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Post by cosmic on Nov 5, 2010 15:04:23 GMT -5
S&P up, Dow and Nas down. Was today Opex? bwahahaha  I dunno folks. Yesterday sure seemed like a toppy top, maybe we need to pull back for a consolidation but it's been a fine run. I suspect VERY soon, like Monday, I will do a sweep of longer term accounts.  ALMOST got out of my BAC calls today with a very very small profit (paid for commissions) - they are normal November Opex expiration, so still have some time. But since I bought them they've been under water. I always seem to do well buying tops on some of these things.  No trades today. Hope everyone made some money today and will do so on Monday. Members, please post your results along with your RDA of smileys!  |
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Post by brosin on Nov 5, 2010 15:09:40 GMT -5
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Post by tajmahal9898 on Nov 5, 2010 15:16:02 GMT -5
No trade.. had limited funds available for trading.. most of funds were tied up with naked 500 QQQQ 54 weekly calls that i had sold yesterday for 17 cents..
these calls will expire worthless tomorrow and I will have a realized profit of $8,700..
It is a very very difficult market for me to trade.. I would play around with options here and there and would try to limit my exposure to shares.
GLTYA..
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Post by demanuel2001 on Nov 5, 2010 15:37:23 GMT -5
Well - maybe I shouldn't have had two pints of beer with my fish'n'chips for lunch. Got back after lunch to see LVS Nov Vol had blown out to 68% and LVS was up over $3. Gamma was killing me - so I killed myself some more trying to scalp my way out of it. Finally said the heck with it just before the close and bought back most of my short option position. This may be the end of my ride on LVS. After the gamma carnage - and when mutual funds report it looks like I'll be down $20k for the day - but up $30k for the week. I'm gonna have to get another gig if LVS has me this badly spooked.
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Post by Rothschild on Nov 5, 2010 15:55:42 GMT -5
scalped Drv three times and made 1% today. Bought a starter position in SPXU nothing big because we got POMO to contend with on Monday so if I lose, I wont have it handed to me too badly  Hope everyone made a bundle today like Czar Nicolas Romanov did before 1917 Next week, should be fun. CDS market predicts doom for Ireland so I might just short the Euro as well Have a great weekend Gang! |
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Post by tajmahal9898 on Nov 5, 2010 16:02:55 GMT -5
timber why do you dislike my post ? I made a realized profit of $8,700 (after a long time)...
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Post by popistoc on Nov 5, 2010 16:32:30 GMT -5
Got out of TNA calls about even, no positions.
Need to plan better.
popistoc
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Post by benvestor on Nov 5, 2010 16:37:24 GMT -5
made about 20% up on the Porterfolio today.. held Fas and Bac options long term HAHA).. and got smashed on a LVS calls scalp..
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Post by timber on Nov 5, 2010 16:42:07 GMT -5
timber why do you dislike my post ? I made a realized profit of $8,700 (after a long time)... no offense ther taj i dislike eveyones posts ;D ;D  |
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Post by maxi on Nov 5, 2010 16:45:43 GMT -5
Already posted this, this morning but.... Sold the SVM i bought back yesterday. Am considering buying it again Monday. Total gain for the week almost 14% on that trade. Novice is right SVM is fun for trading.
I have no plans to sell my other 3 stocks. Will probably add to them if we have a pullback.
