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Post by cosmic on Dec 7, 2010 16:25:20 GMT -5
Only 1 trade today, I added some Jan 2011 IRE calls - a bit of a longshot but we'll see what happens.  Market felt like consolidation again today, I didn't watch the action around Obama's announcement, but the Dow closed lower than it was when before nap-time. It was up around 55 then.  I'm still in the 'sell the news' camp and it's coming, I think.  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 Rothschild on Dec 7, 2010 16:45:18 GMT -5
Team, It was a glorious day for me; Ire was the trade of the year for me.... up another 22%. I made some 97% on that trade in like ten days and I was high fiving everyone in the office and I was so drunk and giddy today that I knew it was time to cash in at least some of those chips which I did. Still holding half of my original position @ 1.41 and I am as bullish as ever on Ire. No other trades today  Hope everyone is making tons of cash and will continue to do so ad infinitum ;D ; it is literally being thrown from helicopters (thanks Bernank  ) |
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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 7, 2010 16:50:42 GMT -5
Congrats deroth!
I had a mere 1000 shares IRE just to keep it on radar, enough to keep me in the black today.
MGM looking strong, I see a quick trek to $15.
Started position in C at $4.60.
FAS = whole lotta hope, hell lotta frustration. Minor losses on the day, still holding.
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Post by Rich on Dec 7, 2010 17:01:12 GMT -5
no trades. I was looking to go long all day so when it dropped on Obama I was caught unawares.
Put in a ridiculous bid for spy 125's that almost hit, missed by 2 cents.
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Post by demanuel2001 on Dec 7, 2010 18:05:18 GMT -5
No trades - I'm in Vegas with a hangover. Did log in to see my position losing. Dropped over 2% today - basically on LVS. hmmmm
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Post by papasloth on Dec 7, 2010 18:09:50 GMT -5
I'm in Vegas with a hangover. The key to avoiding a hangover while in Vegas is to not stop drinking. Trust me, I'm an expert on this. |
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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 7, 2010 18:12:21 GMT -5
I'm in Vegas with a hangover. The key to avoiding a hangover while in Vegas is to not stop drinking. Trust me, I'm an expert on this. In all seriousness, that's correct! |
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Post by brosin on Dec 7, 2010 18:13:50 GMT -5
Real LifeFFR was level at .18% - although it stabilized after two straight bearish moves, it is still in "get your parachutes on watch" territory and should be closely monitored. Further deterioration would activate it as a negative trend that would typically be followed by a market drop. Bulls would like to see it bounce back into the .19% or above "all clear" territory before buying into any dips. For now, I think the play is to continue selling into strength. My FAS was slightly red Monopoly World / real time entries tracked in my blog Big Cap - moved my weighting towards the bear side, flat day, +.1% Sells: All MS @ $26 / +3.1% on 4x long position All BP @ $43.37 / +4.3% on standard 1x long 1/4 remaining BAC @ $11.66 / +1.6%, still holding 3x long avg $11.49 1/3 remaining CHK @ $22.75 / +3.4%, still holding 2x long avg $22.01 Buy: Add to DRYS @ $6.05 / avg $6.16 on a 2.5x long position Shorted: Add a double unit short IRE @ $2.72 / avg $2.53 unrealized -4.5% on a 4x short position Add to S @ $4.21 / avg $4.17 unrealized -1.1% on 2x short New AMZN @ $179.50 Add to SLW @ $40 / avg $38.88 unrealized -1% on a 9x short position  Allocations now 38% long, 61% short, 1% cash scalp trades - good day, account was +4.2% and has taken a further leg up (starting to look like poorhomme's net worth chart) ;D img403.imageshack.us/img403/1484/scalptradesasof127.pngsold 57% of my LVS @ $57.77 for +.9%, holding the rest - other than that I am 63% cash Options Acct - whew, talk about a day. I went from being convinced I was going to get my butt handed to me on my SPY $124 weekly puts I had been accumulating yesterday and today and lose between $100-150K minimum (20% of my account) to somehow getting out unscaved; account +4% on the day Yesterday's buys were $1.53, $1.69, $1.67, $1.63, $1.54, $1.55, $1.50, $1.45, $1.43, $1.40, $1.36, $1.35 (You can see how this was going) Today's buys were $1.09, $1.03, $1.05, $1.00, $0.93, $1.02, $.90, $.81 Thought I was dead (having to sell all of those into the decay would've been BRUTAL volume-wise)... then the commodity key reversal came and I sold 80% of the big position in the last hour... vol was quite large. The amount they moved was NUTS - first real experience watching the pricing on weekly options during a reversal $1.27, $1.30, $1.28, $1.24, $1.35, $1.37, $1.32, $1.31, $1.34, $1.31, $1.27, $1.27, $1.38, $1.39, $1.43, $1.41, $1.44 locked in realized -$1600 / -.7%, but still holding 400 contracts for 55% unrealized gain / $20K All in all, accounts were +.7% on the day - I hadn't calc'd it in awhile, but combined, they are +138% since 9/7/10
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Post by timber on Dec 7, 2010 18:16:28 GMT -5
well at least i can say this brosin....your a professional.....you take it very serious
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Post by brosin on Dec 7, 2010 18:18:32 GMT -5
LOL it won't be a worthwhile experiment / experience if i don't!
