Well, tech bulls answered my last night's question, at least for today as it powered the entire market up. Looks like everyone is betting on a good job report tomorrow, I hope it will be, and if that triggers a big gap up, I might consider fade the gap on some stocks (AKS, CF, FSLR, GS, MOS) for quick DT using recent highs as stop. If the break-out remains intact into the close, the better SW short setups will come next Tues/Weds. Will also keep an eye on AAPL, and may go long if tomorrow's job report comes in worse than expected and it gaps down in the open.
Today was a very weird day in which both oil and market went up big, and both gold and dollar went down. Tomorrow could be even more hogwild, I think some bears and bulls are losing their mind in the heat of the battle.
Stay cool!
Thursday, June 05, 2008
Tech bulls rule! More to come?
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9 comments:
POT:
Closed out my puts trade on POT when it was down to pick up 50 cents when POT was $217+. Lucky ? POT now 222.
PCLN:
Closed out for $2.06 profit when PCLN was about $134 PCLN now $133.22. Unlucky on 25 contracts
GES:
Still a short.
Around $44.10 only down 90 cents when gas prices are going up and unemployment up to 5.5%. I think GES is going to $43 or 42 because reality is that it is still $7 above a few days ago and bad news is out. Crude $133.8 can't help retail.
Short GES if you have not already ?
PCA GUY
DRYS:
Buying July calls. DRYS at $91.1
PCA GUY
GS:
Trading at $171.9
Bot July $170 calls at $10.75
Comments ?
PCA GUY
pcaguy:
I am eying GS July 175 calls, but with C now solidly breaking down, I will be a bit patient here. The ideal entry would be as close to 170 as possible with IDS just below the previous low around 168.
I am also considering initial put position in the steel stocks (AKS, X, NUE), but the best setup might be early next week, we will see.
Is everybody having a great day?! yawn whats the problem? High unemployment and oil, hmmm didn't bother you yesterday Mr Market!
Well I dumped fslr after the open for 19 points (only 50 shares)...hard to take a position in drys knowing there's a gap at 87...still holding all positions not too much damage yet, my bet is we get to -350 today but a reversal would be fine with me, and my drinking buddies :)
I would also like to thank the dude at Morgan Stanley for making the 150 call on oil, really just made my weekend....
razor:
damn it! another 19 points! meanwhile, my old habit got me out of my SOHU put position, and early again, hmm, I am giving up on the hope of self-reform, I probably really need some serious ass kicking!
I am waiting for 350 drop in DOW before 3 pm, at which point I my DT a few from the long side: AAPL, GS...
USO:
Bot July 110 puts -IYSSF at $6.61 average. All time high USO
GS:
Bot July $170 calls -GPYGN at $10.47
DRYS:
Bot July $90 calls -DQRGR at $8.92
GES:
Sold some puts waiting for $42.50
PCA GUY
GS:
Bot more July $170 calls at the close - GYPGN at an average price now of $10.23 GS close $169.44
DRYS:
Bot more July $90 calls at the close -DQRGR at an average price now of $8.47. DRYS close $89.93
USO:
Holding -IYSSF at $6.61.
USO closing price $112.06
GES:
Sold 65% of my PUTS around $43.
Holding 100 contracts -GESSJ at a cost of $6.26. GES closing price $42.92
PCA GUY
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