I'm LONG on SKF

[chux03]

Or as LONG as you'd dare to be. I bought 25 shares the other day when it was hanging around $94 and then yesterday I saw it dip even lower than that and bought another 25 shares, to bring my average share price to $92. I was over at www.seekingalpha.com and see that they've had several write-ups about SKF lately all saying the same thing and that is to BUY SKF under $105. Here's a link:

http://seekingalpha.com/article/128006-u-s-markets-future-i-think

Here's another:

http://seekingalpha.com/article/127942-canadian-energy-trusts-the-best-long-term-income-and-dollar-hedge

You know honestly? I have followed this stock for several months, not because I wanted to...."invest" but because it's VERY ACTIVE with HUGE SWINGS and it's one to watch just for the....ACTION. On the other hand, when it's near it's 52 week LOW (like now) and there's more problems on the way for the banks (imho) buying SKF under such a scenario is HARDLY loaded with RISK as much as it's an opportunity to profit from a SHORT on the entities that DESERVE IT THE MOST and that's the banks. Anyway, that's how I'm playing this one right now. I'll let you know how I do....

[blox87]

What are your thoughts about FAZ/fas?? Ive been playin around with it for the past couple weeks. SKF seems a bit more safe than faz since it isn't 3x leverage...

I've been trying to time daily swings on faz but might just buy and hold since it is at a very low point. But at the same time there is talk of how these stocks have a decay factor if you hold them too long.

[sliver]

Or as LONG as you'd dare to be. I bought 25 shares the other day when it was hanging around $94 and then yesterday I saw it dip even lower than that and bought another 25 shares, to bring my average share price to $92. I was over at www.seekingalpha.com and see that they've had several write-ups about SKF lately all saying the same thing and that is to BUY SKF under $105. .

Kind of risky Chux to buy on the way down. Most financial advisers recommend waiting until it starts back up a little. You monitor pretty closely I see, so you could catch it pretty quickly when it changes course. You won't hit a perfect bottom unless you get pretty lucky, and the same goes for the top.
I didn't follow my own advice and bought a stock at $20. It went to $15 so I bought a little more to lower the average. I didn't put a stop on it and now it's about $4. If you are using a stop you are probably o.k.
Sliver

[chux03]

Oh I have no desire to stick around long enough into this one to ever see a top. This is a SHORT TERM deal. To be truthful, I first put in my money and then I found the comments over at www.seekingalpha.com and then was watching while it dropped again and thought, now's the time to hit it again. You mean, that's NOT how it's.....done?? And I agree, who knows where the bottom is? On the other hand, this one hasn't been below $89 HARDLY EVER since December of 2007 as well as it started life in the mid 60 dollar range before that. IF you remember what you're....playing with here, SKF which rises when the financials fall, AND REALIZE that it has spent the majority of that time ABOVE that $89 SINCE then, most likely due to problems with the financials, and while I HATE to predict anything but after looking at ALL of this, I'm willing to take my chances with that 5 grand worth of SKF....that does seem to be in an UP trend. We'll see. The goal with EVERY trade is to make some money. And every time I've sold lately, I've managed to pull that off.

And, because I have a margin account at my brokerage, I'm able to trade in and out of these and have the $$ credited to my account immediately. I use NO MARGIN for buying shares, ARE YOU NUTS?? But I do use the margin account for it's trading aspects and being able to get and use the funds....quickly. SKF would be a drag to try and trade in and out of with a regular cash account where you had to wait 3 days for the account to be reconciled. I wouldn't even try that...

FAZ, that was one of mainevent's picks I think. I haven't really looked at that one. But put in that symbol over at www.seekingalpha.com on their home page and I'm sure you'll have some reading there. Good luck!!

[sliver]

You have been following it and the history, and that is a strong point.
And you aren't betting the farm on it and you are having a little fun.
I have very little to play with, but I usually have at least one that I think is cheap and will do well. Some might think I'm gambling but I keep it small and have a little fun too. I think the odds are better than a casino. Sure is fun when you are right!
Sliver

[chux03]

"Sure is fun when you are right!"

