This guy must be drawing a check from the Plunge Protection Team. Everything was going well with my calls(puts) until his bullshit announcement. I didn't want to get bitten again on an AIG announcement so waited until after the Fed announcement to trade.
SRS - Stopped out for $0.50 loss on Sep 90 & 95 Calls.
SKF - I just began the trade off the moving averages before Gasparino came on. I was sitting on a hefty $8.00 loss but was patient let the stock retrace after the fear subsided. Picked up the calls @ 132.00 and sold @ 130.00 for $2.00 loss.
GS - I traded in an out of this but ended up getting stopped out each time for $2.00 loss on Puts.
OIH - I picked off $1.00 on the Sep 150 Calls as it rallied along with the energy sector in the last hour.
UAUA - I picked up some shares @ 13.80 as it broke the opening range high. I'll dump these in the AM if oil shows some strength.
Enery/commodities showed a lot of strength towards the close. With all this government intervention and bailouts, the dollar should weaken a bit feeding into already oversold sectors. If this sector shows strength tomorrow, I'll be using the 20-SMA on the 30-min chart for low-risk entries. I'll be focusing on the usual suspects (OIH, APA, DO, BUCY, HES, NOV, POT, CF, X, CLF and solars) for big moves and position with at-the-money calls.
Also, if the market goes higher, ESRX looks like it wants to break-out of that 76.00 area.
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OE, just sold my Oct C puts for some grt gains. Doubled up on UNG-squeeze to come? XLU, finally paying dividends. Still holding XTO & XOM....may buy some ESRX Calls. Bought GG Oct calls on the close yesterday-go go go...will be buying some AIG Nov 2.50's throughout the day.
shall we claim this as big loss :)
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GS - I traded in an out of this but ended up getting stopped out each time for $2.00 loss on Puts.
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Nice Darwin! I also picked up a few UNG calls late in the day. I wish I had the patience to hold those calls from last week.
Anon, I'm never happy with a loss but need to accept them as part of the "game" as long as my winners are bigger. I wouldn't say the GS losses are "big" as my stops are usually set for $1-2 drops on the underlying stock price, depending on the position size. Trades like today(9/17) more than make up for these losses.
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