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Post by brosin on Oct 13, 2010 15:30:49 GMT -5
Filling in for Cos although have not heard from him again - I am going to start wondering why this is called Cosmic's Wrap soon  The market has now completely erased the flash crash and all doom the followed. The last time we closed this high was on May 3 when the market closed over spx 1200  The VIX did seem to see a strong reversal to finish the day green after several steep drops in a row. Bulls would want to watch this, especially considering that it is opex week and anything can happen. Bulls are starting to look for tops, and bears are starting to grow less loud although they did give a few signs today that they are still alive. To me, this suggests that while we are close to a top, I don't think we are there yet. Hope everyone made some money today and will do so tomorrow. Members, please post your results along with your RDA of smileys.  |
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Post by ask2lern on Oct 13, 2010 15:42:33 GMT -5
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Post by brosin on Oct 13, 2010 15:46:57 GMT -5
damn sorry about those $116s Ask - I took a 52% loss today as well on my $118s... NOW I know how the other side of the options trades feel.
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Post by benvestor on Oct 13, 2010 15:56:21 GMT -5
Holding some AAPL calls.. from 2.90.. I like to think we are seeing short covering after hours.
interesting tick there a second ago on AAPL.. went to 310..
GL for tomorrow
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Post by cosmic on Oct 13, 2010 16:00:27 GMT -5
i just logged in to do the wrap lol sorry was hanging mini blinds. No trades. I do expect to be around for the poll later. thanks again bros.  |
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Post by tajmahal9898 on Oct 13, 2010 16:58:30 GMT -5
was a relatively busy day...
scalped CENX (shorted it again, bad habits take time to go...) for nice 23 cents..
closed ATEC position, had to break 50K position into 15 trades.. lack of liquidity in the stock..took a loss of 13K
short 300 SDS Oct 28 puts scared me for a while (up to 80% loss) but now I am very close to my b/e price of 27.67..
was monitoring MGM but no guts to play this one.. canceled orders many time during the day...
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Post by timber on Oct 13, 2010 17:10:58 GMT -5
scalped eslr and shorte slv as a hedge here
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Post by sloop on Oct 13, 2010 17:18:05 GMT -5
holding LOCM and FAS
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Post by benvestor on Oct 13, 2010 17:36:05 GMT -5
was a relatively busy day... scalped CENX (shorted it again, bad habits take time to go...) for nice 23 cents.. closed ATEC position, had to break 50K position into 15 trades.. lack of liquidity in the stock..took a loss of 13K short 300 SDS Oct 28 puts scared me for a while (up to 80% loss) but now I am very close to my b/e price of 27.67.. was monitoring MGM but no guts to play this one.. canceled orders many time during the day... MGM was 1st on my list for puts today.. my gut told me get in.. but seeing it float about even for an hour turned me off.. damn puts went and doubled intra day, then another sweat call scalp at the end .. I am going to post my spec ideas to see if others are thinking the same.. we coulda made bank! ok enough with the coulda woulda talk.. |
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Post by ccash04 on Oct 13, 2010 17:45:50 GMT -5
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Post by exabi on Oct 13, 2010 18:16:38 GMT -5
The LVS giveth and taketh away...sold my LVS 36 puts at a big loss, small net loss on my LVS options trades over the last couple of weeks. Had I just held my OCT 35 Calls, would have been up about 300%.  |
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Post by Rich on Oct 13, 2010 18:59:33 GMT -5
I bought a bit o' faz and tza.
Will add on strength.
Or abandon ship on weakness.
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Post by jack on Oct 13, 2010 19:36:17 GMT -5
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Post by timber on Oct 13, 2010 19:41:57 GMT -5
that chart looks pretty healthy jack....
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Post by jack on Oct 13, 2010 19:49:44 GMT -5
Yer looking at a prospective double from here in 5-6mos Timber imo.
They struck the motherload in Colombia vying with the largest goldmine's reserves in North America. Just a matter of time before they get bought out by a major miner.
;D
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Post by brosin on Oct 13, 2010 21:41:22 GMT -5
Real life was great ;D FFR was level .18%. My IRA is now up more than a % in 2010 - 2 days ago it went green for 1st time... quite a strong move recently from the red depths. FAS had a good day and has a move to $24-25 in the cards. That was where my strategy was to consider where the market was at and maybe sell half. I am undecided at this point. If it came tomorrow, I would have to wonder if perhaps it is time to lighten up.. Monopoly world was *not* so good Big Cap - spreadsheets.google.com/ccc?key=0Ah0555lud0TEdE5vaVh0bmFoWl9OcGtOVmRjUjFwYmc&authkey=COSk6LQE&hl=en#gid=0-1.7%, mainly my CHK long and SOL short that hurt quite a bit. No moves... 27% short, 30% cash, and 43% long (perhaps I got a little too defensive too quickly this week?) Scalp trades - not a great day... -3% on the day -day traded CHK $23.20, sold some $23.40, bought a little more $23.35, holding into tomorrow -avg'd down FAZ from yesterday $12.21/$11.93, then sold for loss midday $11.86 / -1.7% -bought FAS $23.85, put stop on it $23.56 as I had to miss the last hour of action. Stop hit so I am out of it for tomorrow right now. -1.2% on that one Options Account is where I took the biggest hit. -SPY $118 oct puts got hit hard, I averaged down once $.62 (held from $1.50 overnight) and then sold for 52% loss in the afternoon $.46 as I didn't think the market was going to go down. Was a pretty big position too. -opened some SPY $118 oct calls $.88 at that time though, which should do well tomorrow on another strong upmove. So we will see what happens there. Found out what the other side of the options trade (and the trapped part) feels like...  |
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