Quote :

" Having said that, I'm eager as hell to violate both of those rules by buying some May 65 calls on SDS for 4.40. "

They are only trading for 7.50 right now is all.

4/20/2009 1:30:15 PM

There's something sweet about having all of your FAS called away at 9 and then buying it all back at 7.20.

With the exception of some HOG calls that I sold months ago, everything that was called away on friday is now substantially lower and back in my portfolio.

4/20/2009 1:35:00 PM

also got some AMZN @ 78.25

4/20/2009 2:58:43 PM

BB&T has some really good looking calls right now. You can buy the stock at 19.75 and then sell May 20s at 2.25.

Pretty good rate of return.

4/20/2009 4:01:40 PM

just sell them naked

[Edited on April 20, 2009 at 4:03 PM. Reason : .]

4/20/2009 4:03:38 PM

also, got some MS too early in the day @ 24.9

4/20/2009 4:06:36 PM

I wish I'd gone naked on all of my calls last month.

7 out of 8 were considerably lower today.

^ I bought some at 24.77 a few weeks ago. I sold May 28s on it on friday for 1.30 and bought them back today for 0.85.

[Edited on April 20, 2009 at 4:13 PM. Reason : .]

4/20/2009 4:09:34 PM

Quote :

"also, got some MS too early in the day @ 24.9 "

I did this last week with SRS and FAZ. It's the difference in me being still under by about 8-10% on both versus being up 10-15% had I just waited and grabbed them at EOD or at any point the next day.

Having said that, if I would have used stops I'd probably be up the full amount of both of them as I was looking to "double down" on both of them last week.

4/20/2009 4:12:58 PM

Bought some MS calls, AMZN calls and some SKF puts before the close. I'll be looking to sell them in the AM.

4/20/2009 4:28:44 PM

Does AMZN have earnings coming out soon or something?

4/20/2009 5:06:25 PM

If Turner radio's report on the stress test turns out to be true (which I don't think is a longshot) then whoa be anyone long.

4/20/2009 5:50:02 PM

"Turner Radio"? Bwahahahaha.

I've known about Hal Turner since salisburyboy began linking to his website. He makes wild speculations and chalks it up as fact thanks to his always unnamed sources hoping that one of his doomsday scenarios will pan out and people will hail him as a legitimate news source.

A year or two ago he claimed responsibility for an earthquake in Peru, stating that after murders in New Jersey he had men plant explosives on a fault line to get back at the hispanics.

4/20/2009 7:33:40 PM

I pretty much got assraped today, it was tons of fun to watch

4/20/2009 8:08:12 PM

i couldn't help but to laugh

4/20/2009 8:56:59 PM

I bought 25 shares VZ today at $30.80. A third of the money I used for the purchase I made off of Apr $32.50 calls that i purchased for $.35 in March and sold for $1.05 4/2

I still have 27 shares of CSCO. I want to purchase more; everything on the balance sheet looks good. However, time and time again i get soured as the stock underperforms.

Does anyone know why cisco does so crappy despite their mammoth size, cash position, dynamic portfolio, wide moat, and relatively debt:equity ration? with a P/E of 13.84 for a aggressive growth tech i just don't get it.

Despite the fundamentals i can't buy more if wall street is just to let it spin wheels.

[Edited on April 20, 2009 at 10:42 PM. Reason : l]

4/20/2009 10:37:35 PM

At the close of the market on Friday, between my play account and my 401k I was down about 5k. As of right now in premarket I am down about 300. Hoping we sneak right past 825-30 and head towards 805. Will take a good chunk of profit there and leave a small amount in case we make a move towards 780.

4/21/2009 8:32:42 AM

^^

low growth. We try to act like we're a growth company, but we're already the 800lb gorilla in the industry, and at this stage, we should be paying dividends rather than the idiotic stock buyback we do every few months.

Yes, we're profitable, we have a ton of cash and little debt, but there's nothing sexy about CSCO as a stock. At best, over the long haul, you won't lose your ass... we'll still be here, which is more than you can say about a lot of companies.

4/21/2009 8:35:39 AM

Got the hell out of FAZ for maybe 4% gain. Currently removing F, A, S, and Z from my keyboard for a few months.


Looks like the quant programs are doing whatever they can to hold 830-835. Any dip under here and I'm buying something again.

