|
|
Post by cosmic on Nov 9, 2010 16:18:20 GMT -5
And ... Then it went down. I did a sweep today of longterm accounts, taking profits only. Still holding core positions just lower share counts. Will add long soon as I can't imagine they'll take it too much down. The numbers I hear a lot are 2-5% so will start getting more interested as we approach those numbers.  So, lots of trades today but mostly boring mutual fund stuff. Did not add any bearish positions. ;D Hope everyone made some money today and will do so tomorrow. Members, please post your results LNG with your RDA of smileys.  |
|
|
|
Post by papasloth on Nov 9, 2010 16:25:02 GMT -5
No trades today, but generally positive on paper. LDK is nicely in the 13-14 range where I need it for peak profit. MBI just reported earnings, and my short Nov 13 calls should be a slam dunk to expire out of the money.
Not much action on TGB and SVNT.
HGSI starting to get a little scary, but I'm not going anywhere until FDA report on Friday.
|
|
|
|
Post by Rothschild on Nov 9, 2010 16:28:41 GMT -5
Sold fas and made 2% in pre-market-that was good. I really,really, thought long and hard about Faz,Drv, and Tza but naively decided against it. Mr market punished me appropriately and I missed out on 21% in profits! That was bad  Live to trade another day ;D I hope everyone made a bundle today; there was something for longs and shorts if you played your cards right. All the best gang! |
|
|
|
Post by sloop on Nov 9, 2010 16:31:19 GMT -5
I bought FAS and was expecting a pull back of some kind but OUCH!! ( im use to it) will buy another third around 24. the thirds save my A_ _ every time.
Just had George W Bush's book sent to my Ipad. Can't wait to read it.
|
|
|
|
Post by maxi on Nov 9, 2010 16:36:12 GMT -5
I'm good. Bought TGB. Now have all the "losers". Which seem to be working pretty well. Oh SVA has been s l o w l y ... moving up! I am up almost 6% on it. Green on all positions and everything except HAL ended green on the day. Bring on the pullback!
|
|
|
|
Post by birthmark on Nov 9, 2010 16:42:27 GMT -5
Sold my MVIS at a loss.
Think they slowly grind that down. But with my luck that baby soars from here on out!!
Should have cut my losses earlier. Still re-learning that lesson.
Bought some more MNKD at 5.38
I like that stock. Nice support at 5.40
We shall see.
|
|
|
|
Post by benvestor on Nov 9, 2010 16:43:37 GMT -5
bought the SLV falling knife.. down about %50 on my calls.. uggg feels like a silver bullet
Going to hold through and buy if we can find a bottom soon.. otherwise well i dunno
Hopefully we dont see another flash crash.. but damn its so lofty
|
|
|
|
Post by brosin on Nov 9, 2010 16:53:12 GMT -5
Real LifeFFR was level at .18% and remains in "Get Your Parachutes on Watch" territory; it is still .02% off the "Deployment" level at .16%, but I believe we were shown the hand when it dropped 2 days in a row w/ market closing at 2 straight new 52 wks highs. I've often said it tops out about a week before the market, and it topped Wednesday night > Thursday morning - so we are right there. My 1/2 FAS was quite red although nothing like that DRN selloff - I remain waiting to reenter that 2nd half at $22.50/23 Monopoly World / real time entries tracked in the blog - had a very strong day here. Big Cap - it was a down day by the tune of -1.1%, but with PCLN doing what it was doing, it basically feels like an up day (I was down as much as 7 or 8% early on in here); not to mention, I am still very short if the market does fall back some more. The first part of the day was spent on damage control of the PCLN bloodbath Sold my remaining longs: CHK @ $23.43 for 5% RIMM @ $55.85 for 0.5% Bought to Cover BIDU @ $110 (breakeven) SLW @ $32.76 for 5.8% (I should've averaged up on it at the open!) Day traded FAZ $10.78 to $11.09 for 2.8% Shorted more PCLN @ $422, $423.30, & $422.75 / avg now $394.51 on a 9.5x short position  I am 99% short, 1% cash Scalp Trades: another good day here +5.9% and another new high (+78% now) - here's a link to a screenshot of the chart tracking this account's buying power (kind of looks like a PCLN chart lol): img517.imageshack.us/img517/9173/scalptradesasof119.png-sold my FAZ from yesterday afternoon @ 10.89, $10.99, and $11.10 for 3.1% -day traded CHK short from $23.33 to $23.14 for .9% -day traded FAS from $24.75 to $24.86 for .4% -day traded SLW short from $34.23 to $33.75 for 1.3% -bought FAZ $11.17 (holding overnight) -bought SLW $32.34 (holding overnight) Options account - very good day here, account +40% and closed at another new high -added to my SPY $124 puts @ $1.83, $2.01, $2.24, 2.39, 2.36 -sold all @ $2.40, $2.43, $2.43, $2.58, $2.68, $2.69, $2.68, $2.67, $2.68 +17.1% on that trade overall All in all, accounts were +7.5% on the day
|
|
|
|
Post by brosin on Nov 9, 2010 17:02:38 GMT -5
I bought FAS and was expecting a pull back of some kind but OUCH!! ( im use to it) will buy another third around 24. the thirds save my A_ _ every time. Just had George W Bush's book sent to my Ipad. Can't wait to read it. It is pretty common for 3 pulls to not even do the trick for me Sloop. I'm starting to learn that for me really to have a successful trade, I need about 5 entries. The learning curve in the monopoly world is hopefully treating me good in the sense that I'm really learning what works for me. |
|
|
|
Post by sloop on Nov 9, 2010 17:09:56 GMT -5
bought the SLV falling knife.. down about %50 on my calls.. uggg feels like a silver bullet Going to hold through and buy if we can find a bottom soon.. otherwise well i dunno Hopefully we dont see another flash crash.. but damn its so lofty Ben, it my seem lofty...but its not..this market has so much room to run. Retail investors just started buying last month. We are very safe. |
|
|
|
Post by brosin on Nov 9, 2010 17:12:02 GMT -5
Even if I do agree with that in general Sloop (I do), it sure doesn't *feel* "very" safe to me.
I'll wait and see how far we fall before jumping back aboard. Retail investors get in and out at the wrong time almost by default.
|
|
|
|
Post by sloop on Nov 9, 2010 17:16:35 GMT -5
I bought FAS and was expecting a pull back of some kind but OUCH!! ( im use to it) will buy another third around 24. the thirds save my A_ _ every time. Just had George W Bush's book sent to my Ipad. Can't wait to read it. It is pretty common for 3 pulls to not even do the trick for me Sloop. I'm starting to learn that for me really to have a successful trade, I need about 5 entries. The learning curve in the monopoly world is hopefully treating me good in the sense that I'm really learning what works for me. You just need to let it fall a little more to cut down on the number of times you buy. It always will be a learning game. like today...I broke a trading rule and bought before the chart said all clear.... and now I sit on a pretty nice loss that could have been bought at the end of the day. I never once had my computer tell me I had an entry point. not once. It was right and I was wrong. One day....I'll get it right. I'm a bit pissed at myself. I never seem to learn that very simple concept. which is called "WAIT" |
|
|
|
Post by timber on Nov 9, 2010 17:20:42 GMT -5
i dont average down if i screw up i wait it out
|
|
|
|
Post by brosin on Nov 9, 2010 17:47:57 GMT -5
i dont average down if i screw up i wait it out So on every trade, you expect to grab it right at the top or bottom? I wouldn't even dream of being that good. I only go after a position I trust - and if I trust it and it gets cheaper, you can bet your a$$ I will be buying more. I never expect to get the low, hence averaging in. In that sense, you are actually HAPPY that it goes lower after your first buy. |
|
|
|
Post by benvestor on Nov 9, 2010 17:48:37 GMT -5
Well with the options movement i usually try and stop out at -10% but i pulled another Ben bilbo baggins.. i also did not make a trading plan so i assumed it would jump without looking at all the S&Rs and how much silver had run..
