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Post by brosin on Sept 24, 2010 15:11:02 GMT -5
(Filling in for Cos) "And it went up."  I just drove by Bear Jamboree. There is a line out the door of the Customer Service office - many who paid their admission fare last night now want their money back as they feel they are a victim of false advertising. The market closed at a 4 month high and has made a new high after the FOMC meeting. ;D This bodes well for the bulls although I don't see this being easy; please keep your seatbelts fastened and stay in your seats while food is being served. When the seatbelt light goes off, you can leave your seat. As always, thank you for Flying Benair. Enjoy your flight. Hope everyone made some money today and will do so next week. Enjoy your weekends. Members, please post your results along with your RDA of smileys!  |
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Post by benvestor on Sept 24, 2010 15:31:19 GMT -5
almost went all in bullish.. but then the market closed
will be looking for a pullback to get some of this run next week.
I believe it now haha but i got a nosebleed
AZO call is up about 20% today
Lost about 7% in a AAPL put scalp.. So made a few bucks today
mad I didnt go all in on L.A.A.N.G calls yesterday..
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Post by demanuel2001 on Sept 24, 2010 15:38:00 GMT -5
Total turnaround from yesterday for me. Did several LVS scalps, bought back some cheap out of the money puts, wrote some new in the money puts and bought a few out of the money calls. P&L almost entirely driven by my long LVS position worked out to be around +$70k. Excellent end to the week.
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Post by sp7015 on Sept 24, 2010 15:38:55 GMT -5
Trading weekly options on expiration is crazy. Bought aapl $260 weekly calls (expire today) for $1.38. 10 minutes later Sold $2.01. 45% profit Bought with gain from previous trade $260 weekly calls for $1.35. Sold $1.30. 3.7% loss. If I would have held until the last 3 minutes of trading I could have sold them for $2.20 or 38% gain but I don’t think my broker would have been too happy if I would have gotten stuck with those calls and have to buy all those shares if I wouldn’t have gotten the trade to go through. Bought MVIS for $2.15 this am. Small position. Covered ABT short for a 1% loss. All in all portfolio up 10.6% with the long positions I am holding. I am currently long: I plan on getting long aapl on a pull back and will also be trading aapl through weekly and october calls. I will not short aapl or buy puts because I believe the fundamentals are to good for the stock. If anyone is interested in a highly volatile tech stock I suggest doing some DD on CRUS this weekend. This stock was punished by the shorts after it was downgraded in Aug to a hold based on possibly week portable audio device sells. "As reported previously, Stifel downgraded Cirrus to Hold from Buy. The firm believes Cirrus Logic's consumer audio business may face 2H10 headwinds due to the weakening economic recovery and consumer spending. :theflyonthewall" The fact is that this stock is a play on aapl as it gets 35% of its revenue from them. It has not participated in the rise of the aapl related chip stocks such as swks. www.investors.com/NewsAndAnalysis/Article/547634/201009171716/Chipmaker-Stays-Strapped-To-Apples-Powerful-Growth-Engine.aspx |
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Post by timber on Sept 24, 2010 15:50:14 GMT -5
scalped gold and fas .....dont trust the breakout yet.....everyones making a killing on aapl except me
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Post by sp7015 on Sept 24, 2010 15:54:40 GMT -5
scalped gold and fas .....dont trust the breakout yet.....everyones making a killing on aapl except me Just in my IRA. In my trading account I have no shares but have been making money by buying weekly calls. |
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Post by papasloth on Sept 24, 2010 16:48:23 GMT -5
Over the last few days, I've gone long SVNT, wrote some covered Nov. 23 calls and wrote some naked Nov. 25 calls. I'm roughly delta neutral and am collecting theta. On Nov. options expiration, I'll be up if Savient closes between 20.43 and 27.57. I'll be down if Savient closes below 20.43 or above 27.57. My peak profit would be if Savient closes anywhere between 23 and 25. SVNT closed at 22.81, with the last after hours trade at 23.00.
Savient recently passed FDA Phase 3 approval on Kryestexxa, a new drug for treating gout which does not respond to other treatments. There is a lot of disagreement on just how many people are candidates for the drug and what the likely market penetration would be. I've seen estimates anywhere from $180M to $1B yearly on what the revenue from Kryestexxa could end up being. As a wild ass guess, I'm going with $500M per year. On the other hand, Savient is running on fumes, and the only hope they really have at this point is an outright sale of the company. There have been completely unsupported rumors this week that they have one or more suitors. Personally, it looks like a pump to me, but who knows? The price went up around $3/share when the rumor hit. I'm going to guess again, and say that 3X yearly revenue would be a fair buyout price. There are around 67M shares, probably 70M when all the warrants and options are accounted for. That works out to $1.5B/70M=$21.43, but SVNT is already around $23. At 4X yearly revenue, it would be $2B/70M=28.57.
So, who the hell knows? Lots of random numbers and speculation. Biotechs are scary. If anyone has any sage words of wisdom, I'll be listening.
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Post by timber on Sept 24, 2010 17:14:53 GMT -5
holy moly that does look scary i probably will be shorting that sucker...if you have profits i would take them biotechs are really crazy stocks
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Post by birthmark on Sept 24, 2010 17:35:54 GMT -5
Nice wrap Bros.
I rather enjoy flying Benair.
Up up and away.
