Cosmic's MarketPlace Wrap - 12/27/2010

[cosmic]

This is like the Mega Year End Opex or so it feels. Didn't feel froggy enough to go long, and sure as heck not short. No trades on this drifty directionless day. All just part of the 'Great Unwind' ;D

Hope everyone had a great Holiday, and made some money today and will do so tomorrow. Members, please post your results along with your RDA of smileys.

[Rich]

wasn't quick enough to buy the dip. Woulda had to buy in the first few minutes

It looks like the melt up continues.

[demanuel2001]

Sold some BPZ, IPE and IIF. Puked up a little of my LVS position - not so much from necessity but as a precautionary lightening up. Bought some AIG. Net net ended down a fraction on this customary day of watching paint dry at the end of the year.

[billorites]

Sold some FAS that I've been holding since before the "Flash Crash."

It's called "tax loss harvesting."

Feels more like "organ harvesting."

[exabi]

No trades today - watched CLD after my profitable sell at 21.9x on Thursday, closed at 22.77 today....now that CLD is getting some volume, may become the new PCX for a trading stock.

[brosin]

Real Life

FFR was level at .19% over the weekend (even with the Xmas Eve holiday Friday, the FFR was still put out, level at .19%) - as mentioned in the daily thread, I think this was a positive sign for the bulls given the context.

Biggest news is that my IRA continues to make new highs on the year, and I'm even beating the market YTD by a couple percent - this is a FAR cry from late August when I know I was at least -20% YTD...

With trading dough, I added to my FAZ from $9.55 on Wednesday at $9.41 (I knew it was going lower because I filled on the bid at the LOD at the time). It is certainly possible I'm making a poor play overall here, as I had sold my big FAS position @ $26.80 and went to cash. This FAZ position is not quite 20% of the size of that old FAS position, not to worry. I am more likely to stop out around $9.25ish than average down another time on it to be honest While I had/have no qualms holding FAS longer term, FAZ is a whole different ball game mathematically...


Monopoly World

Big Cap - strong day, acct +3.2%, built on another account closing high; main reason I find this significant is that I've been bear biased throughout

Sells:
-(all) V @ $70.28 / +3.4% on a 3x long position from the falling knife day last week
-(all) LEDS @ $29.75 / +18.1% but had only been a 1x long position
-(1/3) YOKU @ $37.20 / +1.9%... I'd usually hold longer but it had grown to a 8x long position that was down over 20% / >-$100K at one time. Green is a godsend. I'll probably lighten up a little more on strength and let a smaller amount ride on this IPO

Buys:
-(add) DRV @ $18.66, avg $19.48 / unrealized -5.2% on a 7x position - far bigger than I had wanted going in...
-(to cover all) SLW @ $36.12 / +7.6%... these were my final shares from what became a 8x short position (+4.8% on total trade)
-DANG $29.60

Short:
-(Add) BAC @ $13.26 / avg $12.89 unrealized -3% on 2.5x short position
-CLF @ $78.14

I am 24% long, 70% short, 6% cash


Scalp Trades - no moves, holding FAZ truly into the ground now, unrealized -12.7% from $10.73 ... acct -3.6% on the day. FAZ position is hands down the worst move of any of the 3 accounts since inception was to not stop out for 2% loss, but mainly because of what the strategy in this account was supposed to be

options account - no moves, account -1.1%, still holding SPY Jan $126 puts for unrealized -43% currently


All in all, accounts were +1.4%

[timber]

about six trades today mostly closing the vix calls on that spike

[tajmahal9898]

only trade.. sold 46 LVS covered calls for 55 cents.. last week the calls didn't got called..

CENX behaved as expected, dump in the morning due to increase in Chinese interest rate, followed by gradual upward movement.. unfortunately, i slept through the dump phase and it was too late to buy around 16...