Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Excellent Steve.....just looking around and noticed you had a good day <g
Sam
Updating positions:
Took profits in all positions today,
QLC GG 10 @ 5.50 & 10 @ 5.50 (20 @ 2.85)
QLC HH 10 @ 4.50 (2.75)
QLC GH 10 @ 2.40 (1.20)
QLC GI 10 @ .70 (.30)
DJV GL 10 @ 4.00 (1.85)
DJV GM 10 @ 3.20 & 10 @ 3.30 (1.35)
DJV GM 10 @ 3.20 (1.40)
QAV GY 10 @ 1.70 (.75)
QAV GY 10 @ 1.65 (.80)
Good trading to all and have a great weekend, steve
Profits are Great!
When you can get them that is <GG>. My ABX Calls are dragging me down a bit today and I was not positioned too well for the Positive move. Still a Positive day but not as Happy as I would have liked it to be.
Congrats on the index and QLGC trades Steve! :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
I will try to update positions shortly, all the Index positions have traded but waiting on a couple QLGC positions.
Profits are good, eh?
Good trading, steve
Congrats Steve!
It is Always Nice to have the markets move in the direction of our trades.
It sure makes all of the missed trades dissappear <GG>.
Keep Rocking Steve! :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
Not to get to giddy but we are rocking today.
Play or Plan Eh? <GG>
It is good to know that Zeev has good taste in slogans also <GG>. Yes, Congrats to Zeev and his Great Calls. A check to his charity would be a very Nice gesture.
Good Trading Steve! :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
Zeev uses your slogan Bob, he always says "Plan the Play and Play the Plan" I giggle thinking of you guys every time he says it.
Zeev's charity is going to get a nice check from me.
Good trading, steve
Zeev has Good Stuff!
Yes, I am going to have to start following Zeev in the future. Those were great trades he was looking at.
I am showing DIA Max Pain at 9400. I cannot get the DJX Max Pain to come up. 9400-9500 should be an Easy target for the Dow if there is no further Negative news.
Good Trading Steve! :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
Bob all stocks are tradeable but some move with authority and are stronger. QLGC held up far better then all its buddy's in Zeev's Q (QLGC, ELX, BRCM, BRCD and used to be GNSS but now replaced by MERQ). Zeev had a traget for QLGC of 28 if it broke 38, well it bounced in the 33 area. while in Sept it retreated to the teens with all the Q. BRCM just dropped to 14.70, BRCD dropped to 14.48, ELX dropped to 19.49 and GNSS hit 6.29. GNSS I believe was in the 40's in March what a short that was, eh?
I see QLGC having trouble with 40 in this run but if we go to 1526 or higher it will clear next resistance at 42.50 as well and trade near 45 I believe.
Something that we have not talked about this month yet but next Wed. is MAX-PAIN day and this rally is likely to take us right to MAX-PAIN levels and a little beyond before we fall back.
Good trading, steve
Yes, a Nice Holiday!
I spent the day swimming, drinking beer and eating too much. A very Nice jump here for all of your positions. The S&P Futures have been on a Rocket here and are just now finding resistance at 975. Congrats on all of your trades Steve! Yes, I will probably start to follow QLGC a little closer :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
Good morning Bob, I think I drank a little too much red wine yesterday but a great family day it was. The markets sure are happy, I couldn't ask for a better move. Maybe I will talk you into trading QLGC options in the near future not that there isn't more risk in paying higher premiums but the rewards can come faster and stronger as well.
Good trading, steve
Markets are looking Happy!
Big jumps in a Lot of stocks, QLGC included. So far today is starting to look like a good candidate for a HOD at EOD.
Good Trading Steve! :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
Thanks Bob, if I get a 2 week run here and QLGC clears the 42.50 hurdle I will do very well. Although I will likely take profits after the first run to overbought.
I am going to send a nice check to Zeev's charity before long.
His calls have been unbelievable from mid-May on.
He has 1526-1555, +/- 2 days of July 24 as his Turnip Targets.
He will watch to see if New Hi's Compx reach above 200, if they do, he may extend the price target to 1595.
Have a great 4th Bob catch you on Friday probably.
