Cosmic's MarketPlace Wrap - 10/14/2010

[cosmic]

Hmmmm... I'm starting to wonder if this could lead to a pullback of a few percent. It's opex, so it's impossible to be sure.

I have a pivot around 1132, I don't think under any circumstances we'll see that by tomorrow. But I do think we will see 1132 very soon. I have another pivot around 1120, so we'll have to see how the math will play out.

No trades today.

Hope everyone made some money today and will do so tomorrow. Members, please post your results along with your RDA of smileys!

[demanuel2001]

Logging in from the Queen Mary 2. No trades today or yesterday. Overall been pretty flat this week - minor ups and downs but nothing you'd noticed. Oh - I did sell the MGM $13 puts that I bought last week for a small profit.

[tajmahal9898]

feeling foolish for selling ATEC on loss yesterday. it was up 10% today.. would have at least b/e..

Closed SDS puts for a nice profit..
Sold Oct 22 APPL put 300/290 vertical.. 100 contracts.. i.e. sell 300 puts, bot 290 puts..

[snapplemoney]

20 spy 118 oct put trades all profitable

[Clinton SPX]

Long IWM

[ask2lern]

Typical Opex shenanigans IMO...................I traded SPY options Puts and calls most trades are posted in the PPDT all profitable ..................also opened a SPY NOV 117 PUT position just after close.....................gotta love those machines.............Exalt for Cos.......................Live to trade another day................GLTA

[Rich]

bought tna.....YES!

[timber]

one prwt trade.....added to my F and short ung.....i dont care if ung gos up 50 percent its still a pos

[torrentio1]

Oct 14, 2010 15:48:18 GMT -5 timber said:

added to my F...

I have not updated Ford chart thread in a while; however, have been watching... She is going nicely... Big picture:



Uploaded with ImageShack.us

Another breakout to new levels coming? I think so...

[bellevuetrader]

Hey....who let Cos out to play?!?

[benvestor]

Sold AAPl calls with a small loss, held past the morning run, and dint sell when i should have sold and moved on into better things.. IE PCLN and GOOG..

Ah.. always could be better or worse.. just gotta be happy its not worse! I am sleep deprived tho

Congrats to all GOOG players..

I do hold one AAPL call still.. wohooo

And cash for tomorrows rally.. or a dump.. but really folks this market has momentum up not down and one day of a slight retrace aint changing crap.. look at the earnings!

GL for tomorrow

[brosin]

Real Life

FFR was level @ .18% (VERY interested to see what it does overnight ), my FAS took one on the chin. Still waiting for $24-25 when I will need to make a decision.


Monopoly World, 2 days in a row of not such great moves

Big Cap -1.2% on the day, couple moves (now very little cash):

-shorted more SOL $14.97 (3 pulls now)
-bought BAC $12.61 & WFC $24.52
-shorted some PCLN @ $349.10

*now 42% short, 5% cash, 53% long*


Scalp Trades -4.8% today

-sold my CHK for -.4% / -$2000
-bought FAS @ $23 & $22.56, holding unrealized -1.4%


Options Trades - quite red here
bought some more SPY $118 calls (yesterday had bought 2000 @ $.88), 2000 @ .32 & 2000 @ .25. Felt very dumb but now with GOOG news, looking much more promising. After yesterday's 52% realized loss on the $118 puts, I'd rather not get crushed on both sides of the $118s - avg currently $.48

[Rothschild]

Bought and sold financials and lost about 4% today. Felt Goog was gonna spark a rally and bought me some Fas and Tna. Hoping to ride the bull into 1250s. After that Ill wait and see. Cos, ya think 1132s eh??? Id love it if it played out. after nov. elections is probably the time imo.

Hope everyone made a bundle and will so ad infinitum

[jack]

I got murdered by my C today

Funeral arrangements to be announced later.

[ccash04]

Continue to be very long FCX.