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Post by brosin on Nov 5, 2010 16:54:04 GMT -5
Real LifeFFR was bearish to .19% from .20% - I found this disturbing given that the market closed yesterday at a new 52 wk high. That is exactly the type of divergence that bulls should pay attention to. Let's see if it deteriorates further; remember, .18% is the "Get Your Parachutes on Watch" level. .16% is the "Deployment" level. In that sense, I may be early as I am now bearish in the interim. My (now only 1/2 position) FAS did very well. I wonder if - even should the market sell off - FAS won't hold up really well whatever happens. Monopoly World / real time entries tracked in blog - another very active reallocation day Big Cap - *very* strong day, +4.4% built on yesterday's new high thanks to big BAC, CRUS longs, LVS short position Sells: BAC - $12.47, $12.65, $12.48 / 4% overall on what was 7x long position at one point CRUS - $13.75, $13.58, $13.68, $13.82 / -.6% on what was a 6x long position that I was getting shallacked on originally. Buys: RIMM $55.50 (new position) Shorted: CMG $227.50, $229.55 (added - avg $204.80 / unrealized -5.9%) POT $142.15 (new position) AAPL $318.10 (new position) LVS $53.47, $54.65, $55.20 (new position - avg $54.44 / unrealized +4.5%) BKE $33.70 ***I am now 18% long, 80% short, 2% cash*** Scalp Trades - got back on the Scalp Train today (had been too busy to do it really the past 2-3 weeks)... +4.4% on the day -sold CLF $70.70 held from yesterday (+1%) -day traded FAZ $10.28 & $10.36 to $10.44 (+1.3%) -day traded FAZ $10.50 to $10.60 (+1%) -day traded FAZ $10.54, $10.53 to $10.45 (stopped out -.7%) -day traded FAZ $10.48, $10.44 to $10.55 (+1%) -day traded RIMM $55.28 to $55.56 (+.5%) -bought FAZ $10.43, $10.39 (holding overnight) Options Acct - only 1 move on the day, -2.3% overall -opened SPY $124 Nov puts for $2.40 & $2.32, unrealized -7% so far All in all, accts were up 5% on the day
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Post by birthmark on Nov 5, 2010 16:59:27 GMT -5
No trades.
Still holding my MNKD and hoping to unload it next week at 6+.
GL
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Post by timber on Nov 5, 2010 17:03:15 GMT -5
JUST SOld the somx i got earlier for the big squeeze nice move there....the usual shorting scams today vxx tza and faz......covered tza because those shares are easy to get now
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Post by papasloth on Nov 5, 2010 17:05:59 GMT -5
Sold to open a bunch of Nov calls and puts today, all high volatility plays, adding to existing positions. Net, net-
LDK - short Nov 13 Calls, short Nov 11 Puts, short Nov 14 Puts. Peak profit between $13-$14, break even at $11.50 and $15.50. Solars have been on a tear recently, and LDK has earnings next week. I expect LDK will crush estimates, but most of the upside is baked in at this point.
HGSI - Short Nov 23 Puts, short Nov 25 Puts - break even at $21.40, peak profit at $25 or above. HGSI has an FDA panel on Nov. 16th for Benlysta, and positive vote looks likely (low risk, first new lupus drug in 50 years, met their BLISS-52 and BLISS-76 primary end points). This is probably cooked in, and there's more downside risk than upside risk, but the stock is trading above $25 and I just need it to stay flat to up from here.
SVNT - Long the stock, Short the Nov 15 call, Short the Nov 11 put, Short the Dec 12 put. I'm way in the red on this one, and need SVNT to hit $15 to break even by Nov. I don't expect this to happen. In the meantime, I'll continue selling calls against my long position, trying to lower my cost basis. SVNT will begin sales of their refractory gout treatment on Dec. 1st, and I think $15 or $20 by the second half of 2011 looks pretty good.
TGB - short Nov 7.5 calls, short Nov 4 puts, short Nov 6 puts. I'm in the red on this one as well, but think this copper miner is pretty undervalued right now because of a recent Canadian Federal Governmental decision against development of Taseko's Prosperity mine. Copper warehouse levels are low and falling, copper price is on the rise, and TGB has around $0.60 EPS.
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Post by tajmahal9898 on Nov 5, 2010 17:24:27 GMT -5
papasloth interesting option strategy -- you have a mixture of vertical and straddle position.. very interesting.. do you also have a ratio spread or all options are 1-by-1
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Post by actuarynomore on Nov 5, 2010 17:28:52 GMT -5
Didn't know what I was going to do today because of my heavy FAZ position and no FAS so I decided to take a flying leap and bought 1,000 FAS at $24.78 during PM and got lucky.
Sold 500 FAS at $25.80 and the last 500 at $26.80 for a very unexpected $1,500 scalp today - I also picked up another 500 FAZ at $10.30 and am a little nervous with such a large position (AP is $11.90) but am expecting a few Bear days soon.
