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Post by cosmic on Apr 1, 2011 15:32:12 GMT -5
You'd almost think today's market trading was a joke of some sort given the trainwreck like appearance on my watchlists. Yes, we might be up, technically, but the green and red of my screens is much more picasso than not.    I sold off a few shares of SQNM that I had purchased way back around $6. Not much, just pulling the position back to a more realistic size.  No other trades. Hope everyone made some money today and will so do on Monday. Members, please post your results along with your RDA of smileys!  |
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Post by papasloth on Apr 1, 2011 15:38:54 GMT -5
Short weekly MCP 60 and 65 calls both expire out of the money. Net +1.65/sh on the 60s and +0.40/sh on the 65s, not bad for three days! Next week's short 65 calls, which I wrote yesterday, are also doing well: sold at 1.00/sh, currently trading at 0.45-0.55/sh.
This offset a down day for my bullish SVNT position.
Net up a little on the day and +7% on the week.
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Post by demanuel2001 on Apr 1, 2011 16:51:28 GMT -5
Nice day to start the quarter for me. Up over 2% of portfolio value on the day. Scalped some LVS. Bought back expiring $43 and $45 short puts for nice profits. Wrote some $44 short puts for next week. Other stocks did OK but weakened in the afternoon.
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Post by maxi on Apr 1, 2011 17:10:05 GMT -5
Sold the HAL this morning and then watched it melt away. Made 10% on this HAL trade. I looked up my history on HAL. Altho I did fairly well on the trades I have done had I been patient and never sold the original shares I would have done quite a bit better. But being subject to the markets whims I did sell earlier. On the other hand I made some very good profits using the same funds on 2 other trades.
I am now almost all cash except for my OPK. Which by the way appears ready to move any day now.
LVS still intrigues me. I may get some Monday. Hopefully it will not gap up again so soon.
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Post by papasloth on Apr 1, 2011 17:16:38 GMT -5
On the other hand I made some very good profits using the same funds on 2 other trades. This is key. There is opportunity cost having your cash tied up on a long-term holding. If you can consistently get in and out quickly with a profit, you can often get better returns overall, even when you underperform a particular holding on a buy-and-hold basis. Of course, if I was the kind of trader who could buy and hold and get a 5X return, I'd probably think differently. But, that's never worked for me. |
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Post by maxi on Apr 1, 2011 17:32:41 GMT -5
On the other hand I made some very good profits using the same funds on 2 other trades. This is key. There is opportunity cost having your cash tied up on a long-term holding. If you can consistently get in and out quickly with a profit, you can often get better returns overall, even when you underperform a particular holding on a buy-and-hold basis. Of course, if I was the kind of trader who could buy and hold and get a 5X return, I'd probably think differently. But, that's never worked for me. Thanks Papa. I tend to hold longer than most do. And I have missed opportunities. I feel like I "get" trading this year better than I ever have tho. So far so good. This is my best year ever so far. (Baby steps!) |
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Post by Clinton SPX on Apr 1, 2011 17:44:44 GMT -5
went long Jim Beam on the way home from work
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mihai
Broker/Dealer
2nd Place - Road to Opex 7
Posts: 433
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Post by mihai on Apr 1, 2011 18:03:04 GMT -5
My stubbornness will probably be my undoing.
Holding TZA since 36.19, currently 34.55. Will take losses if the market goes up Monday, which it probably will.
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Post by davetherave on Apr 1, 2011 18:14:53 GMT -5
Well I was up a whopping 13 Basis Points today. I bought back the PCX portion that I sold yesterday. Admittedly kinda of a bone headed move but the stock acted great all day and was barely phased by the afternoon downdraft. Hopefully we get a Barron's article on a PCX rumored takeover. It's not out of the question....PCX and other names in the group are always in the rumor mill. If I get burnt on this come Monday, I deserve it. No worries. NGD, EXK, and LULU all closed off of their lows after coming off of their highs of the day. They needed a rest after a big week.... up 5%, 7.7%, 14.6% respectively (this week).   Enjoy the weekend!.....leaving you with a some entertainment...hope you dig it....  vimeo.com/20221628 |
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Post by exabi on Apr 1, 2011 19:10:03 GMT -5
I was in a selling kinda mood today....sold CLD for 13%, IMAX for 7% and AA APR 16 Calls for 6%, and unlost nicely on LVS.
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Post by bellevuetrader on Apr 1, 2011 20:18:39 GMT -5
Only thing I traded today was my car! I needed to free up some capital so I can average down on my TZA!! $&#%!!
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Post by kbk3ck on Apr 1, 2011 22:32:51 GMT -5
Only thing I traded today was my car! I needed to free up some capital so I can average down on my TZA!! $&#%!! Funny Stuff Bell.    |
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