Cosmic's MarketPlace Wrap - 11/12/2010

[cosmic]

Woof Woof! As expected,

Is this just some distribution or something more? Don't know. We hit a new high, and promptly crapped. Shows how cautious the market is. Got a profit? Take it. That's what the market is saying.

I sold a few turds today just to clear my account - CTSO and ARNA, both of which have performed so poorly that I can't continue to watch. Took a 50% bath on CTSO, and a 42% bath on ARNA. Since I don't put much risk capital into these, the total loss was just over $1K but a loss is a loss.

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

[demanuel2001]

Scalped LVS a lot today but once again gamma hurt me - overall down about $25k today. Not particularly worried though. My LVS position is very nicely situated to make a bundle next week as we roll up to expiration.

[Rich]

I made a nice trade on spy 118 dec puts.

Cos, Your fan fib is still holding, plus the support 1198ish.

We could see some green Monday.



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[sloop]

im in a bunch...BAC LOCM TYH FAS MTB WMT... BAC is holding up great oh...and I sold TZA at the end of the day.

[maxi]

Added 2x to the ACI that I accidentally bought yesterday after hours
That worked so far. Preface all my trades with I am not selling for a while 5% DROP OR NOT. Adding if anything.
My silly JOEZ ended 2 cents green on the day. Making me dead even on that.
Added to TGB.
ADBE and HAL lost a bit. Not concerned.
XRX not any worse off than yesterday really.
URRE lost a nickel. The reason I call it my lottery ticker is I have 100 shares! LOL... Too much else to pay attn to right now.
Still have SVA.

[Rothschild]

Down 2% today because I thought I shouldnt fight the FED POMO didnt do chit except a POMOgrante red day. On a positive note, the Irish banks were rallying nicely and next week we got 5 mo POMOs

Have a great weekend gang.

[tajmahal9898]

scalped CSCO in the morning for 10 cents or 1,500 realized profit.

CSCO short 21 call should expire worthless, realized profit of $700

CSCO
unrealized loss of 16 cents or 2,400 on long 15K shared
unrealized loss of 20 cents or 2,000 on long dec 20 calls.

[bellevuetrader]

Hey....I thought I was the only one who took a 40+% bath on ARNA! Sadly my loss was over 2k... ;(

[maxi]

Cosmic what is CTSO? Is that really what u meant? a ( now)10 cent stock?

[cosmic]

That's the one Maxi. I had picked some up at .18. I've been holding it for a while - it saw some life about 2 weeks ago, and promptly dropped again. MM's let their buddies out after an average-down. When it popped to .13, I thought "Hmmmm, looks like MM's letting their buddies out who averaged down I should sell" but didn't. But I knew it was going to happen which is funny. I think it used to be MSBT or some similar symbol.

[papasloth]

Yesterday, I naked shorted some HL Nov. 9 calls. Those are in the green today. My MBI naked short Nov 13 calls are virtually guaranteed to expire out of the money (a good thing). Pretty much everything else today is looking ugly.

HGSI - lots of naked short puts at 23-25. Added some more naked short Nov 23's today. I'm pretty much all-in on these at this point.
SVNT - Another down day.
TGB - Another down day.
LDK - Looking for 13-14 on options expiry, currently 12.50 and down today. Still above break-even though.

Tuesday is my "big day." That will be the HGSI advisory panel vote on Benlysta. If that goes well, I expect my naked short puts to expire out of the money on Friday. If not, we'll see what happens.

[brosin]

Real Life

FFR was level at .17% - this was surprising given its recent bearishness, the CSCO news into the holiday, and the bloody red futures last night. I would consider that a slight divergence from expectations, which makes me wonder if we are close to a near term bottom. The next move (to either .16% or .18%) may be *very* telling.

My 1/2 FAS got redder yet again, and I am starting to wonder if I can set my sights even lower than my anticipated $22.50/23 hope to grab my other half back. We will see - I'm hoping it hits there Monday morning; the sooner we plummet, the quicker I'll be to get on the buy trigger.


