Cosmic's MarketPlace Wrap - 3/2/10

[cosmic]

ALMOST got the poll right with baby bear. It's coming. You know it. At 4pm the market was barely red so ALMOST.

If you had followed my pics from yesterday with SQNM and TSEM you would have had a nice day... I did with both. Also added some SPNG and sold a few FAZ puts as a hedge on my FAZ short position as this is how I will play this Opex. (Build FAZ short positions and sell FAZ puts against it for decay.)

Hope everyone made some money today and will do so tomorrow. Regulars, please post your results and smiley yourselves!

Here's the final RIFIN:

[Rich]

Bought LVS apr 16 puts. Not asking for the world :'(just a down day!

[brosin]

Mar 2, 2010 16:10:46 GMT -5 cosmic said:

You know it

The rainman refuses to believe such things.

No moves, APWR/account slightly green. Hoping for a break above $14 tomorrow.

[timber]

too many trades to list today....about 10 or 11....well there gos the trade less idea
mostly in and out of sqnm
vstnq fre stec fslr and bought spng too....but it wouldnt sell

[timber]

bought gro too

[timber]

oh and sold apwr for a nice gain

[Dualism]

Bulls appear a little tired. Technical picture is overstretched on the buy side. I expect a pullback tomorrow.

Market breadth was once again in favor of advancers by 4999 : 2226.

The VIX however closed somewhat neutral, but still a lower close by 1%.

Another lackluster day in the T-bond futures.

Opened SQNM Mar 8 puts and 9 calls.

My account gave up ground by 0.9% today.

[tajmahal9898]

Only trade was to pick some MU at close, ticket is in to sell MU AH..

Wanted to buy some protected FAS puts around 78.3 but as I didn't hear back from Dual, didn't execute on it.. Dual, it's all your fault -

[ccash04]

Sold off all 100 RIG 85 Calls for a + .30 gain

Added 40 more BIDU 470 puts

[ask2lern]

Well I sold my PALM for a whopping 2.4% gain......I went into that to early and probably got out to early but a gain is a gain and I am bearish on the markets at the moment........may re-enter lower..............I finished easing into my SPY PUT position currently at 350 March SPY 110's @ 1.03avg........guess how I am voting on the Bull/Bear poll. ........gave karma (WTF is up with COS smiter's? I have brought him to 19,20,21, on several occasions and still only 19 and I got him there AGAIN) who is the rat among us???..........well they got me earlier too and I am sure my bearish position will get a smite or two.............5 Exalts for Cos.....................live to trade another day.............GLTA

[drtracyb]

Got 10,000 shares of SPNG for 0.045 this morning. Tried to get another 40,000 at 0.040 but it wouldn't hit. I'm doing all or nothing because e-trade charges me for each block if the buy is divided. I wonder if I shouldn't do AON?

Wanted to play VSTNQ again today but too scared. I've done that in the past, done really well on a penny stock and then gone in for a second time only to lose my entire gain.

Still have my initial 200 APWR shares that I bought at 13.61 last week, sold the other ones on Friday and used the funds to play VSTNQ yesterday.

Sitting on MVIS 1000 @ 2.34.

DDSS 500 @2.00 :-(

IMGG 2000 @ 0.50

And finally, the 200 shares of BAC that I bought way back in October when it broke 18...... I've been in and out of BAC since then but refuse to sell that lot because I don't want to record a loss. I know, that sort of thing drives people crazy.

Anyway, that's what I got. Just felt like sharing.

[Cliff Barnes]

Bought a lil Faz lookin a pullback. volume really sucked. The bull is tired.

[shipoffools]

Holdings in APWR increased 5 cents today for a $300 increase.

Added 350 shares APWR today at 13.68 (reached a bit). Up 5 cents.

Tomorrow



ADP Employment Report
8:15 AM ET


EIA Petroleum Status Report
10:30 AM ET

Beige Book
2:00 PM ET




Bought 1000 shares of CWS at 5.94 - up 16 cents today +160

[brosin]

Mar 2, 2010 16:40:54 GMT -5 drtracyb said:

Got 10,000 shares of SPNG for 0.045 this morning. Tried to get another 40,000 at 0.040 but it wouldn't hit. I'm doing all or nothing because e-trade charges me for each block if the buy is divided. I wonder if I shouldn't do AON?

Wanted to play VSTNQ again today but too scared. I've done that in the past, done really well on a penny stock and then gone in for a second time only to lose my entire gain.

