AI
Wednesday, March 24, 2004 2:18:38 PM
MWD---> GS (NFLX, RIMM final cover today) but GS and MWD puts still STRONG IN PLAY (MWD from 18th GS from 22) and holding (no shorts were called in GS we didn't need any, its too expensive when puts trade in the thousands of contracts its like trading the stock but for 10% of the price)
Monday night mailed update:
Market hitting sell off here. HOLD SHORTS. SMH did trigger at 37.50. NFLX under 29.20 or whenever you shorted hold it, also in TASR puts now. We have technically about 5-6 open put/short positions and 1 health care short/put position in play but I would like to pick up GS 100 puts for April at $1.65 so we have a rounded list of puts (brokerage, healthcare, software, hardware, semiconductors, builders).
from March 23 newsletter, short NFLX and puts, but just puts in RIMM
GS/MWD bearish brokerages since the MWD report we've been playing them to the downside and I'm continuing to be bearish until we get stopped out of winning put positions (we certainly did not hold a 100 buck stock short or long, but option puts were picked up as part of a straddle play for both MWD and GS and they are soaring well above the calls. Time to place stops in these options before tomorrow morning's AGE report!
What traders don't realize is that shorters are just as protected as long players when then put hard stops in OPTIONS or stock shorts and let the WINNERS RUN! There is very little chance we get a gap up of such magnitude that we lose our gains, at this juncture that is absurd! GS and MWD puts still running while RIMM and NFLX were exited neatly (no stops even needed we did plan to exit today and some exited already yesterday)
Monday night mailed update:
Market hitting sell off here. HOLD SHORTS. SMH did trigger at 37.50. NFLX under 29.20 or whenever you shorted hold it, also in TASR puts now. We have technically about 5-6 open put/short positions and 1 health care short/put position in play but I would like to pick up GS 100 puts for April at $1.65 so we have a rounded list of puts (brokerage, healthcare, software, hardware, semiconductors, builders).
from March 23 newsletter, short NFLX and puts, but just puts in RIMM
GS/MWD bearish brokerages since the MWD report we've been playing them to the downside and I'm continuing to be bearish until we get stopped out of winning put positions (we certainly did not hold a 100 buck stock short or long, but option puts were picked up as part of a straddle play for both MWD and GS and they are soaring well above the calls. Time to place stops in these options before tomorrow morning's AGE report!
What traders don't realize is that shorters are just as protected as long players when then put hard stops in OPTIONS or stock shorts and let the WINNERS RUN! There is very little chance we get a gap up of such magnitude that we lose our gains, at this juncture that is absurd! GS and MWD puts still running while RIMM and NFLX were exited neatly (no stops even needed we did plan to exit today and some exited already yesterday)
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