I agree excellent returns can be gained from multiday trades. Do you mind sharing how you configure your order, based on percent moved? maybe with a trail stop?
quick message, basically i've been following battered financial stocks: GS, BAC, C, etc. I go with long calls mainly (sometimes straddles or spreads but not often) and hold for a few days. I find mean reversion almost always happening with GS for instance. I've held GS for up to 1 week in which I ranged from being under 30% and then being patient and waiting and finally selling for about 80-100% profit. TA is important but in this market, it's any positive news that'll spark.
i'm already in about 20K on apr calls. may buy more. could make or break me, but sentiment seems strong on GS popping.
moonlightxpress / philerup : Do you know what Vega is? If not, you may as well kiss your money goodbye. philerup: "could make or break me" ... really? I'll say goodbye now because even if you win, your money management skills (ie, lack thereof) will bust you in the future.
exactlymundo , i am gambling on gs going to 140..i dont want to risk more by buying the stocks, i want to have a fixed amount at risk. thanks for your concern tho..
they want to raise more capital to repay the govt, it would be easier to raise capital if they had a good quarter, does that make sense?
of course i know what vega is. Don't hate--people like you will continue to stay in the poor house. you don't even know my trading style, so STFU. Was i asking for your advice? NO. Typical loser who can't stand other people making more than your minimum wage pathetic self. LOL.
Good luck all. Just realized why I never post on EliteTrader. Morons like MILESCFA is the reason, and I'm just too busy to deal with trolls like him/her/it. I'm out of this thread, but hope you succeed with your swing trading. It'll be much more profitable in the LT.
GS FLAT after announcing EPS (TV = GS "blowing away" earnings) I was going to say the same thing... but I didn't bother. Given philerup's attitude, I don't have much sympathy for his/her "make or break" play, which presumably broke him/her. MoonLightExpress, reading my post to y'all, I see I was curt. I apologize (I'm often "curt" trying to get people to think - and usually get the same response). Thank you for being polite about my comments and admiting you were "gambling" on the EPS. I've learned NOT to bet on EPS by buying calls (given premium - aka Vega - collapse). I have occassionally tried selling wide strangles (or Iron Condors when I feel the risk is too great). I usually do "well" picking up these "pennies" AND THEN BAMM, I get hit for a dollar. I hope I've finished picking up pennies - it too is a high risk strategy, and that is all I was trying to say in my post.