not sure how to play this. There's the safe way, all cash, but no money to be made in cash! Buying a 300 plus point down open looks awfully tempting....
If you want to trade the drop (buy intraday) then your number for today is DOW at minus 320. This is the pre-market low adjusted for fair value. To trade long you'd want to wait for an intraday test of that level.
Re: BAnks "I'd rather trust a country man, than a town man. You've been touched by his eyes take a look if you can. He'll smile through his guard Survival trains hard....
day trading now is a good way to recover.. or just lose all that left :) You think stepping into POT or MOS may gain some profits today? looks like nothing left to make a profit
Thinking about short MER cause it's not down on the day due to BAC aquisition, but the aquisition is in stock, so if BAC tanks so will MER
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By all means, keep the ball rolling and post a new opinion.
Top 97%
ramigabai
Sep 15 at 4:58 ET
shit I hold too many shares :(
Top 1%
DowJonesDave
Sep 15 at 4:59 ET
not sure how to play this. There's the safe way, all cash, but no money to be made in cash! Buying a 300 plus point down open looks awfully tempting....
Top 1%
DowJonesDave
Sep 15 at 5:00 ET
However my own opinion is that this is just the beginning of the meltfown (the real one), but whether it will happen now or not I just don't know...
Top 1%
DowJonesDave
Sep 15 at 5:40 ET
If you want to trade the drop (buy intraday) then your number for today is DOW at minus 320. This is the pre-market low adjusted for fair value. To trade long you'd want to wait for an intraday test of that level.
Top 1%
DowJonesDave
Sep 15 at 5:47 ET
ramigabal, I'd start over with all cash. You'll have to be really aggressive to recover the portfolio. Time to try day-trading, man!
Top 1%
DowJonesDave
Sep 15 at 5:52 ET
Re: BAnks
"I'd rather trust a country man, than a town man.
You've been touched by his eyes take a look if you can.
He'll smile through his guard
Survival trains hard....
Top 1%
DowJonesDave
Sep 15 at 6:25 ET
New pre-market low adj for fair value: minus 340
Top 97%
ramigabai
Sep 15 at 6:39 ET
day trading now is a good way to recover.. or just lose all that left :)
You think stepping into POT or MOS may gain some profits today? looks like nothing left to make a profit
Top 1%
DowJonesDave
Sep 15 at 6:52 ET
don't follow those sorry. I'm looking at a trade in a bank. looking at MER and BAC
Top 1%
DowJonesDave
Sep 15 at 6:58 ET
Thinking about short MER cause it's not down on the day due to BAC aquisition, but the aquisition is in stock, so if BAC tanks so will MER