Time to buy CME ... 385

Discussion in 'Stocks' started by scriabinop23, Jun 4, 2008.

  1. I figured you guys might like this one.....


    I took the 400 level as support on 6/3, based on the nice bounce it had from the previous day at that level......

    Well we all know how 6/4 went for this one, but it gave me another opportunity to average in with size....

    Yes it was oversold and due for a bounce, but todays rally is a nice surprise....

    GL to all you knife catchers out there....they do work sometimes...

    $COSTAverageMAN
     
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    #21     Jun 5, 2008

  2. Could you post your entry and exit or mark to market. I am trying to follow along the long butterfly. Is it better to get out when the 400 strike is hit or hold for theta decay. Also curious why you entered the trade. Thanks.
     
    #22     Jun 5, 2008
  3. Nicely Done $C A M
     
    #23     Jun 5, 2008
  4. Both were slightly underwater yesterday on marks. I am going to hold both through the weekend. I didn't expect to see 400 today. My stuff triggered a long on CME yesterday.
     
    #24     Jun 5, 2008
  5. I say this stock eventually gets to 220 before it will ever reach 500.


    And no, I don't want to bet on it. It's just another worthless prediction based on pnf price targets.
     
    #25     Jun 5, 2008
  6. Cutten

    Cutten

    If you feel the need to talk your position, and ask others for reassurance that you are right, then the trade probably isn't a good one. I would bail and move on - with your low conviction level, even if you are right, there's no way you'd be able to take the heat and you'll end up getting stopped out at the eventual lows.

    Time to exit.
     
    #26     Jun 6, 2008
  7. chart is busted
     
    #27     Jun 6, 2008
  8. Actually I already cut it down (my calls) to small size (my avg entry was around 410) at 402. Now I'll let it run longer term. You are right, size was too big. In the near term, I have some June 410/420 vertical calls that I'd like to 'mature' that seem to have a good chance.
     
    #28     Jun 7, 2008
  9. Out of 1/3 of my CME fly at 19.00 on spot touching 400, +6.50, marked at 18x20 currently. The calendar is marked at 11.50 mid. Holding the remaining 2/3 of the fly and the time spread.
     
    #30     Jun 12, 2008