Short term momentum trader.
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Yup, I saw. Crazy stuff.
TSLA is going to be volatile for a while,
which is perfect short term option play for me.
Looks like $176 intraday resistance.
Market is very jittery and I see TSLA closing near $170.
Long @171, Out @175, Now Shorted @176. Hoping for $171 or below by close.
Also, played the call option up, and now playing the put option down.
Yep, gave back $280 from $2200 morning profit.
Market reversed back up after it faked a move down.
Can't win 'em all.
But lose small and win big.
Just shorted @10.94.
HIMX looks strong but market is starting to rollover.
See if this pulls back into $10.50s or so.
Otherwise, I have a stop limit at $11.01
Gold $1280 to $1320 +$40 Spike
Yesterday, it dropped a $40, and today we spike $40.
Of course we all knew it would happen...
because this is heavily manipulated.
Some billions of dollars are having a ball shaking
gold and silver up and down.
Don't be fooled into thinking this is a beginning of a long run rally.
Cuz...once traders throw down big money on the table it'll reverse again. Same thing on the downside.
Big boys are having a ball with this.
Sold too soon. Missed 82% gain instead of 36%.
GDX October 4 $25.5 call option hit .20, and looks like
it gonna go higher.
Sold it literally minutes too soon before GDX took off.
Oh well, that was a nice 36% gain anyway.
Shorted @8.05, Hoping to cover in low $7s...
Been playing this in both directions.
36% profit on GDX Oct 4 $25.5 Call Option
Entered yesterday at .11 cents and just got out at .15 cents.
Very risky but also very rewarding play.
Chinese national holiday I from Oct 1-7
If gold tanks through Friday, it might be good time to load up Oct 11 call options on Friday just before the close with the conviction that gold will make some bounce on Monday Chinese return from the holiday.
But I have a hunch that naked gold shorts will cover before Monday
which means we may see some short covering spike on Thurs or Fri.
I read in another similar article that this short attack was in a tune of cool one billion dollars.
Out @10.56 today. Wanted to ride to near $12,
but it seems like it'll be up/down sideways before it moves up.
I'll try to play the volatility for now.
LOL...both of you guys are funny!!!
BTW, that is a very interesting article.
Many of us already knew that gold and silver is heavily manipulated
particularly on days when you see gold and silver swing $40+
without any particular reason.
I did noticed over time that it seems to go in cycle where
gold tanks in one part of the market only to spike in another later in the day...or visa versa.
In the big picture, I do think these metals have longer term selling
pressure, but in the short terms, I'm sure it'll bounce around like
a football that's made of that bouncy rubber superball material...
meaning its difficult to guess from one day to next how its going
to move.
Therefore, I've focused more on the intraday trading than trying to
trend play this.
47% gain on put option (Oct 4 $8.5)
In at .15 cents and out at .22 cents.
JCP is like ATM.
Just buy put option whenever it tops out and starts reversal.
USLV in @60, Out @63.
Now over $3K profit for the day.
Now, I need gold to follow silver, so that I can profit
on call option.
Minutes after my last post, USLV takes off!!! Hee Haw...
Yes, I will write option trading summary with some screen shots,
but after market closes because I'm a day trader and today
I'm very actively trading.
Up $2700 so far!!!
In @46, Out @47, Got Call Options (Oct 4 25.5) at .11 cents
Pretty dangerous option play, given the down trend
and very short expiration.
So I'm play just small amount, but if it bounces a bit,
I could get big percentage gain.
However, gold hovering near bottom doesn't look good right now.
Hoping for a quick bounce before EOD, before sinking again.
Also, still holding $60 USLV from this morning.
Could've sold it at $63 in pre-market for $600 profit,
but got bit greedy.
Pick up some $46.
Again very strange volatility without clear reason.
I think Gold and Silver are just heavily manipulated
and $46 seems like good short term bounce entry.
Would be nice to get out at $50.
Picked up $60. More buy order @55.
This is really wacky price movement.
I think we'll see USLV bounce back to $68 to $70.
WallStreet: Long Government Shutdown May Finish JCP and BBRY
http://finance.yahoo.com/news/long-government-shutdown-may-finish-102924009.html
Official: Our fearless government is shutting down!!!
Can you believe these morons?
A potential of JCP failing is a natural selection in capitalism.
Our government aren't supposed to be like union where they can
pose a shutdown strike like this.
I say we put into a law that severely punishes these morons
of their job, salary/bonus, and also impose huge fine for
screwing up their work.
Yup, GS already losing 6.5%, or about $50M (and soon to grow) on this investment.
