With you on that Myrna. I've come to believe that hedging is a fool's game.

As for the shorts, what you're seeing is still market effects on high beta. You get a robust turn and these will turn as well. It's not enough to have a crap company short thesis after this much selloff. CRM certainly doesn't qualify. You're basically holding a leveraged market bet at this point, with risk of rocketing on even slightly good news combined with a market turn (look at Twitter yesterday). I'm not sure you're +EV any more, at least not without a stop.

I'd only be holding shorts with deep long term pessimism at this point, or if you have a market downturn thesis. Far OOTM puts are probably the best way to bet on a continued slide now; the leverage covers the lowered probability that the slide continues.

A market mood combined with the way the stock reacts to it. I should say that most of my trades are 5 min - 2 hour time spans, constantly watched, so they may not apply to most here as I don't think many trade on that time scale.

The rally this week feels like a bear flag.

I sensed a sideways or slightly up week, which is why I wrote calls on my SDS last week. They probably won't fill tomorrow (at 30), and will be happy to keep my downside protection. Possibly will add to SDS as I wrote puts at 29 (currently 28.90).

yes, im not really buying this rally either.. i was fully expecting to have to cover most of my positions , CRM, APOL , GRPN , jpm, but none have showed any strength today ..

did cover 17 grpn apr 19 , 12 puts @ 5.10 though .. as they expire tomorrow

Ford is stuck in this $1.50 trading channel, we have to break through $16.50. Intense bottom forming.

Makes sense. Good day for you so far...

Gamble gamble, up 6% buddy .

The fact that these stocks (other than crm) have failed to rally at all during this run up makes me want to stay short. I'm upset I missed out on interactive brokers on the long side . I had it penciled , but did not take action on it.

You guys have anything interesting for next week ?

Up to $25 from $21 yesterday, yikes.

Now maybe the time on AMZN, look at the charts... Thoughts? I'm just not sold on the market being done selling off.

EDIT: Took a position on a swing, $318 & change.

I have a trade show next week, so I'm not even looking...

FWIW, I'm not believing this rally either.

The chart on AMZN is very ugly. No indication of a bottom here.

1) It's not oversold

2) It can't even get above it's 10day moving avg. In fact the 10 day moving avg has been a brutal resistance area

3) There is still a distaste for high PE stocks out there.

That all said...I love the stock and earnings may change their current momentum. Also...the general market can possibly go from correction to uptrend within the next week so. If that happens it's good for AMZN too.

I do keep AMZN on my watchlist, but am focused on a support level of about 283-286 to start a position. GL.

edit: If you were dying to buy something today, I personally think adding to your F position is a much better play.

Sold Schwab for 5.5+% gain, Amazon looks alright. Got a very tight range on my stop limit, likely in no longer than a week.

bahhhh..


what i was hoping wouldnt happen ,, happened..

covered apol @ 27.30 , sold some options (may 37 @ 9.60)

covered crm @ 55.85 , still holding my large position in options since i did not get filled..

i think ibm misses , but i will wait ..

Look at our old friend XONE...

Another big squeeze into the close- the bears/shorts must be pulling their hair out

Amazon closes $5 above where I bought it and to high of day, incredible.

not cool at all ,, i have been laying off some of the positions,, crm is pissing me off,, so not worth the 9% i closed out on the stock so far..


i think with this low volume , we might rally tomorrow, which is why im expecting a rise.

but i think ibm will miss and so might goog ,, so maybe ill be ok tomorrow with all the orders that did not get filled..

either way ,, if i trade tomorrow ,, it wont be from nyc.. getting out of here for the weekend.

Google down 5% AH, missed on both on top & bottom. Glad you didn't buy?

w/o a doubt this rally the last few days,has been accompanied by very low volume. And the $GOOG miss will definitely help your tech shorts

enjoy your holidays

A swing and a miss for GOOGL...

and an UGLY one at that.

yeah, i was going over a list of stocks i want to go long , and that was there,, but i cant right now.. trying to get lighter now,, which i guess i could have by just going long xone and not covering parts of grpn , crm or apol , but i want to start almost fresh next tuesday ..

Google is affecting more than just it's AH price, Amazon just shed all of those gains. WTF? Bizarre.

It's hard to not troll but this is extremely standard