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Post by cosmic on Jan 31, 2011 16:40:17 GMT -5
I don't know. Good job on flushing market doomers who bought put protection on Friday. They never got a chance to win with a gap up and then mild grind up all day. Those positions were eroded quite nicely.  I don't buy it. It's a trick. I'm not short but not buying this dip. If the market was cool with Egypt+overbought we would have been 200+ today. Just my opinion. No trades but watching SQNMM closely to sell more calls.  Hope everyone made some money today and will do so tomorrow. Members, please post your results along with your RDA of new and improved smileys!  |
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Post by Rich on Jan 31, 2011 16:47:40 GMT -5
no trades.
We put in a green candle but not a huge one.
According to Poorhomey prophesy one more green candle, smallish in nature, and then...look out.
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Post by brosin on Jan 31, 2011 16:54:49 GMT -5
I don't buy it. It's a trick. I'm not short but not buying this dip. If the market was cool with Egypt+overbought we would have been 200+ today. Nail on the head. Only thing I would say different is that I am (very) short. |
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Post by demanuel2001 on Jan 31, 2011 16:56:11 GMT -5
A weekend of worrying got rewarded today. Made back most of Friday's losses - but still missing a few hubcaps on the pimpmobile. I got assigned on some short $46 LVS puts over the weekend (and got a margin call) - sold those shares back at a shade above $46 - so the premium was basically free. Mainly sat on the sidelines for the rest of the day. I did open a position in Nintendo (NTDOY) and I doubled down on my BPZ position which is going like gangbusters. Oh and I bought a few Massey shares at $63 - showing a loss but I figure I'll make a couple of books soon enough. Up about 1.5% for the day. Closed out the month +3.74% and of course the same for YTD. I hear all the warnings about the slippery slope and instability in the Middle East. Still the Middle East thing could go other way - places like Syria might be forced into democracy and that should be a net plus.
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Post by actuarynomore on Jan 31, 2011 17:43:43 GMT -5
According to Poorhomey prophesy one more green candle, smallish in nature, and then...look out. No trades as well and to add to what Rich said (hope I don't jinx things), if the infamous PH Chart Prophecy holds true, when as with the SPX daily chart on 4/28: * All of the MAs (10, 50, 100 and 200) were perfectly aligned with the SPX sitting below the 10 * The MACDs are virtually the same * The Slow Stochs are virtually the same that 1 remaining green candle might result in a re-test of 1302 tomorrow followed by 3 or 4 days of tug-o-war eclipsed by a 10%+ drop in the SPX!!!    |
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Post by exabi on Jan 31, 2011 18:52:59 GMT -5
No trades, holding PCX into earnings tomorrow, (which I may regret)....waffled about selling today or selling the Feb 28 Calls covered, did neither.
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Post by tajmahal9898 on Jan 31, 2011 21:32:33 GMT -5
just catching up.. was out most of the afternoon..
no trades..accumulated additional paper loss thanks to Cramer..
MU was soooo close to my b/e price of 10.22.. LOD was 10.25.. now I am 40 cents away from my b/e price.. it would be difficult to get 40 cents in one trade -- will have to break it into 3 trades of 13 cents each.. This will be the exercise for this week.. Have to b/e this week and free up the money.. opportunity cost is huge..
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Post by kbk3ck on Jan 31, 2011 22:32:13 GMT -5
Sold my TNA 280 shares for a little profit. Sitting all cash and try'en to figure out whats next.
Up? Down? Buy ? Sell? Who knows.
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Post by brosin on Jan 31, 2011 22:38:20 GMT -5
FFR was level at .17% - this was a good sign for the bulls, there's no denying that. We will see what tomorrow brings - I really think this needs to move higher if we are to trust the equity market. My FAZ re-lost some monopoly world Big Cap [/url] - after a very strong Friday, I obviously gave some back today. But at least I didn't give up more than I gained! Acct was down -5.5% on the day, a few moves: Buys: (to cover all) STEC @ $20.29, $20.40, $20.43 for +2.9% on a 3x short position (to cover all) SLW @ $30.63 / +.6% (wanted to get long at EOD but didn't have the buying power) Shorts: (add) PCX @ $26.75, now 3x short position avg $25.93 unrealized -.9% (add) CHK @ $28.46, now 2.5x short position avg $27.88 unrealized -5.9% I remain 0% long, 100% short - even having closed some positions, still ended up with a small margin call at EOD scalp trades no moves, acct -3.6%... i'm still waiting... i'm still waiting All in all, accounts were down -5.1% on the day |
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