I'm buying calls

Discussion in 'Journals' started by stock_trad3r, Jan 21, 2009.

  1. I'm still not too worried

    Ben probably has some tricks up his sleave. Markets selling off for no good reason. Stimulus passed. Geither says more needs 2 be done, which means more bailouts & buying up bad debt. We're testing support of 7900's on the dow again.
     
    #161     Feb 10, 2009
  2. how will you feel if support is busted right through?

     
    #162     Feb 10, 2009
  3. Stock Turder has revealed his true identity.

    <img src="http://blog.beliefnet.com/moviemom/What-me-worry-715605.jpg">
     
    #163     Feb 10, 2009
  4. l2tradr

    l2tradr

    Yeah, it's a great buying opportunity. Why don't you pick up a few more SPY Feb 90 calls, or the 85s? Can't lose! Firesale prices!
     
    #164     Feb 10, 2009
  5. l2tradr

    l2tradr

    What will your new "hobby" be in the next couple of weeks?
     
    #165     Feb 11, 2009
  6. The very use of the word "hobby" to describe your trading endeavors should have been a red flag, and should be for anyone else who reads this.

    <i><b>Be warned, when you don't know that you don't know, you probably shouldn't be in the trading business.</i></b>


    Years, not months or days, should be spent understanding what you don't know. When you figure out what you do know, you'll probably figure out the uncertainties.

    I've eliminated my uncertainties with statistical trading that took upwards of 3 years to create so that I know what to expect in my day to day trading. When you don't know what to expect, you don't know that you don't know.

    Losing money doesn't necessarily mean you didn't know. It says more about your timing than about what you didn't know. I've stated the timing was wrong in that you didn't pay up for an extra two months.
     
    #166     Feb 11, 2009
  7. tick, tock, tick, tock

    basket weaving?
    bird watching?
    scrap booking?

    tick, tock, tick, tock

    (I'm on pins and needles)

    I'm imagining his first words once he packs his bags from ET and appears on EliteBirder

    If I don't see a striped Po'ouli by the end of the month, I'm closing my account! I know how birds work!
     
    #167     Feb 11, 2009
  8. Mav88

    Mav88

    wow, I didn't know my hero had a journal, and it's going just as expected!

    All right people, back off and give a genius the room he needs to think
     
    #168     Feb 11, 2009
  9. As far as light at the end of the tunnel trader, I'd love for the market to go up substantially. Why? So I can sell short again. Otherwise plus or minus 4% and we're neither overbought nor oversold. We are essentially in a fair value range with neither sustained moves up nor sustained moves down. But, hey, most of the time we're in fair value ranges where random walk theory applies, but in the areas outside of fair value, I got to tell you those are worth taking large positions on. I think a rally will come towards the end of your expiration, because I'm sure you're not the only trader whose bet on that direction. I'm saying, the market will have to come in a lot for me to go long, and I'm actualy favoring the overbought side to go short.
     
    #169     Feb 11, 2009
  10. This has progressed into a very ugly situation which there is no recovery likely.

    The silver lining could be:

    150 point rally Thursday

    150 point rally Friday

    500 points of rally next week?

    that would push the dow to 8700 but 8400 would be enough for me 2 break even.

    Seeking alpha is bullish

    http://seekingalpha.com/dashboard/the_macro_view?source=headtabs
     
    #170     Feb 11, 2009