GOOG put gamble seems to have not paid off did not pay off but only $20. This is unless they release a 'just kidding' press report on their numbers and adjust it to a loss of $7 a share by tomorrow morning

[novice08]

Holding the miners, but only up about 1%, mainly due to small smv position.

[exabi]

No trades, waffled on the GOOG gamble, hi premium straddle on the OCT 16 exp, or wide strangle on the same....both would have been profitable. Fotalias a bit tender at the moment, did neither.

[jn1520]

Picked up 45 shares of GOOG at $539 and feeling good after posting a dud with ALKS.

Holding a small position of AVNR, hoping for a pop soon.

[kbk3ck]

My 2 holdings SOXL and TYH took minor losses today of -.82% and -.11% respectivly. Then in AH they both came up 3%. YeeeHiii!!!

[jack]

Oct 14, 2010 18:03:44 GMT -5 jack said:

I got murdered by my C today

Funeral arrangements to be announced later.

But ALL was not lost:

I had a good report from my dentist today...

"Look Ma...NO CAVITIES!!!"

lol!!!

[kbk3ck]

Are you still holding C Jack?

[actuarynomore]

For the first time, I scalped 1,500 shares of FAZ at $12.72 for a nice profit and turned around and bought 500 shares of FAS at $22.20 which I will sell if we run back up to mid-23's or average down if we descend.

Question for the real trade guys (girls) - As a swing trader (which is what I believe I am) - Is buying FAZ basically the same as shorting FAS and regardless, what do I need to think about to short FAS or FAZ?

Thoughts would truly be appreciated - Thanks

[Rich]

It is always better to short either one, making decay your friend.

[hammondkeys]

Somehow, with no short positions at all, I ended up about 1% overall for the day. I sold DRWI yesterday for 1.10 gain. Bought TNA yesterday at 52.80. Holding QUIK (about 4.20 average), TWER (even), NLST (3.11), PZG (1.42), PMI (over 5... patience), MPG (over 4... more patience), DRN (48.50), and FAS (21.20).

I am looking for the S&P to hit the 1240-1250 range. That should put FAS between 28-30, DRN in the 70's and TNA in the mid-high 60's.

Watching NLST for a potential strong run on the late day action. PMI continues to be the one stock that I think has the most long term potential. It has been quite volatile but if it breaks the little inverse head and shoulders of the last few months then it will also break the large iH&S. That should set it up for a run to double digits a la LVS.

Oh, holding some SIRI. Looking for .10 - .15 more out of it.

Got the website up and running. About 150 unique hits today. My goal is a thousand a month from now. Ads are getting some clicks too. Even if it just offsets my Adwords expenses (for the photography site) it will be worth it. I appreciate the visits from here. I also post on YMB. They may ban me eventually - not sure what their policy is. I don't care. I'll do it until they make me find a way around it.

[PoorHomey]

Oct 14, 2010 22:05:30 GMT -5 actuarynomore said:

Question for the real trade guys (girls) - As a swing trader (which is what I believe I am) - Is buying FAZ basically the same as shorting FAS and regardless, what do I need to think about to short FAS or FAZ?

I am in no way a "real" trade guy (or girl), but I'd say buying FAZ is in no way the same as shorting FAS.

On an intraday basis it probably doesn't matter much, but for a "swing trade" shorting one or the other (FAS/FAZ) might be preferable due to decay working in your favor.

As to things to consider / thinking about in regards to shorting FAS or FAZ, these would be my guesses:

1) Availability of shares to short
2) Margin requirements for carrying short positions.
3) There is always the possibility that the shares can be called back at an inopportune time. This actually happened to me once when I was short TNA, and it sucked.

[sloop]

I am now the proud owner of 50K shares of LOCM at a cost average of 4.42 cents

[cosmic]

I always hold FAZ short. To compensate for a playable pullback I would play FAZ calls or FAS puts against the FAZ position.

I am holding FAZ short at 19.50.

[actuarynomore]

Thanks all for the input/thoughts above - It's obvious I have some homework to do before I come back with any questions - Much appreciated - Dave