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Post by exabi on Sept 24, 2010 17:48:36 GMT -5
Enjoyed my Benair flight  Sold my Cenx from yesterday at 12.47 (4.1% gain)....missed the top, but when it went semi-parabolic around noon, I thought the top was in. Sold some PCX covered calls again....so far about 3.5% gain from selling and buying back calls. Divvy plays HTS and CIM doing OK...looks like HTS shrugged off the secondary. |
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Post by timber on Sept 24, 2010 17:53:36 GMT -5
wow cool pic....now let me find one flying
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Post by timber on Sept 24, 2010 17:58:32 GMT -5
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Post by exabi on Sept 24, 2010 18:41:29 GMT -5
Timber........this one never got off the ground.....doesn't look good for Benair
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Post by Clinton SPX on Sept 24, 2010 19:37:31 GMT -5
Its Ben dover Air I worry about.
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Post by brosin on Sept 24, 2010 20:04:20 GMT -5
FFR was bearish to .20% from .21% - after today's move, I would not expect it to deteriorate further on Monday. Should it go down further, bulls would want to tread a little more cautiously. .19% and above is the 'all clear.' FAS may have lagged other sectors, but I don't mind. Only means the catchup days will be all the better. Getting quite green again Monopoly $$$ Big Cap account bought back a few of yesterday's sells in VALE and RIMM as well as adding to my CLF position. +3.7% on the day. 20% cash Scalps closed out all positions in the green for realized 1.7% on RIMM, .3% on FAS day trade, and 1.4% on CHK. +3.2% on the day. 100% cash Options Account unrealized 50% gain on my $116 SPY Oct Calls (+83% today ), still holding & wish I had more of them. Account +24% on the day. 80% cash All in all, it was a very good week and I've done well. Accounts are up 4.1 on the day. Since inception 9/6, markets up 3.5%, and my accounts are +5.8% $1.3M to $1.377M (77% of net worth) Big Cap account lagging market by .1%, +3.4% overall (19% of nw) Scalp Trade account beating market considerably, +16.8% (4% of nw) Options account is +4% |
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jn1520
Broker/Dealer
Posts: 719
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Post by jn1520 on Sept 24, 2010 20:27:57 GMT -5
Today felt good for a change...AVNR is finally making it's move. Took up a position with ALXA and ACAD. Also strengthened my core position in YRCW at .26 and now it appears there was good news tonight (I've only seen the headline so far)  Monday should be a heavy gap up day for YRCW (fingers crossed).
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Post by kbk3ck on Sept 24, 2010 21:21:03 GMT -5
Made 12%, 9.6% and 7.25% today on my 3 holdings. SOXL,TNA and FAS.
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Post by tajmahal9898 on Sept 24, 2010 21:48:10 GMT -5
down big time on CENX.. down ~60K on it (~30K just today).......and this one has legs, AL spot prices went above $1.00 after a really looonnng time...
Luckily AETC was up nicely... recovered some losses ~5K
MU day traded for ~6K realized profit
FAZ day traded for ~2K realized profit
Holding large SDS oct combo -- sold Oct 29 puts, bot 30 calls for net credit (few cents..)..
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Post by kbk3ck on Sept 24, 2010 21:55:36 GMT -5
WOW Taj, were u shorting FAZ? Great job man.
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Post by PoorHomey on Sept 24, 2010 22:29:06 GMT -5
I've sat out the last several weeks, which kinda sucks... But on the bright side - at least I wasn't short!  My only holding (Employee Stock Plan) is up 11.6% since 9/1 - still down ~20% ytd. On the brighter brighter side - After updating my weekly-ish balance spreadsheet I realized that today, 9/24/10 - I officially have more money than I've ever had in MY ENTIRE LIFE. Even though it's still pretty tiny compared to most of the folks around here, it feels good considering 36 months ago I was selling plasma (the blood kind, not the TV kind ) just so I could buy food. |
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Post by jack on Sept 24, 2010 22:44:08 GMT -5
Hiya actuary, clint, V, Rich, seatoo, zabee, birth & deman if you are still on-line
Rich - why does doing rehab work take twice as long as you estimated? LOL!!! That little job I was working on for a friend here is substantially complete now, but somehow managed to get an eye infection w/ all the dust/dirt flying around.
For the next few days I will hereby be known as "One-eyed Jacks"!
LOL!!
Hope y'all are doing great! Hope to be back on-line early next week (eye promise).
: )
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Post by kbk3ck on Sept 24, 2010 22:58:47 GMT -5
I guess Im invizable now Jack?
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Post by bellevuetrader on Sept 25, 2010 1:18:02 GMT -5
Poor-thanks for sharing. Congrats to you! After being short this week, I may need to resort to selling Plasma. Please let me know how it works. lol! Thanks.
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Post by actuarynomore on Sept 25, 2010 10:10:58 GMT -5
Hope to be back on-line early next week (eye promise). Looking forward to having you back in the saddle - Any project pics you can share? |
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Post by jack on Sept 25, 2010 22:38:41 GMT -5
Hope to be back on-line early next week (eye promise). Looking forward to having you back in the saddle - Any project pics you can share? Actuary = After the special order shutters and wall lights are installed I'll take a shot to add to my "portfolio of work" and post it - LOL!!! KBK - If I missed seeing you there last nite I appypollyloggy. |
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Post by Clinton SPX on Sept 25, 2010 23:41:26 GMT -5
Clockwerk orange
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