Posted:
#1
The other thread is too long, lets start June a few days early.
June 2007 Stock Talk
Posted:
#2
Sold my orcl calls today pretty pumped to make a few bucks for once! Profits burning a hole in my pocket though. Looking to pick up some EYE. I been following it for a while and saw some news brought it down pretty good today..seems overblown to me. Im looking at getting the Jan $30 calls. Any thoughts?
Posted:
#6
Grinder,
That IDMI looks interesting around 3. I would take a shot at it there, but the stock needs to test the latest move and see if it holds this area.
With the market in overbought territory like it has been for quite some time, I think the real place to be in the short term is with the higher volitility stocks who have and keep moving..like RIMM, AAPL, GOOG, anything that has been on fire..with good stops of course.
I say that because if a stock hasnt performed and the market goes bad, there wont be buying in underperforming stocks versus those who have rewarded investors over the past year.
That IDMI looks interesting around 3. I would take a shot at it there, but the stock needs to test the latest move and see if it holds this area.
With the market in overbought territory like it has been for quite some time, I think the real place to be in the short term is with the higher volitility stocks who have and keep moving..like RIMM, AAPL, GOOG, anything that has been on fire..with good stops of course.
I say that because if a stock hasnt performed and the market goes bad, there wont be buying in underperforming stocks versus those who have rewarded investors over the past year.
Posted:
#7
Yeah, I want to ride that momentum but I get nervous with stops because I dont want to get screwed in the premarket or extended hours. I could by rimm for 165 put in a stop at 160 and then it opens for 140 or something and get killed. Is there anyway to avoid this or is it just part of the game? Or is sticking with options the best since only premium at risk.
Posted:
#9
wallstreet, i am curius what your background is.... i see alot of people turning to you for advice. i have been using the sports section on covers so i thought I would swing in to the investments section where i can actually help people. you seem to be doing the same thing. are you a self-managing investor or a professional?
Posted:
#10
krafcirkk,
Interesting name..
I have a past in the market as to a few others..and we have a few on here who are current brokers. I think this part of Covers is the best area of the entire site and everyone is here to help.
My past is being a broker in the late 90's to early 2000 era..was a broker and a trader etc and I am still very active in the market, self managed investor.
I doubt I would ever be a pro again..
Interesting name..
I have a past in the market as to a few others..and we have a few on here who are current brokers. I think this part of Covers is the best area of the entire site and everyone is here to help.
My past is being a broker in the late 90's to early 2000 era..was a broker and a trader etc and I am still very active in the market, self managed investor.
I doubt I would ever be a pro again..
Posted:
#11
None of my orders got filled today. Goog, amzn, aapl, ma, all up again...never seems to end. I think its too late to jump on the train, but dont want to fade them either. I'm trying to figure out some sort of spread with rimm and ma. Had good luck with strangle last time rimm reported and looking to go at it again. They report Jun 29th. Thinking july 170 put & july 175 call for debit of 1910.00
Posted:
#12
Grinder,
This is a good lesson on not forcing against the trend. If you have followed my comments over the last 6 months, I have been skeptical for TWO YEARS on the market..but I have been wrong for two years.
The most important point is I have not been forcing the market and been losing money because I think a stock is over bought and expensive.
We look for opportunities when the stocks break down and the market is either flat or down..and the reverse when the market is up. You buy strong stocks even though extended when they drop and bounce off moving averages..
People who have been forcing sales/puts on hot stocks, or picking bottoms are getting nailed, conversely people who have big huge gains and dont protect them are losing out (DNDN and JSDA are great examples) and people who follow the rules are doing well (the person who used a stop on AMD is a great example)
This is a good lesson on not forcing against the trend. If you have followed my comments over the last 6 months, I have been skeptical for TWO YEARS on the market..but I have been wrong for two years.
The most important point is I have not been forcing the market and been losing money because I think a stock is over bought and expensive.
We look for opportunities when the stocks break down and the market is either flat or down..and the reverse when the market is up. You buy strong stocks even though extended when they drop and bounce off moving averages..
People who have been forcing sales/puts on hot stocks, or picking bottoms are getting nailed, conversely people who have big huge gains and dont protect them are losing out (DNDN and JSDA are great examples) and people who follow the rules are doing well (the person who used a stop on AMD is a great example)
Posted:
#13
DNDN on another run today based on FDA news.
June 10's went from 5 cents to over 3 bucks if you timed it right..even if you bought at the offer of .10 cents thats a 30 bagger fellas..
Not worth the risk, but fun to talk about.
The 7.50s went from .15 to a high of 5.20 which is also quite amazing..
