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Post by cosmic on Aug 6, 2010 15:05:08 GMT -5
Kept within the 1-2% rule for Green Arrow, so it's buy the dip. I knew the impulse today was coming - you could see it from yesterday. Glad to see there were some buyers. I picked up some MPG today at 3.10, first of 3 buys most likely. Watching carefully the 3.07-2.99 area.  No other trades. I would like to buy index options, however I'm sticking with deeper ITM trades and we're too close to Opex right now. The algos are excellent at whiffling, and OTM just seem too dangerous (a la BAC lol)  That was my worst trade in this setup, cost me $60, BAC 15's for weekly expiration today, bought at .04, expired worthless. Stupid BAC.  Hope everyone made some money today and will do so on Monday. Members, please post your results along with your RDA of smileys!  |
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Post by demanuel2001 on Aug 6, 2010 15:07:48 GMT -5
Bit of a nothng day for me - up about $4k. I did a lot of trading around in circles - trying to make up my mind whether or not the drop in the Dow would get extended. Finally, it looks like it was inconclusive and we're still in a bull move. My trading in circles didnt really help much, but I did get rid of a bunch of high strike calls (long and short) that really dont suit my style. Time to relax over the weekend and plan on losing weight prior to the Queen Mary II cruise in October.
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Post by brosin on Aug 6, 2010 15:10:56 GMT -5
Blah day for me. Covered remaining ARNA short for .05 gain / breakeven. Bought MVIS $2.68, sold $2.58.  Re-shorted ARNA $7.04, covered $7.14 Bought ATEC $2.52, sold $2.50 All cash into the weekend. |
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Post by timber on Aug 6, 2010 15:12:40 GMT -5
lots of trades today
one fas trade....almost lost my cool on it but held ;D
one leap trade....i think buy the dips here no matter what
sold my vvus puts for .19 that i bought for .14 yesterday
coverd my affy the minute after open for a nice gain...even though it went up the rest of the day
all good trades no stinkers today ;D
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Post by bellevuetrader on Aug 6, 2010 15:17:14 GMT -5
No trades....prob should have pulled the trigger and covered FAS short as it hovered around $22.07-$22.11, but I DIDN'T! lol....next week I'll get a chance to make up for it...hopefully it'll be after Wed as I'll be in Cali for the 1st part of the week. GLTA and have a great weekend!
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Post by tajmahal9898 on Aug 6, 2010 15:24:16 GMT -5
One silly gamble that didn't work the way I wanted . Against my trading style, I went long 50K ATEC @2.61 when the stock was down ~40%.. Last I saw it was trading at 2.39 - down $11,000 on the gamble.. I knew nothing about the company at the time of the purchase... what a deadly mistake (irrespective of the outcome)..
ATMD was up 6 cents ~ unrealized gain of 1.8K
Net unrealized loss of 9.2K today..
Feeling silly today...
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Post by cosmic on Aug 6, 2010 15:26:39 GMT -5
One silly gamble that didn't work the way I wanted . Against my trading style, I went long 50K ATEC @2.61 when the stock was down ~40%.. Last I saw it was trading at 2.39 - down $11,000 on the gamble.. I knew nothing about the company at the time of the purchase... what a deadly mistake (irrespective of the outcome).. ATMD was up 6 cents ~ unrealized gain of 1.8K Net unrealized loss of 9.2K today.. Feeling silly today... Don't. Silly is buying at the proscribed marks only to see it continue down, buy at the next mark, only to see it continue down, buy at the next mark... etc. You didn't repeat, so you are not silly. |
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Post by snapplemoney on Aug 6, 2010 15:30:07 GMT -5
awesome day for me made 2 months of profit in one day. i am currently long gs and spy @1110. will hold for a monday i expect mon up with tues down.
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Post by sp7015 on Aug 6, 2010 15:35:22 GMT -5
Good day and good week. Portfolio is up 3% on week.
It would have been up more if I didn't make a stupid trade on FAS Aug $25 calls this week. I sold them for a loss otherwise I would have been up 5% on the week.
Day started off good.
Yesterday bought $114 SPY weekly put for $1.55 sold for for $2.60 67% gain. Wish I had more money on that trade!
Bought AAPL $250 weekly call $8.80 sold for $9.60 9% gain.
..... I was underwater on that trade at one point as the calls went to $7.55. I should have done like I did last week and sell all my aapl stock to finance more options with a tight stop. AAPL is getting pinned to $260 on friday's.
Long GS $145 Aug 13 call at 10.20. Price Target 12.20.
Long GOOG stock for gap up on Mon. Figure downside risk is low of day at 496.05.