Good trading, steve
Excellent Trades Steve!
Wow, QLGC was Rocking from the Open today. It looks like most of the positions you picked up today were also close to the LOD. Great timing and anticipation on the markets! I hope that we do indeed get a two week Rally here so that they can continue to Rock for you. Congrats! :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
Updating positions:
I bought this am and some filled as I was off working on my little side project. I am long here in options and I have committed a good percentage of my tradeable money in this turn.
I follow Zeev Hed on SI pretty closely on Zeev's Turnips thread and he has the markets bouncing mildly here for a couple weeks potentially. His price target for this rally on the COMPX is 1555.
Positions from July 2:
QLC GG 20 @ (2.85)
QLC GH 10 @ (1.20)
QLC GI 10 @ (.30)
QLC HH 10 @ (2.75)
Positions added today July 3:
DJV GL 10 @ (1.85)
DJV GM 20 @ (1.35)
DJV GM 10 @ (1.40)
QAV GY 10 @ (.75)
QAV GY 10 @ (.80)
Good trading to all and have a GREAT 4th everyone, steve
Time to Buy the Sell recos <GG>
In Las Vegas that was exactly what Larry Williams was preaching. When there are a Lot of upgrades and Buy recos then you should be Selling as that is when the stock is at it's Highs. A Lot of downgrades and Sell recos then that is when you should be Buying as the stock is at it's Lows. We will have to see how that plays out with this latest round of downgrades Eh?
Good Luck Fred! :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
I cannot but agree, Bob. Meanwhile, I turn, in desperation, to the inimitable words of Thomas Paine, seeking courage.
Fred
iHUB is my hub!
A Lot of Scary stuff going on out there again today. OPWV is down 42% this morning after it missed earnings and was downgraded to underperform. ITWO is down 26% after seeing revenues drop 75% and was cut to sell by UBS Warburg. Sheesh, this is just the opposite of the Bubble when they were pumping up bad companies with Buy recommendations. Now they cut down just about every single company until it goes to zero.
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
FHRX?
Sheesh, is someone trying to short this thing to zero or what? Most any pharmaceutical company that has come out with Any Negative News has really been hit hard. I am showing the O/S shares on FHRX at 35 Million and it traded over 16 Million shares today. Can we say "Major Dumpage"? The earnings News was out at 7:34 AM this morning and the stock had already dropped from the previous Close of $18.25 to $5.93 in Premarket on just over 2 Million shares. Does anyone know if it was dropping on Monday in Afterhours? It looks like someone pulled the trigger on it in Premarket and the selling never let up much during the day. Can we say Manipulation here? If the stock was Down over $12 in Premarket then Who was selling? Or was it all Short selling? I really felt that this one was a Good candidate for a Bounce today but it seems as though Anything associated with Arthur Anderson now has the Red Plague and cannot stop bleeding. Anyway, it is up a little in afterhours but it could still go either way tomorrow. I would sure like to see what the Short interest is on it now. I am going to see if I can find out but it might not be updated for today's trading.
FHRX? I wish I had more Answers! :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
No Problemo Muell!
Hopefully I will have some answers that will keep you from making some of the mistakes that I have made in the past.
Good Luck Muell! :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
Many thanks to both of you guys, now I'll try to figure it all out. If I get confused I'll ask more questions. Thanks again guys!
Muell
Profits are Good!
Yes, I too should have anticipated a little more weakness going into the 4th. It is always hard to pass up putting that money in the Bank though.
It looks as though the Bounce in the markets might be over for today. I would not be surprised to see us Close LOD at EOD. If 9000 can hold support here then we Might get a few more Buyers tomorrow though. We could also be met with a Lot of Sellers though going to Cash before the 4th. It is still too early to tell if we will continue to sell off or not. Yes, the markets could still settle into a funk even if we do get a Good reaction to the holiday. I know that today I should have taken the rest of the day Off after locking in my Profits. Most everything that I made has been eroded by FHRX, Ugh.
Good Trading Steve! :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
Bob thats me to a fault, I stay too long quite often and I would argue I've lost more then I could of made in not taking good profits. If that makes any sense. I should have been more confident in this weakness I saw for Mon/Tues, ah well.