Monopoly world / real time entries tracked in the blog - fairly avg day here by activity, and a very strong day by way of results

Big Cap was up +5.2% on the day (if it wasn't the best day I've had in there, it was close), and at one point it was up over 8% on the day. No moves

Still 100% short, 0% long, 0% cash

My margin call went down to basically nothing (-$17K in buying power), but if the market is up strongly on Monday morning, I will need to meet that.



Scalp Trades - had a great day +21% thanks to a very big FAZ position, and account hit a new high after a slight pullback yesterday: img442.imageshack.us/img442/5108/scalptradesasof1112.png

Still left decent amount on the table:

-sold half my FAZ $11.49 in the am for 3.2%
-bought back that half FAZ $11.56, but later stopped out on the full position @ $11.54 for 1.8%
-bought back in full position FAZ $11.59, sold half at the close for breakeven $11.59, holding other half overnight


Options Acct - another really big day here, my biggest ever +80.3% (that account now +303% since inception )

Sold all my remaining SPY $124 Nov puts so that I could roll into the Dec $123s (I had sold out of half yesterday)

Sold at @ $3.70, $3.71, 3.71 - got total of 29% in that position overall

My current SPY $123 Dec put position (avg $4.14 / unrealized +12.1%):

Date Opened Contracts Buy Price Sell Price Total Cost
11/12/2010 SPY Dec $123 puts 100 $4.57 $45700
11/12/2010 SPY Dec $123 puts 100 $4.56 $45600
11/12/2010 SPY Dec $123 puts 100 $4.71 $47100
11/12/2010 SPY Dec $123 puts 100 $4.73 $47300
11/12/2010 SPY Dec $123 puts 100 $4.25 $42500
11/12/2010 SPY Dec $123 puts 100 $4.33 $43300
11/12/2010 SPY Dec $123 puts 100 $4.38 $43800
11/12/2010 SPY Dec $123 puts 100 $3.91 $39100
11/11/2010 SPY Dec $123 puts 100 $3.47 $34700
11/11/2010 SPY Dec $123 puts 100 $3.47 $34700
11/11/2010 SPY Dec $123 puts 100 $3.59 $35900
11/11/2010 SPY Dec $123 puts 100 $3.68 $36800


All in all, accounts up 21.4% - by far my biggest day. I just calculated my total returns, and my $1.3M that I started with on 9/7 is now worth $2.1M (+64%)

[timber]

brosin your to neat and clean

[novice08]

Oink, oink. Today feels a bit like a slaughtered pig...heavy in commodity positions so was down about 11K-- Sure hope for recovery into a bull next week. Everyone have a great week-end. Go Dawgs! (Playing at Auburn). 423 guests here over the last 24 hours! and ;D

[PoorHomey]

Ended the week with an unrealized loss of $1.50!!!!

After next Friday I'll have 11 days off in a row which I'm very much looking forward to. ;D

Still inching my way towards the 50% mark on my overall long-term goal. (top of this chart) Barring unforeseen expenses / unemployment / trading losses, I should reach it on or before 1/28/2011. Now 9.45% away...

[exabi]

No trades - didn't have the conviction to buy the dip nor establish long put positions....I think there are more dip opps coming in the next few days. Glad I wasn't in my favorite coal - PCX - 8% to the red.

[brosin]

Nov 12, 2010 17:47:57 GMT -5 timber said:

brosin your to neat and clean

LOL I had like 2 or 3x my biggest day ever, and that was all you got / you choose today to say that Timber? Geez

[Rich]

Nov 12, 2010 18:49:24 GMT -5 brosin said:

Nov 12, 2010 17:47:57 GMT -5 timber said:

brosin your to neat and clean

LOL I had like 2 or 3x my biggest day ever, and that was all you got / you choose today to say that Timber? Geez

My account is up 91% since July low. However it was down about the same from the spring.

I have clawed my way back.

[brosin]

Nice! Chip chip chipin' away Rich

Now just make sure you keep heading in the right direction - those big holes are very tough to get out of; kind of like FAZ decay you will never get out alive

[benvestor]

Holding SLV puts.. lost my arse on calls, that is why stops should be used on options that move like lightning..

this time i bought ITM options, hopefully the damn things stay that way.

UGgg