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Post by cosmic on Jul 11, 2011 15:38:04 GMT -5
Hmmm that was pretty doomy right there. Not exactly sure what the trigger was - thinking outside the current noise that shouldn't affect a market (i.e. debt ceiling) but alas it was a selling day. I figured Mondays were always up.   I added some MOBI at 9.88 AND sold covered calls, August 10's, for 1.15 against the position. So far so good ;D No other trades, however all is good - today is 7/11, so it's FREE SLURPEE DAY just find a participating 7/11  Hope everyone made some money today and will do so tomorrow. Members, please post your results along with your RDA of smileys!  |
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Post by huh? on Jul 11, 2011 15:47:14 GMT -5
Was looking for 1317 and got it. Careful what you wish for, right?
Added some positions today...looking to possibly add some more tomorrow.
One or two of those positions may have broken their support today...might have to unload those on a backtest if they don't breakout to the upside tomorrow.
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Post by Clinton SPX on Jul 11, 2011 15:49:48 GMT -5
Lots of buying today. Hope we gap up tomorrow who sez hope isnt a trading strategy. TGC got killed today should recover tomorrow. I couldnt buy pennies today  |
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Post by huh? on Jul 11, 2011 15:52:49 GMT -5
Glad to know I wasn't the only one buying today Clinton...felt like it at times  I am keeping mental stops close though! |
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Post by demanuel2001 on Jul 11, 2011 16:03:00 GMT -5
Got pretty badly mauled today - down 6% of portfolio value. My second attempt at a scalp in LVS got me trapped. Ended up the day longer in the weekly calls but dumped shares at a loss and bought back some margin-eating short puts. I kinda like buying cheap calls that were a buck in the money earlier in the day. Also got myself in VXX puts again. Suspect the debt ceiling BS is the culprit today - kinda funny as that ought to be a plus for a company with overseas income like LVS.
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Post by maxi on Jul 11, 2011 16:12:35 GMT -5
Both ACI and GERN got snarkled pretty badly today. Only have 100 shares of ACI. not too much of GERN either. This time around I think I will wait till I am more sure the selling is over. I usually average down every day or so but I am gonna play it differently this time...
Stalking CBOU. Hard to jump on 52week highs tho...
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Post by cosmic on Jul 11, 2011 17:17:04 GMT -5
Glad to know I wasn't the only one buying today Clinton...felt like it at times I am keeping mental stops close though! Stocks are all over the place valuation wise so i think buying is always available. i dont mind buying certain setups like MOBI with covered calls etc. Some stuff is really well valued. Just have to have a plan  |
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Post by exabi on Jul 11, 2011 18:19:52 GMT -5
No trades - a  kinda day, though CLNE had a nice AH pop - my smallest holding of course. |
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Post by timber on Jul 11, 2011 18:21:25 GMT -5
i had a great day.....but i really should be taking it easy until the end of summer
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Post by PoorHomey on Jul 11, 2011 18:30:36 GMT -5
Next time it's 3:59pm on a Friday & the risk-management angel who sits on my right shoulder whispers into my ear that I should take a damn $19 loss... I WILL TAKE HER ADVICE!  |
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Post by tajmahal9898 on Jul 11, 2011 18:58:11 GMT -5
only one one-way trade
short 5K VXX at 21.81.. down 1,250K right now.
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Post by Clinton SPX on Jul 11, 2011 19:14:09 GMT -5
Next time it's 3:59pm on a Friday & the risk-management angel who sits on my right shoulder whispers into my ear that I should take a damn $19 loss... I WILL TAKE HER ADVICE! Ya I should have closed out my scalps too. |
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Post by kbk3ck on Jul 11, 2011 20:20:42 GMT -5
Didnt do any buying today because I went all in Friday. Oh well, I got a while to make those buys work. ;D |
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Post by huh? on Jul 11, 2011 20:43:05 GMT -5
Here is a good example of following the charts and NOT letting emotion dictate your move:
I had an order in for PMI all morning for $1.25...I interpreted charts as saying that it needed to head down to at least $1.25 in order to move higher.
Impatiently, after lunch I gave up waiting and bought it around $1.42.
Look at the 1 minute chart and see what it did late in the day. My chart shows low of the day as 1.20...other finance sites show low of the day as 1.09.
People will say that it was a fat finger trade or something like that...but I truly believe it was to satisfy the chart.
That being said, I am not holding my breath for a quick, huge gain on this one.
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Post by maxi on Jul 11, 2011 20:50:34 GMT -5
Here is a good example of following the charts and NOT letting emotion dictate your move: I had an order in for PMI all morning for $1.25...I interpreted charts as saying that it needed to head down to at least $1.25 in order to move higher. Impatiently, after lunch I gave up waiting and bought it around $1.42. Look at the 1 minute chart and see what it did late in the day. My chart shows low of the day as 1.20...other finance sites show low of the day as 1.09. People will say that it was a fat finger trade or something like that...but I truly believe it was to satisfy the chart. That being said, I am not holding my breath for a quick, huge gain on this one. Huh, you have to think in percents when you buy this stuff. You bought it 13% higher than where you had planned..... |
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Post by huh? on Jul 11, 2011 20:52:27 GMT -5
I know...in this case it is a really small position and my only spec play so I wanted it filled today. dumm, dumm, dumm  |
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Post by maxi on Jul 11, 2011 20:53:14 GMT -5
I know...in this case it is a really small position and my only spec play so I wanted it filled today. dumm, dumm, dumm What I like about u Huh is u don't get all huffy when I say stuff. I really appreciate it. |
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Post by huh? on Jul 11, 2011 20:54:37 GMT -5
Never hesitate to call me out on a bad trade!
