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Koirhor posted:So I'm a novice at the stock thing, but if you had timed it correctly could you have bought like 100000 shares of accenture at 0.01 and then sold them at $40? effectively making $4,000,000? Even if you got a fill (you wouldn't have) NASDAQ is canceling the "errant" trades.
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May 7, 2010 11:07
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I WANT TO EAT BABBY posted:Even if you got a fill (you wouldn't have) NASDAQ is canceling the "errant" trades. this was just demonstration, proof of concept.. the coup is p much over
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May 7, 2010 12:22
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Koirhor posted:So I'm a novice at the stock thing, but if you had timed it correctly could you have bought like 100000 shares of accenture at 0.01 and then sold them at $40? effectively making $4,000,000? edit: Nm. Yeah I'm pretty sure any money made from that isn't going to be counted as valid. Kneel Before Zog fucked around with this message at 14:26 on May 7, 2010 |
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May 7, 2010 14:07
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Yes, it's called a limit order.
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May 7, 2010 14:09
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Poor poor "value" buyers at the open... This video always kills me too http://www.youtube.com/watch?v=AsfQsUYZ5Y8
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May 7, 2010 15:07
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Jesus, WTF does this market have against AAPL? Down another 6% today, 14% off its high of $272. Sold my MOT puts for a small gain and went short instead (tight stop @6.75). Didn't feel like paying the Theta premium over the weekend, but if it breaks $6.50 with conviction it's headed to $6.
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May 7, 2010 15:37
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Apple is getting sued in US court by Nokia...
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May 7, 2010 15:42
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I WANT TO EAT BABBY posted:Jesus, WTF does this market have against AAPL? Down another 6% today, 14% off its high of $272.
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May 7, 2010 15:43
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Christobevii3 posted:Apple is getting sued in US court by Nokia... I know, but that doesn't really explain a market cap loss of $32 billion. Also, I don't have a position in AAPL, just thought that the sell-off appeared a bit extreme. It's back up at $240 now, still off way more than its beta would imply. Edit: Jesus, 292 million shares of SPY traded and it's not even 11:30. Plastic Jesus fucked around with this message at 16:21 on May 7, 2010 |
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May 7, 2010 16:18
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Christobevii3 posted:Poor poor "value" buyers at the open... So are you (and everyone else) waiting for something in particular to get back in? I am staying in cash at least until this Europe thing somewhat evens out. With all this volatility I am going to play it conservative.
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May 7, 2010 16:39
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Trade the volatility, you can't invest longer term till it goes away. Especially with the currency crisis going on in the Euro zone.
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May 7, 2010 16:51
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I'm reminded of a tale in Niederhoffer's Education of a Speculator. In an old stock book from 1871 he found the story of a brokerage firm that also held a lot of a particular stock on its own account. They showed up to sell a piffling 200 shares of this stock, and everyone else at the exchange who knew their position took this as a warning sign and started panic selling. The panic became universal and stocks everywhere collapsed. It turns out the firm was executing an order for a client all along. Well, of course, that's why we have the Glass-Steagall act now...oh, wait.
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May 7, 2010 16:54
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I WANT TO EAT BABBY posted:Even if you got a fill (you wouldn't have) NASDAQ is canceling the "errant" trades. ...Well the ones with >60% losses. If you lost 59%, sorry fucker better luck next "glitch".
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May 7, 2010 17:29
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ChubbyEmoBabe posted:...Well the ones with >60% losses. If you lost 59%, sorry fucker better luck next "glitch". I'm curious what happens in more complex trades where it wasn't just a one off buy or sell, but say short covering then clearing or beyond.
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May 7, 2010 17:32
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Cheesemaster200 posted:So are you (and everyone else) waiting for something in particular to get back in? For example 30 year bond futures have been marching higher uninterrupted since the 29th and a single long contract is returning over $5,000 profit to date, with highs over $7,000 yesterday. If big futures contracts are too risky for you, a single contract of long 35 VIX calls roughly doubled in value this morning within an hour of open for a $350 profit with a realistic maximum downside of maybe $100 (since volatility like this doesn't evaporate intraday). It's a traders' paradise out there.
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May 7, 2010 17:34
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Silver is moving like a drat penny stock 4.5% move whatttt
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May 7, 2010 18:03
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Ha, they didn't even cancel my AAPL trades from yesterday. This is great.
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May 7, 2010 18:19
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I WANT TO EAT BABBY posted:Even if you got a fill (you wouldn't have) NASDAQ is canceling the "errant" trades.
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May 7, 2010 22:38
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Christobevii3 posted:Silver is moving like a drat penny stock 4.5% move whatttt Can someone give me a quick rundown of somewhere reputable I can go to purchase precious metals like gold and silver? I'm just starting to play the market a little and I was just thinking of adding silver to my portfolio.
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May 7, 2010 23:52
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VH4Ever posted:Can someone give me a quick rundown of somewhere reputable I can go to purchase precious metals like gold and silver? I'm just starting to play the market a little and I was just thinking of adding silver to my portfolio. if you are talking about buying actual metal, you will never ever beat the dealer price spread and you'll never get more than *maybe* 80% of value trying to sell... it's a fool's game unless you are talking about a *large* buy. just play SLV or GLD
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May 8, 2010 06:10
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e: whoops
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May 8, 2010 14:28
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greasyhands posted:if you are talking about buying actual metal, you will never ever beat the dealer price spread and you'll never get more than *maybe* 80% of value trying to sell... it's a fool's game unless you are talking about a *large* buy. just play SLV or GLD Please read about SLV and GLD before you buy it. If you are believing it to hold its wealth in a crisis be aware that they aren't insured deposits on gold or silver. They don't hold a $1 dollar to $1 of gold either, they are more of a fractional promise of yeah we have some gold and buy some as people invest but couldn't carry out people demanding delivery. A lot of gold can be bought for roughly $50 over spot if you buy in bars.
