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Post by cosmic on Feb 4, 2011 16:17:15 GMT -5
Got the date right Market was very bland, not a lot of volatility and the VIX dropped 5%, killing long calls and puts. Only price action would work, and that was very limited evidenced by the VIX. Won on my LVS short calls at the $50 strike. Now hunting around for a new place to sink my squiddy-like straw... No other trades, still watching the FAS diagonal. SQNM starting to look interesting again Hope everyone made some money today and will do so on Monday. Members, please post your results along with your RDA of smileys!
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yjfang
Broker/Dealer
Posts: 525
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Post by yjfang on Feb 4, 2011 16:39:46 GMT -5
1. Rolled 10 LVS $46 covered calls out another week for additional $0.80 premium. (would've been happy to have the shares called away and start a new cycle or maybe close the contract and sell the shares.)
2. Sold 5 LVS $48 Calls (2/19) for $1.1 premium. This will be a partial hedge against the shares that I will be assigned from selling the $49 Puts expiring today (received $1.90 for selling the puts.)
3. Sold 5 LVS $47 Puts expiring next friday for $1.08 premium. Expect some rebound next week and hopefully these will expire worthless.
LVS a little bit weaker than I expected today after the yesterday's AH slide. Have more exposure to LVS than I'd like but I ready to hit the panic button as necessary.
Have a nice weekend!
PS: I am taking the Steelers @ + 2.5 and the OVER (44.5), although I wish the Packers would win by 1.
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Post by maxi on Feb 4, 2011 16:57:49 GMT -5
I finally got to sell my silver stock SVM today. for 8.3% I had originally bought it too high and had to average down and wait since Jan 11th. But patience paid off.
It was a nail biter for me since I changed my style and had 50% of my account in it. But a lot more interesting to watch that way!
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Post by tajmahal9898 on Feb 4, 2011 16:58:01 GMT -5
finally a good day in a loooooong time.
closed LVS long 50/49 spread for 54 cents profit.. paid 46 cents.. 117% return
wrote 300 CSCO 22 covered stock calls weekly for 9 cents - they will take away my shares as CSCO closed above 22. Unrealized profit of 9 cents.. Other option is to sell these shares AH and go naked on short 22 call - i will get assigned 30,000 shares in that case. Still debating..
Realized profit of ~8.8K
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Post by demanuel2001 on Feb 4, 2011 16:59:18 GMT -5
Well I did a bazillion trades in LVS and LVS options today - ultimately making things worse. Overall I'm down 4% of portfolio on the day - but that is what I figured I had coming based on after-hours prices yesterday. I did get longer in LVS shares - bought 4k shares after-hours yesterday and another 1,500 near the close today. Also will get assigned another 2k due to expiring $52.50 puts. I have the cash to handles all this - which is a major key to how I run my put writing strategy. Sold the remaining SKX shares and half my MMR shares - both for nice profit. In other news, I don't need to do this but I took all the money in my 403b out of FJPNX and parked it into fixed income prior to requesting that it all be distributed to me. (This is not an opinion on Japan which I think will do just fine - and I have a similar amount in Japan in other accounts - still with the Middle East even crazier than usual it doesn't hurt to be out a bit). This account started at $40K in 1994 and has grown to over $400k via my putting it in country mutual funds and switching around. I'll pay tax on it - somewhere around 35% I guess - then use $100k to pay off the loans on the 3 cars I just bought - even though they are cheap loans the interest is not deductible. The remainder - around $170k will be used to pay down my mortgage - meaning that it will get paid down in 5 years as opposed to 15.
None of this is necessary but it will keep the wife happy and it won't exactly crimp my investing style.
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Post by brosin on Feb 4, 2011 17:14:41 GMT -5
finally a good day in a loooooong time. closed LVS long 50/49 spread for 54 cents profit.. paid 46 cents.. 117% return wrote 300 CSCO 22 covered stock calls weekly for 9 cents - they will take away my shares as CSCO closed above 22. Unrealized profit of 9 cents.. Other option is to sell these shares AH and go naked on short 22 call - i will get assigned 30,000 shares in that case. Still debating.. Realized profit of ~8.8K Really glad to hear Taj - especially seeing that MU went over $11 today! Congrats you deserve it.
