Stock Market Day-Trading Discussion Thread

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[quote author="BlackVault CM2" date=1240467078][quote author="morekaos" date=1240273584]My traders took profits. Investors still hold.</blockquote>


Amen to them. As they should. I'm done being an angel myself, going back to the dark side.</blockquote>


Actually, it is the investors that look right today.
 
[quote author="morekaos" date=1240618658][quote author="BlackVault CM2" date=1240467078][quote author="morekaos" date=1240273584]My traders took profits. Investors still hold.</blockquote>


Amen to them. As they should. I'm done being an angel myself, going back to the dark side.</blockquote>


Actually, it is the investors that look right today.</blockquote>


How can anyone argue with banking 38% in 4 weeks. Even if the next four weeks turn in another 10%, 20%, 30%, any %, ya gotta love taking profits.







10 year hit 3% today and is at 2.97% right now.
 
I-N-F-L-A-T-I-O-N





<a href="http://www.bloomberg.com/apps/news?pid=20602007&sid=ak_Sk1gHnIWI&refer=govt_bonds#">Treasuries Decline Amid Pessimism About Mounting Supply of Debt </a>
 
[quote author="awgee" date=1240619786][quote author="morekaos" date=1240618658][quote author="BlackVault CM2" date=1240467078][quote author="morekaos" date=1240273584]My traders took profits. Investors still hold.</blockquote>


Amen to them. As they should. I'm done being an angel myself, going back to the dark side.</blockquote>


Actually, it is the investors that look right today.</blockquote>


How can anyone argue with banking 38% in 4 weeks. Even if the next four weeks turn in another 10%, 20%, 30%, any %, ya gotta love taking profits.







10 year hit 3% today and is at 2.97% right now.</blockquote>
I threw some money in the TBT etf stock so I'm a happy camper.
 
My moves:



Position for the past two week and probably the rest of May: Sideways, sell at the money calls.



Breakdown: S&P goes below 820. (buy puts or sell in the money calls)

Breakout: S&P goes above 875. (buy calls or sell out of the money calls)



easy money...peace...and GO LAKERS!



There I posted...had long enough break...see you next month.
 
Wow the markets are on fire today and the short term trend is obviously up since so many shorts needs to cover.



With bank losses waiting to surface and blow up the markets again, when do you predict that it will happen? Is it going to be a 3 month or more like 6 months down the road?
 
[quote author="awgee" date=1240619786][quote author="morekaos" date=1240618658][quote author="BlackVault CM2" date=1240467078][quote author="morekaos" date=1240273584]My traders took profits. Investors still hold.</blockquote>


Amen to them. As they should. I'm done being an angel myself, going back to the dark side.</blockquote>


Actually, it is the investors that look right today.</blockquote>


How can anyone argue with banking 38% in 4 weeks. Even if the next four weeks turn in another 10%, 20%, 30%, any %, ya gotta love taking profits.







10 year hit 3% today and is at 2.97% right now.</blockquote>


I couldn't resist this since I personally still hold this portfolio



If you had purchased this portfolio on the date suggested and held it to this morning, these would be the results







GE 530 $12.70 $6731



Alcoa 800 $9.28 $7424



Intl. Paper 720 $12.72 $9158



Dow Chem. 650 $16.01 $10406



$33719.00 or a gain of $13200/20519 = 64.3% in 41 days not counting dividends
 
I just had a novice trader I talk with come in and tell me the rally is back on and that I should start buying. It is the most bearish sign I have seen to date. I would not be surprised in April 30, 2009, marks a market top for this move.
 
I do not disagree that a correction is likely as the rally suckers in the short covering and novices. However, if there is one thing I have learned over time it is "never fight the tape"
 
I have to agree with IR on this one. After the stress test result out next week, we probably will have a 10-15% pull back in May before the PPT try to rally the market up again. Still believe we will see S&P hit 550-600 by Q4.
 
I get the feeling the Fed is hashing over that stress test result and is going to try and soft-shoe the results. I do think they will do everything possible to obfuscate and hide the problem. The numbers (although BS) may not be as bad as everyone expects
 
[quote author="morekaos" date=1241129671][quote author="awgee" date=1240619786][quote author="morekaos" date=1240618658][quote author="BlackVault CM2" date=1240467078][quote author="morekaos" date=1240273584]My traders took profits. Investors still hold.</blockquote>


Amen to them. As they should. I'm done being an angel myself, going back to the dark side.</blockquote>


Actually, it is the investors that look right today.</blockquote>


How can anyone argue with banking 38% in 4 weeks. Even if the next four weeks turn in another 10%, 20%, 30%, any %, ya gotta love taking profits.







