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Post by cosmic on Aug 11, 2010 15:05:54 GMT -5
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Post by demanuel2001 on Aug 11, 2010 15:10:27 GMT -5
Mean day for me today - down over $60k - looking at it objectively I am back to where I was at the start of the month - nothing to panic over (yet). Scalped some LVS, got longer LVS stocks, sold some Aug $26 puts and Aug $28 calls.
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Post by sloop on Aug 11, 2010 15:16:20 GMT -5
sorry to hear that demanuel. Hope the market can hold up here. sold my BAC before open and went long FAZ sold it all at the close.
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Post by demanuel2001 on Aug 11, 2010 15:20:13 GMT -5
No sweat sloop! Can't make money selling options without a little volatility to encourage people to buy them.
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Post by timber on Aug 11, 2010 15:25:15 GMT -5
i really screwed up early and bought fas...as soon as i saw what they were up too i sold it and sat then bought tza and scalped that.......
at the end i shorted faz some more......no other trades....down day still for me...oh yea i bought dgp again....thats it
someone is shorting a lot of faz with the broker i use...so be careful faz holders
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Post by ask2lern on Aug 11, 2010 15:30:29 GMT -5
I opened a SPY 112 PUT position this am and avgd into it selling for a +23% ..................did add to my AIB position this is a swing trade for me .......................Still holding SDS, AIB and Cash in trading account.........in addition to the very few longs I still hold in mt LT accounts I am still holding SH.........I was very tempted to play the 110 SPY PUTS at the close you could buy for 1.95 and could have sold @ 2.12 just at the 4:14--4:15 bell......................Looking at VOL the 110's were the "traders choice" for trading today IMO..............when that happens on a day like this and you have company like CSCO reporting you can often times get a quick scalp in...............I did not play because I am really trying to be DISCIPLINED......but fun to watch..............my SPY Call trade yesterday even though ended up positive was a "slip" as far as I am concerned......I had to sentence myself to 15minutes of self criticism ........exalt for Cos......................Live to trade another day...................GLTA
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Post by kingdisco on Aug 11, 2010 15:46:37 GMT -5
Thought i'd pop in and say hello. Hope all are well.
Euro started tanking early at the Asian Session Open yesterday retracing the pop from the fed announcement. (8pm Eastern Time.) Maybe a warning signal? I couldn't help think the trend was down with that reversal for euro.
But for the euro to have big drops like today it has to steadily sell through several sessions. Which it did today. Prolly lost at least .01 cent through each of today's session.
Asian European NY session all bearish. Not good. But a drop this fast is quiet scary. Considering how shitty the dollar is.
At most i'm expecting a consolidation rise to maybe 1.2913-50 area.
At worst i'm expecting another straight drop in the euro.
King
ASK2LRN on a side note. There' was a rumor swirling that an Irish bank had to ask the ECB to buy some of its debt. Lol RUMOR. gl. as you trade the irish banks.
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Post by ask2lern on Aug 11, 2010 15:52:42 GMT -5
Thought i'd pop in and say hello. Hope all are well. Euro started tanking early at the Asian Session Open yesterday retracing the pop from the fed announcement. (8pm Eastern Time.) Maybe a warning signal? I couldn't help think the trend was down with that reversal for euro. But for the euro to have big drops like today it has to steadily sell through several sessions. Which it did today. Prolly lost at least .01 cent through each of today's session. Asian European NY session all bearish. Not good. But a drop this fast is quiet scary. Considering how shitty the dollar is. At most i'm expecting a consolidation rise to maybe 1.2913-50 area. At worst i'm expecting another straight drop in the euro. King ASK2LRN on a side note. There' was a rumor swirling that an Irish bank had to ask the ECB to buy some of its debt. Lol RUMOR. gl. as you trade the irish banks. Thanks I am playing AIB only and I play it from the chart so I could get smoked at some point......................glad to see you stopped by I had thought you left us..............I miss your regular participation .......................but I know when you need a break you need a break................hope all is going well and hope to see you around...................GLTY
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Post by jack on Aug 11, 2010 15:57:30 GMT -5
Hiya King - we need you back to help keep all the rabid political pundits at bay! lol rotf!!! ;D
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Post by jack on Aug 11, 2010 16:00:08 GMT -5
Patriot Coal down to 11.26 holy moley.
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Post by Rich on Aug 11, 2010 16:14:28 GMT -5
We shut it down early today because of the heat, so I had a chance to trade. But I didn't. It looks bad. oh so bad. Which means probable green day tomorrow.
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Post by tajmahal9898 on Aug 11, 2010 16:17:35 GMT -5
Bad day to be away from trading station.. not sure what I would have done differently if I was online..
Unrealized loss of 29K today... overall down 58K on AMAT and ATEC.
no trades.. had I not sold my long SDP calls last week, I would have been up 100%.. another woulda/coulda/shoulda...
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Post by Rich on Aug 11, 2010 16:19:34 GMT -5
Impulsively down day - they were disguising them and last night I pondered another set today and voila! Ah well. Green Arrow is still green, but the sequential is still not in favor of the bulls. Today was a tough dip buy - The Chart had lots of things close near LOD. However, that being said, I did add to my MPG position, and started a JAZZ position with a fun option setup. Details can be found by clicking the pretty picture along with charts and commentary: wow, that's cool, Cos! We have the best board, no doubt in my mind. Salute and bow in your honor, sir! 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 Rich on Aug 11, 2010 16:31:23 GMT -5
So many, Jack. HPQ is at 40. I almost dipped a toe in.
