I am getting out of all my long position today until the situation in greece gets clearer. If Greece default this will be a hell of sell offs but this pose a very good opportunity to pick undervalued stock. I am ecstatic now, this will be a very good opportunity to make money. On the other hand, i am accepting my losses. Right now market sentiments is so strong that fundamental does not matter as fear rules. I am still thinking whether to short any stocks but have no idea.

BAC looks to drop below $7.00 If it drops below $6 I will start looking at this stock as it will be at a very attractive price but depending on the consequences in greece, this stock might go all the way below $5

The worst case I would imagine is a eurozone breakup. But the first thing that needs to happen will be a greece default. Let us see how the events unfold in Greece.

I'm riding this down and collecting money. I see no indication that the dip buying is here yet. My PUTs are exploding upwards, sold covered calls are imploding and hopefully let it expire to zero.

This post has been edited by danmooncake: May 15 2012, 10:08 AM

Is the market sentiment in DJ really so pessimistic?

BAC and other banking stocks are taking the heat from JPM case. There are market chatters that BAC and GS are having same kinda losses on betting on market.
Weird enough, they are the MM.

http://www.allstocks.com/edu/html/internet_lingo.html

I am seriously thinking of shorting banking stocks after the talk of greece coalition government failed. Dont have balls to short BAC though, they passed the stress test, not much exposure to european assets, forward PE at 7, price to book ratio 0.37 which is insane meaning you could buy BAC assets at a 60% discount. The only problem with them is that they need to buck up their earnings to justify the share price.

Probably looking at some european banks, maybe BCS because of their exposure to spain and italian assets.

ARGH. Markets are incredibly choppy today!

Groupon (not in my portfolio) and my china's based stock RENN is doing well.

I though they have a lot of bets through CDS to european asset?

My current gambling positions +80% fuyoh the power effect of macroeconomic factors
disca $2.80 now $4.5 +61% exited
bwld $7.10 now $4.61 -35% cut loss liao
sxci $10 now $21.8 +118%
lulu $19.20 now $14.05 -27% cut loss liao
dltr $12.16 now $14 +15% exited
tsco $98.50 now $97.18 -1%
hlf $68.74 now $56.02 -19% cut loss liao
aapl $560 now $553.17 -1%
dell $16.18 now $15.82 -2% swing trade fail, went below support line, cut loss
bac $8.2 now $7.75 -5% swing trade fail, went below support line, cut loss
mu $6.52 now $6.24 -4% swing trade fail, went below support line, cut loss
dia $11.60 now $9.25 -20%
dltr $102.83 now $101.12 -1%
disca 50.91 now $50.83 -0%
bwld 86.19 now $86.50 +0%
disca $4.50 now $3.80 -16% Call Options Expiring Friday, October 19, 2012 strike price $50
gld $17.54 now $20.50 +16% Puts Options expiring Jan 18 2014 strike price $156 http://forum.lowyat.net/topic/2106439/+1740 Post #1746
tuz $51.02 now $51.02 +0%
fivz $81.82 now $81.92 +0%
tenz $86.21 $87.03 +0%
ltpz $67.66 now $68.55 +1%

this is sample of unacceptable graph damage


danmooncake, regarding those selling those near term cover calls...to get some cash flow or sell those out of money puts I made a bet and just ride it down, will buy more when the situation stabilises. ie. turning point euroweenies get their act together & dog jones doji. but if its non-austerity moves, then longkang lo

double check graph for current gambling positions and damage its all within acceptable tolerance range

http://dl.dropbox.com/u/23922568/Most%20Ha...%20America.pdf/

Bac has cut down a lot of European assets since 2009. The most exposure to the troubled nation is at around 1b which is manageable. The contagion effect which is sth that bac should be worried about.

Where do you get this document? mind to share. I always looking something like this not those dodgy "recommendation" research paper?I am planning to add more stake on this stock if i have done more research on this stock.
And when was this article issue? Though I not 100% agree what he said.

This post has been edited by foofoosasa: May 16 2012, 08:34 PM

Research rePort by independent firm written last dec. I trust them more than wall street analyst.

http://themarketsareopen.blogspot.com/2012...k-nyse-bac.html

Depends on your ST or LT plan. If you wan to buy n hold, this is at a very attractive price. If u wanna trade then think twice, ST Greece effect n the eurozone breakup possibilities.

This stock is subject to manipulation as traders use super computers to trade bac, this means the stock will b more volatile. It is also the most active stock in NYSE n NASDAQ for quite some time.

Thanks man. I am well aware of other factor.

The past two days been like this.. buyers came in the early trade, MM pushes price up, then late day, they exit and drop back down to flat or negative. Good opportunity to trade by timing your entrance and exit and grab some profits here. There won't be any long term buyers until Greece mess is settled.

The mutual funds are sitting on pile of cash.. still waiting for better valuation. We're not here yet.
I'm hoping Bernanke and his team will just shut the f up for now - stop this nonsense about additional easing.

Apple is being hammered and nearing a good entry point at 535-540.

Right on bro but stay cautious. There are still a lot funds holding now and some thought AAPL was a BUY when it was 600.
The funds will sell to raise cash if they can`t bear the pain when it drops to low 500 in a couple of trading sessions.
Those investors who bought at high 500 will weep if it drops below 500.

This post has been edited by danmooncake: May 17 2012, 11:50 AM

it seems below 500 is not that difficult.
i am also waiting for IBM to drop back to 170 where WB bought it, but it seems a bit hard.

This post has been edited by yok70: May 18 2012, 04:32 AM

Entered some big stocks yesterday. Will collect more.

So many attractive stocks now.

PM stocks big bounce yesterday......