I think we're going to see sub 1200 soon. Puts position working for now.
Skynet still in selling mode. Hang tight.

Z: Watch LVS.. $40 is here.

Yes. I've sold the $40 put. If it falls below $40 by this Friday, then I'm force to buy it
but I'm collecting the premium today.

For calls, I'm still holding a bit $42 Jan calls, now under water.

But, then again, I still got a bunch shares of LVS commons now averaging around 32 (after months of covered calls earnings) which I will continue to use them as option hedging.

This post has been edited by danmooncake: Dec 15 2011, 03:23 AM

Dow 11823.48 -131.46 -1.10%
Nasdaq 2539.31 -39.96 -1.55%
S&P500 1211.82 -13.91 -1.13%

CNY in December? We're not even X'mas yet tho.
Let's have that Santa rally first.. this bear inside me also want the bulls to come out and play.



This post has been edited by danmooncake: Dec 15 2011, 05:35 AM

That was the mini one.. we need a bigger one.

Bears can't really go much further if Bulls aren't playing.

So, come 'mon bulls. Time to rebound here and move back up a little more

This post has been edited by danmooncake: Dec 15 2011, 10:19 PM

Rebought back $40 puts.. going long on $40 calls here for LVS (around when LVS=40.05).

Hoping short term bounce play.

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Added on December 16, 2011, 3:48 am
Update:

Sold out the weeklies calls when LVS was 40.85 for day trade scalping here. Pocket 25% here.
Volume is dying now. Going to wait again for tomorrow for another opportunity.

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Added on December 17, 2011, 9:00 amClosing update for Dec 16th

Dow 11866.39 -2.42 -0.02%
Nasdaq 2555.33 +14.32 +0.56%
S&P500 1219.66 +3.91 +0.32%

No much movement on this last day of opex for the month.
I must say.. it's not been a week of what I've expected.

This post has been edited by danmooncake: Dec 17 2011, 09:00 AM

Hey guys,

I'm here.. just went shopping during the weekend and bumped into Santa.
He apologized for being late. Something about one of the raindeer didn't want to cooperate.

Anyway, I think it is better late than never, right?

Last Friday closing was a let down for bulls..
even being a bear myself I can't bring myself to short at the floor when the indexes were all oversold.
Oh goodness... Anyway, I'm glad to see this pop.

SPX broke above the declining bearline at 1235 today.. so good to stay long side or buy this pull back.
Yes.. around that 200MA at 1258-1265 is where we'll see the resistance now.

Good luck to all and let's ride the long side for a couple of days and see how high it can go.

Hopefully the Europe side will stay quiet until after New Year.

This post has been edited by danmooncake: Dec 21 2011, 10:16 AM

Same here.. got out on one trade.. one more to go. I think big Santa rally is going to be a bust this year.

I will cabut at 1250...if we get there. Not going to wait for 1260.
Above 1270, I'll buy back.

We're still held hostage by Europe. Anytime, they will release bad news, even during holidays.

1251.. that's it! I'm out!

Happy Holidays everyone!

I was long since last Friday.. rode down to Monday 1202.. added more long position around 1205 (near closing).
If 1200 breaks.. then I would have got stopped out. Thank goodness that rally on Tuesday.

Now, I'm at the sidelines.. not holding any options position, just commons.

We're bumping up against that 200MA line at 1259/1260. Most traders are selling ahead of this to book profits.
I did today..

Going to watch it.. if any signs of weakness (perhaps those MMs may try to make up bad news from Euro)..
then go SHORT.. make that ceiling top at 1259 stands as it - then, safe to exit around 1232-1235.
But, if Santa wants this rally to continue.. I'm waiting for 1265 or higher to go back into the long side calls.

Wonder makes you think that this market is rigged isn't it?

This post has been edited by danmooncake: Dec 23 2011, 09:09 AM

Time to take your money and run...

