Cosmic's MarketPlace Wrap - 1/4/2011

[cosmic]

Not sure what to think about today's action other than it was fairly broad. Perhaps just "Trading Day 2 of 2011 Blues."

Still thinking there will be a pullback going into OPEX and it will be sharp, but probably won't last.

Opened a straddle on DIA/SPY - no other trades.

Hope everyone made some money today and will do so tomorrow. Members, please post your results along with your RDA of new and improved smileys!  

[demanuel2001]

Big up day driven by LVS. One thing's clear - LVS no longer tracks the US markets. Scalped LVS bought back some weekly puts and lightened up a bit. Sold my MGM position. Overall up better than 2% on the entire portfolio.

[cosmic]

I don't see any smileys D-Man. I find this continued flaunting of daily requirements as concerning.

[demanuel2001]

Jan 4, 2011 16:27:44 GMT -5 cosmic said:

I don't see any smileys D-Man. I find this continued flaunting of daily requirements as concerning.

[tajmahal9898]

active day -- seems that I am going back to my old habit of day trading.. scalping for pennies with large # of shares.. will try to follow this pattern until I one day I will take a big loss (that day might not be very far

scalped ISPH for 5 cents on 50K shares
scalped CENX (short) for 12 cents on 20K shares
Sold all LVS position at 46.72 for $1.3 (w/o taking covered calls profit into consideration)

overall very nice first 2 days of trading... portfolio up ~2.7% in last two days.

all cash except small ISPH (90 March 5 calls) position..

[brosin]

Real Life

FFR was level at .19%, leaving it on the cusp of "all clear" territory for the bulls. However, with the market strength being on full display the last week or two, it would be a strong sign to me should it *not* push into the .20%s. If you would've told me 3 weeks ago that we would be at 1270 SPX, I would've thought the FFR would be around .23% (would be a 21 month high). Divergences, divergences.

My FAZ was slightly green but I'm still about 4% underwater on it; as mentioned, it is about 20% of the size of my previous FAS position I had held in this account from Aug to Dec. I will not hold this FAZ position very long, however, and it's going on a week now.

Monopoly World / real time entries tracked in blog

Big Cap - very strong day; after losing -4.5% yesterday on a very poor day [not surprising given my 75% short allocation], I made it all back and some, finishing the day +6.3% even with the market only slightly red. The squid is having bulls for lunch by my eye. Just slightly off a new high by a couple %... only a few moves

Buy:
(to cover 10%) BKE @ $37.28 / exactly breakeven, avg still $37.28 / unrealized +1.5% on a still *11x* short position ... was upwards of 10% loss at one point, so very thrilled it is finally pulling back

Sells:
(60%) OREX @ $9.16 & $9.22 / +2.7% on that portion of the 6.5x long position; still holding avg $8.94 / unrealized +3.6% on 2.5x long position
(50%) CYOU @ $29.35 / +4.8% on that portion of the 2x long position, still holding avg $28.05 / unrealized +4% on standard 1x long

Shorts:
(add) LVS @ $47.15 / avg $45.37 unrealized -5.2% on 5x short position
(add) BAC @ $14.24 / avg $13.34 unrealized -6.8% on a 4x short position
(add) CLF @ $84.40 / avg $80.83 unrealized -5.5% on 3x short position

I am now 19% long, 81% short

scalp trades - decent day, +3.1%, still getting crushed by FAZ

Options Acct [/url] - slight red day of -3.3% as the SPY $126 Jan puts were slightly down

All in all, accts were +4.8% on the day

[Rich]

My ewz was green, barely.

no other trades

[Rich]

Jan 4, 2011 16:23:55 GMT -5 demanuel2001 said:

Big up day driven by LVS. One thing's clear - LVS no longer tracks the US markets. Scalped LVS bought back some weekly puts and lightened up a bit. Sold my MGM position. Overall up better than 2% on the entire portfolio.

Max told me almost 2 years ago LVS moves of it's own accord.

[seatoo]

Averaged down on URZ, now ave cost is 4.05.