Today was not necessary, but it is exactly what the stock market does. When sentiment gets out of whack, either way, the market place corrects the imbalance very naturally. When it’s all said and done, the sane walk away with a few pesos in their pockets, scratching their head at the mysterious and random acts of violence the market exhibits.
We crazy folk make a month’s pay in 2 hours.
I was mostly selling today, salvaging some the February premium I laid out. Other bits still fly their pride flag, like FSLR and SCTY, monsters marching together in solidarity.
I finally scaled down to a TSLA earning’s runner. I think it can keep squeezing ahead of earnings, given the float, but I am not being too greedy. I booked my 52% gain and left a small piece to keep earnings interesting.
GRPN reporting Thursday afternoon presents a rather unique situation, does it not? Given the weakness in the name, opex, and the potential for a lovely little lottery trade. Anyone who is more versed in options that is willing to chime in on this idea please do so, I am all [green] ears.
I bought FIO amidst much fanfare and strength. It farted and everyone laughed, and now it only smells and everyone walked away. I am stuck with stinky, hoping for an encore.
I closed my GS calls, it felt like a shake out.
I closed my February Z calls and salvaged a bit of premium. I still have March calls but this ugly chart may take more than a week to resolve.
I am back to about 10% cash here at the end of the day, after being a tad longer into the weekend.
Top pick into March is CREE.
Elroi is still stuck in the lab. I can’t wait to see if all this CPU usage will be reflected in my electric bill. Regardless, when he comes back, it will be with one of those little green hats with a helicopter blade on top used to chop up other algo onslaughts.
http://youtu.be/yuR1rVVf358
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SCTY- I told you so last week !! Now sell or not to sell,,,,, seems like it will pop to 84 easily but who knows. I will sell before earning 2/24. What is your target or exit plan ?
If you are dabbling in February call positions, I would tighten your target to ~82.50
We’re adding you to the iBC app. Will get updated on android and iPhone soon.
A great success it is to be added to such a noble app. thanks
my GRPN calls are lottos. with the way the entire social media sector has performed post earnings (all blowing up except FB), most are affriad GRPN suffers the same fate…which is why i’m betting long. It has been crawling on the bottom of that damn wedge for about a month. It needs a trip to the top dammit (currently 12.30ish)