I agree!! :D And the more you know, the better the odds. MUCH better than a casino and if the casino's around your place are like they are here around mine, it's TRIBAL CASINOS and that's a....tax I don't pay because I don't....gamble. Providing you've done your homework, the odds are in your favor I believe and are MUCH BETTER than playing in a casino. And it's the opposite when it's the other way though I've only had one stock go kaput and that was Torrent Energy (TREN) and even at that, the loss was less than $2000. Big winners?? Even fewer of them though I've had several....smaller victories. Enough to make a few bucks and keep it interesting enough to try and learn more and keep that cycle going.

Instead of buying any new stocks for awhile, I just sprung for a new newsletter subscription, Graceland Updates and hope I find that as interesting as his articles that appear there in www.321gold.com frequently. I'm looking forward to my ongoing....market education from a great writer/teacher. :)

www.gracelandupdates.com

[chux03]

SKF finished UP $15+ today (+15.83%) and IF I would have cashed out, I would have made $20 shy of $800 for 3 days of holding this stock. After reading the news and seeing what's in store for later in the week in regards to the banks sinking lower yet, I've decided to let this one ride....for the time being. I have a....hunch that this one isn't done going up just right yet (or is it the banks going down?....I forget :D ), though I'm making NO PREDICTIONS other than this stock is EXTREMELY volatile and the price it finishes up the day at is by no means indicative of what it may do tomorrow or at any other time. Huh! Are you kidding?? I GUARANTEE this one will be one of your MOST ACTIVE STOCKS by price swings either in your watch list or portfolio.

Gee....this IS fun!! :)

[tarponking62]

I boughta call spread today, Bought April 105 and sold 125 for net $5 each on two contracts. First time ever dealing with SKF, if financials go bullish this week I'll buy back the 125.

[blox87]

Bought a few call options for 25 dollar faz for april 17....I'm now regretting this move. Unemployment numbers may boost skf and faz but damn im feeling pretty uneasy right now since the financial are taking off due to this BS market to market rule change.Seems like no one understand that they are just dressing up the books to make it look like these toxic assets aren't nearly as bad. I wonder how giehtners (sp?)plan will play out now that the Market to market rule is changed. Why would anyone want to invest in a something that they know is dressed up in a higher value. :confused:

[m.palmer1@verizon.net]

What is the short term sale tax consequence of SKF on a % basis?

[chux03]

It's no more or less than any other stock. I JUST learned about how they tax these investments and in my case which is probably typical, they just keep track of your sales. Then you have to keep track of your purchases so when you do your taxes you can show either a profit or loss on each sale. SKF would be the same....

It's down this morning to $87 something so I bought a few more shares bringing down my average price to $90 something. I have noticed that when my PM shares went down these past few days since owning SKF, the SKF was up somewhat. It has been doing the opposite of the PM shares so it's been kind of nice to see something in my portfolio up when everything else was down somewhat. It's just an anecdotal observation and I'm sure that isn't totally true all the time. Anyway, when it past or near it's 52 week LOW I thought it to be worth having a few shares of this. And even though it's down a bit today, I still think so....

Good luck!

[hiyosilver]

Is there anyway I can contact you privately? I really would like to ask you some questions about this particular stock and a couple of others. Thanks

[chux03]

chux03@myway.com

Give me a heads up here as I don't really monitor that account too much.

I don't know why I can't do a private message.....but that will work O.K.

[hiyosilver]

chux03@myway.com

Give me a heads up here as I don't really monitor that account too much.

I don't know why I can't do a private message.....but that will work O.K.



Sent..........

[chux03]

Well, let's see.....I'm STILL long on a few shares of the SKF though I did recently (4/21) sell 10 shares at $75.96 for a 21.6% profit. I have 85 shares currently, held at an average price of UNDER $80. I have read a couple of articles over at www.seekingalpha.com that the luster could be falling off the banks and financials and that COULD be starting THIS COMING WEEK. While I have been buying shares here as it's been going down, once this thing turns around it can be very active and volatile. The point being that I have my planned SELL POINTS for this one and that will start soon as we see $90 per share. I HAVE BEEN MOST PATIENT WITH THIS ONE and now that the banks/financials seem to be in line to get WHAT THEY REALLY, REALLY DESERVE, I may buy even more. Anyway, that's a BIG FAT SHORT and the BEST way to do that in this market is through the judicious and careful use of SKF. And that's EXACTLY my plan. I'll let you know how I do.....