I sold Jun $105 covered calls on mine for about $5.20 a few weeks back.

I was going to sell Jul $110 puts last friday, but the limit order didn't hit before close.

Also, JBHT way up today. Somebody upgraded it to buy.

6/14/2010 4:20:18 PM

Bp continues its march to zero.

6/14/2010 4:41:41 PM

rallydurham continues his dumping on BP.

Are you going to do anything else in this thread?

6/14/2010 5:49:23 PM

^^ it doesn't look good.

http://www.guardian.co.uk/environment/2010/jun/14/barack-obama-oil-spill-speech

Quote :

"The five accusations levelled at BP by the committee are: • That it adopted a cheap design for the well, choosing a single casing rather than a more sophisticated design, despite the fact that its own analysis found strongly in favour of the latter. "The decision appears to have been made to save time and reduce costs," the letter says. • BP went with the cheapest option of using just six "centralisers", which hold the casing in the centre of the borehole, despite being advised by its contractors Halliburton to use 21. Halliburton warned that the well had a "SEVERE gas flow problem" and that using six centralisers would risk the success of the procedure. • BP decided not to carry out an acoustic test designed to measure the efficacy of the cementing of the well to block off gas flows. The test would have cost $128,000 and taken an extra 12 hours. An independent engineer who gave evidence to the committee said it was "unheard of" not to perform the test and slammed the decision as being "horribly negligent". • BP failed to check the proper workings of the new well system by circulating drilling mud from its bottom to the surface. Halliburton suggested the lack of a full test was due to BP's desire for speed. • The firm did not install a critical piece of equipment that locks the wellhead and the casing at the level of the sea floor. The absence of the "lockdown sleeve" has been identified as one possible cause of the explosion."

6/14/2010 8:52:36 PM

just set some trailing stops on my EDC, TYH, ICN, and CTRP...

6/15/2010 3:47:45 PM

Damn. We need a down day this week or else these calls are really going to put a cap on my earnings.

Also, fuck whoever upgraded JBHT on Monday. I was planning on it staying below $35 through friday, otherwise I wouldn't have sold July 35 calls on top of my Jun 35 calls.

6/15/2010 4:25:08 PM

I dont know shit about the stock market, but I just checked my 401k balance and that fucker has taken a hit since I last checked in april

6/15/2010 8:33:43 PM

Well today would be a the best day to look, since we're down right under 8% off the April highs, as opposed to 12% which is what we were one week ago....Re-balancing into defensive funds now that the Dow is at 10,400 wouldn't be the worst thing, given the terrible news today and yet we rallied.


CDS's indicate that a 35% chance is baked in that BP defaults in the next 60 months.....

[Edited on June 15, 2010 at 9:45 PM. Reason : .]

6/15/2010 9:41:41 PM

Quote :

"my bet would be that BP reduces dividend to $.01"

Oh man, you were waaaay off.

Crackpot.

6/16/2010 3:14:10 PM

BP's founder said he expects BP to file chapter 11 in the next 30 days.

I don't necessairly think it'll be that fast, but it is looking more and more likely.

The stock is certainly overpriced, I haven't looked at their bonds but perhaps that's a way to less money if that's your goal.

6/16/2010 5:43:35 PM

I think you read the article wrong.

http://money.cnn.com/2010/06/16/news/companies/matthew_simmons_bp.fortune/index.htm

I googled and couldn't find anything from the founder of BP, which isn't surprising considering that BP was founded 102 years ago.

Quote :

"it is looking more and more likely."

Most people in the industry are giving it about a 10% chance.

6/16/2010 5:58:37 PM

^ sorry, a little drunk and was talking on the phone when i wrote that. Clearly i made a mistake on the information relay haha.

6/16/2010 6:25:32 PM

Flat couple of days.

on 6/10 I sold Jun 11 calls on AA for 0.45
bought them back today for .06 and sold July 11 calls for .56
Hopefully I can buy them back on the cheap on our next big down day.

COH and YUM are being called away, but I've already sold puts one month out at the same strike price, so I'm happy.

6/18/2010 4:28:00 PM

picked up some BIDU for old times sake..

6/18/2010 5:50:25 PM

The money columns are always fun to read on boring Mondays.

Dear Liz: My mom has BP stock. Currently she is moving toward applying for Medicaid to pay for nursing home expenses, and I was advised to put the stock in my name. Now I am watching her stock (and savings) plummet. It’s gone from a $100,000 savings to about $40,000 currently. Do I take it out, or do you think it will come back and I should leave it alone?

6/21/2010 1:59:32 PM

GOOD THING I GOT OUT OF BRKB AT 75!!!!

6/21/2010 3:01:59 PM

I bought a FCX August $60 call Thursday for $8.45.

With FCX up 6% at one point after the opening bell, I sold today for $11.15. After comission and giving Obama his cut my profit is still a respectable 25.3%

6/21/2010 5:04:40 PM

reopened my position in PCLN at $190 now that it's fallen hard from its high at $270

I sold my last bit at $45 on 4/21/07

6/22/2010 3:01:46 PM

This market bores me.

6/23/2010 3:00:10 PM

i've been bored by it for a while now, hence my lack of posts in this year's thread.

