Agree. RENN got raped because of same sector as FB (social networking).
But, FB now got a support here around $30. The big boys are supporting it including evil Morgan Stanley.
Don't give up hope on RENN yet. I think it'll come back up but you got tons of sellers at around $5 now.

AAPL bulls and bears are fighting it out here between $550-$570. Let's see how it goes first. But, if it dives to $530-$540 area, I'll jump to the bull side.

I took another bite at LVS yesterday around $46.60. But I'll sell it if it gets to $48/$49 again to get some cash there.

All eyes on Euro and also China. China's PMI data just out, pretty ugly. Got to watch it.

Yes.. that's another way to protect your investment.

I'm going to try to see if I can short the 515-520 June PUTs by next week (get the premium), only if we'll get another -1% to -2% pullback on general indices after the long weekend. Maybe Europe will brew up another scare..

I've cashed out of my LVS holdings.. at around 48 level. Better to hold cash for the weekend.
I'll play again if it dives back to 45/46 level.

Z: Are you also watching MPEL too? I was keeping it on my side watch only.

Good support at low $12 at the moment. Seems to be forming a nice base around here.
If it dips below $12 again, I'm going to grab some.

Closing for weekend:

Dow 12454.83 -74.92 -0.60%
Nasdaq 2837.53 -1.85 -0.07%
S&P500 1317.82 -2.86 -0.22%

Almost everything is flashing sell.. bear flag formation.

Holding all cash for the weekend.

Of course I did lose money. No one is perfect. There are those bad trades that I have cut loses the moment it goes
against me. 09 3rd Qtr, I was down 15% - because I misread direction of the market, but made it back the following Qtr plus some gains.

Biggest loses was my rookie year - 00-01 (dot com bust)... -70%
Biggest gain was the worst year of the market (08-09) but good for bears... + 250%

This post has been edited by danmooncake: May 30 2012, 08:32 PM

I'll be trading two stocks tonight. Got 1/2 filled for MPEL yesterday @ 12.
P also got a buy signal. So, I'm going for it.

Still watching FB.. too many short sellers at the moment. I'm putting an alert for it when it hits $25.

Why? You've already jumped in?

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Added on May 31, 2012, 9:50 pmGot another 1/2 batch filled for MPEL @ 11.



This post has been edited by danmooncake: May 31 2012, 09:50 PM

Queuing for LVS @ 45.50.. no hit yet.

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Added on May 31, 2012, 10:24 pmFilled LVS 45.50 @ 1/4 position.

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Added on May 31, 2012, 10:31 pmGot P filled at 10.20 @ 1/4 position.



This post has been edited by danmooncake: May 31 2012, 10:31 PM

Here comes the Jobs numbers for month of May. It's bad..

May Non-Farm Payrolls only up 69k (vs 77k revised for April).
Private Sector: 82k (May) vs 87k (April)
UE rate: 8.2% for month of May vs 8.1% (April).

We're going down another level here.

No, 'coz I've already bought some at low of the day yesterday. But, I'll be watching the support level to see if it hold or bounce off first.

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Added on June 1, 2012, 11:13 pmRelative to $SPX and $DJI, so far, I'm playing these trio.. MPEL, LVS and P.

MPEL at 11~11.25
LVS at 43.75~45
P at 10.20~10.25

Watching FB 27.66 ~ 28.88 (will continue to wait for $25 before making move)

This post has been edited by danmooncake: Jun 1 2012, 11:14 PM

Got stop out from LVS @ 43.50..
Still holding on P and MPEL.

Wake me up first when FB touches 25.

If FB gets to $13, then STRONG buy.

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Added on June 2, 2012, 4:38 amGot out from P...

Closing for June 1st evening.

Dow 12,118.57 -274.88 -2.22%
S&P 500 1,278.04 -32.29 -2.46%
Nasdaq 2,747.48 -79.86 -2.82%

It's a sell everything for the weekend folks..
Even commodity like crude also getting crushed.
Oil 83.290001 -3.24 -3.74%

This post has been edited by danmooncake: Jun 2 2012, 04:38 AM

Not really in panic mode yet.. but I'll watch for a GAP down (yes, I would like that to happen) Monday evening, and if it happens, then I'll buy into this gap down. My indicators are showing the weeklies and monthly into oversold condition already. It will bounce up soon then I'll sell into the rally for quick profits later.

This post has been edited by danmooncake: Jun 3 2012, 09:28 PM

Some times when one chooses a broker or platform, it's not just the fee that one ought to look for..

Low cost broker always have their deficiency.. it's all depends on what you use or what you don't use.
If you're not a frequent trader or don't care about execution speed, just wanted to make sure they match your price.. and don't care about other tools.. then go ahead and pick the broker with the cheapest commission price.

Remember, you get what you paid for.

I'll wait...till the market gives me better signal. Tonight, I'll sell any rally if it happens. Now, it is just slightly up.

Everyday is a good day for trading at Wallstreet.. as long as the market moves (Up or Down). You can make money.

Still watching FB: 26.79.. new low so far.. still going lower baby.. just a $1.79 more to that $25 level.

This post has been edited by danmooncake: Jun 5 2012, 01:17 AM

Aiya.. no need to speculate.. just read the charts, it is telling you where it is going now.
Don't ignore them.

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Added on June 6, 2012, 6:34 amClosing for June 5, 2012
Dow 12127.95 +26.49 +0.22%
S&P500 1285.50 +7.32 +0.57%
Nasdaq 2778.11 +18.10 +0.66%

Market is up today.. so you got to ask yourself.. self.. do you want to buy this market here?
Why? What fundamentally changed since last week? Is Europe crisis over?
You all know the answer.


This post has been edited by danmooncake: Jun 6 2012, 06:34 AM

Z: Good trade! LVS had a good reversal day and closed pretty strong.
I'm out of LVS but still hanging on my MPEL. Holding a substantial amount.

Next ECB meeting.. going to see if they will have a coordinated effort to push this silly market back up and I'll be waiting for next short opportunity at the next resistance level.

Future's up Dow 70 pts, SP500 11 pts..

So, I'm looking forward to sell some to lock in my profits when SP500 peaks above 1300-1305 area,
and looking for short opportunity if we get to 1306-1310 area.

SP500 1308..target achieved.

Nice!! Time for me to lock in some profits on the "hopes" of ECB resolution..

This post has been edited by danmooncake: Jun 6 2012, 11:40 PM