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Cruising

thezster said: "RCL announced lower earnings and cuts her forecast (couple days ago) - as usual, the market overreacted and I picked up 1000 shares at $34.50 (down about $1.30) - sold this morning in pre-market for $35.00... base hit, base hit, base hit..... Order back in at $34.50"

thezster said: "While out making utility arrangements for my new home, I picked up another 500 shares of RCL at $34.35 (she dropped so quickly that my "buy" at $34.5 got executed 0.15 lower - gotta love it) - and am in the green ever since - GAWD - I love this stock......."

thezster said: "Sold those 500 at $34.63 - Yeah, it's only $120.... but I believe she's going to head down again before much longer...... that's day trading - little bit here, little bit there.... sooner or later - it adds up nicely........."

thezster said: "Picked up another 500 again today.... this time at $34.39..... Sure hope she rallies at least one more time.... is this fun, or what?"

Rickster said: "thezster, I have this mental image of you in a speed boat darting out in front of a cruising ship to snatch fish as they jump out of the water in fear of the approaching ship. :p"

thezster said: "[QUOTE=Rickster]thezster, I have this mental image of you in a speed boat darting out in front of a cruising ship to snatch fish as they jump out of the water in fear of the approaching ship. :p[/QUOTE] If it works..... it works... :D would you prefer yours sauteed, fried, or broiled?"

thezster said: "Dumped the last of the RCL one minute before the close - for a minimum profit of less than $50(net). Expect her to drop again on Monday so decided to enter the weekend with only a minimum margin expense..... All in all, not bad - 5 trades (out/in/out/in/out) in one day on the same equity - for Momma's car payment..... I'm happy with it... Squeezed some profits out of my HD today also - expecting the construction spending announcement next week to temper today's enthusiasm - allowing me back in......"

bearNbull said: "Thezster:) I notice you sometimes buy lots of 500 shares. Do you pay less commmsion if it's less than 1000 shares?? I thought buying 1000 shares lots is best to optimize profit. Also, looks like you never short stocks--True?? I read things about how dangerous shorting is, can yo tell me why this is. A trader once told me stocks "go up like an escalator and goes down like an elevator" I think he feels that shorting could give you bigger and faster profits.:rolleyes:"

thezster said: "[QUOTE=bearNbull]Thezster:) I notice you sometimes buy lots of 500 shares. Do you pay less commmsion if it's less than 1000 shares?? I thought buying 1000 shares lots is best to optimize profit. Also, looks like you never short stocks--True?? I read things about how dangerous shorting is, can yo tell me why this is. A trader once told me stocks "go up like an escalator and goes down like an elevator" I think he feels that shorting could give you bigger and faster profits.:rolleyes:[/QUOTE] The confidence in my moves is directly related to the number of shares I purchase at one time. For instance - above - I started out buyiing 1000 shares of RCL - then dropped to 500 in subsequent trades as I wasn't quite as confident of the equity rebounding. I pay the same whether I buy 1 share of 100,000. Typically a 500 share block is about the minimum I feel I can buy and still have a chance to make a buck or two on small intraday spreads. Shorting?? I'm a big fan of shorting stocks and have done it frequently in the past. However - the "downside" of shorting is that there is no limit as to how much you can lose on a play. For instance - If I short 1000 shares of XYZ at $50.00 - and the stock rises - I'm in the red. As with any stock - there is no limit as to how high it can go ($50 - $100 - $1000/share) - which translates into no limit as to how much you can lose. I'm not shorting currently because, in my opinion, the time to short a stock is when it's at it's historical peak - and likely to tumble. Every equity I study/play with is currently at or around it's 52 week low - making shorting a very dangerous proposition. My favorite time to short a stock is when it's near it's yearly high - and comes out with a favorable announcement causing it to rise to new spectacular heights...... That's when I jump in - shorting - because I know (that should be "hope") that the chances are very good it is going to drop back to it's normal levels once the hype wears off."

lb19984 said: "thanks thezster very helpful thread :cool:"

bearNbull said: "[QUOTE=thezster]The confidence in my moves is directly related to the number of shares I purchase at one time. For instance - above - I started out buyiing 1000 shares of RCL - then dropped to 500 in subsequent trades as I wasn't quite as confident of the equity rebounding. I pay the same whether I buy 1 share of 100,000. Typically a 500 share block is about the minimum I feel I can buy and still have a chance to make a buck or two on small intraday spreads. Shorting?? I'm a big fan of shorting stocks and have done it frequently in the past. However - the "downside" of shorting is that there is no limit as to how much you can lose on a play. For instance - If I short 1000 shares of XYZ at $50.00 - and the stock rises - I'm in the red. As with any stock - there is no limit as to how high it can go ($50 - $100 - $1000/share) - which translates into no limit as to how much you can lose. I'm not shorting currently because, in my opinion, the time to short a stock is when it's at it's historical peak - and likely to tumble. Every equity I study/play with is currently at or around it's 52 week low - making shorting a very dangerous proposition. My favorite time to short a stock is when it's near it's yearly high - and comes out with a favorable announcement causing it to rise to new spectacular heights...... That's when I jump in - shorting - because I know (that should be "hope") that the chances are very good it is going to drop back to it's normal levels once the hype wears off.[/QUOTE] I do understand that when you short stocks and it goes against you, the damage could be endless. However; wouldn't you protect yourself to limit your lost, same as longing it?? I mean unloading it when it hit a certain figure."

