For Directional traders

Quote from qiuniu:

This was an awesome day for puts.

AUVI
FCLWH
NBRVN
VLOVD

All big winners.

Starting to look at new plays.



Anyone still here?
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congrats!

i started this thread but decided to start another thread on the journals forum for posting actual positions. i know it has nothing to do with it, but i'm running cold, big time. maybe i should have just continued posting here :D .

took some big losses the past few weeks. last week was a positive week that wasn't closed-out and has turned into a negative for this week. complete debacle going on with my psyche.

i am considering quitting for the year (while i'm still ahead).

the other thread that was started by multioption has got my attention! it wakes up the trading bug!!

Good Trading.
 
Hi all,

I've been quiet the last couple of weeks - tiring of losing for one thing, and just returned from a one week holiday. I see markets crashed while I was away, and someone I see made some good money - good for you! I made some good money as well about 2 weeks ago when Cramer at Madmoney advised getting into Southwestern Energy - SWN, just before it rose about $10. 2 days ago, I got back into GOOG and ECA-TC bullish - we'll see how long it takes the markets to recover. I'm running NOV calls so I've some time to wait.

Are you still bearish on GOOG's earnings come Oct.20, Jerry?

Good Trading to all.
 
Quote from Rob on Business:

Hi all,

I've been quiet the last couple of weeks - tiring of losing for one thing, and just returned from a one week holiday. I see markets crashed while I was away, and someone I see made some good money - good for you! I made some good money as well about 2 weeks ago when Cramer at Madmoney advised getting into Southwestern Energy - SWN, just before it rose about $10. 2 days ago, I got back into GOOG and ECA-TC bullish - we'll see how long it takes the markets to recover. I'm running NOV calls so I've some time to wait.

Are you still bearish on GOOG's earnings come Oct.20, Jerry?

Good Trading to all.
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very nice to hear you made good money on your play with SWN!

i'm taking a break right now that may last until next year. it seems everything i did the past 3 weeks have been the wrong. i had some bad picks, but even worse, i did the wrong things at the wrong time. i don't wanna list them as there were so many and i'm trying to forget them :D

on the good note, i am still in good shape for the year...

i'm still watching. i like the other thread that was started by multioption, but my psychology is not fit for doing anything right now. too much fear, i guess.

re: goog - this earnings will be a toss-up, i think. they had great earnings the past quarter and i think that makes it tough to match or exceed. gas (high energy costs) has been a reason that has been given by companies reporting lackluster results. whether it's an excuse or a real factor may or may not play in goog's case.

if i was to pick a direction, i would pick the downside for them. however, i would pick a very long term (say, march06) puts, albeit, way out of the money if i was gonna play them.

Good Trading...
 
Jerry, sorry to hear of your defeat - I admire your resolve to quit while you're ahead. I doubt I could do that! Thanks for the input regarding GOOG- it and the Nasdaq are still taking quite a beating - seems the price will be quite moderate (relatively) by the time E.R. comes around Oct.20. Cramer's still convinced it's good for at least $350 by Christmas. This is the first time I will not be trading everyday or so - holding on to my Nov.340 call and my ECA-TC Nov.60 call, through this drawdown. Chagi has said earlier Oct. is traditionally a down month, which I am taking to heart, but the slides have been quite drastic this last week or so already - seems it has to level out soon.

I hope you keep in touch - it's been a pleasure palavering with you. :)

God bless you.
 
May God Bless You, too, Rob.

i'm just gonna be on the sidelines for now... like everyone else, i'm thinking this is the bottom and there's very little risk in going long (buying calls on spy or any of the market-correlated big movers out there). i see the "indicators" that i watch and they're saying "go long, NOW!". oil prices are down (at least from their highs and are below 65), dollar is coming back very strong against the yen and against the euro as well, and we are at a bottom on the spy trading range.

the problem is with the majority thinking the same way and possibly buying the dips, why can't we change the direction of the current downtrend? i think we need one big downmove or some kind of catalyst or we're gonna keep drifting down.

i'm just on the sidelines for now but this current situation is an opportunity and i most likely will go back in when i see a signal. i just hope the market doesn't get away from me, but if that happens, i'll be content to miss it and continue with my break...

Best Wishes on your trading...
 
Okay so I'm a total rookie here, but I'm wondering why you guys are sitting on the sidelines, I'm making a killing with puts in this market.

Good trading, safety, or whatever you want.
 
My excuse is that the markets crashed just after I left the country on holidays and I didn't want to babysit my acc't and bring my knotted stomach to my little escaoe from life. I did enter 2 bullish pos'ns 2 days after things started south, thinking it a good time to go long, and after I got back, I had far too much work awaiting me to daytrade, so I'm just sitting on them.

I think my energy pos'n will start to recover now, but GOOG's E.R. is 4 trading days away and am not sure which way the fallout will go. I still tend to be bullish on it, just on the history, and Cramer is bullish on it too.
 
Quote from Rob on Business:

I still tend to be bullish on it, just on the history, and Cramer is bullish on it too.
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Cramer is the posterboy for the permabulls.

Profits aside I hope for the sake of the country, he's right about this being the bottom.

Be careful out there.
 
Did anybody hold a call through GOOG's E.R.? I'm glad I did - mine grew from $300 to $1100, I then traded it in for a higher strike at a lower price to free up some profit to keep aside or trade on a special occassion. I hear it's good for some more and I'm buyin' it.

Be wary of energy - very choppy, and oil might go down even farther. Natural gas should be going up soon just on the increasing demand due to cold weather and SWN should grow and reflect that.

I'm going to try and ride F's and ELY's downtrend for puts, see if there's some short term profit there.
 
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