Who else is glued to the DOW?

[Broncojohnny]

lol.


I am very tempted to buy IR right now but something tells me to wait closer to $25...

I don't know. That stock is beaten beyond recognition because they missed earnings right before this all began. I bought it at $32 in the financial crisis and unloaded it for $45 not long ago. Same goes for Eaton, I bought at $71 and sold way too early at $80 (before the split). I'd buy IR now but I am waiting to see what happens with the rest of this week, I am not convinced this is over. IR and the other industrials are recession plays, if we go into a recession you are going to be sitting there suffering for a few quarters of bad earnings, if we aren't in a recession and 3Q earnings are good for them, it is going to fly back up with a quickness and you'll make 30%.

[347Mike]

I don't know. That stock is beaten beyond recognition because they missed earnings right before this all began. I bought it at $32 in the financial crisis and unloaded it for $45 not long ago. Same goes for Eaton, I bought at $71 and sold way too early at $80 (before the split). I'd buy IR now but I am waiting to see what happens with the rest of this week, I am not convinced this is over. IR and the other industrials are recession plays, if we go into a recession you are going to be sitting there suffering for a few quarters of bad earnings, if we aren't in a recession and 3Q earnings are good for them, it is going to fly back up with a quickness and you'll make 30%.

I think you summarized my thoughts up exactly. I am going to try getting to the bank later and throwing some more money into my Scottrade account.

[03mustangdude]

I hope so. Maybe I should cancel the GTC order at .11 but I dont want to get stingy. I picked up 1000 contracts yesterday at .06 if i could make $500 on $600 invested, i'm good for the month.

is that how you short a stock? i've only bought stocks still confused on shorting and forex.

[347Mike]

is that how you short a stock? i've only bought stocks still confused on shorting and forex.

This is covered in my thread about Stock market, should be on page two.

[KBScobravert]

Right. I just saw him walking around with some new inkjet cartridges. All is well. Government intervention will satisfy the crooks.

All is even better. We are unpacking the Sony 3D 55" flat screen in my office as I type. Before you ask, yes it is a GP item. Just us doing our part of increasing that 14t.

[Denny]

We scrapped about $150K of electrical components that didn't have anything wrong. DRMO just wouldn't take them.

[momo]

is that how you short a stock? i've only bought stocks still confused on shorting and forex.

no, this is options trading. i'm buying a call, which is the contracted right, but not the obligation, to buy a stock at a certain price for a certain premium.

[Jewrrick]

My novice opinion is that the rest of this week and next week will be very telling of what will happen over the next couple of months. Wall Street is weary of the politicians right now and the government as a whole. Any amount of negative news will send it into another downward spiral like the last few days of trading have.

Individual stocks will always very, but the market as a whole will likely not bottom out until late next month or early October. I don't have any numbers or anything like that to back it up just a gut feeling.

[347Mike]

Another hour and fifteen minutes..

[The King]

Were's obammy now that Ben hath spoken?

[Broncojohnny]

The last hour will tell what sentiment is.

I can't believe that Uncle Ben didn't at least toy with the notion of QE3 in his statement. I fully expected that he would.

If the market closes with a gain today after the weak Fed showing, I think it will be a good sign of a possible bottom forming.

[Sgt Beavis]

A silver lining.

WTI Oil is now trading at $78.24 barrel
Wholesale Gasoline $2.64 gal.

[Denny]

The last hour will tell what sentiment is.

I can't believe that Uncle Ben didn't at least toy with the notion of QE3 in his statement. I fully expected that he would.

If the market closes with a gain today after the weak Fed showing, I think it will be a good sign of a possible bottom forming.

Fed's loss of confidence on the economy. Beji is throwing in the towel, basically saying that this economy needs help. No rate hikes for 2 years. We might have a good turn around, but my long is solid.

[2K2 LS1]

Roller coaster ride of false hope in the DIJA today

[slow99]

Fed's loss of confidence on the economy. Beji is throwing in the towel, basically saying that this economy needs help. No rate hikes for 2 years. We might have a good turn around, but my long is solid.

Lol, or they're trying other avenues like changing their tone to impact interest rates or extending the average debt duration before launching QE3... It will be another 6 months before the impacts of QE2 can be assessed.