thezster said: "[QUOTE=bearNbull]I do understand that when you short stocks and it goes against you, the damage could be endless. However; wouldn't you protect yourself to limit your lost, same as longing it?? I mean unloading it when it hit a certain figure.[/QUOTE] Sure, you can put a stop loss on it - a smart trader would do exactly that. I guess the point is that it's "possible" to have endless losses...."

thezster said: "[QUOTE=thezster]Dumped the last of the RCL one minute before the close - for a minimum profit of less than $50(net). Expect her to drop again on Monday so decided to enter the weekend with only a minimum margin expense..... All in all, not bad - 5 trades (out/in/out/in/out) in one day on the same equity - for Momma's car payment..... I'm happy with it... Squeezed some profits out of my HD today also - expecting the construction spending announcement next week to temper today's enthusiasm - allowing me back in......[/QUOTE] Got lucky by getting out on Friday at the close for that piddly profit on the trade. RCL opened down this morning and I picked up another 500 shares at $34.30. Now, if you guys would all just go online and book a vacation cruise I would appreciate it. :p"

thezster said: "Whoops - there we go again. As predicted, HD dropped this morning - wish I had sold a bit more last week. But - picked up another 1000 shares at $34.35 a minute ago... - wishing for the best. I like this stock right now as I believe (hope) she's poised to come back with a slowdown/end in interest rate hikes - which seems a foregone conclusion (though I'm not so sure). Either way - I feel it's a safe move as I believe she's undervalued at 11 - 12X earnings. If necessary - I just reclassify her as a "long term investment" depending on the next fed announcement on interest rates."

Harry said: "Did you ever think of switching to Carnival Cruises? The talking heads seem to be dogging RCL and hyping Carnival Cruises."

thezster said: "[QUOTE=Harry]Did you ever think of switching to Carnival Cruises? The talking heads seem to be dogging RCL and hyping Carnival Cruises.[/QUOTE] As you suggested in one of your prior posts......... As this is the "daytrading forum" - it relates to making $$ off the sentiment of other investors, rather than the intrensic value of a company. When the "talking heads" get together and make a concensus decision - it bodes well for the in n out trader making a buck off of those types of announcements/sentiments. For daytrading purposes - RCL has been outstanding (at least for me) - Carnival would be a great choice for the investor (at least, in this sector). One does not translate into the other in this situation. Wouldn't want to screw up the newbies.... ;)"

thezster said: "[QUOTE=Harry]Did you ever think of switching to Carnival Cruises? The talking heads seem to be dogging RCL and hyping Carnival Cruises.[/QUOTE] Another reason I play RCL is because I started following it in 2003 when she was undervalued at $18 - $20/share. I made a nice piece of change as she smoothly rose to the $30 - $40 range. As I firmly believe in "play what you know" - I stick with her simply because I've known her well for the past 3 years - and that's easier than learning the nuances of another woman (Carnival)......."

mrmoney said: "good buy at 34 :) good luck"

thezster said: "Sold those last 500 for a piddly $27.00 profit - after being "down" on paper almost $500.00 the day before. RCL has the potential to drop into the $33's before it is all said and done.... and today's rebound to get me back into the black - was a welcome relief. Hmmm... $27.00 - less taxes = lunch at McDonalds.... Order back in...."

thezster said: "My prognostication came true - as RCL dumped another 3/4+ points. Glad I was out with my piddly $27 above. I jumped back in and out again early today - and got back to the "car payment" status..... Order back in at $33.40........"

thezster said: "[QUOTE=thezster]My prognostication came true - as RCL dumped another 3/4+ points. Glad I was out with my piddly $27 above. I jumped back in and out again early today - and got back to the "car payment" status..... Order back in at $33.40........[/QUOTE] Just moved into our new house in St. Louis.... what a lot of fun.... With all the "things" that require doing when you move into new digs... it keeps me away from the computer - creating "Patience" by default. Paid off today... my long standing order at $33.40 popped this morning while I was at LOWS buying "stuff" for the house... by the time I got home - she had climbed back up to $33.94 - at which time I dumped her for a tidy sum... (1000 shares) Maintaining a low profile while I get this place in order (amazing what a 85 year old house provides in the way of "chores").... but trying to keep in touch with everyone.... Happy Trading..."

thezster said: "During the morning rally RCL climbed high enough for me to unload almost all my remaining shares for a modest profit. As usual - I put another "buy" in immediately. After lunch it executed - and I'm back in the cruise ship business....... My source of confusion??? She's running in the low $30's at the moment, which is a 12 month "low" for her. Add to this the following: (Adds details) Aug 14 (Reuters) - Credit Suisse on Monday said it cut its price target on Carnival Corp. to $37 from $46. The brokerage also lowered its price target on Royal Caribbean Cruises Ltd. to $27 from $36. Needless to say - I'm a bit confused.... Obviously Credit Suisse is suggesting I short the hell out of this little jewel..... Course, if I followed analyst's suggestions - I'd be losing my A _ _ ..... :eek:"

thezster said: "RCL back up again this morning... Sold all but 300 of my previous "buy" for a modest gain..... and........ you guessed it...... "standing order" to buy is back in again... I might have to take some of my profits from this one.... and take a cruise.;)"