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      07-23-2012, 10:43 AM   #1101
Hisam135i
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Actually, I sold at 8.60 so it was closer to 20%

Waiting ATM to see if it's worth another re-entry for the week. My take is that if it's going to be a bloodbath, we're going to have to see some big moves downward. Now, all over the world we have that, but the current dip-rally is coming up on very very low volume. Friday we saw some huge volume, so I suspect that's the institutional and commercial players already getting out. Something tells me the low volume today is just a small reprieve before more bigger down days. Hrm.

On Friday the VIX futures spread had hit a 3.00 difference and the 25% spike today in spot vix brought the spread down to as low as 0.65! The closest we have been to getting towards a hint of crisis like last year.

Update: currently day trading this baby till I'm resolute on a position at the close. But I just purchased it at 8.20 and it's 8.30 ATM. Might sell at a whim.
I definitely foresee more downward movement this week. Look at stochastic on daily chart for SPX, a strong momentum shift just occurred and we have a long way to fall!
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      07-23-2012, 11:23 AM   #1102
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I definitely foresee more downward movement this week. Look at stochastic on daily chart for SPX, a strong momentum shift just occurred and we have a long way to fall!
Man o man is it ripe for the taking today! Just sold that UVXY position at 8.38. A cool 2.2% bonus in an hour. time to wait for this hint to reset lower, but so far it's cycled twice from 8.2 - 8.4 in the past hour or so. I wonder what the next cycle is going to bring. Sam you enjoying the market tides today? And I will get to you on that PM about VIX. Was out for the weekend!
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      07-23-2012, 11:31 AM   #1103
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Man o man is it ripe for the taking today! Just sold that UVXY position at 8.38. A cool 2.2% bonus in an hour. time to wait for this hint to reset lower, but so far it's cycled twice from 8.2 - 8.4 in the past hour or so. I wonder what the next cycle is going to bring. Sam you enjoying the market tides today? And I will get to you on that PM about VIX. Was out for the weekend!
Sounds good! hope you had a good weekend and its been a great morning Just have been toying with Citi bank all morning switching between puts and calls, taking 4-5 cents each way
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      07-23-2012, 11:38 AM   #1104
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Sounds good! hope you had a good weekend and its been a great morning Just have been toying with Citi bank all morning switching between puts and calls, taking 4-5 cents each way
What's the 4-5 cents in percentages?
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      07-23-2012, 11:42 AM   #1105
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What's the 4-5 cents in percentages?
Around 3-5% each time of what I have invested in the trade usually do around 1-3 trades a day

Update.. Placed an order on JPM for 200 contracts Calls @ 33 strike expiring on 27th of July, when it was $1.28. Wasn't enough volume, so i was only able to pick up 11 out of the 200 contracts. Then the price jumped to 1.39.. that was depressing. Sold the 11 contracts barely getting a nice profit, but still a profit I guess
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      07-23-2012, 12:02 PM   #1106
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Around 3-5% each time of what I have invested in the trade usually do around 1-3 trades a day
You don't need to learn VIX
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      07-23-2012, 12:11 PM   #1107
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You don't need to learn VIX
hey the more strategies the better hahaha
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      07-23-2012, 03:09 PM   #1108
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Haha well Sam go take a look at the CBOE website and find the vix futures page. In the morning when spot vix spiked, the premium reduced from 3.00 to only 0.6. However, it's now 1.81 and that typically favors XIV over UVXY more for tmr. All in all, I made 8 trades today with a 100% win rate, so I can't complain! Took a small XIV position for tmr, I'm thinking we get a flat to small up day, maybe intraday reverse later. Btw, GDP this Friday. It's going to be around 1% IMO, but est. are out for 1.7%. The win for that trade will be whether it turns into a good trade because of Tuesday's FOMC, or just plain ugly all together.
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      07-23-2012, 10:46 PM   #1109
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20th: descending triangle on the 15
23rd: bear flag

conclusion: chances higher of more down ahead.. but what do i know? i wish i could participate guys. CFA is kicking my ass
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      07-24-2012, 03:54 PM   #1110
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Went short UVXY 3 minutes before the markets closed. AAPL missing earnings has made me 7% already. Let's see what tomorrows trading brings, the WSJ rumour is already factored in. I remember when they said the fed was on the cusp of buying MBS's for the June and July meetings. Ha.
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      07-24-2012, 04:47 PM   #1111
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Went short UVXY 3 minutes before the markets closed. AAPL missing earnings has made me 7% already. Let's see what tomorrows trading brings, the WSJ rumour is already factored in. I remember when they said the fed was on the cusp of buying MBS's for the June and July meetings. Ha.
Nice! I made my money today off Citi and JPM puts. Got rid of everything by around 10am pacific time, was a nice morning!
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      07-24-2012, 07:56 PM   #1112
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I'm still in Aug 1335 PUT- SPX x 4 contracts
End of the week, I'll be looking at selling and rebuying Sept. Expiration's.
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      07-24-2012, 09:09 PM   #1113
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I'm still in Aug 1335 PUT- SPX x 4 contracts
End of the week, I'll be looking at selling and rebuying Sept. Expiration's.
Oh nice, have you been able to make some good money off those? And what's the theta like on options that far out?
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      07-25-2012, 09:22 AM   #1114
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I am not day trading my options, I just have them since I needed some downside protection on my 401k account.
I never hold my options into expiration, always buy one month out or more.
-.53 Theta as of this morning.
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      07-25-2012, 02:15 PM   #1115
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SPX been trying to break that 0.5 level at 1344 all day long. Considerable resistance up there. Now it appears to be undergoing a second rejection of the day (first one took the SPX down 12 points thereafter). This does not bode well after an AAPL earnings fall, and it appears the market has run it's course. Tomorrow should be down if this keeps up.

Update: The low volume today is intriguing.
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      07-27-2012, 09:56 AM   #1116
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Got slaughtered yesterday, we'll see how high the market gets pumped up from the news.
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      07-27-2012, 03:13 PM   #1117
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Europeans still believe in Draghins to appear and burn all the shorts! Well, that was one hell of a short squeeze, it truly was! But now that the DJIA is up over 1,000 points in a couple days on rumors.... I'm going to short this. "This time is different", I don't really think so myself.

Hope the guys here rode the wave up though? I got in XIV at 10.99, what a timed buy! I noticed today though it looked like the vix was showing the readjustment of big institutional portfolios, so we shall see. And yesterday's rally had one of the lowest professional participations of the year... Food for thought.
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      07-31-2012, 07:19 AM   #1118
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We could see new highs this year from here on with this new QE3

http://www.bloomberg.com/news/2012-0...september.html

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      07-31-2012, 03:42 PM   #1119
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We could see new highs this year from here on with this new QE3

http://www.bloomberg.com/news/2012-0...september.html

?
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      08-08-2012, 12:04 PM   #1120
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Hi guys, sorry been out of town! hows everyone doing
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      08-08-2012, 03:41 PM   #1121
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Hi guys, sorry been out of town! hows everyone doing
Pretty good myself! Today the Dow was down only -0.4 points, and I had been day trading again (been doing that for the last month). Squeezed out a 4 figure gain on a flat day. Good in my books any day!
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      08-08-2012, 06:35 PM   #1122
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Hi guys, sorry been out of town! hows everyone doing
Pretty good myself! Today the Dow was down only -0.4 points, and I had been day trading again (been doing that for the last month). Squeezed out a 4 figure gain on a flat day. Good in my books any day!
Very cool! I didn't have much time today but got a quick trade in and made $200 in about 10 seconds! haha day trading is the way to go in this market
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