I'm out till next week.. don't care about those low volume move up.

Have a very Happy New Year to everyone!

Hopefully, we'll make more money next year!

Good evening folks,

I missed the bullish gap up run yesterday because I took an extended holiday.. no trade.

I may try to sneak in some long buys here tonight.. during the pullback.
I think the bulls may try to another attempt to break SP500 1300 within the next 2 weeks.

Energy sector esp. Oil going through the roof now with the Iran issues.

This post has been edited by danmooncake: Jan 4 2012, 10:52 PM

Got out at 1280 today... pocket some change after 2 days.. market got no juice to push up above 1285.
Going to wait and see what happens tomorrow before diving back in.

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Added on January 11, 2012, 2:52 am
SPX 1296..Time to short more..but putting a stop at around 1300-1301 to be safe.

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Added on January 14, 2012, 12:28 amSPX: 1278, No bulls here.. ka-ching, time to cover for the weekend.

This post has been edited by danmooncake: Jan 14 2012, 12:28 AM

SPX 1290 - support, SPX 1305 - resistance.

Skynet indeed wants this market to go higher despite downgrade in Europe.
Buy momentum till it get to the next level. Then, start selling in Feb.

What's working so far:
Materials..
Industrials..
Energy..


What's not working: Financials..
The banks are still bleeding here..
C got whacked premarket..in earnings missed. Same as JPM..
But, WFC doing ok..

Gambling sector: I'm still trading LVS
Big thanks for China..holding up this market with the anticipating easing.

This post has been edited by danmooncake: Jan 17 2012, 11:25 PM

I think LVS got the upside to all the way to $48-$50 level. Earnings will be out soon (1st part of Feb).
Usually LVS runs up to earnings, then sell off.

1st phase: $40-$44 (completed)
2nd phase: $45-$48 (now, it is here)
3rd phase: $49-$50 (lots of resistance here - must take profit)

Even at phase 2.. got to watch that 47-47.50 level. If it can overcome 47.50.. I think phase 3 should be in sight.


This post has been edited by danmooncake: Jan 18 2012, 10:36 AM

Z: I still got some GLD that I bought back in 09.. holding on to those. Not sure if I want to trade GLD at this time. I like to just buy and keep that's all. Really difficult to say for AGQ since it is 2x leverage of SLV. SLV has tanked big since last May and stagnant since Oct.I think both precious metals will be in play again if we see another possible hyperinflation fear.

I still staying away from pure China play like RENN/YOKU/DANG.. these are so unpredictable. Still can't trust the accounting..

I got some copper miner stock to play too for now: switched out TCK for FCX (better PE).
I'm seeing a moderately good demand for copper this year.

This post has been edited by danmooncake: Jan 18 2012, 11:49 PM

Good evening,

I'll continue to stay long for FCX. It manages to close above the 200MA yesterday. Hopefully, earnings will be good.

Also, I've been watching DLTR (which operates the retail/discount) stores in US.
Stock been on a rise since last year..nice price action above 50MA.
Broke out above 85 yesterday.

Update:
LVS: 47.50 price target reached... next stop: 49~50. I like to see it touches 50 again.

FCX got stopped 1/2 out at $44.. both eps and revenue seems ok but trader wants their money back because less stellar outlook for first Q. Reloading back at 43.45 here.. will hold stop at 43.50 by closing.


This post has been edited by danmooncake: Jan 19 2012, 11:20 PM

I think some of those chips manufacturer are great play especially the new wave of handhelds like smartphones and tablets are ramping up production and taking over PC market.

For examples: I like NVDA and QCOM.

No trading for me this week due to CNY holiday eventho it is only here and not Wallstreet.

Waiting for short opportunity or small pull back. Also, I'm wanting a much bigger pull back later which
I think will happen sometime in the early week of Feb .. perhaps all the way to late April/May.

This post has been edited by danmooncake: Jan 24 2012, 09:50 PM