How 'bout that stock market?
- Thread starter Ski_Banker
- Start date
I think DRYS doesn't have any support and it's going back to -6-7 range.
Took profits on a lot of my energy holdings after the morning rally. It's all back at the top of their ranges and I picked the bottom too well last time not to take some off the table now. Sold some BP over 48, FCX @ 24.99 (talk about lucky, check out the daily chart), and sold about half my CAT at 44 for a staggering 12 point gain. That's one of those I wish I would have loaded up on at work where I have almost unlimited buying power. I'll buy a lot more if it comes back down to where the yield is any good.
Some other things got sold off automatically but I can't recall. Damn electronic arts is pissing me off. That garbage stinks so bad it's fouling up my large ATVI position that I need to downsize.
Also bought some SRS in my LT account as a hedge instead of more SDS since SRS was so cheap relative to it. Average cost was 77, sold 10% of it at 99.xx just in case a miracle happens. I plan on selling the rest all the way through 200+.
Some other things got sold off automatically but I can't recall. Damn electronic arts is pissing me off. That garbage stinks so bad it's fouling up my large ATVI position that I need to downsize.
Also bought some SRS in my LT account as a hedge instead of more SDS since SRS was so cheap relative to it. Average cost was 77, sold 10% of it at 99.xx just in case a miracle happens. I plan on selling the rest all the way through 200+.
I think a huge portion of that buying is speculation. People will get a double, hear bad news from China like they are selling less KFC or only used 8.324 billion instead of 8.424 billion of fill in the blank, and wave good bye.
Reminds me of all those people who called me up asking me if they should buy GM when it was 5.xx. I should have immediately went to my computer and shorted as many shares as I could get. Every once in a while you can get some shares if you have a LVL2 window and you have it automatically alert you when shares are available.
I closed the drys calls today, 21k profit.
Still sitting on the C I think I will hold those leaps as they don't expire until 2011.
Drys may go lower but I was done with the stress of holding the puts.
Hey Shatt, post more would ya. I am interested in what you are trading.
opinions on XL capital? GS?
Looks like my BAC calls are going to be worth ZERO next friday
6k loss.
I closed the drys calls today, 21k profit.
Still sitting on the C I think I will hold those leaps as they don't expire until 2011.
Drys may go lower but I was done with the stress of holding the puts.
Hey Shatt, post more would ya. I am interested in what you are trading.
opinions on XL capital? GS?
Looks like my BAC calls are going to be worth ZERO next friday
I refer to my personal (long term=LT) account here 95% of the time. My trades at work are completely different and difficult to replicate in real time, my average hold time is 97 seconds as of my last discussion with the quant team (analyze your trading 10,000 different ways, efficiency during certain time periods, success depending on type of trade, things to avoid, things to add more size to, etc.). I'm adjusting it for longer intra day positions so it's more scalable but lately it's just got me a few huge winners and a few more significant losers.
I trade SEB and BRK.B occasionally as well just to try to learn new skills. I'm slightly profitable with SEB but I got murdered in Berk one day so I'm net red in that one. I've been trading 25-50k shares of POT lately (daily total) but I end up throwing away most of my gains trying to go for home runs on other stuff. I'm implementing some new disciplinary measures next week on days we are below the overall relative volume market wide. On weak volume days I have been over trading since I'm still in october/sept mode.
I spent about 5% of my portfolio on SRS at 77 yesterday. Let the bodies hit the floor.
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I did some research on EEV, that bastard I was pissed off about for a while.
A guy that sits behind me on the floor does a lot of net asset value/etc. type analysis and trades with ETF's. I made him some $$ when he first started trading options by telling him to buy some 140 puts on SKF when it was over 200 that one time.
He heard me complaining one day and did some homework on it as a small favor. It turns out that a significant portion of the hedging mechanisms that EEV uses are currency based, something SKF/SRS/etc. do not have to deal with. The dollar rally changed the way EEV works. I know a couple guys on here bought it up when it was pretty high. I thought I got in at a tremendous price in the 80's and ended up selling at 120 very disappointed.
If the dollar remains moderately strong EEV probably isn't going to go up a lot.
A guy that sits behind me on the floor does a lot of net asset value/etc. type analysis and trades with ETF's. I made him some $$ when he first started trading options by telling him to buy some 140 puts on SKF when it was over 200 that one time.