[Edited on April 21, 2009 at 9:42 AM. Reason : .]

4/21/2009 9:37:44 AM

LoL I held some from the 13th until today and got out with a 20 percent gain on one buy then 10 percent on another buy

4/21/2009 9:41:46 AM

finally got out of the SRS i bought a couple of weeks ago at $53.

took a huge loss, but better than it was on friday.

now watch it shoot up.

ugh.

4/21/2009 9:43:01 AM

anyone buy any C lately? anyone thinking about it?

4/21/2009 9:48:54 AM

thinking about picking some up today but there were a lot of negative reports yesterday

4/21/2009 9:55:44 AM

There is an impending crash in CRE. You just don't hear about it because it isn't as sexy for the MSM to talk about as home foreclosures. The only reason SRS has been beaten down lately is GS manipulating SPG and Kimco causing them to pop up (and SRS down). It won't be sustained and I see SRS going back to the 50 range by the time this next down leg finds its bottom. I made the same move as you and got lucky as hell, I took a position at 54, stop at 52 and got booted out of it when it briefly touched 51.96. I was pissed when it closed at 52.4x that day, but felt like a champ when it gapped down to 48 the next morning.


Why are you guys bothering with C? They are the weakest of the bunch, hands down. Buying C is nothing more than hoping you get it in some sort of a trough and hope that the government continues with it's "not gonna let em fail" campaign. With noise about the stress test getting louder and louder, it's just too risky of a gamble that the real result gets out and craters C.

[Edited on April 21, 2009 at 9:58 AM. Reason : .]

4/21/2009 9:57:04 AM

agreed, CRE is just starting to melt down, and residential foreclosures will probably start accelerating shortly.

Even if SRS pops, you get killed by the decay inherent to the ETF if you hold it very long.

i'll probably get back in shortly, but i'll be goddamned if i ever hold it at the end of a day again.

4/21/2009 9:59:20 AM

Quote :

"Why are you guys bothering with C? They are the weakest of the bunch, hands down. Buying C is nothing more than hoping you get it in some sort of a trough and hope that the government continues with it's "not gonna let em fail" campaign. With noise about the stress test getting louder and louder, it's just too risky of a gamble that the real result gets out and craters C."

if they're around in 5 years, the stock is probably gonna be worth much more than $2-$3 right? I wasn't thinking day trading...was thinking more long term.

4/21/2009 10:08:42 AM

Quote :

"if they're around in 5 years, the stock is probably gonna be worth much more than $2-$3 right? I wasn't thinking day trading...was thinking more long term."

With a handful of better capitalized companies around, if you're looking to get a financial on the cheap for the long term, just stay away from the weakest duckling.

They are all trading at healthy discounts to their 2007 peaks, so if you believe in the recovery then you're still getting them for a good deal if you just have to take a position now. But, I wouldn't advise doing it right after a 6 week rally based on fake 1 time earnings magic. They'll retrace a healthy amount in the next weeks, then pick a better one from GS, to JPM, to MS to even BAC.

4/21/2009 10:19:00 AM

Quote :

"anyone buy any C lately? anyone thinking about it?"

i was going to yesterday thinking it would bottom out and then bounce back, but the price just continued to drop lower than i expected with not much outlook for a turn around. looks like more of the same today. i've been in FAZ since early afternoon yesterday and am lovin it!

[Edited on April 21, 2009 at 10:42 AM. Reason : .]

4/21/2009 10:41:15 AM

DNDN, they have their annoucement about their cancer drug on the 28th
everyone says its good news, and valuations are anywhere from $25 short term to $360 long term

currently $20, dont miss out

4/21/2009 11:20:21 AM

^

also, in FAS @ 7.05

4/21/2009 11:54:18 AM

Good day to own COH.

4/21/2009 12:12:30 PM

I'll be getting back into FAZ at some point today. The rising wedge we penetrated yesterday will act as a resistance line that we're going to bounce off of either late today or sometime tomorrow and head towards 805 or worse.

Really kicking myself for not pulling for the 1000 shares on FAS at 6.15 that I stared at for about 5-10 minutes this morning. Feeling like a hero for getting out of FAZ at 12.70

[Edited on April 21, 2009 at 12:48 PM. Reason : .]

4/21/2009 12:47:18 PM

no kidding, so glad i sold as geithner started talking.

