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Post by cosmic on Oct 25, 2010 16:04:18 GMT -5
sorry this is a lite late actually dozed off for a bit. missed the close. I covered some FAZ short today at 12.42. no other trades. 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 timber on Oct 25, 2010 16:16:24 GMT -5
wow bidu calls are great
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Post by Rothschild on Oct 25, 2010 16:35:22 GMT -5
No trades today. Bought a basket of short plays for Tuesday Drv, Faz, Tza for a quick scalp (I hope they dont scalp me LOL). We do have a POMO scheduled for Tuesday so it likely wont tank too hard. Lots of distrubution today. Cosmic, what a wonderful FAZ short you had. from 20 to 12. Man, many congratulations Cos. Exalt! Hope everyone made a bundle today and will continue to do so  |
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Post by cosmic on Oct 25, 2010 16:46:09 GMT -5
I tend to want to instinctively short any major upward movement in FAZ. If we do get one more thrust, it will most likely not surpass 16, and if it does, by only a bit.
Nevertheless, I'll start adding at 15
It's the only way to be short ;D
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Post by actuarynomore on Oct 25, 2010 17:08:50 GMT -5
No sarcasm in this post (versus Friday's post)...
Even though I didn't make my $500 daily profit target, I was very happy with what I did get done.
During pre-market, I sold 500 FAS at $23.15 (AP $22.43) and bought 500 FAZ at $12.09. Late morning, I bought the 500 FAS back at $22.40. Still holding 1,000 FAS and 3,000 FAZ shares to either sell at profit or buy more to average down.
Wishing everyone else the best and looking forward to rubbing elbows tomorrow - Dave
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Post by cosmic on Oct 25, 2010 17:10:37 GMT -5
I'm watching closely your strategy here Dave, find it interesting holding both long. I've on occasion held both short.
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Post by demanuel2001 on Oct 25, 2010 17:19:29 GMT -5
Did some unsuccessful scalping in LVS - also did some reshaping of my short NOV LVS put and call exposure - overall +$6K for the day.
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Post by actuarynomore on Oct 25, 2010 17:29:51 GMT -5
Thanks Cos
I started this FAS/FAZ long holding on 9/30 and have averaged a little under $400 a day - At times holding 0 shares of 1 or the other and the market always seems to come back where I need it to to justify buying back in. My sentiment is becoming more and more bearish and as a result, I am carrying more FAZ exposure.
I don't know when/if we will ever experience what we did feb-april of '09 but until we do, I feel safe doing this arbitrage trade especially if FAS takes a dive.
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Post by brosin on Oct 25, 2010 19:13:46 GMT -5
Real LifeFFR was level - still at .19% and in bullish "all clear" territory. I highly expect it to drop a little starting this week *if the market is going to top at FOMC* as I expect. FAS continues to lag. I continue to wait and hold. Monopoly World tracked in the blog - very uneventful day Big Cap - took another pretty big hit today -3.3% thanks mainly to CRUS and CHK no moves 78% long, 22% short still... Scalp trades, no moves -.8% on the day, holding unrealized CHK -4.3% and FAS -1.3% Options account +2.7% on the day only two trades -day traded SPY $117 weekly calls $2.18 to $2.50 for 14.6% -rebought same calls at $2.03 near EOD and holding overnight
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Post by Rich on Oct 25, 2010 19:21:59 GMT -5
If fas runs up close to 23, I would sell it Bros. That seems to be 'the rejection zone' for the moment. Especially if you believe we will pull back.
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Post by brosin on Oct 25, 2010 19:41:21 GMT -5
I wonder if that's the trick though. The market rose but financials didn't. Will the opposite happen now before the market goes into historic breakout(tm) mode?
How much more can BAC drop? If any sector has the complete backing of the fed, is is the Fins.
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Post by timber on Oct 25, 2010 19:45:39 GMT -5
dont rule out the super rally....we are not in a normal market here....people are sick of less than one percent returns in money market funds
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Post by Rich on Oct 25, 2010 19:52:20 GMT -5
Everything I've looked at in the last 20 minutes looks bullish.
dammit!
I wish I could say otherwise. Of course the double tops are staring us in the face. I'm not placing much importance on that. IYR has already gone past it's spring plateau, SPX, NASD, IWM just below.
Rifin is it's own animal and has lagged as we all know. Now does it catch up to the others or do they come down to it....or do they never meet?
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Post by Rich on Oct 25, 2010 20:00:00 GMT -5
dont rule out the super rally....we are not in a normal market here....people are sick of less than one percent returns in money market funds That's why it's safer to call bull everyday, because you don't know where the turn comes. Once we get to the intra-day and start trading, it's another ballgame. You can't tell weather to long or short once the initial gap move becomes apparent. It's a guessing game. |
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Post by benvestor on Oct 26, 2010 0:54:07 GMT -5
Took a minor loss on selling my AAPL calls.. did not make it up for the pop in the morning i figured would happen.. I am just too busy to run a good strategy it seems. Been taking some bad beats, so going to lay low for a little while again. --save my last few pennies for a few things I think look sure and also wait out the fed and elections..need a little head clearing time and to make sure i still can make money doing this.. be back soon
GL everyone!
oh yah and thx for the karma, whoever is doing that!
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