Words can't describe the pain from this today. I sold most of the srs for a 350 loss and my faz position is small anyways so I held it for a hedge. After that some how I ended up today, but I felt like I lossed. Notice the only losses I've had in two weeks come from ERY and now SRS.Leveraged etfs are now manpulated by quants, I truly believe. As for gains, everything shot up, and ill hope for a JAVA bid by monday.
Enjoy the weekend and ill have some postings!
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Shared the pain with my man RF today - got burned another 80 in the faz trade. Went ahead and sold out b/c the market can't seem to make its mind up where it wants to go. I am just really torqued about what happened today because we got BAD job numbers, no new GAME CHANGING news on financials, and everybody and their monkey's uncle jumped on the bandwagon in the last 30 minutes of trading. Unbelievable. I am eating a sandwich until the market can make up its mind where it wants to go, then playing commodities and basic materials.
ReplyDeleteSo much for ending the week on a positive note!
RF...a little pain today but let's look at the bright side...two of your big steady longs NTGR and IBKR logged nice gains today, breaking through 13 and 17 respectively. I built a medium position on each about 1.50 below those levels and look forward to further capital appreciation.
ReplyDeleteCnbc posted this article from one analyst who appears to be echoing sentiment from Meredith Whitney who said to not be short financials heading into 1st quarter earnings. The analyst has an argument looking out into the long term now that accoungting rules have distinguished reporting differences for liquidity losses versus credit losses.
ReplyDeletehttp://www.cnbc.com/id/30022465
I am long FAZ for one reason, WFC. Sometime bad is going down at WFC, mark my words. Perhaps its all of the $100+ billion in ARMS from Wachovia, but put it down on the calendar. The April $14 puts traded 16,000 in volume and another 9,000 at the $10 strike. These expire in 2 weeks and the volume is huge, therefore, bad news at WFC can lead to FAZ at $20+
ReplyDeletePLAYING THE ARBITRAGE IN JAVA EH RF?
ReplyDeleteOH YEAH RF FOR THE RECORD, I BOUGHT TIE @$4.70 AND ITS NOW $6.50.
ReplyDeleteI MADE 29% ON TTWO AND NOW 38% ON TIE. YOU NEED TO BRING MORE STOCKS UNDER $5 PLAYS DUDE, THESE THINGS ARE ON FIRE BROTHER. I WILL CALL YOU THE SMALL CAP GENIUS IF YOU CONTINUE THIS. YOU GET MY E-MAIL ABOUT THE EXCEL SHEET?
Dennis - Yeah I am playing the JAVA trade, we will see how it goes...I have a good idea for a stock under $10 for you tomorrow, good trading buddy.
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