Tuesday, February 12, 2008

Running out of steam?

The headlines and numbers are looking pretty good, but on my list, many are running out of steam on yet another low volume up day. To make it a bit more interesting, I entered a several token positions for SW early this morning, some of which are from the weekly calls, stops are all above their corresponding today's highs
** AAPL-shorted at 129.48, IT=122
** GS-shorted at 184.88, IT around 175
** POT-shorted at 152.8, stopped out at 154.11, reshorted at 151.8; probably a premature trade
** DVN-shorted at 93.88, IT=88; it is stronger than I expected but the stop is just so close!
Missed opportunities: GOOG short around 530, FSLR short just below 200.

21 comments:

flyingwabbit said...

Just shorted MON at 115.8, why I am having a feeling that the agriculture/fertilizer names are the next ones to get kicked around?

Yuriy said...

Hey guys, shorted POT@153.
What do you think about rimm?

razor said...

sold 119aapl@129 monday
covered 130aapl@125.5
sold 16.5altr@18.1
dumped 200etfc just lost commission
what a rediculous rally, smoke n mirrors... nice plays wabbit!

flyingwabbit said...

razor:
having appl long AND short! man, I hope I can do that like you! As for the rally, it may not be over yet, I really hope there is more to it, but the vol just too light...
Yuriy:
you sure smoked a better POT than mine! As for RIMM, I suppose you could go long here with a stop just below 89, but I personally won't do anything unless it approaches either 80/82 or 97/100.
Had a perfect weekly call on WYNN, and could've shorted it around 125 today, it is below 115 now in AH. Didn't even use a token position, crap!

razor said...

when aapl gapped up +3 yesterday morning I sold it...it didn't fill, and today gapped again so I shorted, and it was weak all day, sure enough filled both gaps.... with lowered production and new competition in the smartphone market I can't imagine what saves this stock, after blowing off some stochastics it could be set up for new lows in the 110 area, but this is options week so who knows...fslr reports tomorrow, nile down 10 ah anybody want it? lol...

Anonymous said...

Any ideas for DRYS?
Thx in advance.

Anonymous said...

Wabbit and Razor - great stuff. my 2 cents worth: RIMM's got resistance at 94/96, short at 94.51 on Mon. Short POT at 148.50 tues. Straddle on FSLR at 175, gonna need a big move with earnings Wed before opening. Sold out CY options at about even, got in too early, worried about FSLR talking down all solars.

-Nosmo

qiqiapr said...

FSLR was a nice short. I also shorted pot @152. Sold my GooG long this morning.

I have kept shorting MA after ER. I think it can not stay above 200.

flyingwabbit said...

razor:
it is all your fault that I only used a token position to short AAPL, the chart was a screaming short, but then I remembered you said something about Apple's 3G new product, and I figured oh well, better be 1G (Girlyman) to stay on the safe side! and now you are talking about all the competition and it is heading to 110? man, you are killing me :P

flyingwabbit said...

anon-8:45 pm
I have been eying on drys ever since it cracked R at 70, but will wait till it reports ER on V day AH, I hope it will be a good one so I might be able to short it either between 88-94, or just below 100. We will see.

flyingwabbit said...

Nosmo:
Nice short on RIMM, I was waiting it to get a bit closer to 97, oh well. You are the third one confessed here today on smoking the POT, I hope we won't get smoked in the end here.

flyingwabbit said...

qiquapr:
Nice exit on GOOG, why not reversed to the short side? You are the fifth one here smoking the POT, that is not a good sign! Good move on MA, but this cat has a lot lives left for sure.

flyingwabbit said...

gangs:
CMG is having a textbook breaking down here, and has all the looks of a bad ER (Feb. 14 AH) which could drop it further down to 90/95, really attempted but it could really ruin the V-day, oh well...

Anonymous said...

FSLR! Had a good clue in the AMAT CC that solars would be strong. Still am surprised at the size of the move in this market. Looks like I'll miss the CY upside though. Tight stop losses on POT and RIMM.

-Nosmo

flyingwabbit said...

Just shorted FSLR at 209.8, stop just above today's high, DT, IT=200, looks like a sell on news play here

flyingwabbit said...

boy, what a quickie that was, got stopped out, now watching the 220/230 R levels.

Anonymous said...

sorry wabbit, new information...7 pts on nile :)

RazoR

flyingwabbit said...

Razor:
With that nice 7 pt profit, I guess you are set for the V-day gift, how about getting something from BlueNile :)
Market is rallying again, vol still light, we will see how far bulls can push.

Anonymous said...

well the market has a double gap up from 12250 plus good news so its tough...my prediction was true, all the puts got destroyed...fslr makes me want to puke...

RazoR

Yuriy said...

Man what a rally ! Time to short rimm?

razor said...

market goes up 200 more points, back in aapl 129...