Cosmic's MarketPlace Wrap - 11/10/2010

[cosmic]

Well, Dow closed red as did the vix. Cobra has a whole chapter on that one. Historically that mix means a more volatile day the next day. I suspect we continue down a little more. Can't really say for sure though.

What amazes me is even though we're way up here in the 1200 SPX zone, some of the stuff that really ran last time is lagging prior valuations when we were here last time. This sure confuses me. GE BAC and some other mainstream stuff are down but then you look at RCL or LVS and they've flown.

Leads me to really wonder what the heck is going on.

No trades today.

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

[clearwaters]

My scottrade shows the Dow up ten.

[Rich]

yes dow up 10....sir.

[cosmic]

Yeah Bros just pm'd me on that. I was using ISM app to get the quote and wasn't logged in so maybe the 15 minute delay got me.

[ask2lern]

Well nothing to report AGAIN...............looks like the love fest will continue(can it really be this easy) ......................I thought there was an old saying "all good things must end" must be out of vogue now ;D.............people are still piling in the PM arena which is good for business.................boy did my ex partner pick the WRONG time to take a buyout .......................OK enough already...................Exalt for COS..........................live to trade another day......................GLTA

[maxi]

ADBE up 9.93% to date
HAL up 4.74% to date
SVA up 6.77% to date
TGB dwn 0.84% to date Bought yesterday
XRX up 0.20% laggard added a little at the low today
URRE my lottery ticket. up 4.27% bought about 1 1/2 hours ago.

I R Having fun. I R NOT trading.

[cosmic]

Maxi, I think we're doing the same thing - waiting for our picks to run and selling the profits... but not trading. I just can't seem to time it right. Everyone else is doing great, but if I buy anything it immediately drops.

[demanuel2001]

Did a lot of LVS scalping - thanks to negative gamma LVS showed a loss for the day but overall was up $10k.

[maxi]

Cosmic I am as cautious as the next player but since i bought most of these at some serious lows I am not really concerned. If I hold till next July it won't be a bad thing.
I only wish I had also bought RIMM back when it was a POS. LOL

[tajmahal9898]

no trades during normal hours.. picked 15K CSCO at 21.12 during AH.. keeping fingers crossed.

[actuarynomore]

No trades today - Really thought we were looking at more down -I hate this overweight position I'm in - Don't want to sell FAZ shares purposefully for a loss (AP $11.9) and don't want to buy in to FAS just yet - Argh!!!

FAS/FAZ is down/up 2% AM - Wonder if an indicator of what tomorrow will bring - We'll see.

Hope everyone is healthy, wealthy and wiser and look forward to rubbing elbows tomorrow - Dave

[sloop]

pulled 6,700 gain out of an 11,000 loss yesterday. Thank God for buying in THIRDS!!!

[jn1520]

Pulled out of my SOHU position with a loss (hurt bad). Turns out I could have limited that loss significantly because it popped back in the afternoon. That being said, I did re-load with BIDU again (currently up a bit from my buy-in). Also took up a big position with HGSI around 23.95 today. So far, so good.

[kbk3ck]

Nov 10, 2010 17:10:41 GMT -5 cosmic said:

Maxi, I think we're doing the same thing - waiting for our picks to run and selling the profits... but not trading. I just can't seem to time it right. Everyone else is doing great, but if I buy anything it immediately drops.

I hear ya Cos. I got more TYH today and got killed in AH because of CSCO.

[popistoc]

No trades tdy.

popistoc

[brosin]

Real Life

FFR was bearish to .17% from .18% - this was the 3rd time in 4 nights (the first two following market closes at fresh new 52 wk highs each day). This is also a 3 month low; other than that one occurrence on August 12, we would actually have to go back several months further to mid July. I have said that it tops about a week or two before the market - tomorrow will have been exactly 1 week.

My 1/2 FAS was nicely green. In discussions with Snap and Sloop, I may try to grab my 2nd half back around $23.50 rather than my $22.50-$23 hopes. We will see how fast / if it comes.


Monopoly World / real time entries tracked in the blog - interesting day here

Big Cap - day started out very well with my heavy short positions, only to close down -2% on the day which is crazy seeing as I closed out a very big LVS short for a large gain today. Not good...

-Closed out my entire 6.5x short position in LVS from avg $53.37 @ $49.97, $49.66, $49.38, $48.85, & $50 for total of +7.7% / $51K; that's double the previous biggest gain in this account

I didn't initially plan to close it all, but it kept going lower and then the last one was just so that I could add a

Starter position EOD in
SLW $33.75

-Earlier in the day, added to
short CRM $117.16 / avg $114 on 4.5x short position
short CMG $228.70 / avg $204.80 on an 8x short position
short GOLD $98.40 / avg $96.38 on 3x short position

I am 100% short and it appears I would have a margin call overnight that I will need to make at the open (my buying power went negative on the late day move).



Scalp trades - down 8.2% on the day as I held FAZ past my limits into the ground today; thought the market was going to turn and didn't feel like selling on the strong fins move EOD

I did have one good trade
-at the open, I sold my SLW bought at the close yesterday @ $33.29 for 3%

-bought more FAZ $11.12 / avg $11.15 unrealized 3%, holding overnight


Options Account - day ended with me slightly down -1.2% on my SPY $124 put position that I started today

Date Opened Realized Gains/Losses Contracts Buy Price
11/10/2010 SPY Nov $124 puts 200 $2.35
11/10/2010 SPY Nov $124 puts 200 $2.28
11/10/2010 SPY Nov $124 puts 200 $2.34
11/10/2010 SPY Nov $124 puts 200 $2.60
11/10/2010 SPY Nov $124 puts 200 $2.64
11/10/2010 SPY Nov $124 puts 200 $2.62



All in all, accounts down 3.4% on the day