Cosmic's MarketPlace Wrap - 9/13/2010

[cosmic]

Relatively calm market close, a little giveback as traders exit.

The SPY doji turned green, so far it is a 'firework' and remains to be tested. Cobra will most likely publish the odds tonight on those.

I did not ring today, decided to let it ride again as I felt the EOD turnaround was somewhat legitimate, as well the opexy action on Friday lends to a slow rise possibly into Friday. The 1120 pivot so far is holding. Quite surprised, I would have given it an outlying chance of 15-20%, but here we are. The other to watch is 1085. These are large moves, 100+ points each time.

No trades today although we have our DIA/QQQQ paper trade to watch. That has closed in the positive around $100. So about a 10% gain (based on BP) with an almost delta neutral position going in. ;D

Hope everyone made some money today and will do so tomorrow. Members, please post your results along with your RDA of smileys!

[demanuel2001]

Pretty good start to OPEX week for me - time decay is supposed to earn me close to $2k/day this week. Did a tiny scalp of LVS - not really doing much with LVS this week until OPEX. Made an experimental purchase of SKX early in the day. Nice day overall - up about $31k - not counting mutual funds which report later and should be OK.

[jack]

I can now buy 2 pairs of sneakers!

;D

[demanuel2001]

Sept 13, 2010 15:10:53 GMT -5 jack said:

I can now buy 2 pairs of sneakers!

With the bounce after I bought SKX, I'm feeling pretty well heeled too!

[benvestor]

Scalped SPY 8 112 puts for a 15% gain..

Holding 20 AMD 6 calls purchased at .37 .. almost doubled EOD but thought it too risky.. I think tomorrow will be uber bull, but I know they can manip the retail numbers however they want and drop us down real quick during OPEX

So down about $150 on the day..

cmon back to school skew retail bull

[bellevuetrader]

Well....these gap ups are always fun! Averaged down a bit on my FAZ position. Now holding 66% position. Average is about $13.40. 2 more bullets to be fired later this week. Lets see if we gap up above 1130 LOL

[brosin]

big cap growth portfolio remains 75% invested (I had mistakenly said 50% on Friday but was counting the short GOLD position as a negative market value and it distorted my buying power; now fixed) and was up 1.7% on the day today (3.4% overall in only 5 days)

I'm still being an idiot and not closing out my positions in the scalp trading portfolio; I did not like the price action on any of the 3 that I hold. Have not played true to the strategy, which is annoying me a bit with myself, but that's ok for now.


FFR was level at .18% overnight - remains near the bottom of its .17-.21% range since July 1. It still remains in breakout territory (.17%+ by my eye), but towards the more bearish portion of it, which suggests the rally may be in jeopardy should the FFR not come back up towards the top of the range.

My FAS in real life is green at the close for the 7th day and is starting to make some headway (+12.6%)



*all the links / organization is still for timber ;D

[timber]

scalped some fas and aeo.....i still have a hang over from the game last night so it was hard to really make sense of anything....lol

[Rothschild]

Mmmm well the day began with a 5.4% loss on my bear etfs. Decided to jump long on some banking stocks and got back about 1%. We are overbought short term. We could pullback any moment now. Not long or short at the moment as I am trying to recover from a pretty nice kick to the knads.

[tajmahal9898]

bot 200s SDS calls Sep 30 calls for 1.03, down 5 cents.

CENX is looking bullish and I am short.. not good.. down 18K
ATEC was down even on day like today..

I am stuck here.. need to device a plan to escape from this trap... In addition to losing money on the current portfolio, I have passed on many good opportunities... ... back to drawing board.

[sloop]

Sept 13, 2010 15:16:55 GMT -5 bellevuetrader said:

Well....these gap ups are always fun! Averaged down a bit on my FAZ position. Now holding 66% position. Average is about $13.40. 2 more bullets to be fired later this week. Lets see if we gap up above 1130 LOL

FAZ is one trading vehicle you dont want to get stuck in with a big incentive for the markets to go up. your losses will only increase. Be careful!

[sloop]

I'm long BAC. Bought AMD at 5.90 sold at 6.26 for a nice scalp. also sold BAC that I was holding from Friday for a nice pop also.

[ask2lern]

HA..................no trades for me.....................holding 20 SPY 111 PUTS (-76%) I figure at this point if I keep them I will have about a 50/50 chance of selling for more then they are currently worth(Glass 1/2 full??)..........................also holding 20 OCT SPY 112 PUTS (-13%) this is still an honest to goodness small spec play .......................dats all fo meeeeee..................pretty busy here at the office............guess I never thought about the work my x-partner did and who was going to pick up the slack .................now I know ;D.......................Exalt for Cos.................Live to trade another day.....................GLTA

[benvestor]

nice trading sloop!

[sloop]

Sept 13, 2010 15:57:47 GMT -5 benvestor said:

nice trading sloop!

Thanks Ben, re-entered BAC a little high at 14 But the Financials are about to break out i feel. I think we had our Sept in August. Nothing is usual in this market anymore. Sept could be a great month.

[sp7015]

Not the best trading day.

Bought aapl sept $260 calls for $8.40 at 9:35 est. Watched them go to $8.80 and didn't pull the trigger. Then I was under water all day. Closed out the position for a loss at $8. (4%) loss.

After watching aapl stock all day I was not to impressed with the performance.

I can see a gap down tommorrow bellow $266. IF the market is strong it will run up other wise it will be flat.

[jn1520]

Bad day yesterday - woke up knowing I was at a 5% loss on my ill-advised FAZ position from Friday. Bailed at the opening bell (fortunately, the right move) and quickly took up position in AONE, hoping to ride some MOMO on clean battery fever!