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Thread: Stock traders corner

  1. #11
    I'm waiting for a pullback before I do anything...and I mean anything.

    I would love to get back into GERN and ACOR if they became victims of a general slide but other than that.....
    And the truth shall set you free.

  2. #12
    Suspended Andy's Avatar
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    Yeah, you got your pullback, cleaned out everything from yesterday, lol. I was going to fill the gap with some q's 28 calls this morning, but didnt look good so I bailed with <$100 loss. Thought the thing wouldnt be worthwhile to mess with today, and SPY put premiums were quite premium, so I did nothing. Probably should have loaded short but hey, nice not being in the market sometimes, even after seeing the money you missed making.

    I'll look around allstocks, but I really dont like getting tips or stuff like that, just bounce around on my own. I figure it isnt a hot tip if a few million people hear about it, too crowded.

    Well, I'm clueless what's next, but things seem grim. Maybe if we get some momentum that looks like S&P 700 is the new stomping ground I'll bite. And WFC GS AAPL GE looks to be things that still have some excess weight on them that needs trimming off We'll see.

  3. #13
    What do you think, next floor 7600, then 7300 and then KATTIE BAR THE DOOR!

    I'm diving on into ACOR and GERN when the overall market pulls them down.

    PS, I won't touch GE. In my eyes they are the biggest example of "Too big to fail,"
    and I don't want a ride on the Titanic.
    And the truth shall set you free.

  4. #14
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    I dont know what the next floor will be, but I suspect that the January support levels might be cracked, or at least revisited.

    GE...those black box finances might be not so good, seems the market is thinking the same. I'm not hitting it directly, too slow for me.

    Too big to fail? I kind of am thinking of the United States when I hear those terms. Weimar Republic anyone? (just saying ) Go Bailouts!!

    Anyhoo, yesterday opened green so that was my que...first thing SPY puts and WFC puts and I gotta pat myself on the back for the 3:29pm EST exit on those, lol. Speaking of WFC...seems the rating agencies are starting to re-rate some of those AAA rated pieces of paper to CCC? Ruh roh. Sign of things to come?

    I got to thinking I might as well stay in the game and have a horse to ride for next week, so I'm the proud bagholder of a bunch of SPY Feb 83 puts aquired on the close. We'll see how that works out.

    Good luck!

  5. #15
    No way! You had puts the next day! LOL I'm so green. Only a true master would know to ride the wave down the very next day!
    And the truth shall set you free.

  6. #16
    Suspended Andy's Avatar
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    True master? More like compulsive gambler. Well, that and failing to follow-through on a moving average break along with support levels getting creamed. The overall economic picture is pretty in your face, just gotta watch the market reaction to news though, as evidenced by early last week, then go long 'cause the market more than likely will get goosed.

    I'm getting kinda worried about hanging short over the weekend, the gap down possibility is there with all the bad news, but that seems the easy trade so the market might go the other way, lol. I dunno, the initial panic is over and all it takes is some fund to hit the buy button and create a panic amongst the CNBC zombie traders to cover. We'll see, but I think the Obama stimulus plan hoopla is played out and reality and gravity of the situation is sinking in. My shit has 3 weeks to play out before it turns into a pumpkin, so....

    The main thing is the ability to stay in the game, dont go all in and leave cash available to hit something should the opportunity present itself. Also, hope and maybe doesnt work on a bad trade, take the loss before it gets worse. If you can win more than lose you'll do good. Now if I won a whole lot more than I lost I could quit my job and just gamble away at my leasure for an occupation, but my crystal ball aint that good, lol. But it is a fun game to play and the odds are 50/50 in this casino, better if you can get a feel for how it works, so that's better than Vegas, eh?

    Good luck

    Oh yeah gold fans...watch to see if 930/oz gets blown away towards the upside, that time to watch that is upon us again next week I believe.

  7. #17
    Gold went a wee bit kerplooey. 8)

    Quote Originally Posted by Andy View Post
    True master? More like compulsive gambler. Well, that and failing to follow-through on a moving average break along with support levels getting creamed. The overall economic picture is pretty in your face, just gotta watch the market reaction to news though, as evidenced by early last week, then go long 'cause the market more than likely will get goosed.

    I'm getting kinda worried about hanging short over the weekend, the gap down possibility is there with all the bad news, but that seems the easy trade so the market might go the other way, lol. I dunno, the initial panic is over and all it takes is some fund to hit the buy button and create a panic amongst the CNBC zombie traders to cover. We'll see, but I think the Obama stimulus plan hoopla is played out and reality and gravity of the situation is sinking in. My shit has 3 weeks to play out before it turns into a pumpkin, so....

    The main thing is the ability to stay in the game, dont go all in and leave cash available to hit something should the opportunity present itself. Also, hope and maybe doesnt work on a bad trade, take the loss before it gets worse. If you can win more than lose you'll do good. Now if I won a whole lot more than I lost I could quit my job and just gamble away at my leasure for an occupation, but my crystal ball aint that good, lol. But it is a fun game to play and the odds are 50/50 in this casino, better if you can get a feel for how it works, so that's better than Vegas, eh?

    Good luck

    Oh yeah gold fans...watch to see if 930/oz gets blown away towards the upside, that time to watch that is upon us again next week I believe.
    And the truth shall set you free.

  8. #18
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    Quote Originally Posted by NoDecafPlz View Post
    Gold went a wee bit kerplooey. 8)

    Market not skeery enuf

    818 again, lol. Wouldnt crack this afternoon so it got gunned once out of the trendline. Booooooring. Added a batch of SPY 82 puts today. Now to make some money..... (or lose my ass, lol)

  9. #19
    Did you do ok? No need for those puts today huh?
    And the truth shall set you free.

  10. #20
    Suspended Andy's Avatar
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    Razzle dazzle...

    Still holding the two batches of SPY slop, and added a batch of 85 puts around today's stall at spx 850. That's the marvel of extra ammo...you f-up (although you gotta admit that was some good tape painting yesterday, lol), you can dig your way out.

    CSCO 16 puts on the close today. Looks like guidance sucks (duhhh, if T aint buying stuff, who else is?).

    2.5 weeks for my grand plan to take shape or turn into a pumpkin. Although I look to be in cash for the weekend, we'll see.

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