Increased holdings by 50% in 1 of my spec plays ZTHO (Z-Trim) and hope to see $2 to $3 by March next year and much higher later as they ramp up their production capabilities - We'll see.
I hope everyone has a great weekend and look forward to rubbing elbows with you on Monday morning - Dave
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Post by papasloth on Nov 5, 2010 17:37:47 GMT -5
papasloth interesting option strategy -- you have a mixture of vertical and straddle position.. very interesting.. do you also have a ratio spread or all options are 1-by-1 Mostly 1x1, except the SVNT position, where I'm long 2x the stock and the 15 calls, but 1x the Nov and Dec puts. I started out with a covered vertical call spread there, then the stock plummeted, so I averaged down the stock, closed the short calls, initiated the short put side, and wrote a lower strike covered call position. Damage control. |
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Post by timber on Nov 5, 2010 18:04:12 GMT -5
i dont think i will ever get as good with options like you guys are
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Post by papasloth on Nov 5, 2010 18:09:30 GMT -5
i dont think i will ever get as good with options like you guys are Now I'm confused because you liked my post, but if you're the anti-timber, that must mean you disliked my post. Where's the "head exploding" smilie? |
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Post by exabi on Nov 5, 2010 18:17:45 GMT -5
On a salvage mission on my AA Nov 13 puts - added and cut my basis by about 40+% - will see how it pans out.
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Post by trading4dough on Nov 5, 2010 19:50:13 GMT -5
sold a 45% portfolio weight swing position eod in fas/tna
covered my paper losses on some bagholder turds + a bit
unloaded my STEC +42%
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Post by kbk3ck on Nov 5, 2010 19:54:18 GMT -5
Grabed 370 THY this morning at $43.88. Was up mostly on it today but never enough to justify selling. Holding thru the weekend and looking for a big pop Monday.
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Post by PoorHomey on Nov 5, 2010 21:00:54 GMT -5
What a week!!! Since Thanksgiving is just around the corner, I'll just try to be thankful. Thankful I still have a job. Thankful it's Friday. Thankful I wasn't short anything. Thanks to my employer's stock experiencing a sudden unusual lack of underperformance this week, I managed to scratch out a decent gain and am now 10.44% away from the "halfway mark" on my overall long term (~3 year) goal. ;D  |
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Post by popistoc on Nov 5, 2010 21:07:34 GMT -5
Poorhomey.
Are you up 15 x since Feb? What are you trading? (?)
popistoc
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Post by PoorHomey on Nov 5, 2010 22:01:29 GMT -5
Poorhomey. Are you up 15 x since Feb? What are you trading? (?) popistoc Total overall gain since Feb is about 48% but most of those gains have come from regular income (saving 80% of my paycheck, not spending any money on anything, eating ramen noodles only, etc) rather than trading. I stick to a super strict budget and keep track of all expenses.. Hopefully if I keep it up, one day I'll be able to upgrade to "MiddleclassHomey"  |
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Post by popistoc on Nov 5, 2010 22:28:56 GMT -5
Remarkable!
What will you do when you reach your goal?
popistoc
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Post by PoorHomey on Nov 5, 2010 23:44:09 GMT -5
What will you do when you reach your goal? Sit around in my underwear all day watching Airwolf and Gilligan's Island reruns.... There's a dinky little ghost town in South Texas I'm rather fond of where houses start around $5,000, decent places start around $20,000, and well maintained & updated houses run $25-40k... I went down and checked this one out a couple of months ago for $6500 obo, but it was a bit rougher than what I had in mind.   I passed on this one too...  |
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Post by Rich on Nov 5, 2010 23:48:39 GMT -5
Looks like the south side of Youngstown.
In the boom years a while back we we're buying these cheap and fixing them up, in some cases the city would give them away if you assumed the taxes.
The things I do for dough!
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Post by benvestor on Nov 6, 2010 2:33:32 GMT -5
That second house could be nice.. so many windows ... lots of plywood to build a nice treehouse.. and the grass is surprisingly green
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