Cosmic's MarketPlace Wrap - 11/03/2010

[cosmic]

When I last checked the market we were down about 25 on the Dow, and thought for sure we'd see more selling.

I didn't watch much of the action today so I'm not sure what the turnaround was about. I certainly expected post-election day market jitters. I still think we will.

No trades.

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

[demanuel2001]

Just your typical +$10k day today. Did my usual circular scalping and option writing in LVS. Also bought some MGM puts (after it went up) - don't believe the nongenarian has got the right stuff any more. That was about it.

[brosin]

Real Life[/u]

FOMC meeting has come and gone, and (SURPRISE!) we got a new market high today. The next meeting is 12/14 so bears might have to wait a good 6 more weeks Don't shoot the messenger

FFR was level at .20% - it has yet to show a sign of a top, and the market has obliged.

My FAS did very well to my eye, and I'm pretty happy with it. Looked at BAC, V, MON, TGB, and MVIS in my IRA... did nothing yet.


Monopoly World / Entries tracked in blog[/u] - fairly light day but it was still a good one

Big Cap - +1.3% on the day

Only 1 move, added to my CRUS EOD @ $12.87, now 5x long position / unrealized 6%.

(Sorry Taj did not make this move in the new portfolio I opened up - didn't have a chance to get all my orders on there, I'll have to open up all 8 of my positions so that the tracking will be the same)

Went slightly more long from 62% long to 67% long...


Scalp Trades - *finally!!!!* I am free of 1 of the 2 "scalps" that I got stuck in. Acct +5.2% on the day and hit a new high (+46.8%) since my 9/7/10 inception

-Sold my CHK $22.26 for .6%, still holding my FAS, unrealized 1.1% on it (I was way down on both of these and luckily just waited); not the strategy, but green is green.


Options Acct hit a new high as well today (+84.5 overall), +20% on the day

-Day traded SPY $119 calls, entries 1.21, 1.16, 1.17, .80, .70, exits 1.22, 1.28, 1.27, 1.23, 1.26 (+25% on the trade); ** still holding 100 contracts unrealized 25% gain, goofed up and only closed out 1000 of my 1100 positions even though I had meant to close them all.


All in all, accounts +4.4% on the day. The 2 smaller accounts are at new highs, while the big cap account is about 4-5% off its high.

[Rothschild]

No trades today; I really stink on fed days so I decided to maintain an all cash position. As expected, we had plenty of whipsaws to skrew the market participants over. Now, I am thinking about buying some bear 3x etfs in the AH.

Hope everyone did well today and will do so ad infinitum.

[actuarynomore]

Wowee-Kazowee – Was that fun for someone who scalps FAS/FAZ!!!

Started the day thinking Market would tank by EOD and bought 500 FAZ at $12.36 and $12.44.

Then when Market went skitzoid, I put in a WAG limit order to sell 500 FAS at $22.80 which hit when the first spike hit $22.82 - Put a buy 500 FAS at $22.20 which hit 10 minutes later which I sold 20 minutes later at $22.75 and then sold my remaining 500 FAS at $22.99.

I ended up buying 2 more lots of 500 FAZ at $12.265 and $12.15.

In all I netted $960 scalping today – I am now void of FAS and holding 4,000 FAZ (AP $12.3365) – Guess what I am hoping for tomorrow but will continue to average down if we don’t get it.

I hope Maxi’s special day continues into the evening and I look forward to rubbing elbows tomorrow - Dave

[kbk3ck]

Great job Dave.
I watched my TYH open down then go up then go waaay down then waaay up. Still holding.

[actuarynomore]

Thanks Joe - My focus was so myopic today I really didn't notice what was going on elsewhere - Wow - TYH just as volatile today but continually up for the last 10 days - Hope yer ridin' her up - Good luck

[kbk3ck]

Yep Dave, im riding it and TNA up and selling and buying back. Playing 2 so I dont hit the day trade limits. Hope they dont outlaw that now. LOL.