Looks like another day to sell at open and look for nice dips entry.
GDP report coming in soon.. let's watch for market reaction.

8:30pm
GDP came in as exactly expected: 2%.

Not much improvement in Dow futures.. so, it is going to be sideways trading or down again (some selling ahead of next week).

This post has been edited by danmooncake: Oct 29 2010, 08:32 PM

Yup, bought AMLN @ $10.11 the moment the bad news hit them. Solid company being hit hard by FDA.

Premarket looking good. Looks like pre-election rally.

Dow +40 pts
S&P +5 pts

I'll be adding more shorts if we get to the highs again this week.

SIRI anyone?

Bought some SPXU @ 23.30 and TZA @ 22 at open.
Let see how they go later.

Closing update
Dow 11124.62 +6.13 +0.06%
Nasdaq 2504.84 -2.57 -0.10%
S&P500 1184.38 +1.12 +0.09%

Really nice! The sell at open gave the bulls to turn to bears immediately and take profits accumulated since last week. I've added more bear shares to ride this down a bit.

This post has been edited by danmooncake: Nov 2 2010, 04:34 AM

Profit taking again. C hit low 4.10 and close 4.15. What a day.

I got stuck with risky stocks of IRE/NBG.

ire good luck there. ireland is part of the piigy country pretty screw up.
should load up in citigroup. next year this time probably 8usd or more

Election day in US. Pre-market equities surged up ahead of this day and also Fed meeting.

Let see.. nice day to unload more longs and add more shorts.

understood, taken that into considerations already, just a quick intra day trade. Now stuck. Not much, so probably will let it run..

Loaded AMLN 12.88 x 500.
Sold off C for AMLN. Pickup C again when it breaks 4.00-3.99

Closing update
Dow 11188.72 +64.10 +0.58%
Nasdaq 2533.52 +28.68 +1.14%
S&P500 1193.57 +9.19 +0.78%

Highest closing tonight for the indexes.

I've to close out my TZA @ 22.45 position today. Not much to scalp.
Still holding on SPXU. Hoping for election day results profit taking tomorrow.

Guys, been reading these threads on US trading with interest, very informative, thank you.

Was thinking, since the withholding tax on dividend payout is so high for US counters, has anybody here considered Canadian stocks where the withholding tax is lower, and the counters are not so volatile ?

Secondly, if we hold the Canadian Dollar, it is certainly very much stronger and not as volatile as the USD, being a Commodity Currency.

Mod, if these ideas need to be put into a new thread, please alert.

Would appreciate the opinions of the folks here with regards to Canadian Stocks and the TSX.

Depends on your investment/trading plans, for me, I like volatility.
TSX has no volatility, low volume. Even Canadians invest in US for better returns.

I'm sticking with NYSE, world largest casinos.

what is the use if there is no votality?

i dun understand the reason why u all are sooooooooooooooooooooooooooooooooooooooooooooooo scared of tax on dividend. No, its not high. Don't be a cry baby over a fixed business process. Its part and parcel of life. get over it.

http://www.wwwebtax.com/income/dividends.htm


Take LVS for example : u buy at say $45/- in few days it will reach $47. Buy 300 units ($13,500) - on margin possibly then sell it off at $47, u already earned about $580. Why wanna keep until it rot and only earned dividened?

Suggestions :
- if you wanna trade US stocks and only seek for DIV, then I suggest u stick back to KLSE, buy Genting or buy YTL Power. That is sufficient for "low" risk trading.

This post has been edited by zamans98: Nov 3 2010, 12:09 PM

Dan, thank you. Sure, for trading, nothing like a high beta market, for eg the NYSE. But then, not even the NYSE can beat the RWS too, money on the spot, haha. Thank you, appreciated your opinions.

boss - wow, money on the spot? Care to explain a bit in details?

was expecting more kick ass from mid term oh well, now we'll wait for fed next move
pullback is possible, crash & burn who knows? we could be in the early stages of a bull run

http://www.bloomberg.com/news/2010-11-03/b...ules-taxes.html

The Republican gains in Congress mean U.S. companies from Goldman Sachs Group Inc. to Wellpoint Inc. may be able to weaken or block what they consider President Barack Obama’s anti-business policies on health care, the environment, taxes and financial reform.

Republicans will use their perch as the new majority in the House of Representatives to try to eliminate funding for parts of Obama’s health care bill opposed by business as well as curb regulations and government spending, Jay Timmons, senior vice president of the National Association of Manufacturers, a Washington-based lobbying group, said in an interview before the election.

“Americans voted for jobs and economic growth” and “resoundingly rejected” Obama policies, Thomas Donohue, president of the U.S. Chamber of Commerce, the biggest business lobbying group, said in a statement last night.

The results will bolster Republican efforts to extend Bush- era tax cuts for those earning more than $250,000 and to defeat Obama’s proposals to increase taxes on companies’ overseas profits.

On health care, they are “really going to be pushing back on the regulations,” said Kim Monk, managing director at the investment advisory firm Capital Alpha Partners LLC in Washington. “There could be some serious blowback from a Republican Congress.”

http://www.bloomberg.com/news/2010-11-03/o...-victories.html

RWS = Resort World Sentosa.

NYSE is the largest casino in the world. We're all here putting our money on probabilities.

ahhhh.. like tat one huh. Thanks
NYSE still d baddest and bestest (??) .

RWS is not worth a visit, I will rather buy SIRI and feel safer than putting a chip on the baccarat table.

To each his/her own, my friends, specific objectives are in-place by different folks for punting or for growing money steadily, depending on asset allocation strategy, leading to selected instruments and sometimes on mood too.

spot on man.

So what stocks are on your mind in NYSE? BRK.B is a good choice if you are looking into DIV+ solid stock.