Morning Corner 7.28.11

Open thread day...


BinT said...

'The Global Recovery Is Over': Siemens CEO

BinT said...

Container-Ship Plunge Signals U.S. Slowdown: Freight Markets

ben22 said...

anyone else trade off the 34 ema on SODA yesterday?

too easy right.....

QQQQ said...

B22, nope, wasn't on my radar :/

quadrupaled on the 26th my FXE puts bot on Monday, about the only thing on my mind lately, pretty large trade for me so was sweating a bit.

QQQQ said...

B22, DAMN!
SODA up 10%+
NICE trade!!

only holding SPXU & BAC calls now.

ben22 said...


nice job on the FXE puts, that's hot

I'm out of the SODA calls, bought yesterday at $4, sold today at $7

also sold tiny amount of LULU I picked up yesterday at .65 at .85 today

momo stocks I know....but so what, I'm trying to make money

I'm down however on several open call positions right now, minor losses and I hold some tiny shorts that I may add to today....need to see more action though

I haven't booked a losing options trade in almost three weeks now, been a good run

I made a horrible trade in Krispy Kreme D's before this run, that was my last screw up.

ben22 said...

I did miss the trade in soda's big brother


Andy T said...

Random football question for CV or anyone else who thinks they're an expert on football. If you were a GM of real football team, who would you take at receiver? Would you take Andre Johnson before Larry Fitzgerald?

ben22 said...

shopping now for some shorts today

something seems stinky here....

I don't love the tape today, expected a bigger bounce....

QQQQ said...

B22, glad ur making $$$, I want more too!!

Need to clarify my FXE trade, I didn't quadrupale my money, just the amount of contracts. bot @ 1.75ish, then 1.24ish.
sold today 2.25ish, not bad, wish I 4X my money but I'll take almost 60%, over $7K. <--- big money to me now cuz I'm not working! Still think FXE will go lower, but had to take the sure thing.

Sold my SPY calls, lost some. Should've stayed in my HOG puts, oh well, even trade. Got in/out JNPR calls yesterday look'n for a pop, no pop!, even. BAC calls... ehhh, was up almost 100% but didn't sell, cv made me do it!

ben22 said...


here's one I'm looking for a potential long trade on


QQQQ said...

NTGR, hmmm, quick glance
if it can get back above 37,
maybe go back up to 39.80ish.
gap not filled
support @ 34
great support @ 33

not sure long now?

ben22 said...

widen your chart view on NTGR and consider the price relationship now versus the all time top, look at the accumulation with the volume trend on the chart price supports since 2009 and look at how it's working support and resistance levels to base itself

it's not in a strong uptrend compared to other names, but it had a legit breakout above the 2007 high, next, you could argue that a large cup and handle (use closing prices chart) played out in 08 and 09 and the upside target is not yet met if that is the case

shorter term the stock is coming down now to the 200 sma in which case you should be able to define proper stop levels fairly easily

the stock I mentioned a few weeks ago here, QCOR

got our of there yesterday on the pop, looking for another potential entry back in there but I don't not looking so hot right at the moment

like DELL's chart....

staying ninja

ben22 said...

oh, also, if you work on the chart of NTGR as described above

look at it in log only

QQQQ said...

10 mins to go - do you know where your money's at?

B22, I see what your talking about but I'm mixed on what stocks might do because of the debt BS(like that matters). They'll prolly rally a bit when/if the deal is done... longer term though, I'm feeling a slow decline, more than we saw last good dip in June. The runup last week was empty, no strength. JMHO

ben22 said...


there was damage yesterday no doubt

I lightened longs and added a few more hedges today, not a clue what happens the next 5 days

ben22 said...

that close sucked too, as did today's wimpy bounce

traders got out early today it would seem, the only volume spikes I saw were on the downside, so more distribution today like there was yesterday

QQQQ said...

B22, no doubt, yesterday smacked some peeps into thinking which way do I go?

But, they, who?, them! did protect the 1300 price!

Hope AT has some good insight soon, said he has some free time.

ben22 said...


just a general speculation on my part but people are paralyzed by the DC BS

I get the impression a lot of people are just sitting around waiting for something to happen

talked to a teller at TD bank today, it was buzzing in there, lots of older people coming in asking if they should take out a loan "in case they dont' get their SS"

So two things

1. Obama has been effective in scaring the shit out of old people, btw, read his proposal real close to see what happens to SS

2. Obama is an asshole, and so are all the rest of them, fucking clowns, every last one of them

QQQQ said...

B22, OMG I hear ya. I'm frik'n sitting home because of the big O! They all but stopped all new payments to contractors.

Also, talked to an FAA employee again today, one of the guys that called me last week to say they were driving home because of the furlough. Well, he's still home and calls his office everyday to see what's going on... answer is always "nothing yet, we'll call you when something changes". He still calls everyday though, I would too!

If Obama wins the next election, I'm moving to Korea, wife wants to go back anyway. Prolly be better over there even if Kim Jong Ill (or what ever his crazy name is) bombs the south, at least you'd know what is going on.

QQQQ said...

I don't think this will happen to 401K and the such, but it's scary to think about it!

ben22 said...

that process will have to come in two steps, the first step is to stop all rep compensation on 401k and IRA advice, magically, this is being proposed by the Dept of Labor as we speak

the confiscation likely comes after that

AmenRa said...

Just one of those days...

Post a Comment


This blog should not be interpreted as investment advice of any kind. The authors are NOT representing themselves CTAs or CFAs or Investment/Trading Advisor of any kind. The authors may or may not trade in the markets discussed. The authors may hold positions opposite of what may by inferred by this blog.The information contained in this blog is taken from sources the authors believes to be reliable, but it is not guaranteed by the authors as to the accuracy or completeness thereof and is presented here for information purposes only. Commodity trading involves risk and is not for everyone.