June 2012 Trading Thread

[cky23k]

I've been unable to trade for the past week since my broker has been having issues. Ugh, I'm sure there are some beautiful setups out there.

[Unknown Error]

Originally Posted by Unknown Error

I just closed my JPM Put Spreads
-> Trade outline: http://forumserver.twoplustwo.com/sh...26&postcount=8

I am now long LNKD 100/95 JUN Put Spreads to utilise the steep skew and make a derivative play of FB's IPO.

I am still long various units of LNKD 100/95 JUN Put Spreads, I am looking to carry them till expiration to realise a max return. Units will be sold if any reversal pattern may occur on the daily charts.

[savant111]

Originally Posted by cky23k

NFLX looks like a better short option than CLNE does to me. IMHO

Tks for feedback CKY. I doubt I'll be trading either this week. I liked the downside potential of CLNE it jus hit resistance before the market.

NFLX I saw the intraday short opportunity at 77, but didn't think the risk/reward was there. If I had a bigger bankroll I would of taken it.

[savant111]

Guys watch EXPE. It's gands nice chart and recently reported a great quarter.

It broke out today, but will probably fail since the volume was weak and market isn't healthy. Once this market settles however: POP POP!

[savant111]

Waiting for Bernake testimony.

Currently looking at Spy as my only short option. If market holds through his speech sitting out rest of the day.

Not Chasing CLNE or NFLX

[savant111]

short the spy at 132.45.

Very tight stop on this trade at 133.60. Basically betting that this is a short term top, If market continues to rally I want out. I'll be lowering my stops as I make money on the trade.

I put all my chips on this as it's the only way I can make money on a trade like this. If I'm still in by the end of the day i'll reassess things and consider if I want to hold over weekend.

[savant111]

Have to leave the computer for work. Going to hold the Spy short overnight. I'm down a couple of cents so far, but it's acting pretty well.

[highstakesfan]

Short SPY is a nice place to be to start Friday. The market could roll over 4 you.... gl

[savant111]

Thanks, yeah we'll see. Alot of volume, no price action, and a close at the low of the day are all good signs.

How come you don't post your trades on here anymore? I personally would like to see you more active on here. I think we trade a lot of the same stocks.

[savant111]

June 8th game plan:

If we head down big tomorrow I'm looking to cover about half of my position between 130.35 and 129.xx. I'll hold the rest through the weekend freerolling to around my original entry of 132.45

If we go down, but don't reach my profit target I'll likely hold through the weekend depending what the market does.

If we head higher I'm actually leaning toward holding though the weekend. Past 133, there are reisistance points in the 134's, the 135, and finally at 136.
Past $136.15 is where I'd start to be looking for long entries again.

I know I f'up my risk/reward by increasing the stop loss, but I really don't see us getting past 136 without another downleg.

[highstakesfan]

I would bail if SPY breaks today`s high. thats just me thou sell STOP around $133.65 is as far as i wont to go. U can always get it back later. My trades come and go rather quickly lately and i have no conviction worth sharing. I have been scalping stocks priced under $2 a share lately. I dont recomend it.Im long RAD but that can be gone before the paint drys from this posting. 3 cents up tomorrow near opening and its gone maybe even 2 cents maybe even a penny if my trigger finger is itchy. Next time Im long or short something over $10 a share ill mention it. I think is a short day but what do i know . Tech could go up or could go down i have no conviction either way. I would bail fast either way once im wrong. 2% Loss is enuff for me

[savant111]

I don't think I'll have to make that decision. Most of Asia is down, even China who just cut rates is flat. US futures are down too.

I think most people would agree with you about stopping at $133.65. I had 133.60 as my stop when I entered it, but volatility is so high right now $133 can taken out fairly easy, but the 3 resistance points above it seems very unlikely. I'm really not sure whats best, but I think I'm currently positioned pretty well so hopefully I don't have to worry about it.

[savant111]

LNKD is setting up nicely on the short side.

EXPE up 2.41% today. If anyone out there is bullish on the general market, this guy is a winner.

[savant111]

Spy short acting okay for now. Up .10c at 132.15. Looks like it wants to make one more push higher today, but keeps failing. It might get to 132.45 or 132.65, but I think it will roll over there. If it doesn't make another push forward, I think it will end up in the red for the day.

Either way I'll be holding through weekend and I think a 3:30 selloff is likely.

[BluffingX]

I sold spy at 132.80, currently it's at 132.50.. but my P&L shows negative.

Can anyone shed some light on this? Shouldn't I be in profit right now?