June 10's went from 5 cents to over 3 bucks if you timed it right..even if you bought at the offer of .10 cents thats a 30 bagger fellas..
Not worth the risk, but fun to talk about.
The 7.50s went from .15 to a high of 5.20 which is also quite amazing..
Posted:
#15
Sold my June 30 puts on AMR for about a 50% loss today and sold my Nov 60 puts on NILE today for about 20% loss. I didn't have much time left on the AMR puts so that kinda forced my hand but NILE has shown strength the last wk or so after initially moving down for me and I'm tired of trying to buck the trend in this bull market so I decided to cut my losses although I still think the stock is overpriced. 
Posted:
#17
Saw a guy today selling naked july 12.50 and 15 calls on dndn. What you think of that? At first I thought it was pretty risky but after thinking about it I'm not so sure that it really is. Also saw something else that seemed weird was puting in buy stop limits on apple oct 105's. Order was stop at 6 with limit at 7 even though trading at 3.00. I guess just figuring that if they get triggered apple would finally be in a downturn . Never really thought about doing it that way.
Posted:
#19
Grinder,
Puts on AAPL in a good market is a bad trade, the odds are against you. If you want to take a risk and understand that risk, then yeah you could hit it strong, but I want confirmation of trend change before I start shorting or buying puts.
Trend is up, it could change next week but lets have it change first and go WITH the trend versus against it.
Now you can go against trend with the right stocks, like the naked call selling on DNDN..thats a great decision if you ask me...the premiums are fat and you have plenty of time to back out if you wanted to. I looked at June 10s today, but the risk/return didnt seem right..even though the stock was about a buck higher than where it closed.
DNDN is a tough one because the MMs are pumping them full of premium and make it tough to get a big return.
In a bull market you can still short/put stocks that are broken..and in reverse during a bad market there will be stocks that go up...as you well know.
Puts on AAPL in a good market is a bad trade, the odds are against you. If you want to take a risk and understand that risk, then yeah you could hit it strong, but I want confirmation of trend change before I start shorting or buying puts.
Trend is up, it could change next week but lets have it change first and go WITH the trend versus against it.
Now you can go against trend with the right stocks, like the naked call selling on DNDN..thats a great decision if you ask me...the premiums are fat and you have plenty of time to back out if you wanted to. I looked at June 10s today, but the risk/return didnt seem right..even though the stock was about a buck higher than where it closed.
DNDN is a tough one because the MMs are pumping them full of premium and make it tough to get a big return.
In a bull market you can still short/put stocks that are broken..and in reverse during a bad market there will be stocks that go up...as you well know.
Posted:
#20
Yeah, it actually wasn't me putting in the apple put trades it was something I saw a guy doing. I just thought it was weird because they were trading at 3 a contract but he put in a order buy stop limit at 7 which would get triggerd at 6. I was thinking why not just buy them now at 3 but after thinking about it he must be thinking that if it gets triggered aapl must be in a downturn and now reason to buy now if it keeps going up.
Posted:
#22
I got a limit order in order in for 20 of the $20 june shfl calls. They report earnings next week....I have a plan though if i get burned....Im gonna buy up a bunch of $15 '08 and '09 contracts (for cheap I hope)...I know they have had problems but I think they will get there shit together. Hope they get filled, no once budging from .50 bid and .65 ask.
Posted:
#23
Grinder..
I dont like what I see with those options. The 20s are 70 cents out of the money and add another 50 cents and you need the stock to move between 8-10% in order to make any scratch.
Why not buy down to the 17.50s and buy fewer contracts? If it fails earnings wise you wont be destroyed?
I dont like what I see with those options. The 20s are 70 cents out of the money and add another 50 cents and you need the stock to move between 8-10% in order to make any scratch.
Why not buy down to the 17.50s and buy fewer contracts? If it fails earnings wise you wont be destroyed?
Posted:
#25
Grinder,
The trade isnt sexy thats for sure..meaning if the stock goes up 2 bucks to 21 then those 50 cent options (if you got filled) would be a 4 bagger while the 17.50 options go up 3.50 and you make a 50% return, but reverse if the stock goes to 18 you dont lose 100% of your investment either..
The difference is me 10 yrs ago vs today..10 yrs ago I make that first trade looking for the fences, today I make the more sensible trade trying to preserve capital.
The trade isnt sexy thats for sure..meaning if the stock goes up 2 bucks to 21 then those 50 cent options (if you got filled) would be a 4 bagger while the 17.50 options go up 3.50 and you make a 50% return, but reverse if the stock goes to 18 you dont lose 100% of your investment either..
The difference is me 10 yrs ago vs today..10 yrs ago I make that first trade looking for the fences, today I make the more sensible trade trying to preserve capital.
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