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Post by cosmic on Jul 26, 2010 15:03:24 GMT -5
Another confirmation day for Green Arrow. We got a 3rd sequential count in the blue (1st sell setup) and we need to get to 9 or so. Keeping an eye on the indicator as other timeframes (weekly and monthly) continue to confirm. The FVE today crossed into positive territory on the daily - this was a critical confirmation, but also ensures we watch carefully now, as 'Smart Money' has been dragged kicking and screaming into the game. Still holding QQQQ calls. I opened a very small hedging position on HTS via some puts - this normal for me. I added an LVS long straddle at 25.60. 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 cosmic on Jul 26, 2010 15:10:31 GMT -5
I also sold my VXX puts - perhaps a little early, perhaps not. That was a scary trade.
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Post by demanuel2001 on Jul 26, 2010 15:14:27 GMT -5
Dumped my BP shares at a nice profit and rolled most of the cash into DSX. My stock-scalping in LVS has been a little off the mark the last couple of days - bought some more LVS today and watched the stock move back a few cents. Still, that all gets mitigated by the fact that I wrote some August $28 calls that are making money. (This is a first for me - all my option sales have been puts so far.) Smallish up day overall.
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Post by brosin on Jul 26, 2010 15:17:04 GMT -5
Sold VSTNQ @ .525 from .38 buy last wk for 37% Bought IMGG .30, sold IMGG .323 for 7% Bought VSTNQ @ .519, holding overnight but up 20%. Account +44% today. Sad that I can say that and say I'd still need a couple more of those to breakeven with all the penny pooper plays I've had over the past 6 months.
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Post by bellevuetrader on Jul 26, 2010 15:35:03 GMT -5
Still holding FAS short from $21.25....hope everyone is doing well and making money!
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Post by tajmahal9898 on Jul 26, 2010 15:38:19 GMT -5
I predicated baby bear for today.. boy I was wrong..
I am still holding my short CENX and QCOM positions. Even with 100+ day, CENX hardly moved. They report tomorrow AH...
No trades today, no major change in portfolio (lucky ?)
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Post by demanuel2001 on Jul 26, 2010 15:44:45 GMT -5
I think we're in for a lengthy bull run Cos (possibly with a few meaningless small down days thrown in there just for grins)
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Post by torrentio1 on Jul 26, 2010 15:49:01 GMT -5
I am still holding my short CENX and QCOM positions. Even with 100+ day, CENX hardly moved. They report tomorrow AH... Taj, Both look technically bullish to me... Do you short premised upon fundamentals and or potential earnings reactions?
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Post by timber on Jul 26, 2010 15:49:19 GMT -5
one somx trade one bidu trade one ford trade....holding vxx,,,faz,,,vvus and arna short
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Post by cosmic on Jul 26, 2010 15:59:32 GMT -5
I think we're in for a lengthy bull run Cos (possibly with a few meaningless small down days thrown in there just for grins) Well, IF it plays, the conditions are right. A nice low volume market for the Fed to cheaply do it's thing.
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Post by commodityypro on Jul 26, 2010 16:19:45 GMT -5
It's really sad when all we talk about about is PPT, algos, comps, HFT, and the entire manipulative game that has become the stock market. This whole ponzi scheme is going to hurt the market more in the long run than it's helping it now. They have already lost a generation of investors that would rather put their money in less risky assets, even if it means they have to sacrifice some return.
I am now 80% cash as I sold some TBT and DRV today. I will not get caught in the mess that looks like could be a repeat of last year. July 09' we saw almost the exact thing happen as what could be happening again now and that means super low daily volumes, dollar down, economy stinks, yet the stock market marches on. I will wait it out this time until I get back short when the market realizes it's jumped too far ahead and comes down off the sugar high. Corporate profits won't be able to be sustained with the slowing growth we are starting to see, not unless these CEO's plan on taking further pay cuts. Still holding some TBT, DRV, all my AFL and ARNA. For now this is just a boring market to me so I will focus on the real $$ making with work.
GL!
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Post by torrentio1 on Jul 26, 2010 16:36:44 GMT -5
I saw a very juicy market up portfolio up session. There are many bullish setups out there ripe for the picking... I remain bullish and remain all in. Hope all did well!!! ;D ;D ;D ;D
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Post by commodityypro on Jul 26, 2010 16:39:23 GMT -5
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Post by tajmahal9898 on Jul 26, 2010 16:57:11 GMT -5
I am still holding my short CENX and QCOM positions. Even with 100+ day, CENX hardly moved. They report tomorrow AH... Taj, Both look technically bullish to me... Do you short premised upon fundamentals and or potential earnings reactions? Torrentio, As you know, CENX is tied to the metal spot price, if you chart the AL spot prices, you would see there has not been a significant movement there. Range is still around 85-95 cents. For CENX to beat the expected earning numbers, they have to seriously cut down costs - I doubt they will get a lot of help from the top line...The stock has gone up str8 in last 5 days - IMHO the movement in stock already reflects potential good news. Also, I might be emotionally attached as I sold 30K shares at 10.12 ... trying to get back 50 cents by shorting it -- wouldn't add at this price level.. QCOM is a different story -- risk/reward was not in my favor - so shorted 1K at 37.7 and then averaged down by shorting another 4K at 39.5 range.. I am not worried about QCOM running away from me -- can manage 5K...
