Cosmic's MarketPlace Wrap - 9/23/2010

[cosmic]

Not sure what to make of the action but we are definitely heading back towards what I calculated was the opex pivot at 1120. I'm surprised we gave up so early. If the downslide continues, then instead it was a pivot off 1085. If that's the case, we did 1085-1140 so 55 points up. 55 points down is 1030. The pivots may be off a bit but that could be a general range.

As of right now, I did sweep at the top of the play into FOMC. This is a first for me. It was the odds-on bet. ;D

No trades today. Still holding SPY puts as a hedge.

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

[demanuel2001]

Brutal day for me. I seem to be getting whipsawed on my trades. Part of it is me getting lazy or sloppy on my so-called scalps. Part is me not executing a clear vision for the next month - and part is LVS becoming detached from moving with the Dow this week. I need to shape up - when my mutual funds report, the damage for the day will be down $40k - still a very good month for me - so I just need to sober up and gut it out.

[bellevuetrader]

Still holding FAZ & MVIS. Account is now in the green....FAZ made up for the MVIS loss. It's amazing what 1 day can do...

No trades for me today. Time to go Salmon Fishing. GLTA!

[Rothschild]

No trades today. Wouldnt you know they would tank the market EXACTLY when I covered for a loss? Nice! Those pesky MMs play the game sooo good and this amateur is still learnin. Decided to try some faz again; I am hoping for a run to 1100s-1107. ;D

Hope everyone did awesome today!

[timber]

i told you not to sell just yet ;D


i made about 15 trades all positive mostly in and out of bear funds.....but scalped all those insider buy companies earlier....im just not much of a holder of stocks

also scalped gold twice...i think its safe now it broke out and fed killing the dollar

[natsalilfly]

Two little wrong way turns, and went to the gym to clear my head. Now eating leftover Chinese food. Tomorrow is another day. My question is essentially will this expected downturn make the dreaded SPY former high range of 112-113 the new low? And my other questions are will tech lead us up, financials bring us down, or will M & A fuel small caps? Hmmm.

[birthmark]

Took some nice profits on LVS (for a change).
Still holding (and will continue to hold) a core position.

This market has me flummoxed I tell ya.
I'm not paranoid but I don't trust anything about this market!
<twitch, twitch... what was that?!?!...>

[Rich]

I knew it! ....I mean I didn't know it.....but I KNEW it!

no trades, I left a half hour before all the fun occurred.

[timber]

faz calls would have been bad ass.....i thought about you today rich

[Rich]

I get so fed up with the market, I just walk away from the computer and do something else. Shoulda stuck around.

Nice play on that drv.

but I did change the oil on the bike and used that shiny new torque wrench!

[exabi]

Sept 23, 2010 15:48:37 GMT -5 natsalilfly said:

Now eating leftover Chinese food.

I love leftover Chinese food.

Bought back the PCX OCT 12 Calls I sold a couple of days ago - 46% gain (I think). Basis is now 11.31 from 11.52.

Bought some CENX at 11.97. Only got a partial fill on the way up, got the rest on the way down.

[actuarynomore]

I have finally unwound a very frustrating long FAS position (including some shares I had been holding ever since FAS hit $119 5 months ago) resulting in what I feel is a nominal loss.

I sold the majority of my FAS holdings Monday through Wednesday (my last 500 share lot at $23.62) and through today, I bought a small percentage back.

I'm prepared to sell shares if we go up and have more dry powder than I have had in a long time to buy more if we go down - Which I totally expect.

I made a huge mistake 5 months ago that I will never again repeat but boy do I love playing with FAS.

[brosin]

FFR made a bullish move back to .21% from .20% overnight last night after the previous night's bearish move; now back at its recent high. Let's see what happens there overnight tonight.

My FAS remains green


Monopoly Trading:

Big Cap Growth -.3%, no moves (will potentially unload some if we are weak in the morning)

Scalp trading -.4%, no moves; full one day holds of RIMM/CHK. Should've sold when they were both nicely green

Options Port bought back my short SPY Oct $113 calls very early this morning @ $2.14 for -4%; this position was down -37% at one point earlier this week. Should've bought them back later. Early morning, I added to my SPY Oct $116 calls @ $.80



Accounts were almost completely even (+.1%), mainly due to the short SPY Oct $113 call gain.

[tajmahal9898]

decent day after a long time..

closed SDS puts position for 35% realized profit.

CENX was down and I am short
ATEC was up and I am long..

Portfolio up..

[jn1520]

Got creamed the day before on USAT. It recovered some, but wow did I get caught in a pump and dump. Although I do like them longer term.

Made another jump in AVNR's strength, which helped a bit. That stock is poised to keep MOMO - it seems I was only a few weeks off when choosing it for the OPEX contest.

[jn1520]

This stock was the perfect example of when it's important to follow your gut and not be scared off - look at it now. I became convinced there was a continued sell-off after a pump & dump, even thought the fundamentals were screaming BUY and BUY more!

Oh well, you live and learn...

[jn1520]

Sorry, I posted by comment about USAT in the wrong thread