How 'bout that stock market?

[steveny]

Do you ever sell put's or call's naked? It's been years but I think I am using the right terms. The person I used to trade with did this a lot.

I use to but I moved over from a full service broker to scottrade who PROMISED me they would have naked put/call selling available months ago and I still am waiting. I would have sold shitloads of calls on Monday had I had the ability to do so. This pull back was a no brainer.

I sure hope this solar crap tanks tomorrow big time. I am guessing the margin calls will be coming in pretty soon and with the long weekend I am guessing there will be panic selling on Tuesday.

It seems a lot eaiser to pick a stock that will come down then to pick a stock that will go up. Now the question is where to cover. SOLF I would like to cover at 14 but I am most likely going to cover at 17 ish. FSLR I would love to cover at 200 or less but it looks like support around 262. I don't want to wait around for a month to cover.

 

[Ryanmcd2]

I use to but I moved over from a full service broker to scottrade who PROMISED me they would have naked put/call selling available months ago and I still am waiting. I would have sold shitloads of calls on Monday had I had the ability to do so. This pull back was a no brainer.

I sure hope this solar crap tanks tomorrow big time. I am guessing the margin calls will be coming in pretty soon and with the long weekend I am guessing there will be panic selling on Tuesday.

It seems a lot eaiser to pick a stock that will come down then to pick a stock that will go up. Now the question is where to cover. SOLF I would like to cover at 14 but I am most likely going to cover at 17 ish. FSLR I would love to cover at 200 or less but it looks like support around 262. I don't want to wait around for a month to cover.

Nice I may start looking at stock charts again, I enjoy that market but when it dried up in 2002-2006 I moved on. Seems like we have a handfull of movers now that can be day-traded.

 

[steveny]

Nice I may start looking at stock charts again, I enjoy that market but when it dried up in 2002-2006 I moved on. Seems like we have a handfull of movers now that can be day-traded.

I was thinking of doing currency trading until I had to watch some paint dry the other day and thought man I can't do this again. :tongue: :biggrin: :biggrin:

You could trade WU it trades like currency.

 

[Ryanmcd2]

I was thinking of doing currency trading until I had to watch some paint dry the other day and thought man I can't do this again. :tongue: :biggrin: :biggrin:

You could trade WU it trades like currency.

I will say the currency's are not that exciting and that's a good thing, but again I watch the 4hr charts so most of the time a trade will last me 2-48 hours. But I will say I still can make 15% a month pretty easy so that keeps me happy. When you trade apple and such is it news based or do you just read up on it to see what new products and such are coming out? Also do you use charts much? I know with me it becomes more of a feel like you know what it's going to do.

 

[steveny]

I will say the currency's are not that exciting and that's a good thing, but again I watch the 4hr charts so most of the time a trade will last me 2-48 hours. But I will say I still can make 15% a month pretty easy so that keeps me happy. When you trade apple and such is it news based or do you just read up on it to see what new products and such are coming out? Also do you use charts much? I know with me it becomes more of a feel like you know what it's going to do.

A lot of it is on feel. If a stock falls back I sell it I don't sit and hope it recovers, unless of course I use options to repair the trade.

News does drive a lot of the market and I do play the news, usually sell it.

If all that fails I have a magic 8 ball that is right about 50% of the time.:biggrin:

 

[da3dalus]

So you know that resistance I was looking for to hold and cue the next leg downward.... We hit it this week and rejected like it was our job.

I'm not saying this will hold, but it looks pretty damn convincing to me right now.

 

[steveny]

Took in just under 20 today. Had 3 losers, one was 5.7

 

[Ryanmcd2]

Took in just under 20 today. Had 3 losers, one was 5.7

I don't lose I just hold them forever LOL :biggrin:

 

[steveny]

I don't lose I just hold them forever LOL :biggrin:

LOL . Lots of people do just that!

 

[sahtt]

Down 12 bucks a share on CME, backing up the truck. Short crude and gold since oil popped $5 last week, but my DUG stopped out by accident.

 

[steveny]

Looks like oil snapped. My AMR trade is doing very well this morning. :biggrin:

 

[SilverStone05]

Initiated a long position in USO @ 105.

 

[steveny]

Holy phuck, I was down 56k today on one really bad trade. I came back with a bunch of small trade to close down only 2500. I am wiped out. 173 trades total.

