Weinstein Trading and Fading

[Robert Weinstein]

Quote from mastacoli71:

Hope it works out for you. Good luck.

Thanks, it's already working out fine. It started out a little rough, then went up nicely, and now is back under a little bit.

My size is small and I often goes more than a day to check on the price which is unusual for this day trader who goes the entire day someones without leaving the desk. I am ok to hold on a few more months and see where this journey takes me.

If they report a loss I will have to cut and run but as long as the cash keeps piling in I will (with a hedge of course, these days one shouldn't trade without wearing protection)

 

[Robert Weinstein]

Quote from HurricaneUS:

there goes Pootie Tang again...randomly posting charts out of nowhere that no one really cares about....and in his own rambling dialect

Yeah, not all that surprising in my opinion.

My guess is the news may be the most thinist if management is looking to sell out. I would not be the slightest surprise if RIMM doesn't have a deal by this time next year

 

[Robert Weinstein]

Shot another video today. Starting to gain confidence in front of a camera so that's a good feeling. Also spent some time listening to Mark Douglas who I think is a great writer.

Apple seems like it will be a while before we see the iCrash but who knows. The PE isn't crazy so this party could go on for a while.

I am finishing up "Trading VIX Derivatives" and its a good book. Hopefully I will get around to writing up a review sometime before we are all dead.

Not much for trading as I had to swap out a drive in my main trading computer. I did keep a close eye on apple though.

 

[Robert Weinstein]

I closed out of P which was my weekend bounce carryover long for + 0.22

hedged my RIMM shares once again for $1.10 $15 april strike. gotta love the massive premiums

 

[Robert Weinstein]

Long VXX currently at $18.72 and bidding lower

 

[Robert Weinstein]

added $19 strike price call hedge to gain option premium over the next few days with the trade.

 

[Robert Weinstein]

VXX and TVIX especially had a couple of tough days being ETNs last week.

As attractive as TVIX looked to fade making the combo 13 I decided to pass. Without options to trade on it I stuck with VXX and added by fading the move with $17 April puts.

 

[jnbadger]

Quote from Robert Weinstein:

As attractive as TVIX looked to fade making the combo 13 I decided to pass. Without options to trade on it I stuck with VXX and added by fading the move with $17 April puts.

What a mess that thing was yesterday. Just goes to show that even though an instrument is based on an underlying idea, if someone decides to drop coverage, all bets are off.

Glad you didn't touch it.

 

[Robert Weinstein]

Quote from jnbadger:

What a mess that thing was yesterday. Just goes to show that even though an instrument is based on an underlying idea, if someone decides to drop coverage, all bets are off.

Glad you didn't touch it.

Hey Badger,

yeah, unreal. I wrote some puts with VXX but it wasn't my standard day trade. I am looking to gather premium. So far so good as of the time I write this. it's been a bumpy (and so far) profitable ride.

 

[Robert Weinstein]

Trading update.

I missed out on a great call fading HEAT the other day. IB didn't have any shares.

I am still net long via short put options on VXX. VXX gave lots of love today and now the position is firmly in the winner column. With time decay working its magic it should continue to be good