Almost.
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Post by theMIST on Aug 11, 2010 16:46:35 GMT -5
Was holding 2K shares FAS. Cut my losses fast and sold a few minutes after opening. No other trades. Had to run errands in afternoon. All Cash.
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Post by Rothschild on Aug 11, 2010 17:02:12 GMT -5
Vicious day... 2% moves + or - really scares the chit out of me because it indicates the calling card of the Grizzly bear. from 1980 until 2000 2% moves were extremely rare even in 1999 nasdaq we had very few 2% moves then in 2008 they occured almost on a daily basis. the last time 2% moves were considered normal was the great 1929 bear. I was stopped out of Financial and semi plays at the open for a quick 5% loss and am all cash. We may have another two days of selling to go. tough area here. I thought for sure we would see 1150 but it was not to be. Im really kickin myself for not hitting up 3x etf bear funds. Will look to go long within 48 hrs.
Hope everyone did better than me today.
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Post by givememilion on Aug 11, 2010 17:08:30 GMT -5
Lost 8 K in last two days .. poorest trade ever. almost nothing WAS hedged.. day after the fed announcement are known for this kind of actions .. and the correction way overdue.. lets start the run now.. again we might move up very soon .. expecting by Friday we recover 2% from the losses and may be touhcing around 1170 by end of the month...
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Post by torrentio1 on Aug 11, 2010 17:14:17 GMT -5
Today was a tough dip buy Oh -is that what its called? I was thinking something more along the lines of -a bend over, here it comes again session...
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Post by jack on Aug 11, 2010 17:15:25 GMT -5
Today was a tough dip buy Oh -is that what its called? I was thinking something more along the lines of -a bend over, here it comes again session... Careful...in some circles that would be appreciated!
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Post by givememilion on Aug 11, 2010 17:15:30 GMT -5
Only one thing I can guess from today's move.. Fed knows something which we don't know. what we can expect from this?
Guys kept the long term portofolio but bought put against it to make them protected.. I would wait for a follow-up down day to confirm it.
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Post by torrentio1 on Aug 11, 2010 17:24:55 GMT -5
Took the session off --I have yet to look at the market in any depth. Obviously it was a market down portfolio down session... So, other than machines accelerating this -what exactly drives this? As far as the idiots in Washington DC that drive recovery into the toilet --have we reached the Charlton Heston moment yet? Anyway, Hope all did well -as well as possible!!!! ;D ;D ;D ;D
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Post by theMIST on Aug 11, 2010 17:31:18 GMT -5
LMAO Torr
What a classic movie!
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Post by timber on Aug 11, 2010 17:50:54 GMT -5
there is no real support anymore if they want to take it down they will....if 1050 breaks this time im out for good again ;D
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Post by brosin on Aug 11, 2010 17:57:41 GMT -5
Went from all cash to barely all cash. Dipped into a starter FAS position $21.48 - planning on 3-5 buys for 4-8 wk trade. Won't mind if we go lower for my other buys.
And I think we are going lower - no FOMC new high = angry Brosin Kenny Bear. Changed my avatar to match that. Let's see where we can find some support! I don't mind buying cheaper. I still see alot of things I'd like to buy.
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Post by Rich on Aug 11, 2010 18:02:47 GMT -5
Went from all cash to barely all cash. Dipped into a starter FAS position $21.48 - planning on 3-5 buys for 4-8 wk trade. Won't mind if we go lower for my other buys. And I think we are going lower - no FOMC new high = angry Brosin Kenny Bear. Changed my avatar to match that. Let's see where we can find some support! I don't mind buying cheaper. I still see alot of things I'd like to buy. It was hard not to spend some dough today, everything looked so cheap!
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Post by timber on Aug 11, 2010 18:06:02 GMT -5
I Did short some more faz today....but i dont trade that just sit on it
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tfkness
Commodities Trader
Posts: 107
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Post by tfkness on Aug 11, 2010 18:10:38 GMT -5
I saw it coming last night and rode the FAZ I was holding from last week for a cool 10%, turning a 1/3 loss to a 2/3 profit... Thanks Obama!
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Post by exabi on Aug 11, 2010 18:23:02 GMT -5
Bought some HTS for LT hold and divy....I'm up .02 from my buy this morning. Watch a lot of my fav's, did not buy any, including PCX.
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Post by brosin on Aug 11, 2010 19:53:32 GMT -5
Went from all cash to barely all cash. Dipped into a starter FAS position $21.48 - planning on 3-5 buys for 4-8 wk trade. Won't mind if we go lower for my other buys. And I think we are going lower - no FOMC new high = angry Brosin Kenny Bear. Changed my avatar to match that. Let's see where we can find some support! I don't mind buying cheaper. I still see alot of things I'd like to buy. Whoops I'm an idiot. That should've read "Went from all cash to almost all cash."
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Post by brosin on Aug 11, 2010 19:54:44 GMT -5
Bought some HTS for LT hold and divy....I'm up .02 from my buy this morning. Watch a lot of my fav's, did not buy any, including PCX. I'm watching it to do the same Dave - I think I'll have to wait at least a month or 2 to try and catch it close enough to ex-div but not too close to where it's too late to get it cheap. Cos, have they announced when it goes ex-div?
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