He heard me complaining one day and did some homework on it as a small favor. It turns out that a significant portion of the hedging mechanisms that EEV uses are currency based, something SKF/SRS/etc. do not have to deal with. The dollar rally changed the way EEV works. I know a couple guys on here bought it up when it was pretty high. I thought I got in at a tremendous price in the 80's and ended up selling at 120 very disappointed.
If the dollar remains moderately strong EEV probably isn't going to go up a lot.
I was looking at the same thing with EEV after you mentioed it. I was unsure of the way it worked so I didn't trade it.
I am going to pm you two other ETF's to look at. Shhhhh...
There is a very strong possibility the auto bailout will not occur soon and a strong possibility it will not get done until just before the end of the year. Could get real sloppy in the mean time.
Futures down 300. Should be up near 70-100% on my SRS position right now.
Futures down 300. Should be up near 70-100% on my SRS position right now.
Yep, I am reading the article right now. Too bad I took those DRYS puts off at the end of the day. Oh well don't want to be a pig. Looks like some buying opportunities are coming soon.
I am ready to meet with the CEO's of GM, F and Chrysler as well as the UAW. I will slam my fist down on the desk and say, beggars can't be choosers.
It's pretty evident they the CEO's can't come up with anything on their own. Heck can you imagine if just one of those CEO's had driven to the first meeting and had already sold his jet. He would be running all three right now.
But alas all three came to the second meeting in their cars as they were "told" to do. They once again came up with nothing fresh. They have no plan. they have nothing but their hand out waiting for money to be put in it.
WHERE ARE THE LEADERS?????
It's pretty evident they the CEO's can't come up with anything on their own. Heck can you imagine if just one of those CEO's had driven to the first meeting and had already sold his jet. He would be running all three right now.
But alas all three came to the second meeting in their cars as they were "told" to do. They once again came up with nothing fresh. They have no plan. they have nothing but their hand out waiting for money to be put in it.
WHERE ARE THE LEADERS?????
Made some $$$ on the gold stocks this morning. Check out ABX/AEM after the open.
Internet high five for you. My bad (edit), I thought you said bank:redface:
I can't hold my excitement any more. Everyday I wake up at 5 am busting with excitement, trading is so much more fun than driving the NSX. I was wishing for a massive bloody day so I could bank big time from picking up pieces. I just need one more massive bloody day, but the market seems to be absorbing bad news really well lately. I wish everyone well and bank in big regardless of the approach one takes.
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Yep, my LT's hedges are back to flat and I've got a lot of cash. Ready for the big drop any time now.
Steve, mark was out of the office besides the open and I was wrecking shop so I didn't talk to him. I checked them out a little during lunch and as I expected spread/etc. looked trade-able. Did you have any luck with them today? I broke out my gold stock basket and did pretty well. Gave some of it back but still made enough to cover my 2-3 mediocre days this week.
Steve, mark was out of the office besides the open and I was wrecking shop so I didn't talk to him. I checked them out a little during lunch and as I expected spread/etc. looked trade-able. Did you have any luck with them today? I broke out my gold stock basket and did pretty well. Gave some of it back but still made enough to cover my 2-3 mediocre days this week.
no luck today. Although the market did pull back I didn't make anything but I didn't lose much either about 240 buck down. I was on with puts looking for some sell off pressure. The market is really absorbing bad news quite well or maybe just not accepting it yet. Big down day is coming.
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- 18 November 2004
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GS posts a $2.1B loss and they go up 6%??
AXP is driving me NUTS!!!
I have been looking around the last few day to make sure this Madoff didn't get me for any money. It looks like they say funds invested with him.
Nobody had any idea what GS was going to report. 2.1b is pocket change. How much it's up or down today is irrelavent. If the market rallied huge yesterday it would probably be down, but since we were down a little it's up a little.
I've had a pretty $hitty morning. Take a zero off my total shares and you have my losses, ouch.
I've had a pretty $hitty morning. Take a zero off my total shares and you have my losses, ouch.
Well I got 80 I wanted 90 /contract. Oh well. I hope it gets pinned to 20 and they CC's go out at .05 or zero would be even better.
Looks like it is going to cost me 1/10 of the original principle to pay back any debt. Man the dollar is going to be worthless for a while.
I thought oil would have gone up with the dollar getting raped.
Looks like it is going to cost me 1/10 of the original principle to pay back any debt. Man the dollar is going to be worthless for a while.
I thought oil would have gone up with the dollar getting raped.
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