06/16/2011 Intraday Watering

[StrikePrice]

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TRADE ALERT
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Bought July 130 calls at 1.17. Interesting note: They are higher than they were when I sold them this morning when the S&P was trading higher.

Anyone want to take a guess why that is? (I know the answer)

LOL,my calls are higher too. Umm...volatility?

[Cobra]

normally, the rebound should fail. the reasoning is till you earth people have to conform the law of inertia.

[Anaconda]

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TRADE ALERT
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Bought July 130 calls at 1.17. Interesting note: They are higher than they were when I sold them this morning when the S&P was trading higher.

Anyone want to take a guess why that is? (I know the answer)

...perhaps because, like you, most traders are seeing the overwhelmingly contrarian bullish signals and buying calls? We have yet to see the panic set in. I still hear far too many calls for why this is the time to buy the dip again. With the $ reversing and Europe/Japan imploding, why would you bet on a turn around? I see a possible temp. one, but nothing sustainable. Just sayin'...
Good luck

[cletus]

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TRADE ALERT
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Bought July 130 calls at 1.17. Interesting note: They are higher than they were when I sold them this morning when the S&P was trading higher.

Anyone want to take a guess why that is? (I know the answer)

LOL,my calls are higher too. Umm...volatility?

Yes, but in reality it is simply high demand for out of the money calls.

[progruss]

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TRADE ALERT
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Bought July 130 calls at 1.17. Interesting note: They are higher than they were when I sold them this morning when the S&P was trading higher.

Anyone want to take a guess why that is? (I know the answer)

I'll guess because I'm curious to hear the answer! A) OpEx or B) Big buyer ate up the bids c) other: QE3. etc

[cletus]

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TRADE ALERT
****************

Bought July 130 calls at 1.17. Interesting note: They are higher than they were when I sold them this morning when the S&P was trading higher.

Anyone want to take a guess why that is? (I know the answer)

...perhaps because, like you, most traders are seeing the overwhelmingly contrarian bullish signals and buying calls? We have yet to see the panic set in. I still hear far too many calls for why this is the time to buy the dip again. With the $ reversing and Europe/Japan imploding, why would you bet on a turn around? I see a possible temp. one, but nothing sustainable. Just sayin'...
Good luck

I may not be right but I see a good risk/reward set up I take it. Is the bottom in? I don't know. I just think it's worth a try here.

[Anaconda]

Cletus - fair enough. Good luck.

[cletus]

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TRADE ALERT
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Bought July 130 calls at 1.17. Interesting note: They are higher than they were when I sold them this morning when the S&P was trading higher.

Anyone want to take a guess why that is? (I know the answer)

I'll guess because I'm curious to hear the answer! A) OpEx or B) Big buyer ate up the bids c) other: QE3. etc

I think B is accurate. We'll see. Like I said, only in retrospect does it make sense.

[StrikePrice]

****************
TRADE ALERT
****************

Bought July 130 calls at 1.17. Interesting note: They are higher than they were when I sold them this morning when the S&P was trading higher.

Anyone want to take a guess why that is? (I know the answer)

LOL,my calls are higher too. Umm...volatility?

Yes, but in reality it is simply high demand for out of the money calls.

Take a look at a Weekly and May 2010. This week we'll close below the 40MA, just like then. And then there was a big green rally the next week. Only to fail, like Cobra is saying, the week after that. I get the feeling many are thinking now the same will happen and we'll be in rally mode early next week.

[KENA]

Cletus...No not yet.

[pablorynx]

uh, vol just came crashing down in the pit guys

[terranmn]

guys, i appreciate, but let's don't discuss fee here anymore.

let me be honest with you: as now you know how i live my life which in some sense, miserable, so eventually there'll be a small fee (not for this board though, more likely for the report), but my intention here is to postpone such kind of thing to happen as long as possible. There's one exception though: google has shut down ad services on one of my site which means i've lost 1/3 of the visits. I've appealed not guilty which I don't hope much. I'll wait for a few days but if no improvement, then i'm afraid i'll have to go with fee based as it leaves me no choice. I must have some income (as tiny as a few hundreds) to convince my family what I'm busy everyday does worth something, hope you all could understand, after all I'm not live alone.

Support!

[pablorynx]

looks like someone who was short a lot of vol got the tap on the shoulder to cover, which is why the vix did what it did. once people figured that out, they came and offered vol down. don't think that the market trades up because of that, but just a useful tidbit in helping ya'll

[bbc]

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TRADE ALERT
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Bought July 130 calls at 1.17. Interesting note: They are higher than they were when I sold them this morning when the S&P was trading higher.

Anyone want to take a guess why that is? (I know the answer)

I'll guess because I'm curious to hear the answer! A) OpEx or B) Big buyer ate up the bids c) other: QE3. etc

Dividend

[straightarrow]

Cobra's been pretty staunch about no fee. I say a PayPal donation button on the blog so we can chip in when we have good days thanks to his great calls.

That was exactly what i was to post. Cobra, at least, let us show you our grattitude with something more than words and share with you the fruits your job help us to get.

I second that. And if that does not work then a small fee should be embraced by all who benefit from this extraordinary, and tradable, market savvy.

[jamesmith]

laoda, what are the chances of a rebound tomorrow? :roll:

[progruss]

Cobra's been pretty staunch about no fee. I say a PayPal donation button on the blog so we can chip in when we have good days thanks to his great calls.

That was exactly what i was to post. Cobra, at least, let us show you our grattitude with something more than words and share with you the fruits your job help us to get.

I second that. And if that does not work then a small fee should be embraced by all who benefit from this extraordinary, and tradable, market savvy.

I third!

[KENA]

Come you guys COBRA knows what he wants and I agree with you .Lets keep this trading and not social.To suceed your comments have to be on trading.We don't want a social web site and Cobra does not either. Lets get back to trading. Nuff said.

[Cobra]

laoda, what are the chances of a rebound tomorrow?

seasonality is not good for tomorrow. for others have to gather more evidences...

[Thunder]

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TRADE ALERT
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Bought July 130 calls at 1.17. Interesting note: They are higher than they were when I sold them this morning when the S&P was trading higher.

Anyone want to take a guess why that is? (I know the answer)

I'll guess because I'm curious to hear the answer! A) OpEx or B) Big buyer ate up the bids c) other: QE3. etc

I think B is accurate. We'll see. Like I said, only in retrospect does it make sense.

Great call CLETUS you should charge a fee as well ... !!!