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May 8, 2010 16:52
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Christobevii3 posted:Please read about SLV and GLD before you buy it. If you are believing it to hold its wealth in a crisis be aware that they aren't insured deposits on gold or silver. They don't hold a $1 dollar to $1 of gold either, they are more of a fractional promise of yeah we have some gold and buy some as people invest but couldn't carry out people demanding delivery. A lot of gold can be bought for roughly $50 over spot if you buy in bars. That was another question actually, is it possible to buy ACTUAL gold and silver, gold and silver "futures" or both? I'd prefer to buy actual gold/silver.
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May 8, 2010 19:45
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You can buy it on eBay (seriously), and the premium isn't too crazy if you shop around.
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May 8, 2010 20:44
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VH4Ever posted:That was another question actually, is it possible to buy ACTUAL gold and silver, gold and silver "futures" or both? I'd prefer to buy actual gold/silver. What are you going to do with gold bars?
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May 8, 2010 21:50
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Cheesemaster200 posted:What are you going to do with gold bars?
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May 8, 2010 21:55
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Cheesemaster200 posted:What are you going to do with gold bars? Hopefully, hold onto them and make a tidy profit!
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May 8, 2010 23:39
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Cheesemaster200 posted:What are you going to do with gold bars? With currencies moving 5% in a day, it isn't horrible to have a small amount of gold as a wealth retainer. Stagflation a year or two out is quite probable after the whole deflation swirling the drain thing stops.
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May 9, 2010 00:07
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VH4Ever posted:Hopefully, hold onto them and make a tidy profit! You might want to do more research on the topic than asking a subforum on an Internet Comedy Site.
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May 9, 2010 01:48
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VH4Ever posted:That was another question actually, is it possible to buy ACTUAL gold and silver, gold and silver "futures" or both? I'd prefer to buy actual gold/silver. It shouldn't be hard to find 90% US silver coins (as in $1/.50/quarters/dimes) or small silver bars on ebay. A pawn shop or jeweler could also hook you up too, for stuff like 1oz gold coins like krugerrands or double eagles. You would not play with futures, unless you want to take delivery of 100 ounces of gold per contract at a certain point in time. Which, as of now, would be worth about $120,000. While I think it's important to hold physical precious metals if you're a high net worth individual, a lot of people will try and convince normal people that the dollar will be worthless and that gold/silver is where it's at. There's 2 problems with that: 1.) At what point would you sell gold? $2000/oz? $3000/oz? If it ever got to that point you'd probably have other things to worry about...like finding a job that pays at least 3x as much, or moving to a more stable country (i don't know of any given this scenario). Also, who would have the money or would want to buy your metals? 2.) If the dollar did collapse, and there wasn't another currency, wouldn't things like food, water, and a knowledgebase relative to surviving like a 3rd world person be a lot more useful? The only reason why I'm answering this is because I hate goldbugs, otherwise I would've given a pithy answer like BABBY. Cheesemaster200 posted:What are you going to do with gold bars? Man if I had 500k to spare I would totally buy a London good delivery bar just chillin under my bed or something.
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May 9, 2010 04:38
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I WANT TO EAT BABBY posted:You might want to do more research on the topic than asking a subforum on an Internet Comedy Site. scary thing is that its probably better advice than 99% of the other poo poo out there.
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May 9, 2010 19:26
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I remember hearing that Buffet has a warehouse where he holds physical silver as part of his portfolio. For those of us not quite at his level, I find it kind of absurd. Hell of a lot of extra work to trade in physical goods than futures. That poo poo is heavy!
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May 9, 2010 19:41
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Yeah but if there is ever a run on the physical metal you are going to wish you didn't own paper.
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May 9, 2010 19:51
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Baddog posted:scary thing is that its probably better advice than 99% of the other poo poo out there. Probably because none of us is in the position to make money off bad advice for other posters.
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May 9, 2010 20:09
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S & P futures up 25 points as of now on the announcement of the Greek bailout we all knew they were getting. This is the markets being efficient, I guess.
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May 10, 2010 02:47
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My grandmother died recently and we found a 100 ozt silver bar in a safe deposit box. It's quite pretty but since the certificate showed that she bought it in 1983 it wasn't the best investment.
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May 10, 2010 02:58
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And the can gets kicked from Greece to Europe into 2011... This is like some game plan of Marc Fabers ramblings on gold and central banks printing money. Credit swap line instantly opened with all the main currency central banks are opened at once in the exact moment the ECB floats $1 trillion usd facility that will then swap with them? Christobevii3 fucked around with this message at 04:24 on May 10, 2010 |
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May 10, 2010 04:13
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abagofcheetos posted:Yeah but if there is ever a run on the physical metal you are going to wish you didn't own paper. Again, what are you going to do with physical metal? Trade it? Barter?
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May 10, 2010 04:26
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Also, I drove down I35 to Austin this weekend. This is a huge shipping route and the amount of semi's and trains on the route this weekend was about the same as when bear stearns blew up, almost non-existent.
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May 10, 2010 05:03
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Christobevii3 posted:And the can gets kicked from Greece to Europe into 2011... I haven't got a clear sense of the loan package, are there austerity requirements for countries who take advantage of it? Am I naive for thinking this feels like TARP without the "everyone must take part, everyone must feel pain" stipulation? EUR/USD up 185+ pips, /ES up 31 points, I'm dubious.
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May 10, 2010 05:36
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