 

[RPM217]

Holy phuck, I was down 56k today on one really bad trade. I came back with a bunch of small trade to close down only 2500. I am wiped out. 173 trades total.

I do this for a living and don't trade nearly as much as you, and I have quite a few clients and a few hundred million dollars that I'm responsible for!! You need to pay more attention to the baby and real estate that's just way too much activity for an individual that's not running a hedge fund!!!!

 

[steveny]

I do this for a living and don't trade nearly as much as you, and I have quite a few clients and a few hundred million dollars that I'm responsible for!! You need to pay more attention to the baby and real estate that's just way too much activity for an individual that's not running a hedge fund!!!!

I usually don't do that many trades in one day. I just had to today.

That friggen Jim Cramer said it's ok to put money into SOLF on his show tonight. That guy needs to be jailed. He flip flops so much.

We shall see what tomorrow brings. Thinking about going long some stuff, selling calls and taking a respite.

 

[Ryanmcd2]

Still dead market for me, going to get a new wave runner, Sea Doo RXT-X should be fun

 

[steveny]

Still dead market for me, going to get a new wave runner, Sea Doo RXT-X should be fun

I had 2 of them and they are a blast. MAke sure you get one with the updated washers in the supercharger. I blew one of the superchargers on my RXP with only 25 hours on the damn thing.

 

[Ryanmcd2]

I had 2 of them and they are a blast. MAke sure you get one with the updated washers in the supercharger. I blew one of the superchargers on my RXP with only 25 hours on the damn thing.

Ya the new one is 255hp and it has a the updated washers, should be fun. 0-50 in 2.9 sec

 

[steveny]

Ya the new one is 255hp and it has a the updated washers, should be fun. 0-50 in 2.9 sec

I did a few little things to mine and made it wicked fast.

If you want to see a good video check out hot rxp on you tube. thats a fast ski. i miss florida so much. my house is right on the intercostal and i could get up in the morning and go for a ride almost every day. sorry about the typing baby in other hand.

 

[SilverStone05]

Funny you mention that...I was in TN on the water this weekend and was trying to top out a supercharged jet ski....I forget what kind. Anyway, the water was so choppy, I couldn't get the sucker past 55mph.

Do some jet skis have governors you can set? I have a feeling that someone was trying to thwart my efforts.

 

[steveny]

Funny you mention that...I was in TN on the water this weekend and was trying to top out a supercharged jet ski....I forget what kind. Anyway, the water was so choppy, I couldn't get the sucker past 55mph.

Do some jet skis have governors you can set? I have a feeling that someone was trying to thwart my efforts.

The RXP and RXT I had come with a learning key. The learning key is white and the regular key is yellow. The learning key keeps the ski from going to fast.

I love the chop. I use to take my skis down to the ocean and fly off those waves. There was this tug boat one time pushing this huge oceanliner up the intercoastal. He was putting up some serious waves. I dropped everything I was doing and hopped on the ski. I was flying through the air. Thats the day a blew the SC.:biggrin:

 

[Ryanmcd2]

Funny you mention that...I was in TN on the water this weekend and was trying to top out a supercharged jet ski....I forget what kind. Anyway, the water was so choppy, I couldn't get the sucker past 55mph.

Do some jet skis have governors you can set? I have a feeling that someone was trying to thwart my efforts.

The learning key I think is about 40mph, the real key will let you go about 70 top speed. I am doing the RXT-X the 3 seater so I dont get pounded in chop.

 

[steveny]

The learning key I think is about 40mph, the real key will let you go about 70 top speed. I am doing the RXT-X the 3 seater so I dont get pounded in chop.

the T and P are almost identical in top speed too. I perfer the P though because I like to go crazy on the thing and do lots of jumping.

 

[steveny]

Wow I sure wish I still had those 5550 shares of FSLR short. :frown:

Oh well I still have a bunch of puts on TAN and 2k shares of SOLF short. I am up ~15k with the puts. up only 3.2k on SOLF.

 

[SilverStone05]

The learning key I think is about 40mph, the real key will let you go about 70 top speed. I am doing the RXT-X the 3 seater so I dont get pounded in chop.

I must have had the 'learning' key in. BAH.

Yea...that FSLR would be a ~ 230K gain about now. Maybe ya should have held!!! 5 bucks is nothing in a 300 dollar stock......now who said that? :biggrin: