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Post by cosmic on Jul 22, 2010 15:06:35 GMT -5
Wooooo nice up day. Kind of fitting given the depression of yesterday at what looked like a failed setup leading to a very bearish outlook. It's that feeling that your read on the charts is just completely wrong. As of the close, right now, the Green Arrow setup is confirmed. I talk about this setup pretty thoroughly in my SPY Chart posting and will continue to post updates.  This is a mechanical trade, against the prevailing wisdom, that says buy the dips that the trend has reverted back. This will be true, of course, until it fails, so play at your own risk. When the thing says sell, you sell. It's mechanical.  I sold remainder of Q calls today, the 44's, for a nice profit although holding would have yielded quite a bit more. To make up I bought some 46's (just a few) on one of the dips. I continue to hold my MPG, and am looking at a few things on pullback but mostly will be concentrated around stocks that move with the index, or will play the indexes themselves.  I also noticed junk stocks got some money today. If this is the start of liquidity re-entering the market then speculative plays might come back. It needs to be monitored very carefully. I do not recommend junk stock plays, although MPG might actually qualify ;D 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 Clinton SPX on Jul 22, 2010 15:07:09 GMT -5
My ass is sore, nuff said
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Post by brosin on Jul 22, 2010 15:09:45 GMT -5
Fricken 1.77 points off in the Dow. Talk about a blind squirrel call.
No trades - sellers regret on the Magical Ray Gun but at least VSTNQ finally went lime green at the close. You still holding that doomy short on IMGG Cosmo?
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Post by jack on Jul 22, 2010 15:09:59 GMT -5
My ass is sore, nuff said You got tomatoes "coming out the whazoo" too? lol!!! |
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Post by cosmic on Jul 22, 2010 15:10:08 GMT -5
Sorry to hear Clint. I know the bearish mood was definitely prevailing, I felt it too (a la last night's poll). I have to play Green Arrow so I'm sorry we're on opposite sides here.
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Post by cosmic on Jul 22, 2010 15:10:47 GMT -5
Fricken 1.77 points off in the Dow. Talk about a blind squirrel call. No trades - sellers regret on the Magical Ray Gun but at least VSTNQ finally went lime green at the close. You still holding that doomy short on IMGG Cosmo? You come grab 'em from me at .33 ;D |
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Post by brosin on Jul 22, 2010 15:11:33 GMT -5
I should've just held from .21! 20% was NOTHIN - I'm still down a ton on it for the year.
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Post by tajmahal9898 on Jul 22, 2010 15:12:26 GMT -5
decent day - only one trade
closed out CENX position at 10.12 -- 30 K shares -- ~33K profit or ~11% in around a week..
97% cash, except short 1K position in QCOM - down ~1.4K right now..
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tfkness
Commodities Trader
Posts: 107
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Post by tfkness on Jul 22, 2010 15:15:26 GMT -5
I'm totally confused now! From what I have seen so far, the Europe Bank stress tests are not going to come out bad so I would assume we go up.... however, bad unemployment and housing numbers usually mean go down so who the hell knows. We're through the looking glass now....
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Post by bellevuetrader on Jul 22, 2010 15:15:29 GMT -5
Holding my short FAS position...at $21.25...
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Post by jack on Jul 22, 2010 15:16:29 GMT -5
I'm totally confused now! From what I have seen so far, the Europe Bank stress tests are not going to come out bad so I would assume we go up.... however, bad unemployment and housing numbers usually mean go down so who the hell knows. We're through the looking glass now.... Earnings trump bogus reports |
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Post by jack on Jul 22, 2010 15:19:27 GMT -5
I'm totally confused now! From what I have seen so far, the Europe Bank stress tests are not going to come out bad so I would assume we go up.... however, bad unemployment and housing numbers usually mean go down so who the hell knows. We're through the looking glass now.... Earnings trump bogus reports MSFT Beat |
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tfkness
Commodities Trader
Posts: 107
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Post by tfkness on Jul 22, 2010 15:21:37 GMT -5
Jack - apparently so! Today at least.... wasn't it the other way around like 2 days ago? Like I said, I'm confused now... LOL!