In play for next week I will buy SWKS around 17.5-17.9 as downside is limited since they anounced an 8% share buyback.
Also in play CRUS at $19-$19.5. Their CEO is suppose to be on CNBC on Wednesday so that can be a catylist.
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Post by sloop on Aug 6, 2010 15:38:26 GMT -5
right at the open I bought BAC and sold at 14. then waited and waited no dip yet so I bought 1/3 FAS then BAM the drop...and I bought with all I had and then sold at 22.85
made a nice killing today.
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Post by tajmahal9898 on Aug 6, 2010 15:43:19 GMT -5
right at the open I bought BAC and sold at 14. then waited and waited no dip yet so I bought 1/3 FAS then BAM the drop...and I bought with all I had and then sold at 22.85 made a nice killing today. Congrats Sloop.. Today was a good day to make a lot of money.. I got distracted by ATEC |
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Post by sloop on Aug 6, 2010 15:48:48 GMT -5
thanks Taj. Hope you did well with ATEC!
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Post by maxi on Aug 6, 2010 15:56:18 GMT -5
Bit of a nothng day for me - up about $4k. I did a lot of trading around in circles - trying to make up my mind whether or not the drop in the Dow would get extended. Finally, it looks like it was inconclusive and we're still in a bull move. My trading in circles didnt really help much, but I did get rid of a bunch of high strike calls (long and short) that really dont suit my style. Time to relax over the weekend and plan on losing weight prior to the Queen Mary II cruise in October. Could please in addition to stating the cash amounts also use the percent you are up (or down). It is easier to track your progress that way. Have a great cruise across the Atlantic and see you when you return! |
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Post by sloop on Aug 6, 2010 16:01:03 GMT -5
RE:"plan on losing weight prior to the Queen Mary II cruise in October"
that sounds really cool!! lose the weight so you wont be afraid of eating all that great food.
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Post by trading4dough on Aug 6, 2010 16:08:21 GMT -5
good week
leap + 4.8%
affy + 9.1%
netted 10.6% on EFT trades this week
made 47% on a small GS $155 call
loaded some GS $155 Aug calls
have the Jazz position
bought stec again loaded nicely
looking good
closed out the week with 28% cash 72% invested
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Post by rich on Aug 6, 2010 16:32:53 GMT -5
I held my FAZ.
Poured Concrete.
My computer died last night.
I think I need the geek boys
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Post by sloop on Aug 6, 2010 16:38:55 GMT -5
I held my FAZ. Poured Concrete. My computer died last night. I think I need the geek boys just get a new computer..there cheap |
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Post by alphacpa on Aug 6, 2010 16:55:27 GMT -5
Not enough of a headache for me holding MVIS so I bought YRCW on the drop. Started to sell on the nice pop at end of day but held. Maybe this one gets legs and moves to 40 cent range next week. GL all and have a great weekend. Basically flat on the year at this point.
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Post by rich on Aug 6, 2010 17:06:02 GMT -5
I held my FAZ. Poured Concrete. My computer died last night. I think I need the geek boys just get a new computer..there cheap I was thinking the same thing Sloop. I don't even want to bother fixing it  I was reading Ayn Rand while fastopia-ing and the sucker started ticking like a time bomb. Now it says it can't find the operating system. wtf? |
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yjfang
Broker/Dealer
Posts: 525
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Post by yjfang on Aug 6, 2010 17:14:33 GMT -5
Bought FAS in the mid $22's for a day scalp. When market went down more than I had expected and believing that we see weakness for the next few days, I hedged the position by selling FAS August 13 (my first weekly option play) $23 calls for $0.51. Holding both and waiting to see what next week gives us.
Have a nice weekend everyone!