6/23/2010 3:16:11 PM

Note to self:
MCD puts
RHT calls

6/23/2010 6:00:15 PM

Put $10k (max allowed ) into the Savings Deposit Program today...it's a guaranteed 10% interest savings account for deployed military personnel. You can keep it in there until 90 days after you get back home (and I kick myself for being slack and taking 6 weeks too long to get around to putting the money in).

6/23/2010 6:06:44 PM

picked up some FAS

the grownups know that regulation = good for long term

6/25/2010 12:31:39 PM

Even Cramer thinks this new regulation will be good for the financial industry. That is saying a lot.....

Plus I think traders and hedge fund managers have already priced into most financial stocks "worst case scenario" as far as the upcoming new legislation on the financial industry. So anything better than this will mean an upswing in Financial stocks.

[Edited on June 25, 2010 at 2:53 PM. Reason : a]

6/25/2010 2:52:14 PM

Quote :

"Even Cramer thinks this new regulation will be good for the financial industry. That is saying a lot....."

Yeah, it's saying a whole lot. Like how terrible it's gonna be.

6/25/2010 4:43:59 PM

Liquidated about half my portfolio yesterday, I think ill sit this next recession out.

Needed to have an emergency fund in case thiunks get really ugly this time

6/29/2010 6:37:07 AM

ok - i'm upping my ante in some FAS and BIDU

..risky

6/29/2010 1:13:33 PM

Circuit breaker at work:

Quote :

"Shares of Citigroup Inc. (C:$3.735000,$-0.265000,-6.62%) were temporarily halted Tuesday afternoon after sliding as much as 17% to $3.32, triggering a new circuit-breaker program before resuming trading minutes later. The plunge was caused by a single order of 8,820 shares of Citigroup (C:$3.735000,$-0.265000,-6.62%) at $3.3174 entered at 1:03 p.m. Eastern; the previous trading price was $3.80, according to Ray Pellecchia, a spokesman for the New York Stock Exchange. The trade was reported in error through a so-called trade reporting facility, which handles off-exchange trades, according to Financial Industry Regulatory Authority Inc. spokesperson Nancy Condon. The facility is operated jointly by Nasdaq and FINRA. Citi's shares resumed trading at 1:09 p.m. Eastern, returning to levels seen before the drop, or down nearly 6%."

6/29/2010 3:30:07 PM

^^ close out yet?

6/30/2010 12:13:31 PM

just ante'd up some more on FAS

dabbling in some TSLA

6/30/2010 3:52:41 PM

I'm not touching TSLA.

What a shitty close.

6/30/2010 4:04:08 PM

its tempting to try to catch a mini rally, but since the market is headed down further i think ill just sit out instead of trying to catch the proverbial knife.

Why are you guys ignoring such obvious data, whats the point in being brave when bravery is wrong?

7/1/2010 11:16:29 PM

^ agreed. a lot of my trailing stops hit.

not a good venture..

7/2/2010 1:09:42 PM

"Here It Comes"

http://www.youtube.com/watch?v=74hEslYb3ao

7/2/2010 3:24:59 PM

Dammit. Should have skipped the gym and done my market stuff this morning.

7/6/2010 3:15:47 PM

Well that was fun.

7/7/2010 4:01:58 PM

stopped out of FAS just before yesterday

used the $ to pick up some TYH and VMW

considering RHT

7/8/2010 11:23:38 AM

^ why is VMW having such consistent growth?

7/8/2010 11:36:15 AM

^ solid business model with real demand growth in virtualization.

picked up some RHT & CTRP

7/8/2010 2:12:11 PM

Any thoughts on SIRI?

7/8/2010 2:14:31 PM

Sold covered July 25 calls on RST for $0.80 on 6/11.
Bought them back today for $0.16
Sold covered Aug 25 calls on RST for $0.95.

7/8/2010 3:14:23 PM

Bought some BBY Jan 40 calls.

7/9/2010 2:58:56 PM

Also, dammit for not buying BP Aug 40 calls this morning.

I could have had a 30% gain in a few hours.

7/9/2010 3:26:20 PM

Also, dammit for not buying BP Aug 40 calls this morning on Friday.

FUCK

7/12/2010 12:59:50 PM

Synthetic long on BP using Oct 37 options.

7/12/2010 4:47:18 PM

Fun reminder:

On this date 3 years ago the DJI closed at 13,907.25.

That's only 3,544.23 points higher than it closed today.

7/13/2010 4:17:41 PM

The height was Oct 07, 14,200 I think.....AAPL was down over 10 points (4%) when the market was up over 1% this morning, some unsubstantiated rumor about the current iphone being recalled, possible buying opportunity

7/13/2010 7:07:22 PM

Direxion added some new 3x etfs recently:

LBJ, LHB, INDL, INDZ, SOXS, SOXL, CZM, CZI, etc..

7/14/2010 10:13:25 AM

Quote :

"Synthetic long on BP using Oct 37 options."

7/12
- sold Oct 37 puts at 4.45
- bought Oct 37 calls at 4.35

7/15
- bought Oct 37 puts at 3.55
- sold Oct 37 calls at 4.90

I ended up making $700 off of a $40 investment in 3 days.

7/15/2010 3:48:49 PM

way too much fear out there

i'm picking up some FAS, TYH, and SOXL for now

7/16/2010 3:40:28 PM