August 2012 Trading thread

[berya]

Originally Posted by krmont22

I short things a lot, but they often can not come up with even 100 shares of things half the time. I also got an email the other day about a position I was short 300 shares, and they said they no longer had the shares to borrow and asked me to close it out within 24 hours or they would do it for me.

Look for a new broker.

[NajdorfDefense]

Ouch, PCLN. I effing hate round-trips. h8h8h8h8h8h8h8h8h8h8

[savant111]

Still loving CELG and AAPL for the record. Once we pull back, I'll likely cover my shorts and buy both.

LTD i still like too, but it needs to pullback and also has earnings next week. They already pre-announce upward revisions to their estimates for what its worth.

[stockguy3205]

I like the SPY short right now (for a trade), I believe if the market is going higher it's going to pull into into it's 50ma before doing so. If the SPY gets above today's high on a closing basis, you would be foolish to continue holding

[cky23k]

Originally Posted by cky23k

Doubled down on my CSCO short, average now @ 16.52.

Might add to my LHO short if there's another pop soon, but market looks fairly weak in the near term.

LHO about break even in 3 days. CSCO down 3% in 3 days. The market has defied all odds and kept rallying the past few days. I'm not worried though everything I look at is flashing sell. Only a matter of days till we correct.

CSCO the POS should fall hard and hopefully within a week or two. I need to get out before earnings (8/15). I think there's still money to be made here, but I don't think I'm going to add to my position for risk control reasons.

If CSCO for some god forsaken reason doesn't retract, I'll make my decision quickly and take the loss, but as of now I still think I'll be profitable on this trade.

[highstakesfan]

I wish i had the money to buy PCLN down $110.00 premarket @ $569.00... this will bounce up alot... small float.

[highstakesfan]

And we're off... market will turn green

[savant111]

Id wouldn't be buy/pray on PCLN here. If one was determined to play the earnings miss, CMG has at least had some time now to digest.

I wouldn't buy either, but CMG is in a better spot right now as far as broken high flyers go.

[cts]

any thoughts on QEPC?

[Justine Bieber]

Originally Posted by highstakesfan

I wish i had the money to buy PCLN down $110.00 premarket @ $569.00... this will bounce up alot... small float.

I am strongly considering this right now

[savant111]

Market continuing to show strength. We not even overbought yet.

Celg and AAPL at good buy points right here. LTD fpulling back.

Going to watch the close here carefully. I might lighten up on my shorts if we don't see any selling volume come in final hour.

[tastychicken2]

I think direction of market will be down eventually but as I said before direction in near term is a complete gamble

Anyways hit another 10%. Ship it

[allstarrt]

Originally Posted by savant111

Id wouldn't be buy/pray on PCLN here. If one was determined to play the earnings miss, CMG has at least had some time now to digest.

I wouldn't buy either, but CMG is in a better spot right now as far as broken high flyers go.

CMG is gonna get hard with commodity prices from the drought prices of corn went up something like 80% or something so far this year. CMG would be great if it weren't for macro events

[Shuffle]

"Who can remain patient in extremes?"

...holding short SPY.

[Shuffle]

Originally Posted by savant111

Market continuing to show strength. We not even overbought yet.

Completed inverse H&S target yesterday from June 4th low.