I think so..C broke above the 4.77 resistance level. It is going to trade between 4.8 and 5 now. $5 will be major resistance here. I'm getting ready to unload some when it reaches $5 or higher.

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Added on April 15, 2010, 12:50 amNo thank you. I won't touch Solar stocks until Oil breaks $90 or higher.

This post has been edited by danmooncake: Apr 15 2010, 12:56 AM

Decided to sell some TGB @ 6.11 today for 20% gain.
Been riding it since $5.

Closing Update:
Dow 11123.11 +103.69 +0.94%
Nasdaq 2504.86 +38.87 +1.58%
S&P 500 1210.65 +13.35 +1.12%

This is incredible. The bulls made another step forward with a 3 digits closed. Another new high!

C made the new highs for close at 4.94 (massive 6.9% gain).

Update:
YUM beats earnings estimates (59c versus 53c). Up 3% after hours!
As I suspected, that growth in CHINA!
Source:
http://online.wsj.com/article/SB1000142405...oo&mod=yahoo_hs

After a recent slowdown, Yum said same-store sales increased 4% in mainland China, exceeding analyst expectations, while profits rose more than a third. Results benefited from strong sales at the Chinese New Year and expanded breakfast sales.
...
"This is about China right now and no one saw plus-four coming," analyst Jeffrey Farmer of Jefferies & Co. said. "That's the big piece that's making this stock go higher.

If China reports a very positive GDP numbers later, the market can go to the moon the next session.

Update: 7:25am
Checked back in after hours, I resubmitted my sell Q for C @ $5. It got hit.
Unloaded 10% (750 shrs) off for now. I'll unload more tonight if this bull continues.

This post has been edited by danmooncake: Apr 15 2010, 07:27 AM

Good morning guys!

Just checking in one last time to scan for news from Asia. Looks like China growth is awesome!
11.9% and growing and inflation at 2.2.

Be careful going all in at this level. We're at the 52 weeks high again. Everytime we're here,
you know, we always pull back some.

I'm hoping for C to nudge up a big higher before earnings. I'm ready to collect my pay.

See you guys tonight!

Good evening all,

Finally! C is touching $5. I'm resume dumping some here. Got to slim down back to full position only.


Zamans: Remember I mentioned that ProShares is doing a REVERSE split on some of its ETF
a few days ago?

Don't be mistaken that it suddenly has increased in value. Just that if you have owned it,
your number of shares has decreased. Check it out.

Just buy 10 units then... same total value. But, since this is a bull stock, if the bull trend continues, the increased volatility with higher price actually good for it.

Unloaded another 10% of C at 5.06.

Looks like tons of APR $5 calls got exercised today. Damn, what a bargain for them who got it
for 1c just two weeks ago.

I think I'm going to let C ride out a bit more. The funds are starting to look a this at $5 and buy some.
C may go to 5.5 as next target.

Tim Geither probably wants to see C to go to highest possible price before dumping it.
US govt also wants to profit.

Let see if the funds will buy some at this level. The bidding is high now.
I'm going to get some trailing stop set in place.

We'll most likely to pull back below $5 before heading much higher.

True. Faster than I can change my stops... oh well. Another batch sale at $5 got hit.
C now is back 4.95. I'm back to my full position now at 4K.

Nevertheless, I'm happy with my profits.

Closing update:
Dow 11144.57 +21.46 +0.19%
Nasdaq 2515.69 +10.83 +0.43%
S&P 500 1211.68 +1.03 +0.09%

C closed at 4.81. It has been a volatile day for C. Much like 3x ETF.

Well, C retraced back to 4.74 close to closing time and I've picked back up some at 4.75
for scalping with house money.

It is going to bounce between 4.75 and 5 for now, until it breaks out or break down again.
Nevertheless, this roller coaster ride seems fun.

This post has been edited by danmooncake: Apr 16 2010, 07:16 AM

Yes, Asia Market getting raped.. 'coz higher interest rate already here. Look at Singapore... they're the one who made that call.
So, bam! There it goes.

US market will get a small pullback... don't worry. Uncle Ben says rates will continue low.

Option holders will try its best to keep C from staying below $5 today and try to shake off the holders.
It is going to be volatile day for C. Q in your BUY/SELL early and keep your eyes on the monitor.

I'm watching Chinese stocks and see if there's any reaction.

BAC is like GE, a buy and hold kinda of stock. If you've patience (years perhaps), one should be able
to make a few dollars off it.

Over much longer period, BAC fundamentals should improve if the economy improves. Their first Q1 results are impressive but heck,
they didn't make majority of that off from their core business but through trading.

The market feels like pulling back 1% by next week. Oil and metals commodities moving down already.
C may not hold the 4.7 support line, but I'm seeing still a lot of calls option buyers for $5 for the far month.

If one can get cheaper price for C, go long is the name of the game here.

This post has been edited by danmooncake: Apr 16 2010, 10:05 PM

Goldman bad boy getting the whip!

Hang tight guys... don't go all in yet if you're long. Nibble..is the name of the game.
We'll dive below 11K if we closed -3 digits down today.


In small block:
C: 4.45
TCK: 42.40
FXP: 37.20 (got in premarket) - short term play due to China/HK already started to pull back today.
XPP: 69.80 (hedging for FXP, reverse play)


Good luck to all and let's all 'fatt choi' later.

This post has been edited by danmooncake: Apr 16 2010, 11:38 PM

It depends on your stock. Look at the RSI. Is it oversold?

Btw, the market is NOT collapsing. Just a healthy pull back. We already overbought territory longer than usual.
The market needs an excuse for any kind of pull back. The investigation by SEC into Goldman is the one that its need for the sell off during option day.

Great day for both longs and shorts (much better for shorts since this is pay day!)

Don't miss this opportunity for re-position!



This post has been edited by danmooncake: Apr 17 2010, 12:08 AM

IMO, Goldman, JPM, BAC, etc.. including C are all crooks!
They're the ones who got us into this mess.

But, let's all make money off these crooks as much as we can!

In AGU: 62.80, I was waiting for this pull back..

Update 12:30am:
Got a bit of ERX here too: 42.45

Also got some X: 59.30 (Missy Frogg - I'm hope you're watching this! Here's your 2nd chance!)

This post has been edited by danmooncake: Apr 17 2010, 12:36 AM

Don't panic guys. We all know this pull back is going to come sooner or later.
If you're long, like I said, just nibble some for now.

This market uptrend is still going. If you're bear, good that you've started a position yesterday or during
pre-market. Today, intraday high also good.

I think next week, we may see another leg down.

Good luck!

This post has been edited by danmooncake: Apr 17 2010, 01:32 AM

No, it is not so distant away. The $5 calls buyers are still a lot.
The negative news from Goldman just an opportunity for more calls buyers in near future.
Today, calls sellers won because they didn't have to sell those and they didn't get executed.

You see.. the US govt is in control of this. They knew about the huge volume of $5 calls and during option exp. day,
they release this Goldman boy bad news (Goldman actually also works for them-lah!). So, they don't have to sell $5 off today. They wait till next cycle to get better price. They slowly accumulating more shares through other proxy.

This is how the game is played. So simple.

This post has been edited by danmooncake: Apr 17 2010, 01:38 AM