This bounce we are about to get may be the last real good movement we get for awhile. Because I think we will settle into the summer doldrums, low volumes, low volatility and option premium erosion until Fall approaches (late Aug/Sept/Oct).
Good trading, steve
Yes, QLGC has Good Swings
I was looking at QLGC earlier but Thought that FHRX would recover today. QLGC definitely looks like a Good Trading stock for Options.
I am not too critical about us selling our Puts too early. It is just Nice to catch that Extra Profit on the continued moves. I was about 60 cents too early on my DJX 90 Puts and 80 cents too early on my 93 Puts. I sure could have used those extra Profits to make up for FHRX today.
Yes, taking the Money and Running is always the Best when you can lock in a Good Profit. Especially when the markets have been so Volatile lately. I always like to capture the Most though when I can <GG>.
Good Trading Steve! :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
Bob you need to start trading QLGC options, a stock that has held up well and when it moves it moves. You pay more premium but swing trades in it work pretty well.
Hey don't be too critical of my taking profits, I'm trying to learn from you guys and the Plan and that means take the money and run, right? <VBG ...
Good trading, steve
That's right Steve! Thanks! :^)
Looks like we were a bit early on selling our Puts Eh? Sheesh, if not for FHRX I would be having a Great week already. I am a Sucker for trying to catch a falling knife.
I should just stick to the DJX trades <GG>.
Good Trading Steve! :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
Hi Muell,
Earlier in the day I picked up some July $5 Calls on FHRX at 70 cents, waay too early. By purchasing the Call I am anticipating, or betting, that the price of FHRX will be Above $5 before the Options expiration on July 19th. As the stock continued to fall I bought some additional Calls at 40 cents later in the day, therefore Adding to my original position. So far it Looks as though there will not be any further Bounce out of the stock. I will continue to hold the Calls though in anticipation of the stock recovering before July 19th. So far it does not look like a Good trade as FHRX is now trading at 4.25, well below $5. If the stock can recover above $5 before the expiration then it should be profitable. Right now it does not look like it will be though. FHRX is but another stock that has been scarred by Arthur Anderson and missing earnings forecasts. Interesting to me is that it is still anticipated to post a Profit and it Drops. Other stocks that post lower Losses continue to Climb. It makes not sense to me <GG>.
Feel free to ask any questions Muell. I will be happy to answer them. Sincerely, Bob :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
Muell I believe what Bob means is that has purchased the FHRX Calls @ the 5.00 strike for a cost of .40 or $400 for 10 contracts.
good trading steve
bbgold,
Would you mind explaining to me (a dummy about Options) exactly what this means? Adding FHRX $5 Calls at .40 I do understand you are expecting it to go up or you would have placed a Put instead of a Call. So I guess what I'm asking is whats the $5 Calls at 0.40 mean. Hope I've asked plain enough for you to answer. TIA
Muell
Adding FHRX $5 Calls at .40
My Timing is Really Bad today. I should have just taken the day off <GG>. Averaging down on the FHRX July $5 Calls here at 40 cents. I might just be throwing good money after bad though.
Let's see what happens! :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
Nice Trades Steve!
I anticipate that Nothing will happen over the 4th. At least I Hope that everything will go well. I picked up some July $5 Calls on FHRX this morning at 70 cents but look to be a bit Early on those also. I think that it might have been Safer to go for some Oct $7.50 Calls.
FUFGA.O @ .70
Good Trading Steve! :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
Out GE Puts at .65
It just does not want to seem to break below $28. I was reading that on Instanet last night it was down to $27.78 and was hoping for more of a gap down. Once again I am probably too early but there was a Buy reco on it this morning that Someone might follow so I am Out for now :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
Updatin positions:
I closed this one near the open,
QAV SZ 10 @ 2.05 (1.25)
I have opened Call positions that I appear to be a little early on but I am betting that by the close today we hold these levels 1375 on the COMPX and 9000+ on the DOW. We'll see.
QLC GG 20 @ 2.85
QLC GH 10 @ 1.20 too early on this one
QLC HH 10 @ 2.75
QLC GI 10 @ .30
Good trading to all, Steve
Excellent Trades Steve!
