closed out TZA +11%, FAZ +18%, TWM +11%. protect your gains! I got killed earlier when I traded by hoping the stocks would rebound and not just selling. This time around I protected my profits and cut losers like CBOU early.
kantscholar said: MS, GS, and JPM can just keep buying shares if people want to sell them. As I said on Friday, if I knew that three companies with a nearly endless pool of cash was backstopping a stock at some price, I'd love to get into that stock at that price.
It was trading around 38 a few times friday. Ample opportunity to get in. Why didn't you?
I don't by stock in companies that don't do anything. Facebook has no products of any significance. All they are is a platform for advertising that probably won't be relevant in 5 years. I've said all of that before. I also said in a post of about two weeks ago (that you redded) that the FB IPO marks the top of the "social media" boom just like the Blackstone IPO marked the top of the market there. The people running these companies know far, far more than any of us do about their own industry. The best are smart enough to sell at the top (or at least pretty close to the top).
As for the trades, people wouldn't be complaining if it went the other way. If they put in a buy order at 41, the order went pending because it already had been filled, and then FB closed at 50+ at the end of the day, everyone would be happy.
As for my investment return, I post all of my trades on here. You can track them--it's pretty easy to do. The only trades I have on right now involve CHK and XHB. The CHK position is close to even and the XHB position is up about 25% and I'll be looking to take it off with any other significant move down. How about you post some of yours (if you're making any) instead of just lurking/redding my posts/not contributing to the discussion.
Yes, I'm 3700 sharesdeep at 11.50. I'm also too stubborn to sell, I'm what you call a retarded strong hand; going down with the ship. I'll most likely have to hold for a year. hakujin said: retirebyfourty said: dang CBOU keeps going down the turlet you still have a position? :/
bingFB said: kantscholar said: I just sold Jun 16 strike covered calls for 0.84 on the shares that were put to me.
Oh, sorry, CHK. I sold May 16 strike puts last month for 44 cents. Those got put on me. I've turned around and sold Jun 16 strike covered calls for 84 cents for all of those shares. So I've picked up 1.28 in options value, which means my break-even for those CHK shares is 14.72. If CHK closes above 16 by opex in June, I'll have made 1.28 or ~7.5% in the month and a half. If CHK doesn't close above 16, then I'll go and sell Jul covered calls on those shares.
The only other open CHK position I have is short 15 strike Jun puts at 1.30.
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