That will help me learn and I will never take offense.
A real good bad example here in "TRUST THE CHARTS"
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Post by kbk3ck on Jul 11, 2011 20:57:37 GMT -5
Its all good Huh. Just hang on and sell it later on.
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Post by maxi on Jul 11, 2011 21:00:03 GMT -5
Its all good Huh. Just hang on and sell it later on. KBK you should talk more about your style. You have a good trading style and it works for you. It encompasses some of my style as well. If we all talked more about our specific styles then we would all benefit more I think. There is not just one way to do this. |
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Post by huh? on Jul 11, 2011 21:02:11 GMT -5
Its all good Huh. Just hang on and sell it later on. I'll keep an eye on the charts for it. I'll be out quick if it breaks. I'm thinking with that squueze it had recently, it might fill that gap just over $2 if squeezed again. |
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Post by kbk3ck on Jul 11, 2011 21:08:27 GMT -5
Thanks Maxie. I like yours a lot too and think we are very similar minded. Like were related or something. LOL. But mine depends a lot on if I have time to trade and do I have beer in the box. I dont think most would try my style. Or lack there of?
;D
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Post by maxi on Jul 11, 2011 21:10:51 GMT -5
Thanks Maxie. I like yours a lot too and think we are very similar minded. Like were related or something. LOL. But mine depends a lot on if I have time to trade and do I have beer in the box. I dont think most would try my style. Or lack there of? ;D yeah yeah yeah mine depends on how awake I am and what pills I have on hand...  |
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Post by kbk3ck on Jul 11, 2011 21:16:19 GMT -5
Thanks Maxie. I like yours a lot too and think we are very similar minded. Like were related or something. LOL. But mine depends a lot on if I have time to trade and do I have beer in the box. I dont think most would try my style. Or lack there of? ;D yeah yeah yeah mine depends on how awake I am and what pills I have on hand... We DO have the same style!!!!! |
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Post by Clinton SPX on Jul 11, 2011 21:22:35 GMT -5
Here is a good example of following the charts and NOT letting emotion dictate your move: I had an order in for PMI all morning for $1.25...I interpreted charts as saying that it needed to head down to at least $1.25 in order to move higher. Impatiently, after lunch I gave up waiting and bought it around $1.42. Look at the 1 minute chart and see what it did late in the day. My chart shows low of the day as 1.20...other finance sites show low of the day as 1.09. People will say that it was a fat finger trade or something like that...but I truly believe it was to satisfy the chart. That being said, I am not holding my breath for a quick, huge gain on this one. Huh, thats not a fat fingered trade. Thats what happens when there arent enough buyers to match up to the sellers someone had a limiy buy for 1.20 at about 1.35 they ran out of buyers so it dropped to the 1.20 bid. This happens a lot on those free etfs I play because volume is so thin. will happen a couple of times a week. So i like to keep lowball bid in to grab these |
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Post by huh? on Jul 11, 2011 21:28:58 GMT -5
Here is a good example of following the charts and NOT letting emotion dictate your move: I had an order in for PMI all morning for $1.25...I interpreted charts as saying that it needed to head down to at least $1.25 in order to move higher. Impatiently, after lunch I gave up waiting and bought it around $1.42. Look at the 1 minute chart and see what it did late in the day. My chart shows low of the day as 1.20...other finance sites show low of the day as 1.09. People will say that it was a fat finger trade or something like that...but I truly believe it was to satisfy the chart. That being said, I am not holding my breath for a quick, huge gain on this one. Huh, thats not a fat fingered trade. Thats what happens when there arent enough buyers to match up to the sellers someone had a limiy buy for 1.20 at about 1.35 they ran out of buyers so it dropped to the 1.20 bid. This happens a lot on those free etfs I play because volume is so thin. will happen a couple of times a week. So i like to keep lowball bid in to grab these Perhaps, but I have seen a lot of "fat fingered" trades satisfy chart patterns exactly just by coincidence.
In this case, it was a crazy looking trade and even broke the chart pattern, so it most likely was a fat finger. Or someone wanted out very, very badly.Sorry Clinton, mis-read what you wrote. I agree with you...someone most likely wanted out badly. |
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Post by Clinton SPX on Jul 11, 2011 21:29:59 GMT -5
fear finger maybe?
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Post by Clinton SPX on Jul 11, 2011 21:32:37 GMT -5
PMI has a history of some big drops so I can understand someone freaking to get the F out
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Post by huh? on Jul 11, 2011 22:00:45 GMT -5
PMI has a history of some big drops so I can understand someone freaking to get the F out I might be one of them tomorrow  |
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Post by davetherave on Jul 11, 2011 23:10:50 GMT -5
Raised some cash today and portfolio was hit a bit (-3.8%) as well....some sales were great and some not so good but I am pleased nonetheless. Sold all of my WNR(finaly) at 20.04 and 19.55 ....nice sale there taking profits on the position.... Trimmed DEXO taking a little profit despite the stock being down 9% today.....almost was a buyer but decided just to reduce risk in a shitty tape. May buy back at some point. AAU - added 20% at at 3.86 - great relative strenght today. Bought and sold ERX for a tiny loss Bought some SDS for a little protection after the close at 20.49 BOX and DD - did nothing in these but they saw nice relative strength today. Dave |
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