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Post by brosin on Feb 17, 2011 16:45:37 GMT -5
Looks like Cos called an audible after signing in at 3 pm - sorry about that or I would've got it started Bears are dying, bulls are flying, and the squid is feasting!  The market is dragging everyone into it kicking and screaming; tough to know whether or not that is going to end up being the right move or not. Either way, market has done a phenomenal job of making the bears look foolish!  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 Feb 17, 2011 16:50:56 GMT -5
Another nice day with no wild swings to scare me - or to provide much in the way of scalping opportunities. Sold off half my BPZ for a nice gain on the pop. Bought back some of the tomorrow short LVS puts and replaced with next friday short puts. Completed a long delayed stock scalp from yesterday. Overall up about another 1% on the day for the portfolio, a shade under 7.5% MTD and 11.5% YTD.
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Post by Clinton SPX on Feb 17, 2011 17:02:40 GMT -5
No trades but Ill take more days like today.
BCON +5.18%
SNSSD +4.25%
EK +1.64%
PSUN +0,9%
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Post by jack on Feb 17, 2011 17:07:27 GMT -5
11.5% YTD!!!!
THAT deserves a few Karmas!!!!
DANG!
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Post by demanuel2001 on Feb 17, 2011 17:14:04 GMT -5
11.5% YTD!!!!THAT deserves a few Karmas!!!! DANG! Thank you Jack - of course it is mostly driven by my LVS strategy but lately Japan has been performing too. I keep expecting to wake up and find it was all a dream. |
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Post by jack on Feb 17, 2011 17:24:40 GMT -5
Deman,
I thought you knew: it IS a dream.
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Post by cosmic on Feb 17, 2011 19:16:15 GMT -5
Bros, I tried and tried to post but ATT 3G wouldn't let me consistently access today. I couldn't even get the FME to fully load. Not sure why, I had 3 bars and could text but just couldn't get any decent Internet. I think it's this type of stuff that has made ATT the ire of iSmug users.
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Post by jack on Feb 17, 2011 19:46:02 GMT -5
Just learned that my original 117,975 shares of CNL were transferred out of the Toronto Exchange and are now available to me with some restrictions (namely I can't sell any for several more weeks until that restriction has been removed!) www.stockwatch.com/Quote/Detail.aspx?symbol=CNL®ion=CThis is good news...but someone needs to pinch me because I'm still not convinced its for real! |
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Post by brosin on Feb 17, 2011 19:49:37 GMT -5
Sorry kind of long, busy market day for me Real life - I can't call my biggest news good or bad, but it is news: went from 16% cash in my IRA to 40% cash I as I sold 1/2 of 10 different positions: TGB / +29.9%, CLF / +383.2%, VALE / +116.9%, PCX / +96.7%, FCX / +136.5%, BAC / +26%, RIMM / +54%, STEC / +36.2%, BP / +57.4%, CHK / +40.4%... haven't been in this much cash since June 2009, although I only started the IRA early that year. I hope I don't end up regretting this like I did in mid July when I didn't buy back my full positions nearly in time and chased.  at least I locked some of it in though  FFR was bearish to .15% from .16%, putting it back into "deployment on risk" levels and a 8 month low. Other than one touch at .15% on 6/30/10 8 months ago, one would have to go to 3/12/10 to see readings that low. The equity market is 20% higher than it was then, but yet the lending markets are no stronger. My FAZ was red / MNKD level monopoly world - it happened big cap - becomes my only account (more below), acct was down -3.1% on the day shorts: (add) CLF $99.55 / avg now $86.67 unrealized -14.8% on a 11x short position  (add) PCLN $458.10 / avg now $425.08 unrealized -7.1% on 5x short position I don't have a margin call overnight! Knock on wood going into next week ;D I remain 100% short with my back to the wall - yeah that usually works out well  acct +30% since inception, beating the market by only 9%... tells the story VS MKT BIG CAP SPY 2010 68.61% 13.54% 2011 -15.94% 6.76% 29.77% 21.07% I AM BEATING/LAGGING BY 8.70% scalp trades - capitulated on FAZ for a WHOPPING -30.8%; hasn't quite set in yet, but of course I still own FAZ, DRV, and TZA in the other account  ; this account has gone the way of the options account (profitable but barely, and wiped out tons of gains quickly)... went from +100% in December to +.1% when I closed it all out. Moved the $250,xxx into the Big Cap acct which is my only account left.  All in all, accounts were down 3.7% on the day - |
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Post by brosin on Feb 17, 2011 19:55:14 GMT -5
Bros, I tried and tried to post but ATT 3G wouldn't let me consistently access today. I couldn't even get the FME to fully load. Not sure why, I had 3 bars and could text but just couldn't get any decent Internet. I think it's this type of stuff that has made ATT the ire of iSmug users.  np, I knew it was something funky and wondered if you had internet problems when trying to post it or something - was why i mentioned it... |
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Post by Rich on Feb 17, 2011 20:07:25 GMT -5
no trades. Spent some time outside today although it seemed a little unnatural. 60 degrees in February.
Worked a little
Played a little
Let my mind wander as to what I'd like to do this year.
All in all, a positive day.
