Could not be in the Trading Room Friday but does not look like I missed much. Our IOC position has not made its gigantic leap yet...it will. BIIB did not get bought out "per Karl Ichan" and Leh, our put, went up...hummm. Not a great day. Still holding onto Yhoo for that 34$ offer but bought some MSFT calls also. Next week should be exciting. Can barely wait. These long weekends are hard since I live first of all for my Lord and Savior, then my husband, but finally to trade. Gives me opportunity to chill and post Monday what happened last fall. Bet you are excited to hear about that. Right.
Heading off downtown Traveerse City for breakfast. Hope your weekend causes you to move closer into His presense and stronger into your destiny.
Saturday, February 16, 2008
Thursday, February 14, 2008
The Close 2/14/08
So, the market is now closed. One more day of nowhere. Why is that.. I like my positions. What a tough market. Our Lehman short is doing well. Sold the XLB puts. Was as I figured, just short covering in this area. Even with the market down triple digits it did not move down. Time to get out.
IOC traded off 82 cents but had great volume. Just seems like the move is still coming. Hope we are not deceived here. After Kelly's dreams on this stock we have been trading it off and on. Recently we had 550 option contracts expire worthless because of...well, foolishness. Always buy contracts farther out than you think you are going to need them. Always. So we are in again. Sometimes I ask, "Why" you can get the same $25 move on almost any stock. Why this one. The dream. That is why. And to be part of a network of other traders trading the same thing. Does that make sense? I did not think so either.
Bought more Yhoo. The sale is coming. I can feel it. My BIIB trade traded off slightly but Carl Icahn bought in and this should help move it upward. I am thinking this could be a good longer term trade. We will see.
Tomorrow the 13'f are posted. Will be checking who bought what. I liked Karen Finerman's ideas yesterday of who to look at also. Will be looking at Tontine also.
What else are we trading right now? Msft for one. It is undervalued even if it goes through with yhoo sale, which we think they will. We just sold out of Apa. Great move there. Bought the Feb 100 calls and the March 100 calls when it was at 94. Played earnings. Sold at 106. Could have held longer but wanted to use the money to move into aapl. We bought the March 130 calls in aapl when it made a consolidation at the 124. Held the move to 130 then sold. I will move back in again next week some time for the next swing up. It will migrate back to 165 before long.
Ok. Good for now. Won't be posting tomorrow. Attending a funeral. Talk on Monday.
IOC traded off 82 cents but had great volume. Just seems like the move is still coming. Hope we are not deceived here. After Kelly's dreams on this stock we have been trading it off and on. Recently we had 550 option contracts expire worthless because of...well, foolishness. Always buy contracts farther out than you think you are going to need them. Always. So we are in again. Sometimes I ask, "Why" you can get the same $25 move on almost any stock. Why this one. The dream. That is why. And to be part of a network of other traders trading the same thing. Does that make sense? I did not think so either.
Bought more Yhoo. The sale is coming. I can feel it. My BIIB trade traded off slightly but Carl Icahn bought in and this should help move it upward. I am thinking this could be a good longer term trade. We will see.
Tomorrow the 13'f are posted. Will be checking who bought what. I liked Karen Finerman's ideas yesterday of who to look at also. Will be looking at Tontine also.
What else are we trading right now? Msft for one. It is undervalued even if it goes through with yhoo sale, which we think they will. We just sold out of Apa. Great move there. Bought the Feb 100 calls and the March 100 calls when it was at 94. Played earnings. Sold at 106. Could have held longer but wanted to use the money to move into aapl. We bought the March 130 calls in aapl when it made a consolidation at the 124. Held the move to 130 then sold. I will move back in again next week some time for the next swing up. It will migrate back to 165 before long.
Ok. Good for now. Won't be posting tomorrow. Attending a funeral. Talk on Monday.
Keeping Up...
Did you ever start something then let it lay...I have. Too many times. I knew the Lord wanted me to keep up on this blog. But I let it go. No more. Please remember, like we have previously stated, I am no author and not very good with words. (Or even spelling for that matter.)
What are we trading today? After yesterday, we really blew it. Confusion set in and eratic trading began. Bought STP. Knew it was a great move. In fact, was going to buy it the day before when it was down but instead we decided AGU and De were better short term pops. Not. Then I received an email from a options service we subscribe to and they said, "buy puts on stp". Confusion. Sold STP. Dumb
So what did I do from there? Bought the put on the XLB. Loads of volume there but could have been short covering. We will see. I don't feel good about this move now that I have spent the night with it but that is usually when it is right...when it feels wrong. Figure that. (Read that in a trading book somewhere.)
Bought a put on leh yesterday and then Pete N. on Fast Money said the same last night as his final trade. Feel good about that one.
Bought options, calls, on BIIB this morning too. Like the outlook there.
And of course...there is IOC. Have been trading this bi-polar stock for years. A big move is coming. Almost sure of that. Have close to 35 contracts on this one.
When I can get my mind straight I will have to post how last fall went. How we went from 9,000 to 156,000 then lost it all. Interesting story. Will post later in day here too. Until then......
What are we trading today? After yesterday, we really blew it. Confusion set in and eratic trading began. Bought STP. Knew it was a great move. In fact, was going to buy it the day before when it was down but instead we decided AGU and De were better short term pops. Not. Then I received an email from a options service we subscribe to and they said, "buy puts on stp". Confusion. Sold STP. Dumb
So what did I do from there? Bought the put on the XLB. Loads of volume there but could have been short covering. We will see. I don't feel good about this move now that I have spent the night with it but that is usually when it is right...when it feels wrong. Figure that. (Read that in a trading book somewhere.)
Bought a put on leh yesterday and then Pete N. on Fast Money said the same last night as his final trade. Feel good about that one.
Bought options, calls, on BIIB this morning too. Like the outlook there.
And of course...there is IOC. Have been trading this bi-polar stock for years. A big move is coming. Almost sure of that. Have close to 35 contracts on this one.
When I can get my mind straight I will have to post how last fall went. How we went from 9,000 to 156,000 then lost it all. Interesting story. Will post later in day here too. Until then......
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