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Post by timber on Dec 7, 2010 18:19:28 GMT -5
i dont know what i did today....i was too busy mulching the leaves and raking them
something about buying the silver dip to offset my short....also sold ire at 2.69 for a nice scalp....will reenter for sure.....covered some ung short for a fast trade too
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Post by brosin on Dec 7, 2010 18:20:57 GMT -5
leaves!? ha we got nothing but snow and ice on the ground and it's cold as hell
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Post by jack on Dec 7, 2010 18:25:13 GMT -5
No trades - I'm in Vegas with a hangover. Did log in to see my position losing. Dropped over 2% today - basically on LVS. hmmmm Just DON'T stray too far away from the strip on foot partner - lotta predators in that town I know it well (at least up till 4yrs ago). |
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Post by timber on Dec 7, 2010 18:27:33 GMT -5
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Post by timber on Dec 7, 2010 18:30:58 GMT -5
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Post by timber on Dec 7, 2010 18:40:15 GMT -5
leaves!? ha we got nothing but snow and ice on the ground and it's cold as hell its cold here to brosin nothing like chicago though |
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Post by actuarynomore on Dec 7, 2010 18:45:23 GMT -5
It's been hard to concentrate this week as my business partner (retirement consulting) continues to do the most incredibly stupid things and has put the rest of my business at risk - What I make at trading may soon be my livelihood.
I had little conviction on today's action and fortunately sold 500 FAS early while it was still above $25 - Thinking it was going to bounce and didn't, I decided to sell another 500 FAS at $24.60 and really wanted the afternoon dip to hit $24 at which point I would have bought 1,000 FAS back - Grabbed 500 FAZ at $10.63 as well as more ZTHO.
Even though it was a tough day, I can't complain because my FAS/FAZ trade profit today equaled $1,130 and I am averaging $799 per day for December.
I am currently holding 500 FAS (green) and 6,000 FAZ (red) and while I don't care which direction the market moves tomorrow, I would love to see a rip-snorting, bronco-busting, bull-shitten BEAR!!!!
Hope everyone has a great evening - Going Christmas Tree shopping tonight - Will see you tomorrow - Dave
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Post by exabi on Dec 7, 2010 18:48:20 GMT -5
Cold here too....didn't see 40. Bought some PCX at 17.34, shoulda sold at the 17.80's, back to 17.30's now.
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Post by papasloth on Dec 7, 2010 19:15:11 GMT -5
Just DON'T stray too far away from the strip on foot partner - lotta predators in that town I know it well (at least up till 4yrs ago). Off strip can be a little scary, especially down by the Stratosphere tower end. But that's nothing compared to the area downtown around the Freemont Street Experience. You're taking your life in your own hands if you stray so much as a couple of blocks away in any direction. Smart money stays between Treasure Island and the Mandalay Bay, and takes the shuttle anywhere else |
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Post by popistoc on Dec 7, 2010 19:34:32 GMT -5
Lost 900 on FAS weeklys...and there's no tiger in the room-I need a drink-
popistoc
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Post by benvestor on Dec 7, 2010 23:33:45 GMT -5
bought back one IRE call yesterday at .30 and held through.. was real tempted to buy the 3's for .15 as i bought the 2s for .15 when IRE was at 1.80 and that worked well buttt.....
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Post by sloop on Dec 8, 2010 0:09:32 GMT -5
Lost 900 on FAS weeklys...and there's no tiger in the room-I need a drink- popistoc I'll make you feel better im down 17K on BBY and I found out my inboard motor on my boat has seized up. Life is pretty much sucking for me right now. I have really lost my trading ability. Feel better? Theres a Tiger every fuking where I turn right now. |
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