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[Liquidity]

that is terrible, well atleast it was only 450 though. I cant believe how all these companies and people can get away with this crap for years.

I honestly think  Bernie Madoff should get life in prison or the death penalty. honestly atleast life in prison. i dont think ny has the death penalty but if they did i would have his butt frying like some bacon. He better get life in prison though, a guy lost his life savings to madoff , then committed suicide. the victims list has to be huge. 50 billion dollars can touch alot of peoples lives. hell he could have sent out $150 to every single american. he better get life in prison

[rookieNYC]

Not to detour this thread but Madoff clients have to be clueless..Ive seen Madoff statements and I can tell you it was plain as day that fraud was the main course..His sons should be indicted as well..It was impossible not to know if you worked for this guy..As for the individual clients its very sad..These were people who were *NOT* knowledgable of the equity markets,and if they were then shame on them because those statements were jokes..This is a greed based investment and sad to say many people didnt want to question anything as long as they made their gains..But there is no win win win win on Wall street every year..The *BEST* of the best take their lumps from time to time..To think Madoff was any better than a Lampert,Cohen,Lahde is laughable at best...Old money is dumb money..But all the same I feel bad for the people who were wiped out by this nutcase...The feeder funds were what really astounded me...Unreal..

[John_in_NC]

Hey rookie while we are talking about madoff, do you think it could have just been a bust with a government bailout insurance plan by declaring fraud.

http://www.indymedia.ie/article/90328?ref=patrick.net

[Liquidity]

they only insurance i know of is SIPC and that only covers 500k. rookie probably knows better than i do but i would think SIPC would be the only protection they have and 500k maybe helpful for the some of the smaller inWestors,but many clients had million or billions in with madoff

[rookieNYC]

Fraud protection does not cover investment funds - only brokerage assets

SIPC and Capco insurance may only cover a diminutive portion of losses but I'm sure there are many arguments to be made if the money was ever invested in securities..I believe that the investors may get back *something* but a direct bailout is not happening imho..I totally disagree with the article link you posted..To think that Madoff through himself on the mercy of the courts with a guilty plea to bailout investors he took advantage of for *years* is illogical..Another reason why I feel there wont be a bailout of these investors is simply there are so many wealthy investors who lost *trillions* with a T in 2008 in other hedge funds...The line would stretch from soho to the upper east side for bailouts..And there will be more hedge fund disasters to come if the market continues to fall..There is still alot of leverage in this market..

[Liquidity]

bought 3300 shares of DRYS @ 16.45  pre market

the BDI is up  52 pts this morning. it was up 32 yesterday and will be up again monday if it its up more monday this should really pick up steam.

i missed yesterdays move and I'm kicking myself. the BDI comes out before the market opens so yesterdays rise was a gimme.

[Liquidity]

gonna be keeping an eye on DXO (oil etn) today

[Liquidity]

sold out of dzz for a 10 cent profit = $50 lol got sick of it going back and forth. that $13k could be making a nice some of money on other things.


drys ended 16.58 gaps and profit taking should be done now. mondays BDI will be key to its movement.

added another 1200 shares to DRYS @ 16.47

[REI_Chris]

gonna be keeping an eye on DXO (oil etn) today

Same here. I got into USO, and may have got in a bit early, but I got in at 32.20 this morning and it was resilient today with all of the bad news coming out and the market down. Only bought 15 shares (young investor) but I have my stops set if we don't see a gap up or some kind of gain afterhours/ Monday/ early next week. If it continues to move sideways, I may dump it.

[Liquidity]

sold out of DRYS 17.15  premarket 4500 shares

[Liquidity]

thinking of shorting MCD soon. ill keep an eye on it for a while

DZZ finally made a decent move after i sold out on friday its up almost $2 from where i sold it. darn gold bugs i wish they made up their minds sooner i got sick of it going back and forth for a week.

hoping DRYS gets beat up now. i didnt like the price movement this morning and they sold a ship for 18.5 million that they had previously sold for 55 million. that didnt make much sense to me. they might aswell have kept it for 18.5 million. options expire this week and i think the shorts will have their way with drys since it has been getting some pub. the new investors in DRYS seem to not know anything about the company, other  than p/e ratios which are gonna change big time from last years great numbers.

[Liquidity]

gonna be keeping an eye on DXO (oil etn) today

Same here. I got into USO, and may have got in a bit early, but I got in at 32.20 this morning and it was resilient today with all of the bad news coming out and the market down. Only bought 15 shares (young investor) but I have my stops set if we don't see a gap up or some kind of gain afterhours/ Monday/ early next week. If it continues to move sideways, I may dump it.

chris

 if this is for gaining some experience then its ok but if your total investment money is $450 and each trade will cost you $8-$10 it will be hard to make money unless you get into some doubles and really compound it.

[REI_Chris]

gonna be keeping an eye on DXO (oil etn) today

Same here. I got into USO, and may have got in a bit early, but I got in at 32.20 this morning and it was resilient today with all of the bad news coming out and the market down. Only bought 15 shares (young investor) but I have my stops set if we don't see a gap up or some kind of gain afterhours/ Monday/ early next week. If it continues to move sideways, I may dump it.

chris

 if this is for gaining some experience then its ok but if your total investment money is $450 and each trade will cost you $8-$10 it will be hard to make money unless you get into some doubles and really compound it.

It's more or less a learning experience. I've done so much research for months now and I've finally decided to put it to test in the market. I'm more of an options player anyways. More risk, but much more reward. I just need to get my newbie emotions in check now. I bought C puts at .32 this morning and thought C had sold off too much in the premarket, and on the first decent reversal, I got shaken up and set a stop at .25 and sold. I then went to class and came home to see those same puts at .77. I was literally sick, but hindsight is 20/20 and I have a lot to learn. At least I picked the right option/ price, just didn't have the gusto to weather it out.

[Liquidity]

ok i see

[REI_Chris]

Liquidity,
What platform are you using to trade options if you don't mind sharing? I've been using Scottrade, but it seems more adapt to trading stocks and not so much options.