Cosmic's MarketPlace Wrap - 5/6/2011

[cosmic]

Great day if you were a fellow SQNM'er with a nice huge pop that held throughout the session and actually got better.

I booked gains a little early leaving .20 on the table, however at least right now you can BTFD with SQNM and be fine. As such I bought the close and sold the May 7 call ;D I never play SQNM without protection in mind.

This is only 30% of a normal SQNM position.

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

[demanuel2001]

Best day of the week for me. Of course that isn't exactly a high standard to beat. Up a little less than 2% of portfolio value today. Probably getting a margin call on Monday even though I shortened my position today - got some calls being exercised and that will trip me into a margin call.

[tajmahal9898]

Good week..

short May1 25 calls expired OTM - would record realized profit of ~42K on sat.

As reported before, this is a significant milestone. YTD profit of > 25%.. most of the gains were realized last month . Needless to say I got lucky..

[exabi]

Unlost a bit on LVS, started a couple of small positions: CLNE@15.39, GMLP@24.01

[puurfectten]

unlost a bit..lol..i like that... well my order hit for my vxx puts ..didn't think it would get there but the only problem was i wasn't around to take profits..didn't even know it hit..oh well..should get another chance on monday..looks like we could get a little bank rally on monday..i'll flip there..looks loke we want a shot at around 1360ish...

[exabi]

May 7, 2011 1:16:06 GMT -5 puurfectten said:

unlost a bit..lol..i like that... well my order hit for my vxx puts ..didn't think it would get there but the only problem was i wasn't around to take profits..didn't even know it hit..oh well..should get another chance on monday..looks like we could get a little bank rally on monday..i'll flip there..looks loke we want a shot at around 1360ish...

The term "unlost" was coined by Poorhomey - I think he gets royalties each time the term is used.