How 'bout that stock market?

[sahtt]

I'm setting up my orders for the downside, I feel it coming this week. I'll probably keep it simple with a couple ultra short ETF's.

Lots of put action today on Tyson foods, I'm going to short it if it can't break through the 200ma [I sound like the fast money guys] around $17. A couple settlements in their favor etc. has more or less negated the fact their biggest cost has increased dramatically over the last year, their stock price is almost back where it was this time 2007, I think people underestimate their feed inflation in costs.

I'm hardly long anything, not confident enough. After another VIX in the high 20's I'll get back in.

steven bidu gave you 4 dollars today if you indeed got short at 299.xx. I was damn close to shorting it when it broke through 300 for the second time aound luch but failed to pass 302 but I pussied out and wanted to get something to eat instead of watching the moniter. Got free coffee today at starbucks, some promotional deal my girlfriend told me about. Not sure that 3$ free coffee was worth a 6$ move but oh well.

 

[steveny]

Short shares were readily available for BIDU today so I am guessing a lot of shorts got out in the last few days.

I was short 1200 shares at 288XX and I covered it at 301.50, ouch. When it pulled back I shorted again at 299XX because it looked like it was falling. I covered that at 294XX.

THEN...I went long, went short and everything in between and had my ass handed to me with .5 trailing stops. I went to 1. trailing stops and did better but when all was tallied up I had lost 20k over the last 2 days, including the first big loss.

Current positions.

AAPL at 157.53 after the April 160's I sold were cut in half today I bought them back and rolled out the July 160's for 12.05 netting ~18k. This trade will pay for the loss on BIDU as long as appl stays above 160 until July

ACI at 52.49 with april 55's sold for 1.32

AXP at 46.49 with April 47.50's sold for .75

GE at 36.75 no calls

GOOG at 482.20 april 480's sold at 19.40

GS at 179.39 with April 180's sold at 4.40

HD at 28.03 no calls

KLAC at 42.22 with April 45 sold 1.05

TMA at 1.86, the only company the fed has not bailed out yet LOL

 

[sahtt]

Man I could not get any shares of bidu earlier, I think zecco's having issues. I tried to short it at 294.xx this morning. Not cool.

 

[steveny]

Man I could not get any shares of bidu earlier, I think zecco's having issues. I tried to short it at 294.xx this morning. Not cool.

That is why I sat on my short so long is I knew I would not be able to get the shares back once I sold them. Too bad I did not wait until today to cover.

 

[poncekim]

You guys trying to short BIDU should get level 4 options and sell naked calls when you can't find shares. I sold the 250 calls and i've been buying and selling underlying shares to cover and reshort.

 

[steveny]

You guys trying to short BIDU should get level 4 options and sell naked calls when you can't find shares. I sold the 250 calls and i've been buying and selling underlying shares to cover and reshort.

Scottrade does not allow the buying or selling of naked puts or calls. :frown:

 

[sahtt]

Today I only had an hour in the morning and an hour during lunch to trade and if I can't keep my eye on it I keep it simple. That's definitely an option though. MTL had a great run today. GS is getting back near the buy range.

 

[SilverStone05]

I agree on GS.....I have a buy order on XLF @ 24. That sucker will double in the next 4 years.

 

[SilverStone05]

Picked up GE in pre market. Nice long term core holding at this price.
Techs/Financials are taking it in the ass pre-market. Might pull the trigger on GS today.

 

[steveny]

GS will be back to 235 by summer. I sold off GE two days ago may buy it back today.

 

[steveny]

Check how fast GE is on Level II. It is making me dizzy. BAck in at 32.38

 

[SilverStone05]

Check how fast GE is on Level II. It is making me dizzy. BAck in at 32.38

HA. I hope the specialist(s) who handle(s) GE gets carpal tunnel.

 

[steveny]

Bought 10 .wgeag, jan 2010 35's at 3.56 per

 

[sahtt]

I bought GS when I could get some in the 160's, I haven't gone long in this market in a while. Considering it hit 150 flat for about 24 hours while we were deciding whether the entire financial system was going to collapse, I think it's a decent buy at these levels. If we make any progress at all through this mess it'll be a 200 stock relatively soon.

