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Post by cosmic on Dec 16, 2010 16:06:29 GMT -5
Day continues to grind with much larger participation on my watchlists, i.e. more green than red so breadth was pretty wide. That's something that's been missing. The finreg that hit the credit card companies today is going to weigh on FAS, so not sure how that will play.   I picked up some IWM calls today, and was executing right as Rich was doing it and my stinky bid on the Dec 30's hit. It may be that I caught the low of that swoop. Small fun position. There's a lot of TP in these with only 2 weeks till expiration. May be a very short hold. Since I am playing bullish even though overall I'm still kind of bearish. no doubt the market will dive bigtime tomorrow.  No other trades. Hope everyone made some money today and will do so tomorrow. Members, please post your results along with your RDA of smileys!  |
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Post by demanuel2001 on Dec 16, 2010 16:12:36 GMT -5
Big bounceback day for me - shame I had to cut my positions yesterday. LVS was huge, of course, made a couple of little trades there. pretty much everything else was up too. Made something in excessof 3% on my overall portfolio.
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rockbo77om
Futures Trader
Nonsense, I have not yet begun to defile myself.
Posts: 260
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Post by rockbo77om on Dec 16, 2010 16:22:13 GMT -5
Big bounceback day for me - shame I had to cut my positions yesterday. LVS was huge, of course, made a couple of little trades there. pretty much everything else was up too. Made something in excessof 3% on my overall portfolio. Way to hang in there demanuel! Got a nice scalp trade on LVS, too bad gave more than half of that back on a bad FAS day trade. |
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Post by Rich on Dec 16, 2010 16:24:53 GMT -5
I played the weekly 78's. nice set up.
fins unexpected, but hopefully won't factor in heavily.
long ire, ksu also
70% cash
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Post by cosmic on Dec 16, 2010 16:32:30 GMT -5
Which week?
I'm Dec 31 77's
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Post by brosin on Dec 16, 2010 16:33:20 GMT -5
Real Life FFR was bullish for the 3rd day in a row to .20% from .19% - it is now firmly into the .19% or above "all clear" territory for the bulls; I may have to seriously reconsider my bearishness if this keeps heading up the way it is doing. Now it is confirming the equity market movement, and the bearish drop never even showed itself in equities in the timeframe that is typically expected. I will wait to see where it settles down and whether it will now move back down just as swiftly as it moved down and back up; it has been more volatile these past couple weeks than any other part of 2010. Monopoly World/ real time entires in my blog Big Cap - saw a breakeven day of +.1%, I'll take it since I was largely short biased and reallocated quite a bit today Yet again it was an interesting day in IRE, but I am free and have covered ALL remaining short shares @ $2.72, $2.69, $2.70, and $2.69 for total of +3.3% / +$54K on what was at one time a 11x short position that I was in danger of capitulating on Other moves... Buys: (to cover 1/3 remaining) SLW $36.95 / +5.2% (to cover all) S $4.16 & $4.19 / +1.6% on 3x short position (add) YOKU $31.65, avg $36.52 / unrealized -17.3% on 5x long position  (add) OREX $8.75, avg $8.94 / unrealized -1% on 6x long position (add) CYOU $27.10, avg $28.04 / unrealized -.2% on 2x long position SIRI $1.36 (to cover all) PAL $6.28 / +2.2% V $69.20, $67.90, 66.90, avg $68 on 3x long position BIDU $98.17 Sells: (all) LVS $43.90 / +3.9% (1/2) DRV @ $21.55 / +7.6%, BUT rebought $21.20 (1/3) FAZ @ $10.44 / +3.3% Shorts: LVS $44.10, $44.60, $44.89, avg $44.53 on 3x short position (add) NFLX $181.50, avg $180.16 / unrealized -.8% on 2x short position IYT $91.92 I am now 40% long, 60% short scalp trades - no moves, account +.6% on the day, STILL holding FAZ although "down" to a 3.1% unrealized loss options account - down day -5.6%, few moves closed out 1/2 of the SPY $126 Jan puts I was holding overnight @ $3.87, $3.92, & $3.75 for avg gain +17%, but then I added those back (and some more) @ $3.63, $3.54, $3.49, $3.46, $3.44, $3.35, $3.30, now holding big position avg $3.50 All in all, accounts were -.5% on the day
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Post by Rich on Dec 16, 2010 16:34:47 GMT -5
next week. I was looking at the jan rut until I noticed contracts were $2200 |
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Post by timber on Dec 16, 2010 16:38:35 GMT -5
i was always taught to buy the big boys on a panic dive like V...so far those plays have not worked well.....as in csco
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Post by cosmic on Dec 16, 2010 16:40:31 GMT -5
Exactly Fredo. I have this stupid gut feeling it's to collapse an overheated option chain, that the further out months are just too expensive or something so they collapse these runners, and HOLD them down literally with a foot on their head.
I'm not saying that's what happens. I'm saying that's what it *feels* like is happening.