I hopefully think that the CME margin news is just the relief news to get some selling pressure (pullback) before a run..
I might double down in a few days, but honestly wish i was on the short side.. Silver up 60% this year is quite a run!!
I am going to work on my plan in the next few days and focus on no other trades.. I got patterned day trader and have to trade with settled funds so I have to be very precise on this one.. not alot of outs here..
|
|
|
|
Post by brosin on Nov 9, 2010 17:53:56 GMT -5
Wow really Ben? If I had to limit myself to -10% on an options trade, I'd stop out at -10% on EVERY trade.
If you look at my options tracker (posted in my wrap), the trade I sold for monster gain today was one where I bought it in a *30% range* - my first buy was $2.40 and my lowest buy was $1.83 (today)... I sold all for an avg around $2.50. Different strokes for different folks for sure, but trying to play options that tightly seems borderline impossible to me
|
|
|
|
Post by benvestor on Nov 9, 2010 17:59:16 GMT -5
I seem to get into stocks or Index funds the day or hour before the options are cut in half..
Most of my trades on options have been huge swings either way.. i really have this uncanny ability to pick the exactly right time, or for most of the time, the exact wrong time... averaging in would most times be pointless on my plays..
|
|
|
|
Post by tajmahal9898 on Nov 9, 2010 18:00:49 GMT -5
No trades.. got tempted few times but tamed myself not to get excited..
Canceled short MCP order few times.. wanted to go long on SDP but didn't... will wait..
|
|
|
|
Post by benvestor on Nov 9, 2010 18:01:29 GMT -5
My ideal plays are when the stock jumps on high volume, i buy in and ride out the run and then sell most as it tops..
That is why i play the options, small percent moves on stocks happen all the time, and with the options you can reap huge percents in small times.
|
|
|
|
Post by brosin on Nov 9, 2010 18:03:28 GMT -5
My ideal plays are when the stock jumps on high volume, i buy in and ride out the run and then sell most as it tops.. That is why i play the options, small percent moves on stocks happen all the time, and with the options you can reap huge percents in small times. Can also reap huge percent losses in small times though too. Always the other side of the coin. If you really do have the perfect knack for taking the wrong side, why not play that to your advantage? Truly know what it is you want to do, and do the opposite? Over the past couple years, I've definitely had those periods where it really did pay to fade my own emotions and expectations. Especially when I'm in a rut. |
|
|
|
Post by benvestor on Nov 9, 2010 18:05:51 GMT -5
I am learning tho that i may need to rething everything..It is funny each time i get back into trading, like in Jan and Sept we have huge bull runs.. but i lose
basically i need to go back to the drawing board because i have been playing most things wrong the last 6 months..
|
|
|
|
Post by benvestor on Nov 9, 2010 18:06:57 GMT -5
Take silver for today.. before it lost that buck i was really thinking of buying.. and it was so lofty, an obvious short as it fell..
Yah i need to work on the Bias and emotions part.