Still have my initial 200 APWR shares that I bought at 13.61 last week, sold the other ones on Friday and used the funds to play VSTNQ yesterday.

Sitting on MVIS 1000 @ 2.34.

DDSS 500 @2.00 :-(

IMGG 2000 @ 0.50

And finally, the 200 shares of BAC that I bought way back in October when it broke 18...... I've been in and out of BAC since then but refuse to sell that lot because I don't want to record a loss. I know, that sort of thing drives people crazy.

Anyway, that's what I got. Just felt like sharing.

Hey, I would clarify with eTrade that they charge you double commissions for orders that get split. Maybe it's different for OTCs (or Grey sheet stocks as Chicken said SPNG is), but what I've been told in the past is that you only get hit with double commissions if you change a part of the remaining order after the 1st part fills. Otherwise you should not be charged commissions. Maybe it's just an eTrade thing, but I'd still check into that if you haven't already.

I too have done exactly that with penny stock gains (ahem, IMGG). Lost em all + some. I think you made the right move by holding out on VSTNQ - maybe with a bit of patience, you can grab back way lower. It didn't perform that great today after the initial surge at the open. I'm watching it too, but as of now I don't see myself dipping back in.

[chickenhead]

I started the day with 10,000 shares of VSTNQW. It climbed 20 cents at open, and I quickly put in a sell order that never executed. I watched my day's gains evaporate.

I reloaded at $0.48-0.52 and now hold 25,000 shares overnight.

Yesterday I banked $14,000 on this stock. I hope I don't give it all back tomorrow!

My SPNG has gone up 12 straight days.

[torrentio1]

I saw a consolidating market portfolio up session today.

I think the markets are on the cusp of a big bull move -BUT in my opinion we will see a little bear to tease the perma bears first... --Will post a thumbnail market analysis on the bull bear poll tonight.

Hope all did well...


;D

[commodityypro]

Mar 2, 2010 17:08:07 GMT -5 torrentio1 said:

I saw a consolidating market portfolio up session today.

I think the markets are on the cusp of a big bull move -BUT in my opinion we will see a little bear to tease the perma bears first... --Will post a thumbnail market analysis on the bull bear poll tonight.

Hope all did well...


;D

Could very well be Torrentio. Wouldn't that be something? They do ned a little pullback to suck in more shorts so the bulls can put in new highs.

I see we had our 1st guest reply, nice going Cliff!

Exalt to Timber for a nice profitable day of trading.

Good to see Chickenhead in the mix.

Made one FAZ scalp as my short order on the open filled at $17.30 and then covered at $17.04. I will continue to post S&P support/resistance #'s and will try to get them up in the am if possible.

gL!

-Commodityy

[commodityypro]

Mar 2, 2010 16:15:38 GMT -5 timber said:

bought gro too

Exalt Timber for the gro tip. I had not heard of that Chinese play. Looks very interesting. Where aer we in the trading range currently on gro?

[sloop]

holding 6000 shares of BIG from yesterday. earnings come out before the open tomorrow. no trades today

[commodityypro]

GL on that one Sloop. I would think they have weathered the storm fairly well.

[deadmoney95]

FAS bagholder here: I happily watched 'er climb over 78, cried as she fell, and then cursed the up/down, mostly down movement thereafter.

My TYH also disappointed.

But still, up a mediocre 1.2% on the day.

I agree with most that some sort of pullback seems likely but . . . just . . . can't . . . hit . . . sell. Sigh. Bagholder syndrome, I guess.

Thanks all.

[exabi]

Didn't have the stones to jump in PCX....no trades, otherwise decent up day

[kryptos2009]

Sold 20 FPM Mar 20 2010 80.0 Calls @ 2.30 (+16.46%) $650 profit
Sold too early again HOD was 2.85 with a lot of sells in the 2.75 area.

Bought 20 FEW Mar 20 2010 18.0 Call @ .65

Buy order in for:
20 FEW Mar 20 2010 18.0 Call @ .55
Filled for 2, expired EOD

Now holding 22 FEW Mar 20 2010 18.0 Call @ .6695


Expecting a small pullback in the morning tomorrow after the upward movement today.

[alphacpa]

To quote Torrentio, I had a portfolio up day today with MVIS finally showing some signs of life. Actually, two nice days in a row with unrealized gains of approximately $9K and $20K, respectively, on my 100K shares of MVIS. Really keeps the math simple, for a 1 cent move I'm either up or down $1K. Looking for MVIS to continue to move up this week into next weeks conference call where green laser supply will be key. GL to all on Wednesday.

