So far, he got 4 YES, 3 NO.

more coming..

One senator pending says he vote will NO against him.

On Live tv - I can see people are calling in their Senators office either vouch for him or against him.
American system - very open.

If C can close above 3.20 today, that's a good sign.

C so far has 2.1 billion in volume today..
BAC is dropping.. JPM dropping.. all financials dropping today.

FAS is looking attractive again.

Update for Bernanke Vote:
8 YES
10 NO
2 UNDECIDED


This post has been edited by danmooncake: Dec 18 2009, 12:05 AM

Watched it on CSPAN live.

Final vote for Bernanke:

16 YES
7 NO

He's confirmed by the Senate.

Closing
Dow 10308.26 -132.86 -1.27%
Nasdaq 2108.05 -26.86 -1.22%
S&P 500 1096.07 -13.11 -1.18%

Well, the shorts didn't get squeezed today but rather the bulls got scared off.
C closed at exactly 3.2, I think it this is a good sign.

Bought some more C 3.15, ERX 37.80, XPP 69 and TCK 36.10 on pullback today.

This post has been edited by danmooncake: Dec 18 2009, 06:12 AM

Guess what's going to happen on Quad Witching Day?

Perhaps so.. scalping C maybe the way to go now since we got huge dilution.

Anyway, I'm watching Oil surging again. Hopefully, it is pay day for my ERX!

Well, as expected with Option Expiration day, buyers buy in am, sellers sell losers to drive down stocks afterwards.
We should expect heavy volume today.. bulls and bears may fight it out. I hope it is going to be a volatile day.

Managed to sell my 500 ERX @ 39.20 during the pop. Small profit for now.

I'll let the rest of the long to ride out till next week and see how it goes.

Update: 12:50am
Re-purchase 250 ERX 38.00 (1/4 position).

Update: 1:00am
Moving above 50 MA. Bought another 250 ERX 38:15
Avg 500 ERX: 38.07 (1/2 position)

Update: 2:22am
Sold 500 ERX: 38.55 (all gone) ka-ching!

Update: 4:26am
30 mins to go, volume dying down. ERX down to 38.08, I may scoop back some here or close to end of day.

Closing update
Dow 10328.89 +20.63 +0.20%
Nasdaq 2211.69 +31.64 +1.45%
S&P 500 1102.39 +6.76 +0.58%

Another month pass, another OPeX day ended without much fanfare but good enough for me.
The volume was good - we got lots of buyers in the morning and sellers by later day. Most US sellers want the
bad stocks out of their portfolio and sell it for the tax write off. At close, the bulls managed to push forward and gained back some points. Tech stocks did very well.

At the last dip for ERX, I took another opportunity to scoop up another batch of ERX @ 37.90.
I'm keeping it till next week and see what happens. Oil looks bottom now. Hopefully, we rise to 75 next week.

For this week, I'm happy with my swing trades (~1.1K profits) - except for C, it is a bit of an eye sore now.
I didn't pay too much attention at C during trading session. Just bought some 3.15 yesterday and let it be.
At closed, C has a nice bounce back from the yesterday demise. A 4.7% rise is very good for C.

For next two weeks, maybe we're going to be moderate volume only because of Christmas and New Year.

Have a good weekend!

This post has been edited by danmooncake: Dec 19 2009, 10:52 AM

Ho Ho ho...

Stocks going higher today. Dollar index down. Commodities up, Oil up.

This post has been edited by danmooncake: Dec 21 2009, 10:02 PM

Weak rally huh?
Look again at the major indexes.

But, not sure about MGM. I think its technicals are broken.

This post has been edited by danmooncake: Dec 21 2009, 11:15 PM

Sold 500 ERX @ 40. Another $1K for this one.

Aluminum is like last of the bad breed for metals. If they raise target for aluminum maker like Alcoa, you know what this means for others like steel or copper. Right?

Set your eyes on X, NUE, FCX and TCK.

I just love my TCK!

Closing update

Dow 10414.14 +85.25 +0.83%
Nasdaq 2237.66 +25.97 +1.17%
S&P 500 1114.05 +11.58 +1.05%

Yes.. good day to take some profits off the table.


This post has been edited by danmooncake: Dec 22 2009, 05:49 AM

The gambling stocks do not look too good this in an up day like this.

C has recovered some from the lows but now.. its under pressure from the people selling into the rally.
C will have a bit of tough time trying go above 3.5 in the interim.

Closing update

Dow 10464.93 +50.79 +0.49%
Nasdaq 2252.67 +15.01 +0.67%
S&P 500 1118.02 +3.97 +0.36

I did no trade today other than to let my longs ride higher and not ready to go short yet.
I think we got one more short leg up before Christmas break.




This post has been edited by danmooncake: Dec 23 2009, 05:16 AM

1) TD Ameritrade took 2 weeks to approve mine and I was able to fund it afterwards. It may take 3 weeks or longer during the holidays season (Christmas to New Year).

2) Ameritrade can't do ACH transfer with non-US bank. Just request a cheque or TT transfer.

Best way is send in your documentation via Pos Laju and a bank draft for the amount you wanted to fund.
Whole thing should take approx. 14 days.

Good luck!

No, that is to prevent fraud. Make sure your account is yours and not others.

Looks like MGM may get a bounce from yesterday demise.
Since it is below $9.50, its price look attractive.

I may scoop up some here.

We're going down now.. new home sales number went sour.
Rising foreclosures win!

---

Added on December 23, 2009, 11:09 pmLow $9 is attractive but keep a tight stop. If breaks below $9, there will be a gap down.

This post has been edited by danmooncake: Dec 23 2009, 11:09 PM

Just scooped up some (1/4 position) @ 9.05.
We're oversold yesterday. The technical bounce is normal.

---

Added on December 24, 2009, 12:03 amI think you may have played into their weak hands theory.
MM took out those stops and grabbed your shares.

Update:
Bought some FUQI @ 17.20 during opening. This Chinese gold jewelry maker were oversold yesterday.
I hope the technical bounce may continue for a few more sessions to trigger short queeze.

Update: 1:20am
The Energy sector got a bullish call today. ERX got another 2% uplift.
The Dow looks like it is coming off the red zone soon.



This post has been edited by danmooncake: Dec 24 2009, 01:20 AM

Yeah..but CHTT already old news by Monday am since the bought out by Sanofi-Aventis. The huge gap up was awesome for those managed to scalp it - perhaps too good since they caught two Frenchmen with insider trading.



Update 3:00am
Scooped up another 500 shares of MGM @ 9.40 here. Looks like MGM bounce got real strength and support.

Closing update
Dow 10466.44 +1.51 +0.01%
Nasdaq 2269.64 +16.97 +0.75%
S&P 500 1120.59 +2.57 +0.23%

We got another positive finish today. MGM bounced back good and cleared above the 9.5 line.
Looks like a bullish harami. Congrats to long MGM holders!

This post has been edited by danmooncake: Dec 24 2009, 05:57 AM

Hopefully there will be short squeeze and if so, we'll see another notch up.
If it crosses over 10, I'm dumping mine for quick profit.

Sold 800 FUQI @ 19.20. approx. 1.6K profit

Also, I've unloaded 3/4 of my MGM position @ 9.75 for small profit.
Only left with 1/4 position avg at 9.15.
For MGM play, I like its price below 9.5 and I may scoop up more for channel play.

We got major indexes pushed across the resistance level to new highs here, hence I'm taking some advantage to sell into this small rally.

Some cash out for long weekend holiday is good.

Good luck to all!

This post has been edited by danmooncake: Dec 24 2009, 11:42 PM