|
|
|
|
Post by brosin on Nov 9, 2010 18:12:51 GMT -5
I am learning tho that i may need to rething everything..It is funny each time i get back into trading, like in Jan and Sept we have huge bull runs.. but i lose basically i need to go back to the drawing board because i have been playing most things wrong the last 6 months.. I can't even describe to you how much confidence (and fake money) I am getting from doing those fake accounts. It is a great way to learn about yourself and what works for you. Also a great way to refine your personal skills. The most important lesson I've learned is that averaging in thing - I have immediately learned that in real life, I haven't had much trading success because I put WAY too much into one position all in one or 2 pulls (rarely works). Not to mention the types of stocks I buy - I will only focus on bigger cap stocks now a days. The odds of you digging yourself into a major hole are much lower as opposed to buying a small/mid cap stock or even a penny stock. If the trade turns against you, you will never get out. That's not even close to true with the bigger cap stocks where you can average in and be very confident that all you need to do is wait. |
|
|
|
Post by timber on Nov 9, 2010 18:14:42 GMT -5
Well with the options movement i usually try and stop out at -10% but i pulled another Ben bilbo baggins.. i also did not make a trading plan so i assumed it would jump without looking at all the S&Rs and how much silver had run.. I hopefully think that the CME margin news is just the relief news to get some selling pressure (pullback) before a run.. I might double down in a few days, but honestly wish i was on the short side.. Silver up 60% this year is quite a run!! I am going to work on my plan in the next few days and focus on no other trades.. I got patterned day trader and have to trade with settled funds so I have to be very precise on this one.. not alot of outs here.. dont screw up or you will be suspended for 90 days....it happened in my zecco account years agos....so i told them to Fck off....exact words too |
|
|
|
Post by timber on Nov 9, 2010 18:20:38 GMT -5
My ideal plays are when the stock jumps on high volume, i buy in and ride out the run and then sell most as it tops.. That is why i play the options, small percent moves on stocks happen all the time, and with the options you can reap huge percents in small times. Can also reap huge percent losses in small times though too. Always the other side of the coin. If you really do have the perfect knack for taking the wrong side, why not play that to your advantage? Truly know what it is you want to do, and do the opposite? Over the past couple years, I've definitely had those periods where it really did pay to fade my own emotions and expectations. Especially when I'm in a rut. lets put it another way i try not too average down....like i bought hero exel and somx once and did not average down but just waited it out....i got out of hero and somx with a profit....exel im still waiting |
|
|
|
Post by Rich on Nov 9, 2010 18:23:23 GMT -5
averaging down = prison
gobble
|
|
sabin26
Commodities Trader
Posts: 103
|
Post by sabin26 on Nov 9, 2010 18:52:12 GMT -5
Redeeming day for me... Bought in too early on TZA last Thursday in PM at 20.3 the day they let TNA run loose. Definitely hasn't been fun for the last week hearing everyone and their mother basking in the dollars they were making while I was on the other end taking it in the rear...the worst part of it all is i had cancelled a TNA stink bid at 51 the day before which I would have made a killing on.  I've personally found that whenever I am about to finally throw in the towel is usually when it turns...stuck to ma' guns and managed to sell near the top today at 20.5. Conviction is key. While I imagine I could get better at some point tomorrow, I think I'd be an idiot to go from $5k down this morning to $1k up and not take the gain. Karma to commodity and for his timely posts this afternoon which helped me from selling too early. (props to snap and bros as well)  Looking forward to getting back into TNA sometime in the next couple days...guess I'll know when around 2:05 tomorrow.... |
|
|
|
Post by maxi on Nov 9, 2010 18:57:25 GMT -5
averaging down = prison gobble Not always true. But for emotional short term trading in stocks u really know nothing about ... yeah then well yes maybe so. |
|
|
|
Post by actuarynomore on Nov 9, 2010 18:59:07 GMT -5
Can't tell you how many times I almost pulled on FAS and fortunately didn't - It seemed like every time I put a limit bid in, Fas would inch up a bit and then continue on its downward path at which point I canceled the bid - Looked at my daily trading log and it happened 4 times.
I'd like to chalk it up to becoming more patient and reading charts better versus simply hoping for more downside - 6 months ago, I absolutely would have bought on the way down.
My FAZ position appreciated nicely and hoping we see more of today tomorrow.
Hope you guys have a great evening and look forward to rubbing elbows tomorrow - Dave
|
|
|
|
Post by exabi on Nov 9, 2010 19:09:09 GMT -5
averaging down = prison gobble Not always true. But for emotional short term trading in stocks u really know nothing about ... yeah then well yes maybe so. There is an argument for averaging down on an option position - limited life - lowering your basis and hoping for a reversal, which may or may not work. Otherwise, average up on an equity position after the reversal. No trades today. |
|
Live to trade another day ;D I hope everyone made a bundle today; there was something for longs and shorts if you played your cards right. All the best gang!