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Post by Cosmic on Feb 17, 2011 20:26:26 GMT -5
Nice Rich, I cleaned. Then went out for late late lunch. Had a nice drive.
Bros, what's most interesting here to me is consider now that you have to draw on those funds, say monthly, to support your existence. Also add in potential brokerage fees if you're using a big trading house for an account that size (often the case for older money), and a different type of puzzle emerges.
I think you did a phenomenal job trading it and went with conviction which is the most important thing and MP and I still think we're all right but we have POMO.
What would be your take thoughts/perspective given the new spin I've provided?
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Post by brosin on Feb 17, 2011 20:33:16 GMT -5
I think we're on the same page overall. Only reason I'll capitulate is because I want to stay ahead of the market or at least near equal performance. I assume $7 trades LOL and do not assume that I am drawing on the money; it is a long term "fund" that is trying to beat the market.
Notice I have not capitulated on my FAZ trade in real life, I finally had to cave to my fear and sell half of my IRA positions, and I am not the least bit bullish. For me it is a strange place to find myself.
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Post by exabi on Feb 17, 2011 20:35:30 GMT -5
Bros, I tried and tried to post but ATT 3G wouldn't let me consistently access today. I couldn't even get the FME to fully load. Not sure why, I had 3 bars and could text but just couldn't get any decent Internet. I think it's this type of stuff that has made ATT the ire of iSmug users. Went long on a VZ MMI Droid X - My old RAZR was due for an upgrade - somehow I cracked the front screen, and decided to take advantage of the Verizon 2 yr upgrade before it runs out. I decided on the Droid based on the fact that you can expand the memory and you can actually change the battery - it will prove to be an expensive choice - wife wants one now  |
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Post by cosmic on Feb 17, 2011 20:37:52 GMT -5
I think we're on the same page overall. Only reason I'll capitulate is because I want to stay ahead of the market or at least near equal performance. I assume $7 trades LOL and do not assume that I am drawing on the money; it is a long term "fund" that is trying to beat the market. Notice I have not capitulated on my FAZ trade in real life, I finally had to cave to my fear and sell half of my IRA positions, and I am not the least bit bullish. For me it is a strange place to find myself. Would you have played more conservatively? Hedged maybe the FAZ with some short calls on it, etc? |
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Post by demanuel2001 on Feb 17, 2011 20:40:45 GMT -5
Nice Rich, I cleaned. Then went out for late late lunch. Had a nice drive. Bros, what's most interesting here to me is consider now that you have to draw on those funds, say monthly, to support your existence. Also add in potential brokerage fees if you're using a big trading house for an account that size (often the case for older money), and a different type of puzzle emerges. I think you did a phenomenal job trading it and went with conviction which is the most important thing and MP and I still think we're all right but we have POMO. What would be your take thoughts/perspective given the new spin I've provided? Maybe I can chip in here as I have both academic and practical experience of the issue. I have now been living for a year via trading my own money and I have to write checks for living out of my after-tax trading account. If those expenses are a substantial chunk, you need to have a trading and money management strategy that can support TWICE your cost of living. Why TWICE? It's nothing to do with taxes - that is just another part of your cost of living. Well, the easy way to see this is that if you only make, on average, you cost of living you will eventually get wiped out by a streak of bad luck as you are not accumulating extra funds to protect yourself against bad luck. Now if you don't have enough assets to support trading that can reasonably generate twice your cost of living you have to do one of 3 things:- 1) Wait and get more money before you try to do this 2) Try it anyway and just accept that you have a chance of getting wiped out before you can amass enough funds for a safety cushion. 3) CUT your cost of living |
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Post by brosin on Feb 17, 2011 20:42:10 GMT -5
I think we're on the same page overall. Only reason I'll capitulate is because I want to stay ahead of the market or at least near equal performance. I assume $7 trades LOL and do not assume that I am drawing on the money; it is a long term "fund" that is trying to beat the market. Notice I have not capitulated on my FAZ trade in real life, I finally had to cave to my fear and sell half of my IRA positions, and I am not the least bit bullish. For me it is a strange place to find myself. Would you have played more conservatively? Hedged maybe the FAZ with some short calls on it, etc? Admittedly, probably not (assuming of course, that it was my own money). Especially because the early success meant that I could be riskier since it was "house money." Either way though, the goal was do play it how I would in real life and considered doing more options. As fake as the money is, the time / work constraints were very real though. In an ideal world, the account would be my only job so maybe I could've gotten more creative. For me though, it is almost seeming like simple is better? I tell you what though, if I could do it all over again, I'd short the bull 3xs rather than go long the bear 3xs (AND I feel like I already "knew" it before, but yeah...) |
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Post by kbk3ck on Feb 17, 2011 20:57:59 GMT -5
Stuck with SOXL and ERX today. Even added another 35 shares of ERX @ $79.88 early this morning. Made another $906.35 today. Happy Happy Joy Joy!!!!  |
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Post by jack on Feb 17, 2011 21:19:23 GMT -5
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acct +30% since inception, beating the market by only 9%... tells the story
; this account has gone the way of the options account (profitable but barely, and wiped out tons of gains quickly)... went from +100% in December to +.1% when I closed it all out. Moved the $250,xxx into the Big Cap acct which is my only account left. 