Done. Would've been better if it was in linear format so that one can see the dramatic fall.
Yes, JCP will move fast but its in southbound lane at the moment.
They have to first make a U turn to go north
but their navigation is broke, and with additional dilution
they've picked up steam going southbound.
JCP may get luck and turnaround at $7, but my gut feeling
tells me that they could flirt with getting to $5 or below...
Another ~50% gain on Oct 4 put option play.
Got in (JCP_100413P8) at .11 cents and sold at .15s and .16s.
I almost never play these short term options with just few days of
expiration since they are highly risky as time value alone
will erode the option value, but in JCP's case, I just have that
much confidence.
I will look to play these again tomorrow:
JCP_100413P8 <-- Jan 4 $8 put option
JCP_100413P8.5 <-- Jan 4 $8.5 put option
Gotta be very careful though...
If you look at these options they actually lost value today
even though JCP is down -2.9%. This is because of both
implied volatility and time value is eroding the option value.
Therefore, how you should play this is, wait for JCP to make some
bounce up and look for a reversal pattern.
This way, the overnight loss in time value and any change in implied volatility is already accounted for, and now you can
play for the actual stock movement.
This is very heart-throbbing exciting play, but not for the
beginners as you have to be pretty savvy to pick the reasonable
entry and exit points without being too greedy.
Because you do NOT want to be caught holding these options
too long with expiration coming this Friday.
Secondary Offering is Artificially Holding Up JCP at the moment
Once that artificial support is removed, JCP is going to free fall.
There is absolutely no threat of JCP making a big bounce
other than:
1. Someone making a crazy offer (but they could pick it up
cheaper by just letting it run down first)
2. JCP actually reports respectable earning (which is not until Nov)
So for the months of Oct, JCP is going to continue to hit
all time (record) lows.
Yup. Should see a nice run tomorrow.
This is on a day when market tanked big.
Hopefully morons in congress get their act together and
come to an agreement tonight, so that market and
Chinese solars can rally tomorrow.
Breakout Continuation for Chinese Solars Tomorrow (STP,LDK,CSUN)
Looking for breakout continuation into $2 tomorrow.
Major Breakout. Should Hit $2 by tomorrow!!!
Monster Runs: STP, CSUN, LDK
Chinese Solar on Monster Run ((((STP))))
Could see temporary spike on US and Italy situations
I don't believe that it'll be long lived, but for a day to few days
gold could see some nice upside spike.
Market futures are down on Italy and US
Could be broadly red day and that should further pressure JCP as well.
40% dilution means big shareholder loss even if JCP price doesn't drop
Smart money knows, JCP is artificially propped up right now to
support the secondary offering price.
This ain't going to last folks. That huge dilution alone will
tank JCP to about $7 range at least.
There could be short lived spikes, but playing the short side
or put option is the better profitability play.
Management is floundering and analysts are chopping down JCP into
pieces right now.
I'd say, there is better 50% chance that JCP may end up filing up
bankruptcy in mid-2014.
Covered October Put for 488% profit from yesterday's entry.
I was expecting bigger massacre today, but based on analysts
and experience trader's comments, 2 things happened to keep
this price up:
1) Massive shorts (some 80M shares) from perhaps $30s were likely
the purchasers of secondary offering, which cushioned the fall.
2) Investment bank involved in the secondary offering also
worked to keep JCP from crashing out of control.
What that means is, assuming those forces are done with their work
given the 243M shares traded, I believe JCP will resume the
bloodshed next week, and look to repeat the put option play.
40% dilution deserve bigger drop. It's coming.
However it's done, there is intentional manipulation in the works
to fight the shorts for to make the secondary offering respectable.
Once that force subsides, JCP is going to be in bloodbath.
JCP will see $7 or below in coming days.
Yup, knew it was coming.
Looking for about $8.50 close today.
Let's see if it'll get there.
(Article) Big Short-Sellers are buying JCP to cover.
This explains it. No smart money in right mind buy billion
dollar worth of sinking ship.
But for 80M shares that are short, it makes sense
for some of those big money that are sitting on massive profit
are buying back to lock in the profit, and
probably also buying the put option to continue their
short side profit.
http://finance.yahoo.com/news/counter-jc-penney-offering-just-173617277.html
Nasty Views/Downgrades, Targets PPS chopped big.
Normally JCP should have tanked big today, but something is
going on to artificially support the price above $9 for the moment.
I think it's somehow tied to the secondary offering
because if stocks tanks significantly below the massive offering
that would not motivate the new offering purchase.
When this artificial money holding up the JCP fades,
it should resume the downward spiral.
I recommend holding the short position or put option past today.