I was wondering if those $3.10 orders going through were buys or sells? Now I know <GG>. Congrats! :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
Updating positions:
At the close of the market I closed out these positions.
DJV SO 10 @ 3.10 (2.00)
DJV SO 10 @ 3.10 (2.05)
DJV SM 10 @ 2.10 (1.40)
I have one open position, which I opened on Friday near the close.
QAV SZ 10 @ 1.25
Good trading, steve
Congrats on the Puts Steve!
Are you going to hold until the 4th to see if we get further weakness? It will be interesting to see if we continue to see the markets sell off here Eh? All of the markets are under their major moving averages so it is Possible.
Good Trading Steve! :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
In GE Aug $25 Puts and ABX July $20 Calls
Looking for a further correction in the market this week. I might end up holding the GE Puts longer term if I do not get a good quick profit. Was also looking at the ABX Aug $22.50 Calls at .35 but filled the July 20 contracts at .45 first. Now I just need a further market correction here and Gold prices to rise again.
Let's see what happens! :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
Qwest News:
UPDATE 1-KPN emerges as potential KPNQwest bidder
7/1/2002 8:52:44 AM
UPDATE 1-KPN (NL:00908) emerges as potential KPNQwest bidder
By Eric Onstad
AMSTERDAM, July 1 (Reuters) - Dutch telecoms group KPN Telecom emerged on Monday as a potential front runner to buy all of Europe's biggest fibre optic network as the liquidators of bankrupt telecoms firm KPNQwest raced to find a single buyer.
Administrators have been fighting to keep KPNQwest's (NL:36492) 25,000 km datacommunications network running as they seek to sell it to one bidder, which is expected to fetch a much higher price than if they split it up.
However, two interested parties have both fallen by the wayside, leaving around 40 firms waiting in the wings to buy just sections of it.
KPN, a founder of KPNQwest and major shareholder, said on Monday it might be interested in buying more than just parts of the network, as it previously indicated.
"We might be interested in the whole network," a KPN spokesman told Reuters, but declined to provide further details.
He also said the network was not in immediate danger of closing after KPN and other telecoms firms contributed enough cash to stave off suppliers for the time being.
Administrators were not able to agree with Dutch venture fund Trimoteur on their 200 million euro bid for the entire network late on Friday while U.S. telecoms giant AT&T (T) dropped out of the running last week.
"I would still prefer to sell it as a whole," KPNQwest administrator Jan van Apeldoorn told Reuters, but added he was not aware that KPN was a potential bidder.
KPNQwest was declared bankrupt at the end of May and its spectacular collapse led investors and lenders to question whether the company misled them by presenting an artificially positive picture of its finances.
The former chief executive said the collapse of the debt-laden firm was sparked by a dramatic fall-off in demand for data services.
HOPE OF FRESH TALKS
Apeldoorn still held out hope of a revival of negotiations with Trimoteur, saying a big sticking point had been finding agreement on who would be responsible for keeping the network running while the formalities of a deal were concluded.
But Trimoteur partner Joost van Raay said it was probably too late to put their bid back on the table, especially since he had the feeling that creditor banks were opposed.
A source close to the banks said the Trimoteur bid was rejected because only 60 million euros of the bid was in cash.
Administrator Apeldoorn said there was no guarantee the network would be able to continue running after Monday, but the KPN spokesman said there were enough funds for "a period", declining to be more specific.
KPNQwest and other telecoms firm have banded together to keep the network running by paying suppliers directly, bypassing creditor banks which have seized funds paid by customers.
Complicating the sale process has been the dispute over why KPNQwest imploded so quickly. KPNQwest's auditors said last Wednesday that they had not approved the firm's 2001 results, disputing statements made by the firm's former chief executive.
Like ailing WorldCom (WCOME) , which faced fraud charges after uncovering improper accounting for almost $4 billion in expenses, KPNQwest's auditor was Arthur Andersen.
