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Stock Market 2016
01-22-2016, 08:33 AM
Hey guys, I'm thinking of taking the plunge and shorting this bitch. It's been a while since I've looked at discount brokers and when I did, it wasn't for margin accounts.
I've got a little over USD 20k just chilling in my checking account and wouldn't mind putting around 10k of that into a margin brokerage account. Can anyone recommend a good online broker for shorting with low commissions? I'm not concerned with fancy charting software or other gimmicks, key thing again is low commissions, no penalties for not trading frequently, and of course reputability.
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Stock Market 2016
01-22-2016, 09:10 AM
^If you want to day trade (enter and exit in the same day) I think you need 25k in your account. I could be wrong about this though. Otherwise go for a broker who has a nice signup bonus in regards to free cash or free trades.
Beast, I think we may get a pullback around the 1925-1930 area before it heads back down to the 1850 area again and then one last rally up to the 2000-2100 area before this thing goes down for good.
Of course the bottom can drop out at any time and I think you're right in that the larger trend is down.
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01-22-2016, 11:04 AM
Also, a lot of the frackers are highly levered and simply aren't profitable with oil at these prices. They're overdue for bankruptcies, which will take a lot of capacity off the market. A tailwind for oil.
The market crashing could lower demand for energy further. A headwind on oil. Added Iranian capacity will increase supply of oil. Another headwind.
I think oil and energy will be volatile for months to come
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01-22-2016, 11:53 AM
Beast, a two day rally has you running? Run if something fundamental about your original thesis has changed, but hold strong against short term fluctuations. The way I see it, the rally is simply a response to the speed at which the markets were falling. Nothing goes straight up or down. I didn't close a single short position because I'm not looking at the day to day. I still believe that there is a long way down to go.
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Stock Market 2016
01-22-2016, 03:11 PM
I've started to short this rally, guess I'm a fucking moron. The shorts I put on in last weeks rally were closed the following day so my portfolio Delta was a little long for my liking, it's nice to get the chance to be short again although I'm saving some bullets in case we keep rallying.
The thing is, and I've mentioned it before, no one knows which way the market is going to go. The talking heads were telling people to buy at all time highs, that's when you should have been short! And then when we're down 10% in a few weeks they're telling people to sell, crazy. One of the keys is to buy into weakness and sell into strength.
This volatility is great, I think we can expect more of it as vol normalises, it's been too low for too long. Nothing worse than a one sided market.
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Stock Market 2016
01-24-2016, 09:50 PM
So has anyone looked at the Baltic dry index? It's at an all time low. From 1200 dollars highest 52 week range. Down to 354'
The bdi is the most important index for economic trade.
Apparently there is no ships moving right now.
No trade.
I am the cock carousel
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Stock Market 2016
01-25-2016, 02:31 AM
Omad,
Do you have a link to a site that shows pricing for the next 24 months and various strike prices?
When I looked I kept getting Jan 2016 stuff.
Thanks.
Fate whispers to the warrior, "You cannot withstand the storm." And the warrior whispers back, "I am the storm."
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Stock Market 2016
01-25-2016, 02:39 AM
@samsamsam - No sorry, I get prices through my trading platform. Any price you get now are just the last trade price, when the market is open option prices are continually changing.
If you want a specific date and strike let me know and I can give you Fridays close.