 

[steveny]

I bought GS when I could get some in the 160's, I haven't gone long in this market in a while. Considering it hit 150 flat for about 24 hours while we were deciding whether the entire financial system was going to collapse, I think it's a decent buy at these levels. If we make any progress at all through this mess it'll be a 200 stock relatively soon.

I am in GS at 179, no worries. 235 by summer.

New positions since last update

WU
PMI calls
SGP
MRK calls 45's OCT
XHB
GE

sold the first GE yesterday
sold HD

 

[sahtt]

You buying the PMI calls? That and CFC were my favorite shorts when we drove off the 14,000 cliff. I've seen that stock +/- 10% often, it's tempting to play it.

You think PMI is going to have a little recovery? It won't take much to double your money.

 

[steveny]

You buying the PMI calls? That and CFC were my favorite shorts when we drove off the 14,000 cliff. I've seen that stock +/- 10% often, it's tempting to play it.

You think PMI is going to have a little recovery? It won't take much to double your money.

I bought the October calls. No I don't think PMI is going to go up in fact I have already figured I will lose the money. I only bought 50 of them at .15 each Oct. 10's. It's a lotto ticket play.

Who knows maybe something will happen with them but my guess it's going nowhere. That however doesn't take the excitement out of it and if it does pop I will have a very big surprise

 

[steveny]

My dog bought 10 more of the GE LEAP's. She hit the mouse and sent the order. :smile:

I have a big scratch on my arm from wrestling with her.

 

[da3dalus]

Finally getting into the eb and flow to the market. I've been working night and day on revising entries and exits and finally have got it to where I can just trade pure price action. I get more trades, i have a better risk:reward ratio that gets hit more often, the trades are typically hitting higher win rates, and I feel the logic of the entries, is well, pretty damn ingenious!

Started trading this way yesterday, ended up +4.25 ES, +7.25 NQ (357.50/Per). And I left a good 200/per out there on entries i just didn't take. Today were up a meesly 100/per but its still early and most of the morning has just been crappy consolidation from the huge overnight moves.

Good luck with the rest of the day gents!

 

[steveny]

This market only needs one thing, patience. Looking out to summer I think we will all be VERY happy we bought at these levels.

Currently down 22.5k on paper.

 

[sahtt]

Over due drop. Been waiting for this for a week now. My only long is only down 1%, no complaints. SKF is proportional to the market to the downside, the trend is changing. This is a another strong signal the financials will probably not lead the market down anymore. I'm trading the QID instead of the SKF. Any thing beaten down hard today worth picking up?

 

[steveny]

Over due drop. Been waiting for this for a week now. My only long is only down 1%, no complaints. SKF is proportional to the market to the downside, the trend is changing. This is a another strong signal the financials will probably not lead the market down anymore. I'm trading the QID instead of the SKF. Any thing beaten down hard today worth picking up?

GE, but I think the leaps are a better play then the stock unless you want the div.
I am seeing a lot of holding power with SGP, and XHB

AXP is a freebie at this price.

AUY is holding up nicely too.

I am getting slammed on
GOOG
AAPL
GS

 

[da3dalus]

My take on the Daily charts:

AAPL scares me right now. Yes, it defended a key area of support around 120, but the entire pattern is pretty darn bearish right now.

GS looks like it could've put in a bottom. I'd be wanting to see it break above the 181 level before initiating a position personally. But overall, not a bad looking stock.

GOOG looks good as a long term investment play holding for over a year. The weekly chart doesn't look to horrendous. But again, until it breaks the 550 level I can't say that this thing looks anything other than bearish on the daily chart.

Not that my analysis matters, you make a crap ton more than me steve! I'm just bored and thought I'd take a look at your equity positions!

Cheers!

 

[steveny]

My take on the Daily charts:

AAPL scares me right now. Yes, it defended a key area of support around 120, but the entire pattern is pretty darn bearish right now.

GS looks like it could've put in a bottom. I'd be wanting to see it break above the 181 level before initiating a position personally. But overall, not a bad looking stock.

GOOG looks good as a long term investment play holding for over a year. The weekly chart doesn't look to horrendous. But again, until it breaks the 550 level I can't say that this thing looks anything other than bearish on the daily chart.

Not that my analysis matters, you make a crap ton more than me steve! I'm just bored and thought I'd take a look at your equity positions!

Cheers!

AAPL is causing me a little concern too being I am down 15.3k on that position alone.

 

[Ski_Banker]

you guys are funny.