Midweek Music Moment

[youtube:http://www.youtube.com/watch?v=yrOqOWC_vWM 450 300]

There’s a better sounding version here, but WordPress wouldn’t let me embed it.

NOTE: I’ve sold or have gotten stopped out of almost all my calls…as well as the [[VIP]] puts.  I don’t think I’ve ever called VIP correctly.

The iBC tab election has come and gone…it was equal parts egregious, exciting, entertaining…but in the end it produced a worthy winner in AlphaDawgg. Thank you all for voting, participating, managing, and moderating.

Special shout-outs to Gunners, Adam, Danny (my superdelegates), as well as boca, Leonard, and everybody else who cast a vote for yours truly. You’re all welcome at my pool, anytime.

Lost amidst all the shuffle was one of my best trading days in a long while, with (unrealized) gains topping 5%, which is excellent considering that I’m 85% cash…thank you [[CHK]], [[DVN]], [[EOG]]!

Tomorrow I will be looking to get into a few earnings plays, with straddles in some old favorites such as [[CELG]], [[CROX]], [[HANS]], [[OMG]].

Others on the radar include:

• Calls in [[JWN]], [[PVH]]-(above $44.50-$45)
• Puts in [[AMLN]]
• Watching the ascending triangle in [[AVB]]
• Also liking RC’s [[LUFK]], especially if it breaks above $78

UPDATE: This should bode well for my [[STP]] calls:

8:01AM Suntech Power to supply one of the world’s largest BIPV solar systems to farm in Alsace, France (STP) 44.30 : Co announces it has signed an agreement with Hanau Energies SAS to supply a 4.5MW building integrated PV system to a farm located in Alsace, France. The project will be one of the largest BIPV installations ever built and will employ STP’s ‘Just Roof’ modules to form complete weatherproof roofs on five agricultural warehouses on a farm in the Alsace region of France. The 4.5MW installation is anticipated to be completed by January 2009 with an additional 1MW already being planned.

The elections are still going full-swing and the ‘superdelegates’ are coming out with their endorsements at a fairly steady pace (thank you Gunners & Adam & Danny!)…so today’s summary will be short & sweet, especially since I already vented/complained/whined about the moronic CLF price action.

DP Buys:

• Calls in [[STP]] after a strong first 20-30 minutes saw it break above yesterday’s highs.
• Was looking to buy puts in [[BWLD]] under $31 & [[GBX]] under $23, but neither fell that far.

DP Sells:

• [[CLF]] calls at the open, and the puts soon after. Ended with a small 3% loss and lots of frustration.
• [[DO]] was showing some weakness in the first hour – sold the calls for the best profits yet for May.
• [[EOG]] puts from the 130. straddle, which was bought last week for earnings, as the stock broke yesterday’s highs. Despite good earnings, EOG has been experiencing a steady climb instead of a high volatility move. Will look to ride the calls as long as possible…
• Half of the [[DVN]] calls for 100%, thus locking in breakeven and playing the rest of the way with the ‘house’s money’ (as hattery likes to say).

About as frustrating as the election has been so far is today’s action in [[CLF]].  Currently up over 9 points & 5%, after missing with earnings.  And it’s not like they missed by a little…analysts were expecting an EPS of $1, and they reported $0.32!  Revenues rose, but net profits fell by half from last year!  Shares fell in pre-market, as much as 5%…

I had a strangle in CLF from yesterday, with 160. Calls and 155. Puts…in light of the pre-market action and the above reported earnings, I blew out all the calls at the open.  The stock got bid up nicely yesterday, so profits were booked on those.  The frustrating part is obviously that instead of dropping, as expected, the stock is exploding higher, leaving my puts essentially worthless and making the sale of the calls look like a schmoe move. 

Fortunately, the profits from the calls almost guarantee a breakeven at worst, so overall, it could’ve been worse.  Plus, the names from yesterday are still working, including [[CHK]], [[DO]], [[DVN]], [[EOG]].  Enjoying some gains in [[STP]] calls as well.

But I just had to vent/whine about the retarded CLF action.  Perhaps this ‘election’ is getting to me…

It’s Election Day!  (We hope.)  Go Vote…but FIRST!, please review the DPeezy Campaign Platform.

And in case you don’t like me or mine, do yourself a favor and vote for ADawgg.  Thank you.

Speaking of ‘hype’…if you’re into discovering new music, you owe it to yourself to check out The Hype Machine.  They’re essentially a specialized, digg-like site that serves only music blogs.  So you end up with a bunch of music that others have blogged about, but ranked according to popularity, freshness, etc.  All-in-all, an excellent portal to a veritable plethora of amazing songs, ranging from new acoustic single(s) from the Arctic Monkeys, to Kanye West on an auto-tuner, to that song from the new AT&T ‘flowers’ commercial.  Did I mention that you can listen to them all, and then download them by following the vendor/blog links?

Oh, and in case you came here looking for stocks, I will be watching:

1. [[AUXL]], [[JWN]], [[PVH]] for calls
2. [[BWLD]], [[GBX]] for puts
3. Undecided so far on [[STP]].  Maybe a straddle until it figures out whether $40-41 will act as support or resistance?

Despite the market being down almost triple digits, I had an egregiously nice day with several longs (despite some mismanagement of a couple straddles). 

Existing calls in [[CHK]], [[DO]], [[DVN]] led the way.  [[EOG]] could’ve joined them, but I had failed to sell the puts from the straddle, so the position is just holding breakeven.  And speaking of mismanagement…also failed to take advantage of the 6% earnings run-up in [[CLF]], in which I opened a strangle this morning…

But…all-in-all, a good way to celebrate my return to this here blog/tab.  Holding these positions for now, but will look to sell at the first signs of weakness.

DP Buys:

• [[CLF]] & [[CSCO]] strangles for earnings.  I despise CSCO with every bone in my body, so really, the only reason I have that position is so that I can enjoy their demise all that much more.
• [[AMZN]] & [[VIP]] puts – both limit orders placed & filled below Friday’s lows.

DP Sells:

• Sold the [[V]] earnings straddle for a somewhat decent 12.50% profit…