|
|
Post by cosmic on Aug 23, 2010 15:02:06 GMT -5
Baby bear it is! Right before this impulse down wave, I was IM'ing with T4D and I said we have a bad divergence between the Dow and Nasdaq - Nas was down 12 but Dow was up 20. I said it's gotta work through one way or the other, but that would put the Dow at -48 on the close if the 4:1 ratio of Dow move to Nas move held (that's what it's been lately.)  And voila!  Green Arrow is feeling very endangered down here, and shows 1057 as the drop dead so the head fake down will be around that area lol. I hope. I have included my JAZZ trade here in my blog (click the pretty picture):  I made a little chart for you JAZZ, since I had some extra time today:  What was a perfect setup became a natural disaster when OCC and TDA decided to stuff the short-puts on me. I ended up 2X the position in a falling knife. And, I sold at the mid-point of the move today (don't want to be long), and 4 minutes after I posted the exit trade, JAZZ started a .20 jump, which would have been nice. I bought 7.50 calls as protection, but I strongly feel those will whiffle. All in all, the JAZZ trade, while slated for total success, was a total failure. I learned about option exercising on a halted stock during opex ;D Hope everyone made some money today and will do so tomorrow. Members, please post your results along with your RDA of smileys!  |
|
|
|
Post by bellevuetrader on Aug 23, 2010 15:06:06 GMT -5
lol! too funny Cos...glad you made it out alive!
Bought FAS at $18.90 and $19.05......sold at $18.75. Small loss.
Shorted DRV at $30.00....1/2 position. Will add more if I must! Risky play eh?
|
|
|
|
Post by demanuel2001 on Aug 23, 2010 15:07:45 GMT -5
bad day for me - made worse by my putting on more bad positions. Not counting my mutual fund portfolio (which is probably down anothe $10k) I'm down about $24k. Did wrte some Sep LVS puts and calls which have nice time decay as long as the stock does not move too far too fast.
|
|
|
|
Post by sp7015 on Aug 23, 2010 15:08:41 GMT -5
got out of my fas weekly calls. I should have sold in the am. Ended up with small loss.
Bought SPY 108 weekly putts. Up 10% in them. small position though.
Portfolio overall down for the day with the long calls im holding.
|
|
|
|
Post by Rothschild on Aug 23, 2010 15:13:50 GMT -5
Well I didnt like the action at all today. Dumped financial and techs eeked out a 1% gain for the day. INTHEMONEYSTOCKS.COM said 107.50s would be vital and as soon as it broke, the sellers took control. Im contemplating jumping short in the AH session. Hope everyone did great today  |
|
|
|
Post by timber on Aug 23, 2010 15:16:17 GMT -5
3 jazz put trades
1 bac call trade.......covered vxx short thats it for me
|
|
|
|
Post by cosmic on Aug 23, 2010 15:20:07 GMT -5
Well I didnt like the action at all today. Dumped financial and techs eeked out a 1% gain for the day. INTHEMONEYSTOCKS.COM said 107.50s would be vital and as soon as it broke, the sellers took control. Im contemplating jumping short in the AH session. Hope everyone did great today There could be some short-trade money, I show 105.6 on SPY as drop-dead. We may touch that overnight with the Mini. My absolute biggest concern is everything is setup for a 300pt. drop and from there it doesn't stop. For a while. |
|
|
|
Post by puurfectten on Aug 23, 2010 15:34:03 GMT -5
well..that played out about exactly as expected... ..dow should touch 10k sometime tomorrow..well..unless something changes of coarse..  |
|
|
|
Post by trading4dough on Aug 23, 2010 15:38:22 GMT -5
Traded tna was up nicely they poof it waz gone ended up losing $0.26
In looking at the waves from 1010-1129 we saw it in 3 waves, now in theory we completed wave 2 down 3 kicked off today
If it is 3 then tomorrows open would get crushed hard snapping thru all support
Now if you see a scenerio where say tonight the Nikkei closes sub 9065 and you see IWM crash thru the $60 level you want to be very carefull short term
Very very carefull
Dont expose yourself to buying big positions and use and respect stops
|
|
|
|
Post by tajmahal9898 on Aug 23, 2010 15:53:40 GMT -5
No trades today.
