Putting it to the X
By Brett Goldstein on May 06, 2008
24 Responses to “Putting it to the X”
Hey Brett–Did u see my comments under V short-blog this morning
Its a bit oversold BUT you gotta hold it–I missed it at 171 area this afternoon
But it will come to me again
If you shorted over 171 area just hold on My target 164
I would be careful shorting this stock with all the problems uncovered recently with steel from china. Shortage is driving price up. It could retrace to 165 in short term but long term will most likely exceed 220 by end of year.
I think it all depends on perception. X will calm down after all those talk shows, analysts, etc have done. Yesterday’s action does look bearish, though.
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Good luck!
Watch for breakout tomorrow above 173. If so may form new support level. If not get ready to short on Monday.
I actually have been buying June puts for X as well as a number of the Chinese internet stocks. Curious if you have an opinion about the likes of CTRP or SINA both going into earnings next week.
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This is a bit of topic, but i have an account with Fidelity and they will not let me buy Call or Put options. The only thing they let me do is sell covered call options. I asked for an upgrade, but they will not do it. They told me i could just purchase the stock, if i think it will move up. I just don’t feel like purchasing only 100 or 200 shares of the higher prices stocks, it would have to move a lot just to cover the comission.
Why is it so hard to open an option account with a high enough level to purchase calls and puts.
Because trading options is very risky, and you can quite possibly lose an entire position overnight. To be approved for option trading, you probably need a significant amount of money in your account (I would say at least 20K if not more), a decent job, experience in financial markets/trading and liquid assets other than whats in your brokerage account.
If you are on margin and allowed to trade options, you could very easily lose everything and end up owing money (from the margin borrowed) to the brokerage. Obviously, they’ve considered the risks of letting you trade options versus the reward of bigger commissions and found that it wasn’t worth the risk.
Its probably a good idea anyways to avoid options depending on your experience since a lot of people will get into trouble trading them. And small lots of shares is fine as long as you make money and compound it. 200 shares of AAPL from late March would’ve netted you a 50% or more gain by now.
As oil rises higher and higher, many people are pointing to the issue that a bubble is created. Is there really a bubble? Or is oil high price a reflection of its tight supply?
In my view, high oil price is just a reflection of its tight supply. And there are 4 main factors pointing that oil price is going to move higher:
1) Growth in Emerging Economies –> Rising Oil Consumption –> Higher oil price
2) OPEC –> Government depend on oil income –> Cartel restricts supply –> Higher Oil price
3) Geopolitical Issues –> Cause disruption / thread of oil production –> Lower global spare capacity –> Higher Oil price
4) Peak Oil Theory –> Declining Oil production –> Less Supply –> Higher oil price
I believe oil price is going maintain its uptrend in the mid-term. I’m predicting oil price to reach $250 in 2 years’ time.
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Are you glad that you took my earlier advice and did not short X? Longterm this stock will pay off!
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Trading options is very risky, and you can possibly lose an entire position overnight. To be approved for option trading, you need a significant amount of money (I would say at least 20K if not more), a decent job, experience in financial markets/trading and liquid assets other than whats in your account.
If you are in margin and allowed to trade options, you could very easily lose everything and end up owing money to the brokerage. Obviously, they’ve considered the risks of letting you trade options versus the reward of bigger commissions and found that it wasn’t worth the risk.
Its probably a good ideato avoid options depending on your experience since a lot of people will get into trouble. small lots of shares is fine as long as you make money and compound it. 200 shares of AAPL from late March would’ve netted you a 50% or more gain by now.
Somx at 33 cents now at 42 cents
Somaxon Pharmaceuticals, Inc
insiders are buying huge amounts of stocks
I just bought some too. you might want to check it out
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