Investing

What did you buy? What might you buy??

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  • Sep 24th, 2017 3:07 pm
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Deal Addict
Mar 10, 2005
4220 posts
389 upvotes
Jon Lai wrote:
May 18th, 2017 10:55 am
I got tired of holding Hydro One, and finally got rid of it. It's been dead money to me for the last year.
If you want growth then yea H is not for you.
I don't do downvotes but feel free to downvote me.👎

Fantasy Baseball players, I have 2 openings in a 30 team Dynasty league - contact me for details.
Deal Addict
Jun 27, 2007
3102 posts
493 upvotes
deal_with_singh wrote:
May 18th, 2017 10:52 am
I've been sitting on 90% cash with the remaining in Hydro One for the last month waiting on this damn correction...starting shorting here and there (quick flips). Better come soon lol.
build shopping list. big picture - 2135 on SPX was the high before Nov elections. Dow was around 18000. These are the levels we should *test* and hold for bullish case to be intact. Given current bull market in its 9th year, maybe 2400 is it.
Tops take time to form and we did spend considerable time up here. Another red flag - market usually moves in ranges. Implying if resistance is overtaken, market will establish new range equal in value to the old one. Looking at the charts, old range was 1810-2135 (320 points). New has to be 2135 + 320 = 2455.
Good approximation is 1800-2100 turned into 2100-2400.

Momentum turned negative, internals are weak and participation has been narrow - a handful of stock leading, with a lot of hot money in MoMo stocks like TSLA, MU, AAPL, FB, NFLX, AMZN, etc.
This is my view today. If conditions change, I will take new stance...
After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: it never was my thinking that made the big money for me. It was always my sitting. Got that? My sitting tight!
Member
Sep 22, 2005
467 posts
40 upvotes
BC
You have a lot of US stocks, do you file T1135? I am hesitating to go over the threshold.
jerryhung wrote:
May 17th, 2017 2:21 pm
Wow at today, worst drop in 8 months

Bought
BAC $22.5
NVDA $129.8
AMD $11.5 (whew, glad I sold some yesterday $12.5)
MU $27.6
SWIR $26.5

TDB 900/902 (CAD/USD)
Member
Jan 15, 2015
401 posts
149 upvotes
Looking to buy ABEV ERJ PBR BRFS VIV

10:22 AM EDT, 05/18/2017 (MT Newswires) -- Brazilian stocks were roiled 10% lower before trade was halted following revelations that President Temer was reportedly taped arranging bribes with a meat packing tycoon at JBS for ex-leader Cunha, which was followed by arrests of a prosecutor and key presidential allies. The tapes were delivered to the Supreme Court as part of a plea bargain deal. Police also raided the homes and offices of Senator Neves, a right wing leader. The Brazilian real plunged from 3.134 to 3.41 before steadying near 3.26 in reaction to the political upheaval.
Sr. Member
Aug 17, 2008
524 posts
149 upvotes
mrtrump wrote:
May 18th, 2017 9:34 am
Gartman predicted the recent stock market correction!!!!

http://dennisgartman.blogspot.ca/2017/0 ... there.html
I was going to post the dismissive adage "a clock is right twice a day," but then I would be insulting all clocks.

Gartman Review: "Unworthy"

Preface

Mr Gartman built up his name and brand very well from the late 90's through the mid 2000's. He got up during early morning London hours to gather his information and thoughts on multiple markets, while living on the East Coast. He put this in a newsletter format and emailed them to his worldwide subscribers that ranged from international shops down to boutiques. Well done.

Main Body

The problem was that if you were a specialist in a financial sector or happened to be of a nationality that he wrote upon that was not American, you would see his errors.

For people on the desk, when they went for their morning constitution, they took along something to read. The proverbial newspaper under the arm. Others took the daily Gartman and a few even took some form of light research reading. As some of you know from personal experience, the quality of the reading material for those trips does not have to be very high. The threshold is low. In fact, just about anything will do.

Skipping ahead to the late 2000's. With Gartman well on his jumping the shark, with wrong market calls and uninformed comments etc, a business manager for our floor came around to take a survey of the desks. "Who still wanted Gartman?" No one, to a man, said they wanted to renew our subscription. Think about this! Human nature had not changed. People still took their morning constitution. There's still a need to read something, anything, while occupying the stall. While you could see newspapers were on the decline from the morning commute, some people still brought them in. Yet no one ... no one ... thought there was any value in a Gartman.

Concusion


When you are unworthy of the stall, you are unworthy.

