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Post by cosmic on Aug 15, 2011 15:11:39 GMT -5
Ok I admit today is one of the few days each year that I don't secretly check the Date/Time icon in the lower right just to be sure I do the Wrap for the right dates (since y'all let it happen then snickered at me later  ) That being said, as I look at how the market is moving right now, I AM CONVINCED that this is nothing more than a GIANT sector rotation. Let the traders figure out what will float and what will sink. Hamm said it today: All the charts look like crud. Ok, so don't play charts right now (and I tend to agree although you have to go with the plays you know i.e. DRN) but - play defensively. If you play Nas calls, short some OTM's as well to reduce your premiums and remember the VIX is still high and can spike.  As to the rest of the week I suspect a slow drift down only because of Opex, with buying to resume in earnest after Friday, at least in the short term. Opex rarely sees this type of spectacular move the week of - and Friday's action was certainly muddled and would have predicted a down week this week. A la the VIX  Sold my DRN today will get back in on any dip picked up 12% on it - happy with the trade but I was very early. 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 Clinton SPX on Aug 15, 2011 15:21:22 GMT -5
Scalped FTQ for 1%
High lights TGC +14.2%, SSN +8%, SNSS +3%, FEG +2.7% etc....etc...
Account up 7.5%
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Post by demanuel2001 on Aug 15, 2011 15:21:36 GMT -5
Maybe I'm just a perennial optimist - perhaps that helps me brush off all the setbacks with m crummy trading. I'm thinking we keep going back up. Had a nice day today - still scrambling to get out of the giant hole I fell into two weeks ago.
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Post by timber on Aug 15, 2011 15:22:36 GMT -5
tvix down ten percent my favorite play  ....looks to be cracking....52 week high is 112...you can figure the rest out |
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Post by hammondkeys on Aug 15, 2011 15:27:42 GMT -5
Did nothing today except a small position in SPXU. I think I might be seeing something develop in the chart. A little early to tell for sure but this could be a large ascending wedge we are looking at. Will know for sure IF the S&P sells off about 20-25 within the next two sessions.
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Post by tajmahal9898 on Aug 15, 2011 15:31:13 GMT -5
waiting for VXX to drop more.. unrealized profit of ~60K
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Post by brosin on Aug 15, 2011 16:15:18 GMT -5
Covered 1/3 of my FAZ short, or 1/4 of my long financials position (I had 3 entries short FAZ, 1 entry long FAS when couldn't find any shares) @ $56.10 for 25%
Looking to have covered all of it on market strength by Wed or Thursday even if I expect the market to close Friday at the high of the week. Won't be getting greedy as well as this position has done - can always get back in.
Sold my RIMM Jan 2013 $60 calls @ $1.10 for 120% gain.. thought it was a stink ask, but apparently not! RIMM is going to blastoff soon. I'm going to be putting in a stink bid to try and grab those back much lower. Don't want to be out of that position but wanted to lock some in and wait for the inevitable decay in the next week or two.
Just near EOD, grabbed a couple SPY Sept $124 calls for $2.08. Not planning to stick around past the next few days if they start to run up.
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Post by torrentio1 on Aug 15, 2011 17:02:40 GMT -5
I did nothing and saw nothing until now. Looks good from what I have checked thus far with VIX back down into the safe zone below 35.00ish, 30 Year Treasuries losing momentum and paused, and the 'Grey Poupon' indicator on various indexes looking bullish. I think Armageddon is off the tables now and worst case scenario is a flat market. I suspect market will melt up and maybe we see a backtest of the previous ceiling with dumb bears piling on. THEN maybe we see the bears capitulate when the market breaks it off in their collective bear asses which would be at some level I have yet to determine. In other words, I still look for the mother of all squeezes which has not happened yet. Am I crazy? Anyway, I have signed on to a project that culminates in 2012 (hmmm....  ), it will keep me busy SO I will not be as light as I have been recently; however, I will not be going dark, just somewhere in between. Will have to see how it pans out; then I will have a better feel for my participation availability here in beloved Fastopia. Don't cry for me Argentina... |
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Post by brosin on Aug 15, 2011 17:40:48 GMT -5
In other words, I still look for the mother of all squeezes which has not happened yet. Am I crazy? Nope you are not crazy! Or maybe we both are, but either way... ;D |
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Post by puurfectten on Aug 15, 2011 17:43:28 GMT -5
;)nothin here...tomorrow should be the vix crush rally hard day... 8-)let's see if she goes...
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Post by exabi on Aug 15, 2011 18:13:46 GMT -5
Nice unlosing day on PCS....about 30c from b/e. Bot some TZA at the wrong time....I thought we'd wiffle out around 130 up on the DOW...didn't happen....down about 5% on that posistion, still holding....I'll bail around 8-9% loss.
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Post by novice08 on Aug 15, 2011 18:49:01 GMT -5
Same ole, same ole here. Scalped a little more pal, sold too soon again, but +4.7%....miners did well, esp. anv, auy, slw, exk and ssri +4.24%. Holding 'em. Pms opex is 8/25 this month for those watching. If I say silver holding up well, it will go waaay down tomorrow so I won't. ;D Oh, and said I would sell into rally, but didn't...that's a woman for ya.  |
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Post by jack on Aug 15, 2011 19:20:06 GMT -5
Same ole, same ole here. Scalped a little more pal, sold too soon again, but +4.7%....miners did well, esp. anv, auy, slw, exk and ssri +4.24%. Holding 'em. Pms opex is 8/25 this month for those watching. If I say silver holding up well, it will go waaay down tomorrow so I won't. ;D Oh, and said I would sell into rally, but didn't...that's a woman for ya. Where does one go to find out PMs OPEX dates Nov? For regular stocks its this week right? |
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), it will keep me busy SO I will not be as light as I have been recently; however, I will not be going dark, just somewhere in between. Will have to see how it pans out; then I will have a better feel for my participation availability here in beloved Fastopia. Don't cry for me Argentina...
