PD intraday

Discussion in 'Stocks' started by john99, Jun 1, 2006.

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  1. john99


    Anyone else having fun with this one?

    Triple bottom today. Nice intraday swings, it's been a cash cow for me.

    I wish I could just short/long outright but I need the leverage of options, which is making it more difficult to capture the moves, but they are prounounced enough to still get.

    I am wondering if one doesn't have the capital to move the shares alone, would SSFs be a better route than the options?

    I haven't looked in or traded SSFs, any advice?
    <b> Moderators note: This was the original thread first post. John99 you can post your reply in the original thread again. While cleaning up the posts, this post for some technical reason could not be put in to the original thread</b>

    If you look at SSF volume you will see that they aren't meant to be day traded, or maybe not traded at all until volume picks up. The SSF on PD has a 60-70 cent spread compared to about a 3 cent spread on the stock. Obviously you can't scalp or arb SSF's. SSF's are used by some as a cheaper way to use option strategies, such as covered calls, because less margin(20%) is needed compared to buying the stock outright(25% margin for most brokers), however, I'm not sure who really trades covered calls anyways because there are better option strategies. I would suggest saving up 25k and honing the skills. There is always harmon trading if you can't wait to day trade.

    I agree PD has been a nice mover and has good correlation with its index and X (US steel). Good luck.

    There is more info on SSF's at one chicago:
  2. Kingdong


    I'm a little confused. Doesn't sound as if you traded via options, ssf, OR straight purchase & sell. How the hell has this been a cash cow for you, per your comments following your claim it is? There's no disgrace utilizing a practice account. My guess, that's what you're doing. Whatever G, it's the net, anyone can say or embellish anything. have fun
  3. Tyical reply. I knew just by putting cash cow in I would get a bunch of haters.

    THANK You to the first replier for your information.

    No I am trading my real money. The account has around 50,000 (not at all useable at once)

    What I am saying is this. I primarily watch miners, and make my moves on them. Either position or day trade (not scalping just trying to catch the moves)

    Obviously im not sitting on my yacht in monaco, but I haven't done bad.

    What I am saying is I like to increase my shares/position when I do well somewhat consistantly with the position.

    However I don't want to lock up 85,000 or even half of that on 500 shares of PD. This is why I trade options.

    THe problem with the options is the initial spread, and then of course how quickly they move.

    Where as if I was going long or shorting outright, I could wait for more confirmation and still catch a nice move.

    Where as with options not only do I have to overcome the initial spread, but they move so quickly, I am pretty much forced a market order, if I put a limit in I am sitting trying to guess the movement, and may get burned.

    This is my real money, real trading. I am just looking for the best way to cature these moves, either intraday or position size wise.

    I shouldn't have used cash cows, I knew that would draw the hate in.

    Again thank you for your reply first poster. That spread and illiquidity makes it even worse then options, so I willl stick with what I have been doing, it works, just not quite as efficient, and more potential to be burned quickly on a reversal

    When I see opportunity I don't paper trade, I go for it. I just know the way I am going about it is not as efficient as I would have liked.

    To trade 1,000 shares is 85,000 or so or split that on margin, but I have been avoiding that.

    Although with tight stops maybe utilizing the margin would be a better route then options.
  4. One further thing jackass. If I was paper trading, I wouldn't be screwing around with options or SSFs, I would be long or short period.

    The whole nature of the question is trying to find a more efficient way of capturing these moves.

    I said one thing which could be viewed as slight embelishing which was cash cow.

    Well its been profitable for me, I guess I shouldn't have used those words, too many zealot haters like you, just waiting to pounce. I am sorry I made a profit, ok? I'll try never to do it again, would that make you happy? I'll never use cash cow again, OK?

    Just looking for some simple advice, I am sorry I offended you, and you felt the need to flame me in return.

    If I was paper trading, I wouldn't need to ask the question in the first place
  5. The fact that you're airing this tells me that you're paper trading - probably successfully - and are looking for validation or a pointed critique to improve your trading.

    The only problem is that when someone does critique you, and calls you out on possibly paper trading, you retort with some nonesense and then go on - listing your account balance and explicating your trading strategy.

    Real traders don't do that. The P/L is reward enough.

  6. So this was your first post. You offer 0 advice, just hating.

    Well I've been investing in miners going on a year now, so I stare at the same watchlists every day. Some of these move in tandom espically with indexs. I haven't made money everytime, but I am in quite a few of them, which Is why I cant just throw 50k at a PD position.

    Amazing you make your first post to flame me, and then accuse me of embellishing.. All I said it has been a cash cow for me, and it has. My yacht isnt in the harbor, but in terms of percentage in my overall portfolio its done well for me.

    Why do jerkoffs like you even waste time on this forum? First post, offering nothing productive, just some hating.
  7. Kingdong


    Fader I noticed that too. Me thinks he's spinning his wheels in life, leads to spinning tales :D

  8. Well I am NOT paper trading. That is the whole point. If I was paper trading, I could screw around with endless strategies trying to figure this out, I was just asking some simple advice.

    I just don't think I did anything that deserved to be flamed.

    My account size is 50k. Wow whoop big deal. Most HELOCS I notarize on a daily basis are for a larger amount.

    I put my account size in to illustrate my issue. PD is a 85 or so stock right now, and it hovers between 80 and 100 and anywhere in between

    The point of the 50k is I could buy 1,000 using quite a bit of margin, which is something I haven't been keen to do doing.

    What I was getting at is, maybe the margin with tight stops would be a better bet than trying to capture the moves using simple long calls/puts.

    Anyway it's 1:15 am, so maybe I am grumpy. I didn't interprit my post as boasting at all, and I reacted as such.
  9. Kingdong


    Fader, read with confirmation of your conclusion. He hasn't many posts so I checked it out. Look at these excerpts from from recent. Quote: I have been unsuccessful each time I tried to trade previously, all on options. The worst part is many of the trades I was right on, just horribly wrong on the execution/timing of them. That is the worst.

    I know if I dont get at/modify/change the the traits that ADD gives me, I wont be a successful trader.

    ahem, cough (bullcrap) cough. If you're going to lie, you need to remember what you said in the first place :p
  10. Kingdong


    It's on the attention deficient thread, check it out
    #10     Jun 1, 2006
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