Something cooking X tonight... 3% surge

Oil under pressure.. below $74 now. UCO is looking very attractive!
I need it below $11 and I'm buying!

Update:
OMG! Look at BIDU after split.. more affordable, $15-$20 pop just 5 days.
This thing going to rocket to $100.

This post has been edited by danmooncake: May 13 2010, 09:50 PM

I am holding X and C..

what happens to C again tonight?

C just following JPM. Not too healthy for now.
General market moving sideways.. it may pull back today.

lose $100 in C, earned $190 in X.

No loss no gain if you've not made the transaction.

X definitely a big gain tonight.. I feel like taking profit but I think it can touch $60, closer to that test that resistance level at 50MA by tomorrow or next week (if the market doesn't tank). Anyway, now the market is just consolidating a bit, setting a base here.


My AAPL May 250 calls premium have just exploded 300%.. I'm writing some in-the-money calls to sell now.
If somebody buys 'em, I'm going score big.

This post has been edited by danmooncake: May 13 2010, 11:26 PM

Never noticed BIDU (Baidu Inc) until u wrote. Thanks. Looks nice at 70$.

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Added on May 13, 2010, 11:42 pmX in profit taking mode after reaching high on steroid today.

This post has been edited by zamans98: May 13 2010, 11:42 PM

Here's why X pops up tonight. GS pumping it.

SAN FRANCISCO (MarketWatch) -- U.S. Steel Corp. /quotes/comstock/13*!x/quotes/nls/x (X 57.37, +2.34, +4.25%) shares rose $2.10 to $57.13 in early trading on Thursday, resisting a broader market dip after Goldman Sachs added the stock to its "conviction buy" list. The shares have more than doubled in the past year as easing economic pressures have helped lift the steel sector. "Global steel production has rebounded, approaching the peak seen in mid-2008," analyst Sal Tharani said. "We expect 2010 worldwide steel production to be higher than in 2008. At the same time, inventories in the US remain at historically low levels." Elsewhere, Titanium Metals Corp. /quotes/comstock/13*!tie/quotes/nls/tie (TIE 17.85, +0.78, +4.57%) added 1.8% while AK Steel Holding Corp. /quotes/comstock/13*!aks/quotes/nls/aks (AKS 16.39, +0.20, +1.23%) and Steel Dynamics Inc. /quotes/comstock/15*!stld/quotes/nls/stld (STLD 16.26, +0.91, +5.93%) jumped almost 4% each

Source:
http://www.marketwatch.com/story/story/pri...FE-1314521930F0

Sure, I like to see the steel industry recovers this year.. come mon, go go go!

Already sold..

Closing update:
Dow 10782.95 -113.96 -1.05%
Nasdaq 2394.36 -30.66 -1.26%
S&P 500 1157.43 -14.24 -1.22%

Look at that.. market decided to roll over towards the end.
Dow can't muster strength to stay above 10800. This market looking bearish again with
much larger than expected volume went into sell mode.

Managed to sell some of my of AAPL MAY 250 calls for 300% gain!
At close, the gains have dropped to 150%. Playing with options is like 10x ETF.

Also, I've sold 1/4 of position in X while I'm still in profit.

Watch out Friday evening...it may not be pretty. Get ready to become a bear again.

This post has been edited by danmooncake: May 14 2010, 05:09 AM

The most important thing is catch the next dip.

C is being locked now by momo or US gomen because they want to fix the price for sale.. Better stay away as there will be selling 50 million C per day..

Now empty basket...

Which one can be played tonight? Last night, STEC, MGM and AIG are actually traps set by momo, raise 2% at the open but drop 2% at the end. Let's be careful of these traps..

Any stocks wants to recommend to me?
Want to earn some tonight..

Tonight, we may open down again but wait till after 12am.. watch for signal for $SPX to touch close to 1150 - it may bounce back up. If drops below, look to buy as close to 1100.

I'll be playing SSO (long) and SDS (short).

Update:
I'm in SDS now (up premarket). Depends on how it goes, I may look to exit a bit out of SDS and go long SSO later tonight.

Euro is in the dumps now (below the 1.24 range).. talks of France getting out of Euro exacerbated the issue.
Gold prices shooting to the moon now .

This post has been edited by danmooncake: May 14 2010, 09:13 PM

wow, 2 days almost eroded all paper profit. now back to the D-Day of May 6th. EURO is dying.

Yup, all gains that was acquired on Monday almost all given back. But, if we close above 10400, still positive but the technical trend looks very bearish, this isn't good for next week. Longs should wait before buying. This isn't the bottom yet.
Meanwhile just ride out the shorts a bit more. I'm going hold SDS until early next week.

shorting MGM..

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Added on May 15, 2010, 12:25 amhow are everyone trades tonight?

or already in the dream?

This post has been edited by epalbee3: May 15 2010, 12:25 AM

Holding SDS.. already gained 4%. I'm going to hold till next week if we don't recover by closing.
I've a feeling Dow will go down to near 10K or SPX 1080 if we don't bounced off 1100 by next week.

Hang tight..

This post has been edited by danmooncake: May 15 2010, 01:52 AM

I'm glad to see Down going near 10k...

what do you think about X? the price seems attractive now.. should be grab some tonight?

Yes, that's attractive - between $51.50 and $52.50. This thing can pop up to $55 easily during bounce back.
Can even reach $70 if you're patient and much longer term.

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Added on May 15, 2010, 1:41 amCome in and join the bear party..

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Added on May 15, 2010, 4:21 am

Closing update:
Dow 10620.16 -162.79 -1.51%
Nasdaq 2346.85 -47.51 -1.98%
S&P 500 1135.68 -21.75 -1.88%

The market came off the -200 points low and recovered somewhat.
I've decided to exit my shorts (SDS) for a 4.2% gain.

Now, long SSO going into the weekend. Early next week, most likely, I think we may get a bounce back up.

AAPL has recovered back to above $250... hopefully, it can get back above $260 by early next week,
then I can sell my other half in-the-money calls for big profit before expiration on Friday.

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Added on May 15, 2010, 4:45 am

That's the goofball who fatfinger the crash last week.. Waldo ? Walde..?

http://wallstreet.blogs.fortune.cnn.com/20...s-waddell-reed/

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Added on May 15, 2010, 5:00 am
Pickup some UCO @ 10.25 to play.

This post has been edited by danmooncake: May 15 2010, 05:00 AM

Market FLAT, means its a possible another RED today?

It could be both.. I think we'll get a small bounce up and if by Tues/Wed no good news from Europe,
possibly another dip. Hang tight.

Oil isn't doing too good, I'm hoping for a bounce up but hasn't happened yet. Going to get another buy for UCO soon.

Update:
Back to SDS again..market is going to roll over again.

This post has been edited by danmooncake: May 17 2010, 11:05 PM