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Closed my JNPR Oct 17.5 put @ 0.55, lost $0.12 including commission.
JNPR Oct 17.5 put may be a multiple day play but there is only 1 week left before expiration. Option is risky but hedged comparing with stocks.
I just opened an account with IB & traded very little. Using this time to test my strategy since the commission is low. Bought YHOO Oct strangle before earning. Took profit with the call option but keep the put option. With JNPR I only bought put option, with stock moves my way but still below cost. I have the option chart up to monitor the price action. These options are just for testing to see how the option react.
I feel the same. Buying just before the earning report is highly risky since the volatility is high & the option cost is high. I bought a jnpr oct 17.5 put option yesterday afternoon @ 0.65. Right now jnpr is 17.8 & option is 0.50 & still below cost.
Maybe should go back to Jenna's another strategy to stalk the stock 2 weeks before the earning when the volatility is low. Also maybe stay with high price stocks to keep the option spread tight.
I have been recommending Jenna's thread to my friends. They feel like you do that it is not too organized to follow. Some have already stopped following which is a shame.
It is too time consuming & may be it should be an current status summary list.
Retails are down (RTH). HD is downgraded, home builders & BDK move down with it. CMVT is down after the earning & upgrade. Looks like a profit taking day. Appx may have a new coming, option is expensive since it is a higher price stock. May be need to use spreads.
SIGA is a SARS play.
Briefing news today 14:14 ET Nine held in Texas on SARS concerns - MSNBC : MSNBC.com reports that 9 people connected to the military have been quarantined in Texas after some reported respiratory problems similar to SARS; a group of military personnel passed through the Toronto Airport recently, and some reported mild to moderate respiratory problems earlier this week after returning home; only one person in the group fits the definition of a suspected SARS case, and no one has been officially diagnosed with SARS or been hospitalized.
Lucky is I stay away from MIR lately since I do not understand the energy stocks that much.
Global stocks are very hot lately. Gold & oil is reversed up today. The whole market feel like a big bubble, lots of panic buyings the past a few months.
Wonder what tomorrow will bring. I have some cancer stocks ready for the cancer conference starting tomorrow.
The 50/50 chance of each trade concept is from my floor trader teachers. What you said about 70% of chart pattern is based on multiple trades. We need to remind ourselves it is 50/50 chance since news will change everything.
Thanks!I also have DJ news, Hottrend list, & Pristine's ESP real time alert.
I heard the stock earning does not get updated in database right away. Do not know how long it takes. Therefore if an earning report was announced last week I can not scan or screen out in my TC2000 software. Do not know how you get the list.
FLE is a short sqeeze play of an e-mail alert today since the short interest is very high. Worth monitoring next week too.
Notice there was a possible sp future error in a big brokerage house:
11:11 ET CNBC reports that a large sell order erroneously entered causing traders to scatter
Notice that the new alert is not increased in the market hour.
Whatever they say about employment number, I know lots of people can not find job. Let's see what Monday will bring.
Have a nice weekend!
Like 1 trading teacher said once you enter the trade your chance to make money is 50/50.
Today's market is very volitle. Indice may have a good chance to be in red since traders will close the trades before the long weekend. Hopefully no bad event will happen. There is a warning for Internet attack on Sunday.
I am sorry I did not enter the short sqeeze play of FLE today.
My mistake is not considering the time cycle. Like around the beginning of monthe is bullish. This year pension fund is rotating from bonds to stocks. The $ coming in the first 3 days. Maybe other mistakes I will make, hopefully not the same one:)
In the NDX daily chart on 6/27 it tried to break above 20 sma & closed below. One 6/30 the candle moved below the previous one. Then I decided to enter for the summer pullback. Seems there never be a perfect entry for funds. Like the option traders said 50/50 chance either way.
Thanks for the link. 21st Century has been in short fund for a while: http://www.21stcenturyinvestor.com/page/tci/aboutus/publications.html?sid=1047485025.12496
Worst come I can sell the fund. There is a good chance that we may have a pullback.
NDX is channelling down, I was also looked at SPX. They all seems like ready to break down like this morning. Then things happened, like money moves from bonds to stocks:
15:54 ET Market Action : Solid intraday turnaround in equities today with Dow rebounding more than 170 pts off its lows of the session. After choppy early trade, the Dow moved higher in an almost vertical fashion following favorable court ruling in Merrill Lynch research case (see 14:07, 15:00, and 15:16 comments). Also noted for late day buying was allocation trade out of bonds.