Epilogue

Some people still follow Gartman, but many more like to use him as the reverse indicator.
Deal Expert
Feb 11, 2009
15630 posts
1718 upvotes
Toronto
Jon Lai wrote:
May 18th, 2017 10:55 am
I got tired of holding Hydro One, and finally got rid of it. It's been dead money to me for the last year.
You made a smart decision, but to me I just needed to "park my cash" and decided Hydro One was a safe play in a "market crash" environment. Pays me a 4.X% dividend + some capital gains = more than what my savings account pays me even if you use tangerine's 3.21% promo rates.
dlhunter wrote:
May 18th, 2017 11:09 am
build shopping list. big picture - 2135 on SPX was the high before Nov elections. Dow was around 18000. These are the levels we should *test* and hold for bullish case to be intact. Given current bull market in its 9th year, maybe 2400 is it.
Tops take time to form and we did spend considerable time up here. Another red flag - market usually moves in ranges. Implying if resistance is overtaken, market will establish new range equal in value to the old one. Looking at the charts, old range was 1810-2135 (320 points). New has to be 2135 + 320 = 2455.
Good approximation is 1800-2100 turned into 2100-2400.

Momentum turned negative, internals are weak and participation has been narrow - a handful of stock leading, with a lot of hot money in MoMo stocks like TSLA, MU, AAPL, FB, NFLX, AMZN, etc.
This is my view today. If conditions change, I will take new stance...
I completely agree with you. The DOW 18,000 level is what I'm waiting on. I had an order for TSLA to short at $327 again...it peaked at $327, but I didn't get the fill sadly. It's a certain short to me. AAPL, and FB might have more room to go though given whats being done.

NFLX and AMZN I do not follow so I can't speak for.
Selling Grizzly Privy Maple Leafs - $33 ea - PM!
Deal Addict
Jun 27, 2007
3102 posts
493 upvotes
dlhunter wrote:
May 18th, 2017 9:49 am
sold EWZ Jul 30P for 1.4 CR
added Jul 36C for 1.3 CR - strangle 30/36 for 2.7 CR = probability of profit 80%

they sold the close, the bounce is over?!? hope so.
After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: it never was my thinking that made the big money for me. It was always my sitting. Got that? My sitting tight!
Deal Addict
Jun 27, 2007
3102 posts
493 upvotes
GPS -> bot May 23C and sold 23P and 24C for 0.25 CR

Gap up 5% after earnings beat
After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: it never was my thinking that made the big money for me. It was always my sitting. Got that? My sitting tight!
Member
User avatar
Oct 19, 2016
348 posts
109 upvotes
Toronto
LOL that is funny and sad.

His newsletter costs $500 a month, so i guess only for the "serious" investors ?

MrMom wrote:
May 18th, 2017 12:49 pm
I was going to post the dismissive adage "a clock is right twice a day," but then I would be insulting all clocks.

Gartman Review: "Unworthy"

Preface

Mr Gartman built up his name and brand very well from the late 90's through the mid 2000's. He got up during early morning London hours to gather his information and thoughts on multiple markets, while living on the East Coast. He put this in a newsletter format and emailed them to his worldwide subscribers that ranged from international shops down to boutiques. Well done.

Main Body

The problem was that if you were a specialist in a financial sector or happened to be of a nationality that he wrote upon that was not American, you would see his errors.

For people on the desk, when they went for their morning constitution, they took along something to read. The proverbial newspaper under the arm. Others took the daily Gartman and a few even took some form of light research reading. As some of you know from personal experience, the quality of the reading material for those trips does not have to be very high. The threshold is low. In fact, just about anything will do.

Skipping ahead to the late 2000's. With Gartman well on his jumping the shark, with wrong market calls and uninformed comments etc, a business manager for our floor came around to take a survey of the desks. "Who still wanted Gartman?" No one, to a man, said they wanted to renew our subscription. Think about this! Human nature had not changed. People still took their morning constitution. There's still a need to read something, anything, while occupying the stall. While you could see newspapers were on the decline from the morning commute, some people still brought them in. Yet no one ... no one ... thought there was any value in a Gartman.

Concusion


When you are unworthy of the stall, you are unworthy.

Epilogue

Some people still follow Gartman, but many more like to use him as the reverse indicator.
Sr. Member
Feb 1, 2015
599 posts
129 upvotes
MB
Sold the BetaPro S&P 500 VIX ST Futures Daily Inverse (HVI.TO) @ $25.37.
Jr. Member
User avatar
Jul 11, 2015
193 posts
92 upvotes
Victoria, BC
SkimGuy wrote:
May 19th, 2017 11:42 am
Bought some HMMJ yesterday
just cause its down so much lately? or are u expecting something good to happen in the near future for weed? i feel like this is the worst weed has been since before the election.
You're the average of the five people, you most associate with.
Deal Addict
Jun 3, 2009
3608 posts
425 upvotes
Montreal
iceage wrote:
May 18th, 2017 11:34 am
You have a lot of US stocks, do you file T1135? I am hesitating to go over the threshold.
Many discount brokers can now generate the T1135 upon request so you don't have to do much yourself.
Member
Sep 22, 2005
467 posts
40 upvotes
BC
2 days ago, I bought some stock 10 times more than I planned and when I noticed it, I sold it right away. The amount went over the threshold, so I need to file t1135 any ways this year?
cn_habs wrote:
May 19th, 2017 1:13 pm
Many discount brokers can now generate the T1135 upon request so you don't have to do much yourself.

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