Cramers Take on AIG

Jim said this on Oct 15th...

Jim Cramer's 'Stop Trading!': Avoid AIG

"We are so on the hook to AIG," said Jim Cramer on Wednesday's "Stop Trading!" segment on CNBC. "That will prove to be an unbelievable black hole that will last forever. I don't know what was worse -- taking them over, or letting Lehman fail."

As for buying AIG shares, Cramer was confident. "In no uncertain terms, that will never pay off," he said. He said he was seeing opportunities in the market as we pull back, but "AIG is not one of them."


Well Jim only time will tell whether this was a good buy or not....we'll see!

New trades

Hey its been a while since I have made an entry. I have some trades I have over the past months. But just recently I have bought several 100 shares of C and AIG. With all the news and bashing of pretty much all stocks these two stood out to me. These two will survive and bounce back. The countries larges insurer and one of the last standing large banks will not be going under. So jump in if you dare before they go up to much and you so say I wish I had....

till next time

**p.s - trade or invest at your own risk, if you do decide to trade or invest you should do so only with money you can afford to lose**

Update 3-18-08

It's been a while since I've posted. These first few months in 08 have been horrible!!! I have lost a total of 28K!! Yup that's right, 28 F-ing K...most of which took place in Jan. I had a nice gain in one trade but I was in NYC on that particular Friday and when I came back to sell on Monday it had taken the elevator straight down on the open!


But hey, every success story I have ever heard started off with "I lost it all".

So I guess I am on the right track to the millionaires club.

Jan '08' trades so far....

Its been a while since my last post. It been really crazy lately. I have made about 8 trades maybe, a few winners and a few losers. I am currently "trapped" in a 2 losers now which have me down about 9k. This really upsets me, I have been thinking of quiting all together. It is so F-ing frustrating when a stock gets murdered just cause some idiot comes out and says something stupid (the fed). I feel that AAPL and MA (and me) are being wrongfully taken to the wood shed.

MasterCard Inc (MA) 12-21-07 Trade

MA has been very volatile lately. It makes for some nice potential gains. I bought the same DEC call today as I did yesterday. I bought around 10:30 and sold a few minutes later for a 100% gain.

MasterCard Inc (MA) 12-20-07 Trade

I bought some 210 DEC calls on the dip around 10:30. I sold them a few minutes later. I then bought them back at the end of the day nad sold them a few minutes later for a total of a 32% profit.

Apple Inc. (AAPL) 12-07-07 Trade

AAPL is near its all time high. I felt a pull back, so this morning I bought some DEC 190 PUTS. I sold them about 15 minutes later for a 7% profit. This went as I thought it would. Down on the open, then bounce by 10:30ish. It bounced around 10...and now at 3:15 it is WAY UP past it's all time high!!!

Apple Inc. (AAPL) 12-4-07 Trade

Post I missed...I bought some DEC 180 PUTS on 12-4. I thought it would take a bigger breather than it did. It didn't, it went up. I got out of this trade for a loss of 27%. What I should have done, (but wasn't thinking clearly (cause I just made over 5k on the last trade) was, buy these PUTS on the 30th and road it down for 2 days. #$!%

Apple Inc. (AAPL) 11-22-07 Trade

Forgot to post this one...I bought some DEC 180 calls on the 21st or 22nd. I doubled up when my options took a 1.00 dip. I set my target price for 100%, well today 11-29 it hit my target. So I sold half, then let the other half run. I sold the other half today too, .60 cents above when I sold the first half. I was going to let the second half run and play with the houses money, but I felt I was breaking one of many rules that I follow: DON'T BE A PIG! This trade made a nice 116% profit.

Select Sector SPDR-Financial (XLF) 11-14-07 Trade

The financials have been getting dumped on. So with Wednesdays pop in most of the financial stocks I bought some puts on the XLF etf. The XLF follows the financial stocks. I bought some March 08 33 puts. So far so good...the XLF has been down the last two days.

11-20 : I sold my PUTS this morning. The financials have been getting annihilated, this trade has been steadily going in my favor. So you ask ...why did you sell then? This is why...when something looks so good, and seems that the ride will never end. That's when you sell. Because it will turn on you, and when it does it will turn FAST. Always sell into strength! Do I think it will go down more(remember this is a PUT trade, I want the XLF go down)....yes, some.....but.....PIGS GET SLAUGHTERED!

This trade made a 61% gain.