A little advertising maybe, Don? I'm not quite willing to call bullshit on you here, but a look at that spread both fundamentally and technically pre-merger doesn't make me think long HLT short MAR was a do.Quote from Don Bright:
A lot of money was made by the guys long HLT Short MAR (or even short HOT). Not "hell" in my book.
Don
The Opening Orders Thread
- Thread starter Don Bright
- Start date
Agreed
Looking at a (hlt - .8mar) spread was at upper end of range going back to 2003
Reversion pair trader would not be in this...trend followers might.
fundamentally with hlt at 35 and mar at 44 the pair trade was a push based on P/E...it is understood that brights pair traders use a trailing p/e for some reason.
Market cap was slightly in favor of buying spread
price to book was right way to be buying spread
peg ratio was wrong way to be buying spread
price to sales ratio was wrong way to be buying spread.
Given the level the spread was at before merger announcement it was a marginal do at best
4 long, mostly small positions, 2 wins, 2 losses, -139
One small winner +$180 (HPQ) - will be cutting back, trading manually during our 3 day class.
Don
Don
My bids were rejected. My offers were spurned.
Another small day +$200.
(Back to students, geez nice big class this time).
Don
(Back to students, geez nice big class this time).
Don
2 long wins, +271, 3000 shares
I think you are overdue for a big day Chiguy...
I think you are overdue for a big day Chiguy...
Another small one +$200 in WYE.
Back to "normal" trading tomorrow, school is over today.
Don
Back to "normal" trading tomorrow, school is over today.
Don
Well, "normal" went from about a $800 winner, down to a $200 loser, and back to a stup $200 winner again...stayed in too long, LOL.
Maybe better tomorrow....but, with earnings season upon us again, we'll have to switch out some stocks.
All the best everyone,
Don
Maybe better tomorrow....but, with earnings season upon us again, we'll have to switch out some stocks.
All the best everyone,
Don