[trading4dough]

Traded faz 3k for $.10 a share

Holding faz 1k@17.12 and drv 1k@11.80 (for fun)


have a ton of longs ........... held all

[takeprofit4]

I'm still holding as well.

[benvestor]

I'm still holding all positions from yesterday, waiting on my settlement date before making any moves in these choppy waters.

Congrats to all in on the SQNM run, i have missed it.. Maybe it still has a little momentum left with the upgrade. hrm

Just about $50 positive today, suprisingly everything mostly just balanced out,
kind of wished i had sold a little this morning..

oing to buy some spongetech soooon, although they sure have had alot of bad news in the last year.. but we trade the future right?

GL everyone!

[shipoffools]

IBD end of day comments:

Current Outlook: Market in confirmed uptrend (Day 2)

Investing
. The Big Picture
Stocks Start Strong, But Finish Weak
By VINCENT MAO
Posted 07:24 PM ET


Featured Stocks
CAAS * China Automotive Systems CAGC * China Agritech Inc CF C F Industries Holdings CTRP * Ctrip.Com Intl Ltd Adr DBRN * Dress Barn Inc FCS Fairchild Semicndtr Intl GMCR * Green Mtn Coffee Roastrs NETL * Netlogic Microsystems PAY Verifone Holdings Inc POWI * Power Integrations Inc SNDK * Sandisk Corp TRA Terra Industries Inc TSTC * Telestone Technologies * Top-Rated Company
1"
2"
3"
4"
5" First the good: Stocks rose for the third straight session Tuesday. The bad: They closed well off the session's best levels.

The NYSE composite rose 0.5% and closed above its 50-day moving average. But the index was up as much as 0.9%. The Nasdaq gained 0.3%, down from 0.8% at its intraday peak. Meanwhile, the S&P 500 edged up 0.2% and the Dow eked up a fraction.

Volume rose on both major exchanges.


View Enlarged Image
The market started off strong, thanks to more bailout optimism for Greece and more M&A news. Greek lawmakers are expected to announce new efforts Wednesday to cut its heavy debt.

CF Industries Holdings (CF) renewed its bid to buy rival Terra Industries (TRA). Terra surged 11%, while CF dipped 1%.

The dollar fell against the euro and the yen, but pared losses just before 1 p.m. EST. Stocks faded soon after that. The Dow dipped into negative territory before bouncing back a bit.

Considering Monday's follow-through session, Tuesday's fading conclusion was a letdown.

But the indexes' gains were enough to avoid a distribution day, which would have clouded the market's picture considerably. Also, some leaders fared well.

Green Mountain Coffee Roasters (GMCR) jumped 5% in more than twice its average trade. The stock cleared an 88.75 buy point from a base-on-base pattern. Thanks to strong demand for its Keurig single-serve coffee brewers and packets, earnings grew by triple digits for three of the past four quarters.

Dress Barn (DBRN) gapped up and gained 4% to its best levels in nearly four years. The stock cleared a 25.84 buy point from a six-week cup base. Late Monday, the apparel retailer reported better-than-expected fiscal Q2 results and guided full-year earnings above views.

Power Integrations (POWI) gained 2% in heavy trading. It followed through after passing a 37.25 buy point from a base Monday. The chipmaker rose for the third straight session, despite getting hit with a patent infringement suit from Fairchild Semiconductor (FCS).

Another chip stock, NetLogic Microsystems (NETL), rose 3% to an all-time high in more than twice its average trade. It cleared a five-week consolidation in early February.

But several leaders reversed lower.

SanDisk (SNDK) erased its earlier gain, closing with a slight loss despite an upgrade from UBS.

Chinese telecom gear maker Telestone Technologies (TSTC) also erased early gains and shed nearly 6% in heavy trading.

Other Chinese issues faltered. China Automotive Systems (CAAS) and China Agritech (CAGC) fell 6% and 3% respectively. They were up as much as 7% and 5%, respectively, intraday.

In after-hours news, VeriFone Holdings (PAY) dropped 7% as it reported fiscal Q1 results above views. The payment services provider also guided Q2 results at or above views.

Ctrip.com International (CTRP) fell 2% after hours. It said it filed to sell 5.7 million American depositary shares.

[tendermyshares]

Hey, I made a lot of money from VSTNQ but didn't get it from here. Careful there. I'm done with it for now and have a lot of DD on it.