The Super Terrific Happy Hour

Wow, who the fuck could have seen this coming, pretty rattling cause i have a buddy of mine at my house helping me install new flooring in my bathroom today, so i was doing that with him, didnt even look at the markets this morning. Then while he was gone to home depot to pick some stuff up I went and glanced at the markets real quick and its an absolute bloodbath, unreal, missed the best goddamn day in months, and now i got to go back to helping him cause hes back, came in looked at the market for like 10 minutes, saw the obvious bottom on the ES at 2400 so i decided to short TVIX, , made 500 bucks real quick, now i got to get back to putting in this flooring, what a horrible horrible day to miss.

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Nothing for me this morning guys, i tried shorting the TVIX when the sandp was trading around 2419, but i wanted just a little more push both times and missed it, i think the bottom probably holds now at 2419, as the volume is going to dry up pretty quickly this afternoon with everyone taking off for a long weekend.
 
vanzandt said:
Lookin good.
Geez. Look at CARA. Down 35%. There's some miserable traders out there somewhere.
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Yeah nice move on CARA both ways, thats why i kind of hate holding biotechs overnight, if your holding a biotech overnight you have to expect you could be cut in half at anymoment, so you have to size accordingly.
 
Im out to the lake for the weekend guys, careful trading this afternoon cause its going to be a big algo circle jerk now, everyone taking off for the long weekend, illl be back wednesday or thursday, have a good long weekend everyone and happy Canada day to fellow Canadians, and happy Independence Day to all you dirty yankees. :D
 
beerntrading said:
What are you seeing that made you get out? Why not just tighten your stop to $150.90 or so? I don't see anything bullish about this one...especially on today's low volume.
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1) Monday is a half day with low volume, the market goes higher most of the time.
2) I want to free up some cash for when the nasdaq breaks
3) I can always reshort Wednesday morning.
4) I am drininking Mint Juleps :)
 
Chuck Krug said:
1) Monday is a half day with low volume, the market goes higher most of the time.
2) I want to free up some cash for when the nasdaq breaks
3) I can always reshort Wednesday morning.
4) I am drininking Mint Juleps :)
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Ah...I wondered if it was greener pastures / short week decisions. I'm flat right now for short term moves.
 
Chuck Krug said:
1) Monday is a half day with low volume, the market goes higher most of the time.
2) I want to free up some cash for when the nasdaq breaks
3) I can always reshort Wednesday morning.
4) I am drininking Mint Juleps :)
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Promised myself I wouldn't open the phone thus weekend and start looking at quotes but I'm a junky and thankfully other people are cooking lunch.

I think your analysis is spot on here Chuck, it's exactly what it was thinking, I wouldn't be surprised to see the market and most stocks grind higher Monday on air, with no volume, in fact I'd very surprised if that didn't happen.

That was an awesome trade on NFLX , good analysis I was thinking exactly the same thing about low volume Monday so I just took off, I'm looking at it the same way I think next week the market could go down, but no point holding onto that, when you will take heat on Monday almost guaranteed, if/when the market melts down there will be plenty of opportunity to re enter next week. enjoy the mint julep and enjoy the weekend come back Wednesday refreshed.

Only thing I can really criticise here is the mint julep, that's far too classy for a low life like me, I prefer to simply hook myself up too an I. V. Bag full of cheap vodka on weekends like this. :D
 
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