10 year hit 3% today and is at 2.97% right now.</blockquote>


I couldn't resist this since I personally still hold this portfolio



If you had purchased this portfolio on the date suggested and held it to this morning, these would be the results







GE 530 $12.70 $6731



Alcoa 800 $9.28 $7424



Intl. Paper 720 $12.72 $9158



Dow Chem. 650 $16.01 $10406



$33719.00 or a gain of $13200/20519 = 64.3% in 41 days not counting dividends</blockquote>


Imagine if you had added BAC (or any other financial, for that matter) to this portfolio. Absolutely sick
 
[quote author="BLUE FIRE" date=1241141452][quote author="morekaos" date=1241129671][quote author="awgee" date=1240619786][quote author="morekaos" date=1240618658][quote author="BlackVault CM2" date=1240467078][quote author="morekaos" date=1240273584]My traders took profits. Investors still hold.</blockquote>


Amen to them. As they should. I'm done being an angel myself, going back to the dark side.</blockquote>


Actually, it is the investors that look right today.</blockquote>


How can anyone argue with banking 38% in 4 weeks. Even if the next four weeks turn in another 10%, 20%, 30%, any %, ya gotta love taking profits.







10 year hit 3% today and is at 2.97% right now.</blockquote>


I couldn't resist this since I personally still hold this portfolio



If you had purchased this portfolio on the date suggested and held it to this morning, these would be the results







GE 530 $12.70 $6731



Alcoa 800 $9.28 $7424



Intl. Paper 720 $12.72 $9158



Dow Chem. 650 $16.01 $10406



$33719.00 or a gain of $13200/20519 = 64.3% in 41 days not counting dividends</blockquote>


Imagine if you had added BAC (or any other financial, for that matter) to this portfolio. Absolutely sick</blockquote>


Not even I had the stomach for that
 
[quote author="IrvineRenter" date=1241136270]I just had a novice trader I talk with come in and tell me the rally is back on and that I should start buying. It is the most bearish sign I have seen to date. I would not be surprised in April 30, 2009, marks a market top for this move.</blockquote>


So far your timing is perfect :) I'm just in the "don't buy" zone. There just isn't any reason to buy but you never want to fight momentum. When it goes down, it will be pretty apparent and plenty of time to jump in.



I've been scaling out in the past month and I've never been happier.
 
i sold so many naked calls on MET and they missed earnings big time. All I need to avoid is the government interfering with the market.



Did you guys see the move on LVS? I wanted to sell some naked calls on that but it just moved too damn fast.
 
[quote author="Knife Catcher" date=1241151625]i sold so many naked calls on MET and they missed earnings big time. All I need to avoid is the government interfering with the market.



Did you guys see the move on LVS? I wanted to sell some naked calls on that but it just moved too damn fast.</blockquote>
I picked up some June $25 SSO puts this morning. WYNN has been on a HUGE run recently and I know for a fact nothing is improving on the gaming side in Vegas. Might be time to pick up some Sept/Oct puts on them.
 
[quote author="morekaos" date=1241129671][quote author="awgee" date=1240619786][quote author="morekaos" date=1240618658][quote author="BlackVault CM2" date=1240467078][quote author="morekaos" date=1240273584]My traders took profits. Investors still hold.</blockquote>


Amen to them. As they should. I'm done being an angel myself, going back to the dark side.</blockquote>


Actually, it is the investors that look right today.</blockquote>


How can anyone argue with banking 38% in 4 weeks. Even if the next four weeks turn in another 10%, 20%, 30%, any %, ya gotta love taking profits.







10 year hit 3% today and is at 2.97% right now.</blockquote>


I couldn't resist this since I personally still hold this portfolio



If you had purchased this portfolio on the date suggested and held it to this morning, these would be the results







GE 530 $12.70 $6731



Alcoa 800 $9.28 $7424



Intl. Paper 720 $12.72 $9158



Dow Chem. 650 $16.01 $10406



$33719.00 or a gain of $13200/20519 = 64.3% in 41 days not counting dividends</blockquote>




Writing calls on all this stuff
 
[quote author="morekaos" date=1241218215][quote author="morekaos" date=1241129671][quote author="awgee" date=1240619786][quote author="morekaos" date=1240618658][quote author="BlackVault CM2" date=1240467078][quote author="morekaos" date=1240273584]My traders took profits. Investors still hold.</blockquote>


Amen to them. As they should. I'm done being an angel myself, going back to the dark side.</blockquote>


Actually, it is the investors that look right today.</blockquote>


How can anyone argue with banking 38% in 4 weeks. Even if the next four weeks turn in another 10%, 20%, 30%, any %, ya gotta love taking profits.







10 year hit 3% today and is at 2.97% right now.</blockquote>


I couldn't resist this since I personally still hold this portfolio



If you had purchased this portfolio on the date suggested and held it to this morning, these would be the results







GE 530 $12.70 $6731



Alcoa 800 $9.28 $7424



Intl. Paper 720 $12.72 $9158



Dow Chem. 650 $16.01 $10406



$33719.00 or a gain of $13200/20519 = 64.3% in 41 days not counting dividends</blockquote>




Writing calls on all this stuff</blockquote>


How can you lose writing calls on way in the money?
 
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