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Post by tajmahal9898 on Feb 4, 2011 17:30:22 GMT -5
Thanks Bro -- it's all luck but at least now I control the portfolio ship (not sure how long will this last though)..
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Post by exabi on Feb 4, 2011 19:26:25 GMT -5
Bought LVS 46.44 mid afternoon....had the trend correct but the entry a little high...will see what happens. Watching PCX.....thinking a buy in the low to mid 24's will be in order in a day or two.
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Post by jack on Feb 4, 2011 20:02:45 GMT -5
Got lucky as hell. FNSR popped 13% on a good JDSU report in the fiber optic frenzy. CNL, the Colombian goldminer, won back +3% ...and even RUU, the reformed Russian nuclear weapons complex mine and refinery now for rare earth metals advanced another 8%. Just accounting for the first two constitute a +$142K paper gain...now THAT's what I call "supplementing" a pathetic 30yr Gubmint pension which is less than half THAT! lol!!!
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Post by demanuel2001 on Feb 4, 2011 20:16:32 GMT -5
Um - Jack - I don't think I'd call a Gubmint pension of $70k/year pathetic. Lots of private sector folks get nothing like that.
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Post by benvestor on Feb 4, 2011 20:27:15 GMT -5
Got decimated on LVS calls today.. big portion of Portfolio Yet another bad mistake. had a plan and did not execute it. Never again going into so earnings unhedged Holding alot of LVS feb calls, need a bounce here or Im down even more. about 50% cash for scalping tho and will slowly grind back. Maxi, nice to see you around. Taj nice moves today. Jack you have got to buy us all drinks! Have a great weekend everyone, thanks for all the advice and commentary as usual!
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Post by benvestor on Feb 4, 2011 20:30:06 GMT -5
btw looks like CSTR is going to be a buy here pretty soon
SKX is finally clawing back
LNG is breaking out hard - nat gas
COCO still looks like a good buy and hold
These are buy and holders I am looking at.. dunno if anyone cares lol
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Post by jack on Feb 4, 2011 20:31:02 GMT -5
Um - Jack - I don't think I'd call a Gubmint pension of $70k/year pathetic. Lots of private sector folks get nothing like that. Its 60K but yeh you are right - I should NOT have characterized it as such my bad. But in the WashDC area its relatively peanuts imo.
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Post by demanuel2001 on Feb 4, 2011 20:34:19 GMT -5
Um - Jack - I don't think I'd call a Gubmint pension of $70k/year pathetic. Lots of private sector folks get nothing like that. Its 60K but yeh you are right - I should NOT have characterized it as such. But in the WashDC area its relatively peanuts imo. My bad - I forgot that in DC even the McDonalds burgers have massive cost overruns
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Post by jack on Feb 4, 2011 20:40:57 GMT -5
btw looks like CSTR is going to be a buy here pretty soon SKX is finally clawing back LNG is breaking out hard - nat gas COCO still looks like a good buy and hold These are buy and holders I am looking at.. dunno if anyone cares lol Cramer was pumping an LNG equipment mfr tonite: GTLS ...and if law is passed favoring LNG it'll really take off...
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Post by timber on Feb 4, 2011 20:43:48 GMT -5
thanks jack i like lng too
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Post by jack on Feb 4, 2011 20:44:19 GMT -5
Its 60K but yeh you are right - I should NOT have characterized it as such. But in the WashDC area its relatively peanuts imo. My bad - I forgot that in DC even the McDonalds burgers have massive cost overruns Got that right - there's a frickin' 10% meal tax alone in town.
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Post by timber on Feb 4, 2011 20:44:38 GMT -5
no real trades just penny plays...two of them to be exact
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Post by jack on Feb 4, 2011 20:46:09 GMT -5
thanks jack i like lng too Just be careful Timber...it could be step sister to the UNG widow maker if Congress doesn't pass the necessary laws!!! lol!!!
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Post by timber on Feb 4, 2011 20:46:23 GMT -5
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Post by timber on Feb 4, 2011 20:46:58 GMT -5
dont worry jack i wont bite on lng after seeing the selling
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Post by jack on Feb 4, 2011 20:50:58 GMT -5
Its 60K but yeh you are right - I should NOT have characterized it as such. But in the WashDC area its relatively peanuts imo. My bad - I forgot that in DC even the McDonalds burgers have massive cost overruns btw Deman...one of my last assignments in the Energy Dept as Project Director, a $5B nuclear accelerator, would've come within budget had Congress not pulled the plug...I swear it! lol!!!