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
Updating positions:
Closed these positions on 6/26
AAW SD 10 @ .55 (.30)
AAW SD 10 @ .50 (.30)
UML SD 10 @ 2.00 (1.20)
UML SD 10 @ 1.95 (1.35)
AAW SX 10 @ 1.15 (.70)
QLC SG 10 @ 3.00 (1.65)
QLC SH 10 @ 5.90 (2.90)
QLC SH 10 @ 5.50 (2.90)
QAV RZ 10 @ .25 (.40) CLOSED ON MONDAY I BELIEVE
DJV SN 10 @ 3.60 (1.60)
QAV SZ 10 @ 2.00 (1.25)
I have now opened 3 new positions
DJV SO 10 @ 2.00
DJV SO 10 @ 2.05
DJV SM 10 @ 1.40
Good trading to all, steve
Out Q Jan 03 Calls and half 04 Calls
I ended up selling some of the 03 Calls at 1.05 and 1.20. If I was patient and waiting for the HOD I think that I could have sold them at 1.25 though. I also sold half of the 04 Calls at 1.40 but Patience would have given me 1.60. Qwest had a little bit of Negative news today IMO but it did not seem to slow down the Rally it had today. I still think that Qwest is undervalued here but wanted to make sure and lock in my profit. I will most likely hold the 04 Calls a while to see if we get a further recovery. There is still a Lot of upside potential but if the markets take another beating that that could also affect Qwest.
As usual I was most likely selling too Early :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
Sounds Good Steve!
Yes, a nice little runnup should offer us up some Cheap Puts again. A move to 9300 would be Very Nice. Let's see what happens! :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
Hey Bob and Alexed I will try to post the trades in the am but I did pretty well on this run but now i wait at least to see what tomorrow brings. I believe we run a little tomorrow but I will try for Puts probably at the close. If I'm right the DOW will clear the 320sma and come back to test it and then climb to near 9300 but it is still vulnerable and I will try to play that fall on Fri/Mon back to 9000.
Good trading, steve
Thanks Alexed, I will be Careful
Yes, I am just looking to play this as a Bounce right now. It would be Nice to think of it as a long term play but with all of the negativity out there from accounting practices I would not be surprised to see it move slowly. Hopefully there will be a Nice Bounce and I will have locked in a Good Profit. It is interesting that stockdiagnostics.com rates the OPS at 1, the highest rating. I also wonder what the True book value of the company is? Bigcharts is showing the book value at $21.61 a share. Interesting number with 1.68Bil O/S shares. They are also showing nothing but insider Buys this year. Right now I am Hoping that the Bounce will take Q back close to $4. I might not have the patience to wait for that though. I will probably hang onto some of the 04 contracts though just to see what might Eventually happen.
Good Luck Alexed! :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
That is true,but Qwest is a shaky company at best.I remember WayneR mentioning Worldcom was a POS at $20.It was worth only $3 at that time.Any company using EBIDA is full of it.That is BS accounting used by?Anderson of course.Remember all stocks are POS.Be careful.
Qwest dipped to $1.20 today
At that level the July $2.50 Calls were selling for 15 cents, the Jan 03 2.50 at 40 cents and the Jan 04 at 60 cents. I was just a bit Early with my LOD target and picked up the 03 and 04 Calls at .55 and .70. I canceled a 15 cent order for the July Calls since the Leaps filled first and I did not want the added risk. They would have filled 10 minutes after I canceled the order and closed the day at .35 bid, Ugh. It looks as though Qwest closed in Afterhours at $1.97. I am looking for a move back to at least $2.25 although $2 looks like short term resistance. I am not sure if I will take the quick profit on these contracts or hold them longer term. There is a Lot of time left on these contracts and a move back to $5 would be Huge! :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
Q Jan 04 2.50 Calls at .70, Better Buy
The 04 Calls look to be the better buy as it gives an extra year for price movement.
JMHO though :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
Qwest at LOD, Jan 03 2.50 Calls at .55
If Qwest can rebound at all then the Calls should Rock IMO.
Symbol is QAZ.O :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
Very nice moves, Steve, and very nice timing!
Fred
iHUB is my hub!
I don't have time to detail this but I have taken in profits in all my Put positions.
good trading to all, steve
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |