I'm new to ET. Can anyone translate this for me because I have no idea what effy is trying to say?????
Given the way you have berated people in the past you might show a modicum of humility when price action has proved you wrong. If you can manage it a touch of grace in congratulating the OP on his trade would show you to be a bigger man than your posts to date would suggest.
Quote from NathanGresham: Hey genius, I sold my Aug 27.50 puts today for an over 100% gain. Not bad for holding a week. I had a substantial number. Actually I was trying to get into another housing lender(you know those mortgage co.'s that used to exist). but I will wait untill tommorrow and further studies tonight. CFC hit a low of 28.07. 57 cents off of strike. It will hit the strike this week. I have proved you wrong and this discourse is over. Nate P.S. Your a moron. No you didn't. Simply put, pun INTENDED, there were 659 new 52 week lows yesterday. CFC wasn't one of them. More importantly, every tick , every fucking tick that goes by on the tape, has a buying element. Point being, there's ALWAYS somebody on the other side of the trade. An unknown portion of that buying is the specialist. The entity most marrried to the stock. Simply put (again) he buys wholesale, sells retail. Day in, day out. Perpetually. Given yesterday's fluctuation, it's safe to assume he was an.............eh...............active participant. CBOE? Ancillary. No time constraint. Plenty of dry powder. Bulk of the damage is done. You ought to be a little less concerning about 1. Being right. 2. Proving your manhood to strangers.................and a little more concerned about extracting profit. THAT'S what you spend at the grocery store. Fantasy dollars won't cut it (without some charm). As for "beating it". clownboy twas YOU that approached me. Apparently your mama didn't verse you in talking to strangers. Pssst, this is my day job. Has been since before you were born. So much for the "end of the discourse". You can climb back into your diaper now.
The coolest of cool is GRACE under fire. Been under fire the last week or so. I'm on the surprise side, waiting to add at the opportune time. Have (14) open positions. This is the only one I write about on ET. Why? Nathan, who approached me. Finalizes the interchange, then comes back. After the fact. There's nothing to congratulate about Nathan. A "few" OTM contracts POOF, transformed into a "substantial number". Selling to close at 100% (after 5 days) has now POOF transformed to 400%. I'm waiting for him to tell me he owns an island. Humility? Mister Market's humbled me several times. This isn't one of them. To reiterate, there were 659 new 52 week lows yesterday. CFC wasn't on that list. Bulk of the damage is probably done. Market is grossly over-sold based on both A/D and H/L. And........every share is HELD somewhere. Of course, Longhorns has to put his pithy two cents in (with NO position). I'm torn. IF I wanted a shadow, why.........I'd stand in the sun, son. Yet, it's kinda flattering to have a troll groupie. Like a puppy with a wagging tail. And, I get a certain sense of satisfaction to know I'm helping him with his human interaction void (and increasing his post count).
Too bad I can't use crayons. Let's try this. Insider sales. No surprise, a sliver of capitalization, and performed in increments rather than dumped at once. Call it.........a............plan. . Sold points AGO. CEO's don't go on national media and undermine their own endeavors without another.........eh.............plan. They're not quite that noble. Mister market doesn't care about the indentity of share owners. Shares sold by whoever, are presently HELD. The more shares held by the specialist, the better. Can't be ascertained except in hindsight. Insider buying is far more meaningful than selling. Even more so when there are cash outlays rather than option flipping. IF you have any more questions, feel free to inquire.
Sold my puts yesterday as as I detected the reversal at the $25 dollar area for $3, a more than 500% gainer. Some keep their pathetic ego in the way from ever learning from anyone else. This I will not ever do. I am always learning every single day from another's insight otherwise one shouldn't be trading. That is why elitetrader is an excellent resource, lot's of fresh ideas and market insight. Some you can learn from and others you know are just plain stupid. We know who that is here. Have we learned anything from this idiot? We know who the real smart traders here on elitetrader are and you Effy aren't one of them. Get lost you lose, I win. Oh by the way I owned 73 contracts is that good enough for you genius? Please do not answer. I have been disgusted with you from the start. Come on you can't resist! TYpe some more worhtless bantor, you haven't a clue how to be "effective" in deciphering true market direction. Go read the books! You need them!
My ego? I didn't start the thread. Nor did I initially approach you. IF you sold, then you're flat. Then.........WHY are you here? Pat yourself on the back in the absence of anyone doing it for you? 500%? Yesterday it was 400%. Last week 100%. In fact, it was 100% after the first hour. Two weeks ago tommorow. 30 cents to 60 cents OTM chump change, and selling to close 3 days later at that............. same 100%. You know IF you can replicate 500% in 3 days over and over, why in 6 or 7 years you could own the entire US, proclaim yourself keeng, and command a harum of..........eh.......girls to fan you with palm leafs (or is it leaves?) and feed YOU grapes. I own ............'bout 160 books. Dating back to 1910. Human nature doesn't change. You'd be a specimen of that. Best book is the Taylor Trading Technique. Essence of floor trading. Pencil, paper, simple arithmetic, and waiting for one's mark. Circa 1950. Why it's even older than I am. Speaking of books, given your robust returns, perhaps you should entertain being an author. Obviously I read you. Lose? Perhaps. But my take is being in the preliminary stages, on the side of the ax, ready to strike. Don't confuse that with 27 1/2 or any other increments. Market direction? Thread is about CFC. Sniff, I'm starting to smell $30 (again).