Finally post in v2.

Closed all my short positions in MGM and LVS. Now time to keep the bullets for the rebound.

Typically pretty fast, I normally use Public Bank and the receiving bank charges 15usd and the money gets there that night itself.

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Queue to buy MGM @ 10.86 and C @ 3.84
Let's see if can get it or not.

This post has been edited by miuk: Dec 10 2009, 11:42 PM

Haha, typo. 9.86.

Phew, actually thought i made a mistake keying in the order, had to go and double check it.

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Guys,

Any idea whats the story with CIT Group?

CIT is now back trading on the NYSE after emerging from brankruptcy @ 26 dollars

As far as i can recall

CIT - 80 cents then declared brankrupt
became CITGQ trading for like 20 cents
then now become CIT again for 26 dollars??

This post has been edited by miuk: Dec 11 2009, 12:28 AM

Crap C choose to repay the TARP money, there goes my money in there all diluted in their new stock offering.

Woah, looks like my C bought at 3.84 really become titanic already. Only good news is other sectors doing well. HDD manufacturers gained 3% today.

Just wondering, anyone rode the boat on STEC? SSD maker, Dec 10 price was ~11 and now it's trading for 16.75.

Well, one of my work friend actually mentioned this company to me but just that i never thought SSD companies will make a come back.

For STEC, price was hovering around 40 before collapsing to 10 due to bad reports from EMC (their biggest customers). Prob due to over selling thats why the stock price is recovering.

Tried shorting but can't borrow any on etrade for STEC. Looks like need to be on the sidelines for this stock, too exp imho and i think server markets will be bad for now. HP is on a 1.5 weeks extended shutdown worldwide for non-essential staff.

Factory orders up 1.1% but Pending Home Sales down 17%. Looks like market is loving the news, prices all moving north after the news

Talking about MGM and LVS (we all love these 2 over here in LYN), today is one of those rare days that MGM is outperfoming LVS.
MGM up 4.29% vs LVS up 1.55%

MGM got upgraded to buy from Goldman. That's why the stock is flying now.

I'm still holding some from the time 9 dollars plus, yay! Time to offload soon.

Fuh, just came back from a 4 day holiday and so much stock movements.
Kinda regret setting my order for MGM as "good for day" only. looks it might slide further coupled with a US Holiday this monday, anything can happen.

Watch out on STEC. 16 may still be a little high imho.
Will need to watch earnings report on both STEC and EMC (stec sells alot to emc).

STX managed to turn from loss to profit this quarter. WDC announcing quarter results our Friday morning.

I'm keeping all my bullets for now, kinda too unpredictable to go into the market right now, either for bears or bulls. Don't have the chance to stay up all night to monitor in case something massive happens.

Looks like data is not good, stocks all retreating. Looks like roller coaster tonight.

Stec now down to below $10. I might pick some back, definately over sold.

I just queued 200 STEC @ 10.18. Doubt that it'll reach below ten again today unless Ben says the wrong thing.

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Looking at the way STEC is going now, doubt my order will get filled. Early birds today almost $1 gain already.

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Order got filled and now dropping to 10.14. Let's hope for the best.

This post has been edited by miuk: Feb 24 2010, 11:54 PM

STEC heavily shorted currently, barring any bad news, should expect happy days soon as the shorts have to cover.

Short Interest (Shares Short) 13,876,600
Days To Cover (Short Interest Ratio) 5.5
Short Percent of Float 43.81 %
Short Interest - Prior 13,828,800
Short % Increase / Decrease 0.35 %
Short Squeeze Ranking™ 231

I was actually thinking of LVS as well. If it touches 18~19 next week might consider. Bulls too strong this week to try any short action.

here's the shorts data:
Short Interest (Shares Short) 47,949,300
Days To Cover (Short Interest Ratio) 1.9
Short Percent of Float 15.24 %
Short Interest - Prior 47,338,300
Short % Increase / Decrease 1.29 %
Short Squeeze Ranking™ 187