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Post by brosin on Dec 16, 2010 16:41:18 GMT -5
i was always taught to buy the big boys on a panic dive like V...so far those plays have not worked well.....as in csco it is usually the right play to buy the panic dive, but only if you leave yourself enough room to keep accumulating until it decides that enough is enough... I got in CSCO at $19.11 - had i not sold at $19.65 (still a strong gain), I'd be looking at 4% already in 2 weeks. That's really good for a $100B company |
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Post by brosin on Dec 16, 2010 16:43:32 GMT -5
Exactly Fredo. I have this stupid gut feeling it's to collapse an overheated option chain, that the further out months are just too expensive or something so they collapse these runners, and HOLD them down literally with a foot on their head. I'm not saying that's what happens. I'm saying that's what it *feels* like is happening. I dunno Cos, I have bought into falling knifes on blue chips with strong success... BP, RIG, RIMM, BAC are just the first ones that come to mind, but I know there are so many others |
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Post by Rich on Dec 16, 2010 16:44:16 GMT -5
shit. Cos, I have week 4's.
is that next week?
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Post by cosmic on Dec 16, 2010 16:46:16 GMT -5
I think so Rich. Mine are by date at TDA. Dec 31's, 15 days to expiry
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Post by cosmic on Dec 16, 2010 16:49:35 GMT -5
Exactly Fredo. I have this stupid gut feeling it's to collapse an overheated option chain, that the further out months are just too expensive or something so they collapse these runners, and HOLD them down literally with a foot on their head. I'm not saying that's what happens. I'm saying that's what it *feels* like is happening. I dunno Cos, I have bought into falling knifes on blue chips with strong success... BP, RIG, RIMM, BAC are just the first ones that come to mind, but I know there are so many others I know, I know, I leave a lot lying on the table with my doominess. It's my nature. I just don't trust any of 'em. I believe CSCO's overall crash which wasn't really that huge IMO, was because corporate spending on infrastructure for 2011 looks weaker than expected. Add to that rising commodities, and CSCO has margin problems. But then again, what business wouldn't? Think about an all-inclusive vacation sold 6 months ago for 1 year out. The price in June was dirt cheap. But 6 months from now the price of food is outrageous (relatively speaking) to when the vacation was sold. They've already done fuel surcharges, why not just add a commodity surcharge? |
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Post by Rich on Dec 16, 2010 16:52:47 GMT -5
wierd.
Usually, they start selling weeklys on thursday before the week starts.
a date would be better. Options express just had one weekly you could trade, as they don't have weeklys during opex.
I just figured it was next week.
TDA is better I think.
dates. What a novel idea.
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Post by cosmic on Dec 16, 2010 16:54:41 GMT -5
Give a strike and rough price that you see right now and I can figure it out from my screen.
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Post by cosmic on Dec 16, 2010 16:58:46 GMT -5
Better yet here's what I'm looking at... As you can see I'm very proud of myself for getting that EOD low BTFD in. ;D  |
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Post by benvestor on Dec 16, 2010 17:14:37 GMT -5
anyone else the see perfect Inverse H/s on spy on the 5 day chart..
that could not be a more perfect set up for a pop tomorrow. Unless its a fake out. I would trade it by buying calls at the open if it confirms tomorrow.
Unfortunately i am done trading because i chased the silver short long past its occurance. Never chase a short in a bull stampede!..
I just think it is overextended and all this talk of the JPM short squeeze happened already.
We will see in the next few months i guess, i still dont know enough about it to be playing it.
Lessons learned for next quarter!
another few pages for the book i guess
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Post by benvestor on Dec 16, 2010 17:18:39 GMT -5
i do have 2 silver puts at 27 so if it decides to tank tomorrow and finally hit its pullback trendline Ill have a few bucks to trade.. I assumed it would bounce of the 20dma, and SLV did, but at a slower pace than expected.. So i guess the trade wasnt completely retarded!  |
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Post by Rich on Dec 16, 2010 17:21:11 GMT -5
iwm decwk4 78 calls @ .57
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Post by Rich on Dec 16, 2010 17:24:22 GMT -5
They call yours quarterly. Dec 2010Q4 on OE.
You did get a nice price.
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Post by exabi on Dec 16, 2010 18:00:15 GMT -5
SPY, DIA, QQQQ, XLE, GLD, and IWM have quarterly options in addition to the normal monthlys
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Post by actuarynomore on Dec 16, 2010 18:29:13 GMT -5
Still not sure where this market is headed but decided to get back in the FAS game - Bought 500 FAS at $25.35 to go with my larger than life FAZ holding which is almost green.
I knew all along that my FAS/FAZ arbitrage trade wouldn't work well in a unidirectional market but once my FAZ holdings come into play, Katie bar the door - I just hope it happens before Christmas.
Hope everyone has a great evening and look forward to rubbing elbows tomorrow - Dave
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jn1520
Broker/Dealer
Posts: 719
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Post by jn1520 on Dec 17, 2010 8:05:18 GMT -5
Still holding 100K shares of ACTC and feeling good..this is heating up into 2011. Other holds include: 5500 of SNSS, 1400 of SIRI, 1075 of CYCC (awaiting moves to the upside, which will come). I'm patient with these.
Sold FAZ for very minor gain at 10.23 - kind of a knee jerk reaction, but I feel like my $1325 can grow much more somewhere else - probably another bio play.
No other trades.
GLTA! Let's bank some more today!
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