Weekend Updates

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    Posted: 17 August 2012 06:02 PM

    Champagne!!! smile

    [ Edited: 19 August 2012 08:15 PM by lovemyipad ]      
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    Posted: 17 August 2012 06:06 PM #1

    Romulan Ale…the good blue stuff.

    Somebody really wanted to own this stock today. The cynical side of me, (my best side) thinks we are going to get some news early next week that will confirm some of the better rumors out there…...Today’s action on a sleepy August Friday is just a bit hard to fathom without an underlying basis…and price targets don’t count.

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    Posted: 17 August 2012 06:08 PM #2

    Great day. But what happens going forward?

    I know Andy Zaky went short on both SPY and QQQ on Thursday, and Redler has been doing a lot of selling as the price went higher today. Just wondering what Monday may bring.

    You should always sell into strength, but the melt-up today disproved that theory, at least for today. A lot of folks were afraid of being left at the station - myself included, so I did a Joe Terranova and bought high and sold higher - and this fed into the surge. With two days before the next trading day, who knows what?s going to happen over the week-end to affect the markets on Monday, but we shall see.

    Congrats and good luck to the longs.

         
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    Posted: 17 August 2012 06:09 PM #3

    My personal take….

    ... the WS~BORG, have been informed of a pending stock split.

    Of course, they would NEVER EVER act on insider ruminations….would they?

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    Posted: 17 August 2012 06:16 PM #4

    lovemyipad - 17 August 2012 09:02 PM

    Champagne!!! smile

    Yes, even though you breached our “don’t start the Weekend Updates thread at least until the after hours is over” pact, happy All Time High day, everybody.

    And no, one does not sell into this.

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    Posted: 17 August 2012 06:17 PM #5

    TanToday - 17 August 2012 09:09 PM

    My personal take….

    ... the WS~BORG, have been informed of a pending stock split.

    Of course, they would NEVER EVER act on insider ruminations….would they?

    A split sounds great, and I’m sure it will lead to higher prices long-term, but as a trader it’s not something I’m looking forward to. I like these10 to 15 point swings on a given day, but these become 2 to 3 point swings after a 5 for 1 split. Can’t make a lot of money trading with that, so you may as well trade IBM later.

         
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    Posted: 17 August 2012 06:18 PM #6

    rutgersguy92 - 17 August 2012 08:59 PM

    Great day. But what happens going forward?

    I know Andy Zaky went short on both SPY and QQQ on Thursday, and Redler has been doing a lot of selling as the price went higher today. Just wondering what Monday may bring.

    You should always sell into strength, but the melt-up today disproved that theory, at least for today. A lot of folks were afraid of being left at the station - myself included, so I did a Joe Terranova and bought high and sold higher - and this fed into the surge. With two days before the next trading day, who knows what’s going to happen over the week-end, but we shall see.

    No absolutes.  Many people do fabulously well riding momentum, riding out downwaves, etc.  Me, when dealing with options, I’m just too terrified of sudden, vicious drops that decimate positions overnight.  Been there, done that, still not a bag lady and prefer to stay that way. smile

    I think it’s about managing upside and downside risk simultaneously, and we have a tremendous amount of both here. Completely cashing out subjects us to upside risk.  Going all in subjects us to downside risk.  There’s sweet spot in between that varies for each of us.

    Me, I moved everything out to APR’13 at the earliest.  I’ll be crying over my long-gone-now OCT’12 650s for an eternity, I’m sure.  But I have enough invested to enjoy upside, and enough cash to know I can always turn future lemons into lemonade.

         
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    Posted: 17 August 2012 06:20 PM #7

    rutgersguy92 - 17 August 2012 09:17 PM
    TanToday - 17 August 2012 09:09 PM

    My personal take….

    ... the WS~BORG, have been informed of a pending stock split.

    Of course, they would NEVER EVER act on insider ruminations….would they?

    A split sounds great, and I’m sure it will lead to higher prices long-term, but as a trader it’s not something I’m looking forward to. I like these10 to 15 point swings on a given day, but these become 2 to 3 point swings after a 5 for 1 split. Can’t make a lot of money trading with that, so you may as well trade IBM later.