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Post by demanuel2001 on Feb 4, 2011 21:00:19 GMT -5
My bad - I forgot that in DC even the McDonalds burgers have massive cost overruns btw Deman...one of my last assignments in the Energy Dept as Project Director, a $5B nuclear accelerator, would've come within budget had Congress not pulled the plug...I swear it! lol!!! Was that the superconducting supercollider thing in Texas?
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Post by benvestor on Feb 4, 2011 21:02:48 GMT -5
thx timber i saw that on TDA. paulson sold alot of his shares in the 5$ range, but i think a nat gas squeeze is on in this..could be a good Long term hold if it comes down to 5-6ish
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Post by benvestor on Feb 4, 2011 21:05:24 GMT -5
hrm i wonder if this is a buy or sell or just saying they are still holding? \ Dec 17, 2010 BLACKSTONE GROUP L.P.Beneficial Owner (10% or more) 4,402,174 Indirect Statement of Ownership N/A Dec 17, 2010 GSO CAPITAL PARTNERS LPBeneficial Owner (10% or more) 4,402,174 Indirect Statement of Ownership
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Post by jack on Feb 4, 2011 21:12:38 GMT -5
btw Deman...one of my last assignments in the Energy Dept as Project Director, a $5B nuclear accelerator, would've come within budget had Congress not pulled the plug...I swear it! lol!!! Was that the superconducting supercollider thing in Texas? No they pulled the plug on the SSC around 18yrs ago now. en.wikipedia.org/wiki/Superconducting_Super_ColliderMine was the Accelerator Production of Tritium (APT) which morphed into a joint project to transmute nuclear waste. Not ONLY would we have been able to produce the gas that goes into thermonuclear bombs we would've been able to solve the civilian nuclear waste problem(!) It was slated to be built at the Savannah River Plant in SC (ugh!)
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Post by Rich on Feb 4, 2011 22:16:32 GMT -5
no trades, didn't trust the action to the down side or the upside. Still holding those calls from yesterday. They're up a little.
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seatoo
Commodities Trader
Posts: 168
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Post by seatoo on Feb 4, 2011 23:32:17 GMT -5
Bought a little TLR for 1.08 Even though it has been shooting up the last two days, it still looks good. Uranium stocks are seeing much strength, and other mining companies may go along for the ride.
Wondering if Gold and Silver have seen their lows, and are heading back up. They have broken out of their recent downtrends. Would like to catch that train if it is heading off to the next station.
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Post by brosin on Feb 5, 2011 1:10:34 GMT -5
Have been out at the bars so bear with me ;D but leaving to go out of town in the early am until late Sunday for a concert so want to post now in case I'm not here until Monday FFR was bearish to .17% and is in the lower level of 'get your parachutes on watch' territory. As much as we all (even me, I admit) may be ignoring this indicator, maybe it is the most important one of all in signaling that the real market (bank lending) is not confirming this move in the slightest. Whatever the case, lending has not looked good since November. My FAZ was even to the penny (had to check again) ... ugh monopoly world Big Cap [/url] - pretty good day especially considering the market was up; we can pretty much attribute that to LVS and DRV though as those two positions were a majority of the gains - acct was +3.4% on the day with a few moves.. buys: (to cover 40%) LVS @ $46.50 & $46.25 / +2% on that combined batch... frankly I am surprised as I did not expect my short position to do well into earnings (to cover all remaining) PCX @ $25.18 / +3% shorts: (add) MU $10.86 / avg now $10.33 unrealized 7% on 4x short position (add) AAPL $344.75 / avg now $336.45 unrealized -3% on 8.5x short position (add) CHK $30.15 / avg now $28.68 unrealized -4.8% on 4x short position BKE $36.84 I remain 100% shortscalp trades - no moves, acct was exactly breakeven w/ FAZ all in all, accounts were +2.4% on the day
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Post by kbk3ck on Feb 5, 2011 1:57:26 GMT -5
Sold 1/2 my ERX and my QPSA and snagged 169 shares of SOXL very early before I went to bed. Just gona hold these for a while. See how long it takes to increase account by 10%.
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