Thursday, April 24, 2008

Position update

Just covered ACI at 55.22, POT at 190.22, still holding FCX, and will re-enter if ACI, AGU, POT etc. rebound here. Pretty happy about the over 20 point gain on POT, but then it again, still not close to what Razor does, and if it tanks to 185 today, I will feel like a jerk again.
All the high flying commodity names are rolling over, finally.....

4 comments:

RazoR said...

Wabbit all my calls were posted here in realtime, even losses...20 pts on pot huge!
Boy did someone lose big on aapl, both puts and calls are -3 today what a massive suckout, I had a feeling something weird was going down, too much money on one side, so I didn't play it.
Hoping and praying to re-enter drys at 70 to make a tight ascending triangle that will breakout to the 90+ level...ah da evil street lol...

flyingwabbit said...

Razor: I am going to shadow your move next time, I need to learn from your sharp execution but more importantly, learn how to hold and sit :)
Not many occasions I see both calls/puts losing like AAPL today, interestingly, the same thing is happening for BIDU right now, ppl sure are learning fast :P thought about take a small put against BIDU ER, but the premium is a bit too high to be worthwhile....

RazoR said...

Check out the chart for F, who woulda thunk it?
Yesterday to pull an appl straddle at 160, they were 10 and 10, today the puts are -5 and the call is up pennies oh the pain.
Looks like the market will touch 13k soon, stochastics tell me the market should go down, but me thinks not until after earnings are over, just not enough bad news to go around lol.
My strategy is not to short too much, just buy good value, knowing eventually the market will go up, because there is more long money due to mutual funds.
I bought back in drys at 78 what the hell I had a dying 60 put so what the hell. Also have nvda at 19 but will die before that bitch makes me money...

flyingwabbit said...

Razor:
F is on 6-week rally from 5, and approaching key resistance zone from 9-10. I won't go long here unless it pulls back to 7-7.5.
I have a buy order of drys just above 75, not sure it will come down this far.
I think your long approach makes a lot of sense, and I am aware of my tendency to short-the-top.
Covered FCX at 113.11, will consider re-enter in the coming days.
Thought about going long on AMR yesterday just above 7, but chicken out, and it is up 10% now, oh well....
Oh, let me know when you consider to move your retirement fund back into the market, thanks!