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Thread: Stock traders corner

  1. #31
    Suspended Andy's Avatar
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    Quote Originally Posted by quad80 View Post
    Is anyone playing a financials bounce on news tomorrow? I put on a Feb 10/12 Vertical Call spread on XLF earlier today. Pure speculative play, so will see..
    Wait, you did this today?

    Yeah I guess there could be a pop, but I think that the run already happened. From what it looks like...I'm wondering how the private sector is going to be all over bad paper, seems like a loser plan to me (not to mention the private sector was just credit bubble momentum, wondering how that might work now).

    Well, unless that guy doesnt have anything more important to do like wash his cat or something again...tommorrow should be interesting how an insolvent financial system will be fixed.

    Good luck

  2. #32
    Senior Member Duran's Avatar
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    Quote Originally Posted by quad80 View Post
    Duran, I can recommend 1 book that I've read on option trading. I do more option trading. "Option Trading for the conservative investor" Michael Thomsett. As I mentioned above there are many free online class you can take. Amazon has many books on subject with reviews depending on your trading style and markets Futures, currency, equities, options, etc
    Quad80, thank you very much for your advice!

  3. #33
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    Your welcome Duran.. Below are a couple of free education sites that you might be interested in

    http://www.informedtrades.com
    http://www.optionseducation.org
    http://www.babypips.com FX Trading


    9:30 am CST XLF tanking not looking good on that trade..

  4. #34
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    Hope you got out ok from that one.

    I gotta say, it is nice to have the gubment actually face up to reality...even if they dont really have a plan (can there be one?). But I think the jig is up, new lows? Bust out the crayons and pick a line to draw to match up your view of Elliot Waves, maybe that meeting someone had earlier this month with the Working Group has a plan for that, maybe Goldilocks will sprinkle fairy dust on the market....you see where I'm going with this .

    Anyhoo, still sitting on the pile of SPY puts and a batch of nothing CSCO puts (they actually might run, but I'm planning a dump right now at 15 for the time being). I suspect the Titanic might be off to the races at least for a day or two.


    On a side note...I found this rather interesting...

    Why TARP?

    So NOW the news is coming out

  5. #35
    So I guess I should have bought gold on the dip, I know I know.

    So what's the best play if the dollar collapses? (kidding almost)


    Quote Originally Posted by Andy View Post
    Hope you got out ok from that one.

    I gotta say, it is nice to have the gubment actually face up to reality...even if they dont really have a plan (can there be one?). But I think the jig is up, new lows? Bust out the crayons and pick a line to draw to match up your view of Elliot Waves, maybe that meeting someone had earlier this month with the Working Group has a plan for that, maybe Goldilocks will sprinkle fairy dust on the market....you see where I'm going with this .

    Anyhoo, still sitting on the pile of SPY puts and a batch of nothing CSCO puts (they actually might run, but I'm planning a dump right now at 15 for the time being). I suspect the Titanic might be off to the races at least for a day or two.


    On a side note...I found this rather interesting...

    Why TARP?

    So NOW the news is coming out
    And the truth shall set you free.

  6. #36
    Suspended Andy's Avatar
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    I dunno...my 'investing' horizon is a couple weeks max.

    But while inflation is a spector which can come to mind with the printing presses going full time, deflation might be the issue at hand. No one spending, high inventories, prices down to drum up sales, vicious cycle, and so forth. I'm no economist so...

    Regarding gold...like I said, I think that somewhere in this mess is someone unloading a stash of gold to stay afloat. Wait until a decisive move beyond ~930/oz. I'll bet that once that is cleared there should be some more upside to that. But then there is that whole currency situation...hmmm. Unless you just want to buy a brick and stock up on firearms and MRE's . And you thought Y2K was skeerry...that D word is being banded about now

    We'll see if this thing breaks S&P 8-teens. Today was the kind of selling I like, maybe it will continue for some nice winnin's

  7. #37
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    On GLD...looks like a move is afoot? 50/200 'golden' (catchy, eh?) cross today, on over double 55m volume. I couldnt resist, batch of Mar 90 calls on hand now.

  8. #38
    Suspended Andy's Avatar
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    Cool day in the market. Did a wholesale purge of my account with the mornings drop and bailed on everything, too close to OE week. Toughest 12% overall gain in a while. Celebrated cashing out with...more gambling, lol (daytrade style however). XOM 70 calls for the bounce in the AM, then some Q's 28 calls for the LOD retest in the afternoon (which I bailed early on before I knew about Obama paying everyones mortgage ??). Missed .50 on the common, but money's money.

    All in cash again, and happy for it, dicey 2 weeks.

    And how about that perfect timing of the mortgage announcement? Just coincidental of course, lol. Glad I wasnt short in front of that.

    Anyway, total traders market here, I wouldnt invest in this crap, but for quick hits it's good if played right.

    What are you guys doing? I feel like this became my thread now or something

  9. #39
    Bought GLD yesterday morning. Hasn't moved a whole helluva lot.
    And the truth shall set you free.

  10. #40
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    My XLF 10/12 Vertical did not pan out. Hoping to get a bounce so I can bail, but running out of time with 7 days until exp. The delta on vertical is around 15.31 now not much there, hope to get out with small loss. I did only get in with 1 lot so will not hurt that bad.

    I managed to squeek out a couple of pts on a e-mini s&p futures contact yesterday, but its real choppy, but with the positive gain I'll take it for the day.It helps lessen that XLF trade. I'm going to see again today once it falls back and hold to this pivot pt, may give it a shot. Good Trading

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