i didn't even look at your position, and i wouldn't know why you did it that way for not knowing the fundamentals behind your decision first. your explanation was very obscure, intentionally, i'm sure, to insure the illusion you were trying to create that you are smarter than me. which you're not. all i read in your post was you said you were short, but i don't recall. i wasn't really paying attention to what you'd written at the time. i was probably busy looking at charts or something stupid like that instead of focusing on you... GS has bounced a bit off 136.32, yeah, but... what was your point? what did you say? huh? what's your name again?
i'm not sure what this "covering your tracks" comment is all about, if there's one thing i don't do in my life is look backwards. if you mean i'm correcting a previous mistake, then yes, i'm capable of doing that. i think they call that learning. i'm actually closing my GS short position out to go long, just the stock. it's hit the bottom of the trendline and turned up, i don't think it will test 128 at all, more likely gap up when the treasury announces the approval of it's tarp repayment. or so that's what i've heard... it would help wall street's reputation right now, support confidence in the markets in general, and make obama and geitner appear as though they were right all along. should i SHORT PUTS? LOL.
i understand your position now. yes, i understand the 135 is the mid point. i don't need you to recite the greek alphabet. i learned it at berkeley, thanks. i hadn't even read it until just now. i was busy doing something else yesterday, like ignoring you. can you set aside an hour a day of your life to dedicate to teaching me everything you know? i don't care about the insults so much, you're just degrading yourself, not me. i would appreciate it greatly, seeing as how you're God around here. if you're going to learn, may as well learn from the best.
then STOP posting here. seriously. i keep lighting your fat ass up over and over and over and yet you come back over and over and over again... you're up 10%, on how much? because "xxx" would indicate to me you're under 1000 shares, and i've been in and out of GS four times this week, 4000 shares, 400 calls, 200 puts, and made more than three times what i'm trying to calculate you have... have you ever even been to newport beach?
i am going to assume for a moment, without having read a single one of your past posts to confirm or deny who you may or may not be, that you are somehow related to SAC, or SAC himself. again, this is purely an ignorant assumption on my part, knowingly, so flame away God, this is your chance to attack. if you are, then you've read this about SAC in businessweek, which i just read for the first time last night, curious to know something about this mysterious shark, other than what i've read about his art purchases, disgusting mansion, and generally vile reputation among, well, human beings inhabiting the planet as a greed mongering tyrant. you can't always believe what you read, and if the article's mention of SAC's charitable focus is true, then he must not be the scumbag the world portrays him. or at least, not as bad. "Of course, Cohen usually makes nice with the Street. For example, former traders and rivals say one way he built his business and his relationships with brokers was by buying secondary offerings -- when public companies decide to bring more shares to market -- on which brokers receive around 40 cents to $2 a share on a built-in sales commission. "If you take down a million shares of a secondary, you've just paid your broker $1.5 million," says a fund manager. "That's how Stevie started off paying the Street." http://www.businessweek.com/magazine/content/03_29/b3842001_mz001.htm as for giving money away to market makers, it seems SAC has "mastered" that skill as well. "In another tactic, Cohen and his core group of traders sometimes "take the Street," according to former traders. SAC buys large blocks of a particular stock through a handful of major brokers simultaneously in an attempt to clean out their inventories. Often, the big investment banks have to buy back shares on the open market to replenish the inventories they need to hold as market makers, thus causing a pop in the price. Says a former SAC trader, "Stevie can take 8 desks in 10 minutes. The more guys he has doing what he's doing, the more he can move stocks." Once the stock has risen, SAC might even sell the same shares back to the brokers, making a tidy profit. Sources familiar with SAC say the firm doesn't engage in the practice. Says Coffee: "There's nothing wrong with trying to clean out market makers to get a lot of stock quickly at a reasonable price. If a large hedge fund buys slowly, the word gets out and that drives the price up more." as for commissions, i think this is self-explnatory: "His firm routinely accounts for as much as 3% of the New York Stock Exchange's average daily trading, plus up to 1% of the NASDAQ's -- a total of at least 20 million shares a day. And while most of his rivals struggle to keep their trading costs down, "Stevie," as he's known on Wall Street, is one of the few to pay full freight. He hands over about $150 million a year in commissions to Wall Street, making him one of its 10-largest customers." but i have to ask, why would a billionaire want to give his money away? please, tell me. i'm dying to read your answers to my questions, mike. rb.
Wow, that is a dizzying intellect you have. Your assumption of my relationship to Steve Cohen is similar to your assumption that you understand put/call parity. Completely flawed. Cohen is a common surname. I have no intimate knowledge of Steve Cohen so I see know reason to attempt to answer your obscure questions. Unlike yourself, if I don't have a shred of knowledge on a subject I will openly admit it.
fair enough. you're dismissed. that's not true, but you're entitled to your opinion. in fact, i've openly admitted several times to not knowing much about options theory, and haven't really spent much time on it, i've been busy raising my kids, traveling, doing other things with my life the past ten years. i'm relearning most of what i knew 20 years ago, much in the same way SAC's history played out over his career. of course you have no association with SAC. jesus christ, you actually think a guy like that has time to waste on the likes of you or me? surely you jest. i do get dizzy sometimes, must be all the redbulls i drink in a day. i should probably stop that. i read somewhere over 400mg of caffeine in a day can cause delusions of grandeur, hallucinations, spark obsessive compulsive behaviours, fun stuff like that to make the day go by.
yes, yes i did. so my commission was one fee, rather than three separate trades at a higher cost, thus reducing my commissions significantly. it's a deal i worked out with my broker in advance, seeing as how my account is larger than the average bear. good guess, btw. here's a lollypop. http://www.21stcenturyschools.com/lollipop.jpg