couldn't find a decent entry price..
|
|
|
|
Post by Rothschild on Aug 23, 2010 16:01:43 GMT -5
Well I didnt like the action at all today. Dumped financial and techs eeked out a 1% gain for the day. INTHEMONEYSTOCKS.COM said 107.50s would be vital and as soon as it broke, the sellers took control. Im contemplating jumping short in the AH session. Hope everyone did great today There could be some short-trade money, I show 105.6 on SPY as drop-dead. We may touch that overnight with the Mini. My absolute biggest concern is everything is setup for a 300pt. drop and from there it doesn't stop. For a while. Cos, I am seeing the same thing; 105.60s fail, lots of sells will trigger sending it to another test 102s which is the 50% retracement that fails, we will see 95s on the Spy. There appears to be a buyers strike in addition to buyers remorse. |
|
|
|
Post by ask2lern on Aug 23, 2010 16:02:44 GMT -5
|
|
tfkness
Commodities Trader
Posts: 107
|
Post by tfkness on Aug 23, 2010 16:05:40 GMT -5
I called the high and low almost right on.... for once (snicker)... getting better at this... anyhow, I made about $800 riding FAZ down the backside of that early morning swell.... all cash now.... more bad news coming tomorrow and the rest of the week I'm afraid... stay out of anything BULL weighted until Nov 2nd...LOL... unless the BUSH tax cuts get extended....
|
|
|
|
Post by tajmahal9898 on Aug 23, 2010 16:47:33 GMT -5
Hi all....................well as always first day back after week off hectic at the office.....................vacation was good except MY BOAT SUNK  .................got the water out and got her floating again now at the shop trying to get the motor running  ...........it was tied to the dock and over taken by vicious waves.............the best part is it supposed to be an "unsinkable" boat................anyway nice to get away but better to be back..........................Got one nice SPY PUT scalp in this am............ 100 SPY 107's +16.7% .....................looks like it was a beautiful trading day but not so good for the mkts overall.............I think I have everything covered so hope to be back in action tomorrow..........holding Cash and AIB in trading account.......................exalt for Cos.............................Live to trade another day......................GLTA Ask2 -- i traded SPY for the first time last week and made ~$700 profit on stock/covered call combo ~0.7% in two days .. thanks.. |
|
|
|
Post by exabi on Aug 23, 2010 17:48:57 GMT -5
Hi all....................well as always first day back after week off hectic at the office.....................vacation was good except MY BOAT SUNK .................got the water out and got her floating again now at the shop trying to get the motor running ...........it was tied to the dock and over taken by vicious waves.............the best part is it supposed to be an "unsinkable" boat................anyway nice to get away but better to be back..........................Got one nice SPY PUT scalp in this am............ 100 SPY 107's +16.7% .....................looks like it was a beautiful trading day but not so good for the mkts overall.............I think I have everything covered so hope to be back in action tomorrow..........holding Cash and AIB in trading account.......................exalt for Cos.............................Live to trade another day......................GLTA Sorry to hear about your boat Ask...bass boat I think?. If they can get to the engine fairly quickly, it can be redeemed, at least mechanically....not sure about the electronics. I almost had a boat sink on me....older boat, lost a drain fitting on the bottom of the boat due to old age and electrolysis, stuffed a t-shirt in the 1.25" hole, ran back to the marina and hauled it on the lift. Playing the JAZZ whipsaw with COS...still hold my shares ($9 net cost), and bought 2x $7.50 puts. Bot some PCX, glubbing at the moment. |
|
|
|
Post by torrentio1 on Aug 23, 2010 22:25:26 GMT -5
Just returning from a mini vacation --not a clue what the market is up to right now... Has the market finally realized the teleprompter messiah is a socialist idiot that speaks with forked tongue?
I do know that I remain all in and the market was down as was my portfolio...
Hope all did well!!!!
;D ;D ;D ;D ;D
|
|
.................got the water out and got her floating again now at the shop trying to get the motor running 