One things with fund is I can only swing trade in order to be successful. Still try to dust my crystal ball:)
Where is Alfonso?
I bough 2 x NDX bear fund (RYVNX) yesterday thinking market may break down soon. Luckily market is moving down today.
My TIWID is up today also. It is a good day so far.
I found Jenna has the pattern to take months off even in her earlier SI thread. Nothing is new. Just appreciate her contribution while she posts.
Power issues are lower today:
http://www.marketwatch.com/news/yhoo/story.asp?source=blq/yhoo&siteid=yhoo&dist=yhoo&gui...
Luckily I do not hold them long. Took profit last week already.
Bought PARS & some penny stocks, should be good with the bio conference this week.
10:53 ET Mirant halted - news pending (MIR) 2.83 -0.27:
Chinese stocks (CHINA SINA SOHU XING NTES) look like reversing today.
we are better not hold MIR thru earning, down today.
When is the earning report of MIR? I thought it is tonight.
Was MIR moving dn after the earning last time?
MIR is a good trading stock. Bought some TIWI today w/ low PE & good news writing. http://biz.yahoo.com/rf/030618/telecoms_telesystem_s_p_1.html
DYN & MIR r alive in a choppy market today.
ARDM: 09:34 ET Punk Ziegel reits Buy on Aradigm; target $9 (ARDM) 1.92 +0.06: Punk Ziegel reiterates their Buy rating and $9 target on ARDM, saying the stock represents an overlooked investment opportunity at its present $93 mln mkt cap; firm also cites the fact that pivotal studies for AERx Insulin are underway, continued clinical progress is being made for earlier-stage AERx and Intraject programs, and sees potential additional partner announcements for AERx and Intraject.
This is anothe possible mii lotto. Interessting to see MIR moves up & CPN moves dn today. Wondering if today is the day for indice reversal. My qqq put looks good now.
took 0.28 profit of MIR. will enter in pullback. indice may reverse today. looks like a profit taking day of other stocks. have july 29 qqq put options bought at yesterday's closing.
Thanks! I am looking for MIR to fill the gap to around 3.5. cpn & dyn are moving too. May be energy is hot starting yesterday. Just wish I know more about energy/gas stocks.
Alfonso:MIR looks good, I bought some yesterday. What do you think? Bought some SIGA too.
MIR, chk, ....time to long energy stocks?
upgraded today:
08:06 ET Lehman raises targets for homebuilders (OPENX) : Lehman raises price targets on CTX (to $92 from $75), DHI (to $36 from $29), KBH (to $74 from $60), LEN (to $80 from $65), PHM (to $83 from $73), and TOL (to $35 from $31) based on increased EPS outlook and higher multiples.
1 newsletter wants to short BZH. I do not know the difference between these 2 fundamentally. maybe someone will provide the inside.
OXGN....mini lotto of the day I think. PARS create aother hod.
PARS is moving up. Maybe another bio mini lotto.
Problem with carrying stock overnight is news may come out again your position. MIR is reversing like MSO.
MIR & CPN: what a mover today!
bought some LOOK. Jenna seems rest again. Maybe I will not waste my time here also.
TYC is moving up this morning:
08:56 ET More on Prudential upgrade of industrials : As noted in our earlier comments, Prudential raised their sector view on the Electrical Equipment & Multi-Industry industrial group, citing the benefit of a weaker dollar, expanded depreciation on capex under the recently approved tax legislation, above-avg dividend yields and below avg leverage, and attractive valuations. As part of the sector upgrade, firm upgraded the following stocks to Buy from Hold: CBE (target to $47 from $36), DHR (target to $75 from $57), EMR (target to $60 from $44), HON (target to $39 from $25), ROK (target to $28 from $22), SPW (target to $52 from $37), TYC (target to $24 from $15), and UTX (target to $80 from $66); firm raises Buy-rated GE's target to $40 from $36.
semi & NDX are red now. Does not look good. Hit strong resistance. Wonder what the closing will be. Will this mini-bubble burst?
OVTI is dying the whole day.
Micro cap stocks are like lotto ticket: SIRI, ICGE, NUVO, ONCY....
Hard to say for SIRI & XMSR.
GG seems to be good for day trade. I was lucky to take profit in the same day yesterday. Scalp one more time today. Has been lucky so far with it.
Bought some SIRI today from the upgrade.