster.
Boca,
UYG strangle:
$23 calls @ 0.95
$15 Puts @ 0.95
Thank you RC, appreciate it.
10,800 is the only thing holding up the DOW, watch that number.
Exactly what I was thinking earlier this morning, 10,800 has become the new resistance. Not that I’m positioned for it…
That’s a pretty wide strangle to play, don’t you think, RC? Yeah, it’s cheap, but the easier trade would be to go for a straddle at 18 or 19…
How about XLF instead? Or SKF, if you want to up your risk. Or some Chinese fuckery via FXI/FXP?
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Keep MU & MOS on the radar for later in the week. Both report earnings Wednesday after market close.
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Or just go long GLD?
It’s very wide, but my thinking behind it is a huge move one way or the other.
Also, if you look at a chart of UYG, it’s also where you see support and resistance.
Still new to the option game, any advice on strangles is appreciated DP.
Sold UYG put @ 2.00.
DP, Wide was not all that bad, although I went with the 20/16 myself.
Gunners, we missed pay day with the QQQQs.
i know… ah well. at least i made money. better safe than sorry