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I'm pretty sure it's getting extended for another 30 days. If they are going to take it basically erases any value it had because people will sell all of their financials in anticipation of it coming off and then they will short them all into the ground since nothing has changed since it went...

"Cramer called today's crash "the real deal," the one he's been predicting since July of last year and the one he's been preparing for when he advised viewers to trim their portfolios, raise cash, buy gold and stick to defensive and dividend paying stocks." LOL, the one he's been preparing...

very small position with an avg just below 200 so I'm not hurting, more like licking my lips because it seems like a good opportunity. This stock has huge moves so it could go back to 200 in a day or two...or down under 150 haha. I'm buying some calls to go with my small stock position...

Anyone have an color on this? From 220+ to under 170 but there really hasn't been any news the past week. Seems like it's getting very cheap.

Goldman is a buy for the one week, one month and one year time frame. Sure it is a bank but that is the only reason it's down to 135. GS doesn't have any appreciable exposure to all the toxic debt and were the only bank who managed to not only sidestep that mess, but short it and make a killing...

Yeah try going the prop route, but do your research. I wouldn't bother doing any trading seminars, they are mainly bullshit. As far as books go, I would focus on psychology, that is the main difference between a trader and a gambler, though if you are a consistently profitable poker player you...

I thought something bad would happen but didn't do anything about it. When Bear failed I told friends and family that we wouldn't hit a bottom until 2 or 3 more big banks failed. Imagine if I had put my money where my mouth was and shorted lehman, merrill, gs, aig, etc. Oh well, just gotta...

Well you only have two options really: 1) Open an account, immerse yourself in the market and see if you amke money. 2) Get a job in finance, learn the ropes from the inside out and then decide if you still want to go out on your own. Personally I think that learning how the market...

Keep in mind that most of the big hedge funds and smart money do alot of their trading through ECN's and dark pools. If Soros is buying a million shares he might be doing it 100 share increments over the day from an ECN or taking it down in a couple gulps through a dark pool that no one can...

I looked into them before, most seem to be BS. As they say- if you can't do, teach. If any of these guys could actually trade they would be making money trading, not trying to sell seminars.

There was a deal in place that the market seemed to like and the REPUBLICANS fucked it up, in part because they wanted to give more tax breaks to the corporations. I am not a member of either party was going to vote for McCain and now I think he looks like a complete dousche bag. All that talk...

Still gonna sell or average in and hope for the gap to fill? There is still a chance they give good guidance which might take it back up to 100.

If you are an officer of one of these companies that needs rescuing then you don't deserve a huge (if any!) paycheck. If you think you do deserve it then get yourself out of this mess without tax payer assistance or quit and go find a new job with a company that isn't on the brink.

You don't need to day trade to be a trader. You can make alot of money trading longer term when you have a job and cant be checking the markets all the time. Sometimes the distance is good as it will let you see the forest through the trees. You've been trading for a few years and it sounds...

here's a good thread on starting a fund http://www.elitetrader.com/vb/showthread.php?s=&threadid=118059

I wouldn't call 500-1,000 shares very large amounts....he is just day trading from the looks of it.

If you had the opportunity to go from trading at home to trading for a big hedge fund I would say take it, absoloutley. You might have to deal with having a "boss", but if you go to a real traders hedge fund you will likely have enough capital at your fingertips to be able to trade your way out...

Trading at home is better than working for a prop shop IMHO...as long as you have the capital to fund it. All a prop shop really does is give you leverage and market access, you can get the same market access from IB and if you have enough capital you don't need the huge leverage. As far as...

What is your work experience? I would say unless you were a quant and the MBA was from Harvard you have a 0% chance of getting a job in the next few years. Even in good times you don't walk onto a banks prop desk or into a trading job. Most hedge funds hire trading assistants from the motivated...

Wow, GS almost at 100! This must mean the bottom is getting close. Two weeks ago people were so positive that they were buying Lehman, AIG and Merrill. Now that those guys, who were losing money, are gone, they are tossing out the few banks who are actually managing to make money!