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Post by demanuel2001 on Aug 6, 2010 17:38:42 GMT -5
Bit of a nothng day for me - up about $4k. I did a lot of trading around in circles - trying to make up my mind whether or not the drop in the Dow would get extended. Finally, it looks like it was inconclusive and we're still in a bull move. My trading in circles didnt really help much, but I did get rid of a bunch of high strike calls (long and short) that really dont suit my style. Time to relax over the weekend and plan on losing weight prior to the Queen Mary II cruise in October. Could please in addition to stating the cash amounts also use the percent you are up (or down). It is easier to track your progress that way. Have a great cruise across the Atlantic and see you when you return! That's easier said than done. The really active trading portfolio (out of which most trading and all options trading is done) is an after-tax account with a little more than $400,000 in it. This is also the account from which I write checks for living expenses - (about $100,000 so far this year has been sent to my checking account). But I also have another $750,000 or so in IRAs that are invested in stocks and occasionally get traded. Then my wife and I have a similar amount in two other IRAs that are fully invested in Japanese mutual funds (I used to move this stuff from country to country and had a great compound growth rate - it's been sitting in Japan and stalled for a few years though as I seem to have lost the knack for that game). Typically I just report the results for the stock accounts. But two are pre-tax IRAs and one is after-tax (and about to wipe out past capital losses this year if I don't cherry pick at year=end). So, the percentage calculation is tricky. I'd like the after-tax account to fund my living expenses and grow - but rationally it's a tall order for a $400,000 account to fund spending of $150,000 or so a year. My wife and I are trying to cut off the pipeline of handouts to our kids - which should help. |
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alphaspeculator
Broker/Dealer
I buy high and sell low[F4:alphaspeculator]
Posts: 444
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Post by alphaspeculator on Aug 6, 2010 17:45:58 GMT -5
Cosmic,
You are incredible. Your analysis is awesome.
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alphaspeculator
Broker/Dealer
I buy high and sell low[F4:alphaspeculator]
Posts: 444
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Post by alphaspeculator on Aug 6, 2010 17:46:52 GMT -5
Cosmic,
I am getting a daily market wrap up from SwingTraderOnline.com that you should imitate:
JACK'S WRAP, Friday August 6, 2010
No One Has Control....Strong Finish For The Bulls...
by Jack Steiman, SwingTradeOnline.com
No one has control but you have to give a little nod to the bulls today for hanging in where they had to at the down trend line at S&P 500 1110. A small breach below and then a nice rocket ride back up. You're always looking for something that tells you someone is taking control. With the market at that down trend line, it was step up time for one side to take command, and for the day, the bulls did. However, no one is in control since all we're really doing is continuing to trade in a range between 1080 and 1131. Until this range is taken out with force one way or the other, there really isn't all that much to do except try to find the best set-ups and play them.
Whichever breaks first should cause a directional move for a while that should make trading a bit easier, but until we lose 1080, or blow through 1131, trading remains more difficult. Pick your spots and take things off fairly quickly, or you'll be wishing you had. The range is nearly 5% wide, thus, there's no telling how long we'll stay in it. But for now, it's a play the range strategy that needs to be respected. Don't look past it. When the break occurs, whichever way it is, then the strategy changes to a more aggressive directional approach.
This was a very interesting day. The big jobs report was on deck this morning one hour before the open of trading. The numbers came in somewhat disappointing. Not terrible, but let's call it poor. Nothing that said gloom and doom, but nothing that gave much hope for the future of employment growth. The futures weren't thrilled, and slowly but gradually, eroded until the market opened with a hefty gap down. The selling began to accelerate after the usual move back up.
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Post by maxi on Aug 6, 2010 17:47:02 GMT -5
Demanuel, I meant the percentage gain on just the trade. Not a percentage of your whole account! I am really beginning to like you. You take some getting used to but you are okay! An example would be I bought X at a certain price and sold X at a certain price. Percent gain from just that transaction. |
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Post by torrentio1 on Aug 6, 2010 17:54:35 GMT -5
awesome day for me made 2 months of profit in one day. i am currently long gs and spy @1110. will hold for a monday i expect mon up with tues down. Grey Poupon? |
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Post by torrentio1 on Aug 6, 2010 18:01:54 GMT -5
I was 'sitting' this session. Looks like it was a consolidating market down portfolio up session. I remain all in and bullish bullish bullish... Am I crazy? Well -I will take a look at the markets this weekend and see what there is to see -maybe take a look under the hood at financials (consolidating?), transports (leading?), and semiconductors (lagging?) ---what about oil?  (ready to rumble?) Hope all did well!!!! ;D ;D ;D ;D |
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Post by timber on Aug 6, 2010 18:04:59 GMT -5
Cosmic, You are incredible. Your analysis is awesome. cos is the best one out there .........i just think hes too cautious sometimes |
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Post by exabi on Aug 6, 2010 19:13:11 GMT -5
just get a new computer..there cheap I was thinking the same thing Sloop. I don't even want to bother fixing it I was reading Ayn Rand while fastopia-ing and the sucker started ticking like a time bomb. Now it says it can't find the operating system. wtf? No trades today.....didn't have the conviction to go back to the PCX well. Rich....you can probably buy a computer (less monitor) that will do what you need cheaper than having the Geeks work on it. |
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Post by blueskies on Aug 6, 2010 19:19:20 GMT -5
holding on to BGZ... I'm up a little...
sunday night session will say a lot.
GL to all
blue
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(ready to rumble?)