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Post by bellevuetrader on Jul 26, 2010 17:00:17 GMT -5
Funny you mention that Commod....Here I am sitting on 98% short FAS position...wondering if I should cut and bail before they run it back to it's high's of the year...only down about 7% which isn't bad, but I don't want to get stuck down 17% and then 25%...we know how that game goes...lol
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rebel
Broker/Dealer
Tried & True
Posts: 434
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Post by rebel on Jul 26, 2010 17:10:48 GMT -5
bought SGY & PCX Fri. still holding PCX reports in the morn. i may get killed only up .59 per share in PCX scalped SEED .44 ;D HEAT .37 ;D lost .04 in FEED still cautious SCARED GLTA
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Post by timber on Jul 26, 2010 17:12:40 GMT -5
not me im a comfortable bull now everything over the 200 now
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Post by ask2lern on Jul 26, 2010 17:14:02 GMT -5
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Post by timber on Jul 26, 2010 17:19:59 GMT -5
why do you exalt cos every day on this thread
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Post by commodityypro on Jul 26, 2010 17:26:15 GMT -5
Funny you mention that Commod....Here I am sitting on 98% short FAS position...wondering if I should cut and bail before they run it back to it's high's of the year...only down about 7% which isn't bad, but I don't want to get stuck down 17% and then 25%...we know how that game goes...lol I know you know about what happened last year. I remember it like yesterday. I was going on vacation the week prior to July 4th for my brother's wedding. FAS/FAZ was about to split and I was up 15% in FAZ. Then after the split , WHAM, FAZ goes on the longest losing streak ever and goes from something like $6 pre-split to less than $2 in less than 6 months. Hell look at it now, it's pre-split price is a mere $1.36 now.. lol I was so pissed because I the only day I was able to be on the computer I had my finger on the trigger about to sell FAZ at $6 and didn't and then sold at a later date at a loss of like 60%, OUCH! So yes, I know the pain and will not be a bagholder again. I've worked hard enough in 2010 to get back most of my 09' losses. Let's see how tomorrow pans out and if we march further above the S&P 200ma of 1115. GL buddy!
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Post by exabi on Jul 26, 2010 17:44:41 GMT -5
Had a buy on PCX at 13.44 that did not fill........we'll see if that was fortuitous or not.
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Post by torrentio1 on Jul 26, 2010 17:59:06 GMT -5
Torrentio, As you know, CENX is tied to the metal spot price, if you chart the AL spot prices, you would see there has not been a significant movement there. Range is still around 85-95 cents. For CENX to beat the expected earning numbers, they have to seriously cut down costs - I doubt they will get a lot of help from the top line...The stock has gone up str8 in last 5 days - IMHO the movement in stock already reflects potential good news. Also, I might be emotionally attached as I sold 30K shares at 10.12 ... trying to get back 50 cents by shorting it -- wouldn't add at this price level.. QCOM is a different story -- risk/reward was not in my favor - so shorted 1K at 37.7 and then averaged down by shorting another 4K at 39.5 range.. I am not worried about QCOM running away from me -- can manage 5K... Thanks. For the hell of it, I will post some charts and thoughts on these two this evening...
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Post by tajmahal9898 on Jul 26, 2010 18:07:02 GMT -5
thanks Torrentio..
Here are the pivot points for CENX..
Resistance 3: $11.78 Resistance 2: $11.28 Resistance 1: $11.01 Pivot Point: $10.51 Support 1: $10.24 Support 2: $9.74 Support 3 $9.47
I am short right at pivot.
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Post by puurfectten on Jul 26, 2010 18:15:47 GMT -5
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Post by jack on Jul 26, 2010 18:39:12 GMT -5
Had a buy on PCX at 13.44 that did not fill........we'll see if that was fortuitous or not. Massey's reporting earnings tomorrrow...guess we'll see. What's the status of the energy legislation which API has a lotta PR out about fossil fuel energy companies being taxed $Bs unfairly? Chances of passing?
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Post by alphacpa on Jul 26, 2010 19:09:49 GMT -5
Sold 5000 FAS for moderate gain and purchased 8280 SOMX.
Sold 60000 MVIS for small gain
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Post by exabi on Jul 26, 2010 19:11:32 GMT -5
Had a buy on PCX at 13.44 that did not fill........we'll see if that was fortuitous or not. Massey's reporting earnings tomorrrow...guess we'll see. What's the status of the energy legislation which API has a lotta PR out about fossil fuel energy companies being taxed $Bs unfairly? Chances of passing? PCX reports tomorrow also
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Post by cosmic on Jul 26, 2010 19:11:44 GMT -5
Oh I saw you sittin' on MVIS all day there mr AlphaCPA and was gonna post something about it... but I didn't want to freak you out. ;D
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Post by cosmic on Jul 26, 2010 19:13:32 GMT -5
It's really sad when all we talk about about is PPT, algos, comps, HFT, and the entire manipulative game that has become the stock market. This whole ponzi scheme is going to hurt the market more in the long run than it's helping it now. They have already lost a generation of investors that would rather put their money in less risky assets, even if it means they have to sacrifice some return. I am now 80% cash as I sold some TBT and DRV today. I will not get caught in the mess that looks like could be a repeat of last year. July 09' we saw almost the exact thing happen as what could be happening again now and that means super low daily volumes, dollar down, economy stinks, yet the stock market marches on. I will wait it out this time until I get back short when the market realizes it's jumped too far ahead and comes down off the sugar high. Corporate profits won't be able to be sustained with the slowing growth we are starting to see, not unless these CEO's plan on taking further pay cuts. Still holding some TBT, DRV, all my AFL and ARNA. For now this is just a boring market to me so I will focus on the real $$ making with work. GL! I was actually shocked when I read this. Why would you not trade the market you are given? I mean you're actually grumbling you didn't get enough doom.
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Post by alphacpa on Jul 26, 2010 19:23:11 GMT -5
Hi Cos. Actually I traded right under that large order. Not sure who that was but I decided sort of spur of the moment to reduce my exposure to MVIS- still hold 90K shares which is probably too many shares.
What a year. Up a whopping 9.10% but feels like a loss due to the work put in! GL tomorrow.
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