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Post by cosmic on Mar 4, 2011 16:08:43 GMT -5
What a whipsaw the last 3 days. I was capitulating on my bearishness just yesterday after an almost 200 point day, only to see this, an almost 75% giveback. The only thing I can liken this too is the action last year when we topped near 1200 or so. We continued to have huge volatility and whiplashing between various supports and resistances. Eventually that pattern of low-high-low-high day after day wore out, and we dropped. The Flash Crash came out of that, and we had a 200 point correction before the Fed stick save at 1004 Emini. So now we're seeing the same pattern and what is different between then and now? Only thing I can think of is: POMO, and QE3-99, which are all planned out. So how the heck do we play it? My strategy is since we are still potentially in a topping pattern, any buys are soon followed with covering short calls, there's just no other way to play it from my perspective. Grabbed a little AIG at 37.20... no other trades Hope everyone made some money today and will do so on Monday. Members, please post your results along with your RDA of smileys!
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Post by bellevuetrader on Mar 4, 2011 16:12:08 GMT -5
I do agree Cos...who says swinging 200pts isn't fun??
Sold FAZ position this AM at $40.25 (A bit premature) Shorted FAZ at $41.00. Covered at $40.39. Bought HERO and MVIS today! Hopefully nobody got whipsawed this week! What a crazy Market!
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Post by demanuel2001 on Mar 4, 2011 16:48:39 GMT -5
Back to back down weeks for me - I'm still up over 3% YTD but this has been an odd time for me with all the screwed-up news about LVS. Didn't really do much today. Bought a few more $44 calls - and they expired worthless. Wrote some $44 puts for next week. Down a little more than 1/2% today. All in all LVS didn't do so bad today compared with the overall market - I think the market was down today on the Libya thing and the threat that they will recapture the oil terminal near Tripoli (Zuwaira?) - I imagine that Obama will get a lot of pressure over the weekend to grow a pair of nads.
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Post by Clinton SPX on Mar 4, 2011 16:56:09 GMT -5
No Trades No short positions Account green today, red yesterday. go figure. :shrug:
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Post by tajmahal9898 on Mar 4, 2011 16:58:58 GMT -5
was holding
long March 19, short march 20 calls and short March 18 puts for 5 cents
i closed march 19 calls for ~10 cents, so holding naked short 20 calls and short 18 puts
If pps does not go below 18, I will have 100% profit
----
Today I added March 18 naked calls for 55 cents..a lot of them..
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Post by ccash04 on Mar 4, 2011 17:18:15 GMT -5
Closed SLW 41 calls for a gain of 140%; thought about holding but for once sticking to the plan of selling on Friday.
Opened JUNE NFLX 190/180 bear put spread.
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Post by Rothschild on Mar 4, 2011 17:29:38 GMT -5
BTFD today bought Udow and gained 3.6% in like fifteen minutes! Bought airline stocks because they were oversold mostly UAL. Mega-POMO on Monday so mutual Monday funday should continue Hope everyone did great today and will continnue to do so as infinitum
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Post by davetherave on Mar 4, 2011 17:52:07 GMT -5
Started a position in FTNT....Long and strong EXK and NGD...up 25% and 10% respectively on the positions. Still hold an odd lot of BPOP...
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Post by jack on Mar 4, 2011 17:59:09 GMT -5
Some people "have their head examined"...I only had a foot (will soon need to schedule an appt for the former).
Have a grt w/e all.
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Post by kbk3ck on Mar 5, 2011 1:01:06 GMT -5
Got 40 shares of TNA at $83.46 and 40 more at $83.26. Those got hit pretty hard. Still holding 110 ERX and 155 SOXL. Will see how it goes Monday. Everybody have a great weekend!!!!
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Post by janedoji on Mar 6, 2011 8:24:40 GMT -5
erx, pcx, apkt, recent buys Top 5: pcx, c, ftlk, pot, akam Lots of bit and pieces: lvs, csun, axti, kmp, allrf, ego I've been whipsawed for a few weeks now --- regrouping for march madness Thanks to Timber for the CLDA post after the FDA approval, bought after your post and sold when the company was sold for +12% janey
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