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Post by jack on Jul 22, 2010 15:25:33 GMT -5
Jack - apparently so! Today at least.... wasn't it the other way around like 2 days ago? Like I said, I'm confused now... LOL! LOL!!! ...know whatcha mean tfkness: me too! But in my case its congenital. LOL! ;D |
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Post by demanuel2001 on Jul 22, 2010 15:29:34 GMT -5
Repeated the Tuesday story - Huge up day made about the same as on Tuesday (which was twice what I lost yesterday) - put on some more short LVS Aug $23 puts. Scalped some more lVS stock - ended the day slightly longer LVS stock. Great week so far.
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Post by ask2lern on Jul 22, 2010 15:29:47 GMT -5
Well I was going to play Calls today but waited for a dip that never came  ........................so instead when we got real lofty and I saw the vix was higher later in the day compared to same SPY price earlier I decided it was time to buy SPY 107 PUTS and SDS.......both green at the moment......I almost sold them but decided to hold ...............poor discipline on my part and I may be reminded of that in short (no pun intended) order ....................other them that AIB went up still holding......................I am really starting to wonder if the new weekly options have anything to do with this yo-yo market .............................Exalt for Cos...................Live to trade another day.....................GLTA Oh and gold did cross above 1200 but I did not clarify that in the bet with Clem so I will wait for the close above before I claim my karma ;D ;D |
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Post by tajmahal9898 on Jul 22, 2010 15:30:50 GMT -5
btw, F5 FFIV might be a good candidate for a short term short.. it was up 14% today...
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Post by ask2lern on Jul 22, 2010 15:34:53 GMT -5
My ass is sore, nuff said Well at least it is just your ass at this point......................back a few months I had something else hurting really bad as a result of a 14 day winning streak on the SPY.....(ask Jack or King to send you the photo LOL)................I will give you a clue..........I have two of them ;D ;D.......................As long as you are not in options I think it is just a matter of time.................I do feel for you and sorry to hear things are not going your way at the moment................just give it a day or so in these whipsaw markets ......................GL |
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Post by commodityypro on Jul 22, 2010 16:16:38 GMT -5
Bought more DRV, avg now $32.50. I hear that the main reason for the jump today was that the Europe PMI report came out and was much better than expected. Green Arrow could cause me to follow the leader (Cos) this time. Don't know really anything about it but the shear fact that it's called Green Arrow has me spooked to be short.  The last thing I need is to look back on 2010 and remember I got shot by a Green Arrow and got washed out of my shorts. lol  |
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Post by clemsontygr on Jul 22, 2010 16:32:58 GMT -5
Well I was going to play Calls today but waited for a dip that never came ........................so instead when we got real lofty and I saw the vix was higher later in the day compared to same SPY price earlier I decided it was time to buy SPY 107 PUTS and SDS.......both green at the moment......I almost sold them but decided to hold ...............poor discipline on my part and I may be reminded of that in short (no pun intended) order ....................other them that AIB went up still holding......................I am really starting to wonder if the new weekly options have anything to do with this yo-yo market .............................Exalt for Cos...................Live to trade another day.....................GLTA Oh and gold did cross above 1200 but I did not clarify that in the bet with Clem so I will wait for the close above before I claim my karma ;D ;D I think were are all straight .... on the close bud....:-) (But it ain't looking good for the home team) fastopia.proboards.com/index.cgi?board=exchange&action=display&thread=6017&page=2 |
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Post by torrentio1 on Jul 22, 2010 17:26:40 GMT -5
I saw a market up portfolio up session. ;D I remain all in and remain bullish.... I will have to review my portfolio and potentially remove some dead money and or loser dogs -maybe I do this tomorrow... Overall things look peachy for the bulls --although US markets lag considerably the price action associated with news that EuroZone Armageddon was postponed --they will eventually recouple with much catching up to do. Meanwhile EUR/USD completed a successful backtest and now in a confirmed breakout from a long term pattern. The US leader, Transports moved above the magical 4250ish level and closed decisively above the 50 Day SMA for the first time since May 13th now at 1st stage breakout pending 2nd stage confirmation. Much more good stuff to see BUT I am lazy right now... Hope all did well!!! ;D ;D ;D ;D |
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Post by deadmoney95 on Jul 22, 2010 17:35:39 GMT -5
I will have to review my portfolio and potentially remove some dead money and or loser dogs -maybe I do this tomorrow... you come near me i'm sicc'ing jack on you! ;D |
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Post by exabi on Jul 22, 2010 18:07:36 GMT -5
Still holding my glub SPY AUG 107 Puts...very small position. No other trades today. Checked in on the BP YMB....saw that Scotty was giving advice on proper cleansing of the male solid waste orifice. I left quickly and hopefully did not leave any foot tracks or fingerprints. God has that MB gone to sh1t.
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Post by exabi on Jul 22, 2010 18:09:58 GMT -5
I will have to review my portfolio and potentially remove some dead money and or loser dogs -maybe I do this tomorrow... you come near me i'm sicc'ing jack on you! ;D Or BOBO, he is probably a little PO'd and looking for revenge. |
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Post by jack on Jul 22, 2010 20:44:35 GMT -5
I saw a market up portfolio up session. ;D I remain all in and remain bullish.... I will have to review my portfolio and potentially remove some dead money and or loser dogs -maybe I do this tomorrow... Overall things look peachy for the bulls --although US markets lag considerably the price action associated with news that EuroZone Armageddon was postponed --they will eventually recouple with much catching up to do. Meanwhile EUR/USD completed a successful backtest and now in a confirmed breakout from a long term pattern. The US leader, Transports moved above the magical 4250ish level and closed decisively above the 50 Day SMA for the first time since May 13th now at 1st stage breakout pending 2nd stage confirmation. Much more good stuff to see BUT I am lazy right now... Hope all did well!!! ;D ;D ;D ;D Here's one for you Torrie! |
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Post by PoorHomey on Jul 22, 2010 20:54:58 GMT -5
Just my luck...  Out of 500 components in the S&P 500, my only holding came in DEAD LAST. -8% and a new 52 week low.  |
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Post by torrentio1 on Jul 22, 2010 21:07:13 GMT -5
Here's one for you Torrie! Not bad. Now he needs to take his parrot beyond the plain vanilla level of mediocrity to the grey poupon level of excellence by instructing the parrot in such tricks as market scan, chart annotate, chart pattern recognition, and brew coffee... |
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Post by jack on Jul 22, 2010 21:15:35 GMT -5
Just my luck... Out of 500 components in the S&P 500, my only holding came in DEAD LAST. -8% and a new 52 week low. I dunno what it is , but I'm absolutely certain I have some of that as well. |
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Post by sp7015 on Jul 22, 2010 21:22:25 GMT -5
Sold 20 shares aapl stock at $256.49 and bought 3 contracts of the weekly $250 calls for $7.20. did this at 09:45 am.
Thought aapl would take off and I was disappointed that it wouldn't go through $260.
Ended up closing the weekly calls at $9.40 a contract. I left .60 a contact on the table as I could have sold them for $10 a contract earlier in the day. Trade at 1:33 pm
Used the $638 profit from that trade to by 4 contracts of the SPY 110 puts for $1.70 a contract.
Still have a decent long position aapl stock.
Hopefully the puts will not bite me in the rear.
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........................so instead when we got real lofty and I saw the vix was higher later in the day compared to same SPY price earlier I decided it was time to buy SPY 107 PUTS and SDS.......both green at the moment......I almost sold them but decided to hold 
