Cosmic's MarketPlace Wrap - 12/10/2010

[cosmic]

No MP flush. I taunted him several times via the intercom and he mumbled blow-off top but it does look like the steady grind higher. I can only fight it for so long but I believe in the indicators. I am not short.

Closed an LVS trade today that backfired. That's fine I already saved some as it closed near it's LOD. I would beware that thing for now. If you do play it hedge it.

No other trades.

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

[Rothschild]

Making a shift into Biotechs for 2011; Wall St bigshots are aiming in this direction. I have positions in ALIM,CADX,ACHN,ZGNX,ALTH,EURX,ISPH,and ITMN. Financials and Semis should perform well also. Up 3% for the day. Everything is just peachy

Hope everyone made a fortune today and will continue to do so ad infinitum ;D

[demanuel2001]

Still stuck in LVS hell - been that kind of week. Another biggish down day to round out the week. Let's see what Monday brings.

[timber]

be careful with lvs it needs to find a bottom.....38 is what i read

[maxi]

I am outta control and loving it....
HAL +9.98%
JOEZ new buy +.63%
PHM +2.34%
TGB +4.61%
URRE added +1.32% decided better safe than sorry sold for a whooping $30 loss. If all the primary's decided to sell now maybe it is not the best time to buy... WHY do they always announce this after hours?

[brosin]

Real Life

FFR was bearish to .16% from .17% - it has shown bearishness 4 out of the past 6 days, and is firmly entrenched in a bearish *trend* which has typically meant the market will fall within 5 days of its start; today would have been that day, but it did not happen. However, with the market closing at another new high, should the FFR not confirm that action, it would not bode well next week for the bulls.

My FAS was nicely green, but it is no longer "my FAS" as I sold it today at $26.15 & $26.70. It was a 40% gain, and I will look to buy back in should it get to the lower $20s again.

Monopoly World / real time entries tracked in my blog

Big Cap - talk about a whipsaw day. At one point early today, I was +9.5% on the day (would've been by far my biggest day), but it closed the day +4%; still a good day and sitting at a new closing high

Buys:
MOBI $6.75 / unrealized -11%
YOKU $43.80, $41.25, $39.10
FAZ $10.11
DRV $20.32

Sells:
2/3 of my 5x long position in DRYS $6.31 & $6.34 for +3.9%

Buy to cover:
1/2 my 11x short position in IRE @ $2.76, $2.75, $2.71, and $2.63 for +1%... holding remaining 5.5x short position avg $2.74 / -2.5%... this unlost $146K on the day for me today, so I am very happy to have been able to significantly lighten up

Shorted:
LVS $45.95
SOHU $78.60
BAC $12.51

My allocation is 34% long, 65% short, 1% cash - so I technically went slightly more long from my 33% long allocation at the close yesterday

Scalp trades account -4.8% on the day, still holding FAZ - reaching true IDIOT status -8.2% unrealized... would've been wise to not pull the stop at $10.54!!

Options Acct - last week, I got lucky on Friday; today, I did not. In fact, my entire position expired worthless and I lost $206K on it / 34% of my account. Luckily I had already moved $500K in profits out of there... started with $150K, and even after today I am still at $357K account value, so that's ok. But yeah, not a good day in there; win or lose, I was going to be done playing the weekly options. I think that is the correct move ;D ... account -14.7% on the day


All in all, accounts were -1.7% on the day

[Rich]

I traded fas and spy calls. little gain. I might have held them longer if I could have kept my eyes open

[exabi]

Unlost to within $0.04 of my PCX buy on Wednesday.....waffled between selling at a minimal loss or selling covered calls....did neither...will see what next week brings.

[alphacpa]

Goodevening everyone. Sold all shares of FAS at 26.83 for no good reason other than I wanted to lock the gains and stay in mostly cash this weekend. Purchased at the 22ish avg. I strongly believe banks will continue to power up this month and be strong in 2011. The steeper yield curve will allow banks to print money next year. That said, its nice to be all cash this weekend except for $4,700 in MVIS I purchased at 1.75 (buyer beware on that one!). Have a great weekend.

[birthmark]

This week I sold all my LVS and half of my BIDU holdings for a very very nice profit.
Still holding a bunch of PAL, MNKD, SCCO and quite a few others.
GL

PS-- To quote Bob Dylan, "It's not dark yet, but it's getting there."