    Just trade more shares…. 8-)

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    Posted: 17 August 2012 06:26 PM #8

    JDSoCal - 17 August 2012 09:16 PM

    Yes, even though you breached our “don’t start the Weekend Updates thread at least until the after hours is over” pact, happy All Time High day, everybody.
    (...)

    I waited until 5 PM!!!  That was the very best I could do!!! raspberry

         
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    Posted: 17 August 2012 06:44 PM #9

    johnG - 17 August 2012 07:15 PM
    Mercel - 17 August 2012 07:08 PM

    I like it very, very much.  Sold my October 600s.  Holding onto everything else.  If we dip, I buy; If we don’t, I won’t.

    Would be curious to get your rational for selling the Oct’s. I’m thinking of selling my Oct 650’s.

      cheers
        JohnG

    John, can you do spreads in your account?  It would ease my pain (sob! sniff!) to vicariously experience the joys of your OCT’12 650s should you consider selling a higher strike as a nice compromise between upside and downside risk. smile

         
  • Posted: 17 August 2012 06:44 PM #10

    Grey Goose on me all weekend!!!!!!!!!!

         
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    Posted: 17 August 2012 06:46 PM #11

    So a couple things. First, mint juleps.

    Second, my read is “buy the rumor” in anticipation of “sell the news”. There are no credible rumors and yet all kinds of not-so-crazy rumors lately: iTV, iPad Air/Nano/whathaveyou, iPhone 5, 13"MBPr, new iMac. So buy buy buy in now for whichever-all rumor finally turns true and then sell sell sell.

    Lastly, was discussing AAPL over coffee with a complete tech layman, who said “Have you heard about the new Apple iPhone dock connector? If they release that the stock will tank, unless Apple also releases adapters.” the person is smart but did not convince me. Define “tank”: 10%? 20%? Over a *cable*? Just not seeing it. So just another tiny data point to chew on.

    A fun article to skim about the rumored cable, with pictures: http://itsmorereal.tumblr.com/post/29480903669/the-foolproof-dock-connector

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  • Posted: 17 August 2012 06:48 PM #12

    Wow what a week. However Minyanville just posted an article speculating a $1T market cap. Kiss of death again?

    Dos cerveza por favor.

         
  • Posted: 17 August 2012 06:55 PM #13

    rutgersguy92 - 17 August 2012 09:08 PM

    Great day. But what happens going forward?

    I know Andy Zaky went short on both SPY and QQQ on Thursday, and Redler has been doing a lot of selling as the price went higher today. Just wondering what Monday may bring.

    You should always sell into strength, but the melt-up today disproved that theory, at least for today. A lot of folks were afraid of being left at the station - myself included, so I did a Joe Terranova and bought high and sold higher - and this fed into the surge. With two days before the next trading day, who knows what?s going to happen over the week-end to affect the markets on Monday, but we shall see.

    Congrats and good luck to the longs.

    I have done very well by buying weakness and selling on much higher weakness.

    I do not need to get all the move - I am happy if I get most of it.

         
  • Posted: 17 August 2012 06:58 PM #14

    I am also going to pick up a bottle of special wine on the way home.

    Mad-Dog or Thunderbird

    choices, choices smile

         
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    Posted: 17 August 2012 07:03 PM #15

    lovemyipad - 17 August 2012 09:18 PM

    No absolutes.  Many people do fabulously well riding momentum, riding out downwaves, etc.  Me, when dealing with options, I’m just too terrified of sudden, vicious drops that decimate positions overnight.  Been there, done that, still not a bag lady and prefer to stay that way. smile

    I think it’s about managing upside and downside risk simultaneously, and we have a tremendous amount of both here. Completely cashing out subjects us to upside risk.  Going all in subjects us to downside risk.  There’s sweet spot in between that varies for each of us.

    Me, I moved everything out to APR’13 at the earliest.  I’ll be crying over my long-gone-now OCT’12 650s for an eternity, I’m sure.  But I have enough invested to enjoy upside, and enough cash to know I can always turn future lemons into lemonade.

    Very well stated! ~~~~~~~~~~~~~~~  8-)

    But now I might be the last holder of those Oct 650’s. I better look in that bag soon and see if there’s something actually there!  LOL

      cheers to the longs
          JohnG