Epic Fail Stock Market

[Dave]

Not sure if anything is worth buying atm - ideas? Last one I figured I'd try and Toyota, but they went straight down becasue I'm fail.

NTDOY - Nintendo, they're at a low after a poor showing at E3 or something.

..

think i need to do more research or just pick a index fund again.

[Jason]

I bought Bank of America and Citigroup yesterday. I think they're near the bottom of what they're worth.

... could be wrong though.

[Dave]

Hehe i bought BAC and C back when they had the free stock trades, so my 5k investment in them is now worth like 2k, and I don't see a reason to sell them anytime soon.

Another funny fact: Harris is now part of the S&P 500 replacing Lehman Brothers

[Jason]

I also bought ford and gm today.

[skanks]

I bought up some options on the QQQQ. I'm looking for some bigs gains to make up for lost time. I actually was doing quite well and then McCain scuttled the Thursday's bailout deal. WTF was up with that man? That old fuck should find something else to bullshit about, not dick with the markets just because he wants to show "Leadership" on the economy.

[Dave]

Well I bought NTDOY last week and its up 5% !

I have a never ending limit sell @ +25% on it just because.... want to see how it this works out compared to owning a stock like google go up 100% and back down to 0% and just sitting on it.

[Peijen]

oh yeah, another 500 points. Anyone jump out of windows yet?

[quantus]

Dow 10,365.45 -777.68 (-6.98%)

Wow, nearly 800 points. I guess those QQQQ calls are worthless

Would've been a great day to own something like this:
http://finance.google.com/finance?q=AMEX:SKF

[George]

I bought Apple at 125 Friday morning, thinking that after Thursday's fall, it would rebound. And it did. It was up to 128 at close Friday. And today, well...

[skanks]

The QQQQ calls had about 15% of purchased value this morning. Now it might be as high as 40%, but without a bailout I'm still down a grand.

[quantus]

What would the puts be worth? Would a straddle strategy be working better in this volatile market? You could always sell each and pick up the other when the market swings one way or the other... Like, yesterday might've been a good chance to buy more calls and today would be the day to buy puts.

[skanks]

If I had gotten puts I'd be rich as fuck by now. How rich? Depends on which puts. All options have a different strike price and expiration date.

But at least I can say this for my investment in call options: I can only lose so much and I've already lost it. If I was holding stocks I'd still be bleeding every single day.

[quantus]

Well, I'd buy calls today and sell tomorrow after the very likely bounce of a couple hundred points.

[skanks]

Ha. It's a good thing you didn't but those calls.

[quantus]

Yep, I've instead started looking at the ultrashort proshares... like DUG, SDS or QID Once the market starts to rise again, short them like mad or if that's not allowed, buy they're non-short counterparts like DIG. Heh, DIG -vs- DUG