UYG for a quick play?

Discussion in 'Stock Market' started by Paulie, Feb 10, 2009.

  1. Paulie
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    Paulie Platinum Member

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    As the pundits start spinning this Geithner proposal throughout the rest of the week, they could end up pushing investors into financials, if just for a short spike.

    I can see a little profitability in UYG @ $3.05, for a rest of the week play.
     
  2. DanK
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    DanK Administrator Staff Member

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    Wow, down almost 20% today and almost a 52 week low.. I agree though this could pop for a few days..
     
  3. Paulie
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    Paulie Platinum Member

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    I can't believe RIMM!!

    WOW! I almost bought that, too. I'm still really skittish about stocks right now. There's been about 5 moves I ALMOST made, but decided not to, and all of them ended up being duds not far down the road.

    Bob Macke from Fast Money has been pushing RIMM lately, too. This is just another great reason not to listen to anything MSM financial pundits say about investments.
     
  4. DanK
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    DanK Administrator Staff Member

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    I jumped into UYG at $3.07 today, so hopefully we will have a good run on it tomorrow :) I think RIMM will bounce back and I think if it gets cheap enough it could be a target for an acquisition. (I also heard that on cnbc as well)
     
  5. Paulie
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    Paulie Platinum Member

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    Dank I really hope you didn't buy that because of me. It was just a thought, really. I didn't even buy it, myself. Didn't have the balls.

    It was down under 3 for a little while today for -16%, and it at 3 right now while I type this for -5%. I'm going back and forth about whether I should grab it and take a shot on a spike tomorrow. It's rallying a bit right now, and it's got me thinking there might be a jump tomorrow.

    I just don't want to be left holding it over the weekend if it doesn't, though.

    Dilemmas, dilemmas.
     
    Last edited: Feb 12, 2009
  6. Paulie
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    Paulie Platinum Member

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    This Obama proposal to subsidize mortgages should help this play out pretty nicely.

    I finally pulled the trigger at $3.10.

    Tomorrow ought to be interesting.
     
  7. Toro
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    Toro Diamond Member

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    You may get a bounce. We had a reversal at 3:15 as the announcement was released to jam the bears, which they promptly did.

    This market is trading off news out of Washington. I keep thinking the market is going to go down and retest the lows but the move today off what wasn't particularly compelling news shows you how skittish even the shorts are.
     
  8. DanK
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    DanK Administrator Staff Member

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    Not at all, I really appreciate the idea. I bought a small position and look to add if it drops more.


     
  9. DanK
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    DanK Administrator Staff Member

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    Down 12.42% today, a good time to jump in for a bounce tomorrow?
     
  10. Paulie
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    Paulie Platinum Member

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    Who the hell knows anymore with these banks. Are you still holding from the other day and looking to average down?
     

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