4/21/2009 12:56:28 PM

Just dumped 400 shares of ENG. ~20% return

4/21/2009 1:07:27 PM

You guys think I'm kidding about big bank manipulation in the REIT space? Have a read

http://zerohedge.blogspot.com/2009/04/open-lettter-to-sec-regarding-wall.html

Thats fine, SRS is being artificially held down as the banks are scrambling to get paid back ahead of the impending crash. But they can't stop the crash. I maintain this is still a great time to get in SRS. Kinda wish I would have sold out of it this morning along with my FAZ as well, dunno what I was doing with that one.

4/21/2009 1:47:02 PM

should've gotten some sun on friday before it closed.

4/21/2009 2:17:39 PM

Grabbed 5 May 10 calls on FAZ for 1.90. Have OCO at 1.70 and 2.40, currently trading at 2.10.

Edit.
Went ahead and took profit at 2.10.

[Edited on April 21, 2009 at 3:43 PM. Reason : .]

4/21/2009 3:26:19 PM

Quote :

"DNDN, they have their annoucement about their cancer drug on the 28th everyone says its good news, and valuations are anywhere from $25 short term to $360 long term currently $20, dont miss out "

I thought they had already announced and thats why the stock went from 5 to 20 in a few days

4/21/2009 3:40:08 PM

Quote :

"BB&T has some really good looking calls right now. You can buy the stock at 19.75 and then sell May 20s at 2.25."

Or you could have just sat on it for 24 hours and made 10%.

4/21/2009 3:49:09 PM

That's why I can't wait to get approved for naked option levels. In those instances, I'd just as well sell the stock at the 10% and wait on the calls and buy them back at break even or less if you think there is a pullback coming.

4/21/2009 3:50:54 PM

anybody wanna give a crash course on stocks 101? besides the buy low and sell high part.

[Edited on April 21, 2009 at 4:41 PM. Reason : .]

4/21/2009 4:40:41 PM

Here is a link to get you started

http://tinyurl.com/cddtkc

4/21/2009 5:11:16 PM

Quote :

"That's why I can't wait to get approved for naked option levels. In those instances, I'd just as well sell the stock at the 10% and wait on the calls and buy them back at break even or less if you think there is a pullback coming."

If you're into swing trades, that's fine. When you enter a covered call, then sell your stock, you're essentially shorting the stock at whatever your short call is, so if the stock stays under your short call, then you're good. Just know your sentiment is identical to shorting the underlying stock if you do a CC then sell your stock in an effort to clean up on the stock gain and buying back the CC for cheaper than you sold it.

4/21/2009 5:26:58 PM

I hardly ever do naked calls except in hindsight.

4/21/2009 6:26:44 PM

I've wanted to do a lot of OOM naked put selling on some stocks I wouldn't mind owning. It's kind of annoying, as far as I know, none of the online brokers will do a cash secured put - meaning, yesterday I could sell a May 16 on INTC for 1.30 and they'd lock $130 per contract open until it was closed or exercised. It's immensely more advantageous from an income perspective to be a seller of options than a buyer because of decay and it open up a whole nother world of strategy to be bullish on a stock via selling puts during times of high volatility and short term drops in a stock rather than buying calls.

4/21/2009 8:13:47 PM

Another take on CRE as an explanation about why SRS isn't wanting to move

http://globaleconomicanalysis.blogspot.com/2009/04/commercial-real-time-bomb-goes-off-but.html

I think 25 is a good line in the sand for SRS and if I wasn't in it already, I'd be looking to take positions after big moves with stops set that are stomachable.

4/21/2009 8:33:39 PM

The stories of manipulation just don't stop

http://zerohedge.blogspot.com/2009/04/vornado-to-issue-125-million-shares.html

4/21/2009 9:02:33 PM

gold is holding that 860 support pretty well

4/21/2009 11:05:34 PM

Pulled the trigger just a bit early on the sell off yesterday, getting 400 of FAZ at 9.39 at around 3.55pm. Just sold out of it at 9.86 in premarket.

4/22/2009 8:21:40 AM

anyone else seen this?

Freddie Mac Acting CFO Found Dead In Vienna

http://www.wusa9.com/news/local/story.aspx?storyid=84706&catid=158

4/22/2009 8:30:33 AM

Looks like he took the good senators advice. Good for him.

4/22/2009 8:36:55 AM