Wednesday, August 4, 2010
8/4/10 Charley Varrick
If you haven't seen this film, highly recommended. There are very few films I would watch more than once- this is one of them.
Joe Don Baker played the ultimate 'heavy'- I can't think of a contemporary actor who can fill his shoes.
Bears managed to survive the day, but now they're facing worse- overnight Chinese water torture.
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I'll check it out, thanks.
ReplyDeleteI've got a dicey issue with Kendra. There's one other player on her team that is also pretty good. They all compete to see who can juggle the ball the most. (ie. kicking it with their feet, knees, etc. without the ball touching the ground.)
I've seen Kendra do it 130 times. Not bad. But now she say's she's up to 166. Her main challenger say's she's at 168. Smells fishy to me. I want to encourage her to practice and reward her for doing well, but I'm no sure how to handle this.
You guys have any ideas how I should play this?
Wow- I knew this was a dicey issue, but to stump all of us??
ReplyDeleteForget it guys. Kendra was unhappy we questioned here juggling record. I just saw her do it 201 times. Unreal.
ReplyDeleteshe's amazing bro!
ReplyDeletegoing to sell the FAZ and TYP that I picked up yesterday at the close first thing this a.m. - had a feeling initial claims would stink, again.
hopefully i will have a bit more time to trade today.
gl guys!
Hey man. Looks like it's just the 2 of us. Good earnings for PXP/HUN.
ReplyDeleteMark - that's craziness. I'm the worst at soccer. I can probably juggle about 6 times max so I understand how good she is.
ReplyDeleteYou still holding DZZ?
TOF- Yeah, still got DZZ. Was just looking at RIG. Friggin unreal. 13 bucks in 4 days.
ReplyDeleteglad I dumped at the open, looks like mr market is trying to claw its way back.
ReplyDeletehun is really running, you hold that one?
Trying to fill my GMO order @ 3.18.
ReplyDeleteHUN- Took good profits @ about 10.20. Oh well.
ReplyDeleteSD gunning for 5.17.
ReplyDeleteprofit is profit - good trade.
ReplyDeletepicking up INFA@30.55, will hold this one. think EIM vendors will start getting snapped up. bought some dec 10 30 calls as well
SD...5.17 on the button. Let's see....
ReplyDeleteAND....GONE! Got to listen to this con call this weekend.
ReplyDeleteSD- Last target is 4.46.
ReplyDeleteReally is a stock pickers market right now. Good earnings you get rewarded. Bad earnings you get Fing hammered.
ReplyDeleteINFA- Buying above that gap takes guts man. GL.
ReplyDeleteWell, China lost some ground last night so I'm not surprised at what I see today.
ReplyDeleteGMO - Down nearly 2% on just 80k shares?
T's gaining a little strength here.
ReplyDeleteJJG - Looks like Russia's crop remains on fire?
ReplyDeleteLater...
ReplyDeleteINTC - Settled with FTC for strong-arm anti trade practices, this company has done a lot of damage to the semiconductor industry.
ReplyDeleteMark- I received an email from my broker a few minutes ago. Closing in on 4.5% at no cost, and he thinks we'll hit it tomorrow or next week on a bad jobs report.
ReplyDeleteAFFY - Starting to show some life
ReplyDeleteMade another $500 trading TZA. I may have found a workable 'approach' to this sucker- will mull it over and may work it into a post.
ReplyDeleteAFFY - That's a big gap mid-June, any chance it might close???
ReplyDeleteAFFY - Lunchtime pullback. Let's see if we get a C&H and 8 break in afternoon.
ReplyDeleteYep, appears lunchtime was a pullback.
ReplyDeleteEmployment - Can anyone imagine an upside surprise in the report? It's a real stretch for me...
ReplyDeleteAFFY - Still moving up
ReplyDeleteI went long a good dose of Yamana based on where the price is in the chart, plus the good news about the higher dividend.
ReplyDeleteDive into close?
ReplyDeleteAIG - Hard to believe this thing isn't still heading into the gutter.
ReplyDeleteThe only way we're going to 'dive' is via a gap-down open tomorrow.
ReplyDeleteHowever, with the jobs report on deck, I don't think it will gap until 530 am (pst). More likely to remain flat until the announcement.
i agree with 2nd. in fact, i think there is the possibility that any weak opening will be met with buying.
ReplyDeleteI see that the upward momentum in IWM has waned during the past week. Furthermore, see that $USD is dropping (probably in expectation of a new stimulus), which is making IWM underperform S&P (a weaker $USD is good for exporters in S&P but not for small local businesses in Russell 2000).
ReplyDeleteAlso, I see that the jobless claims have jumped up to 479 this past week, which is consistent with Hussman's expectation of them climbing above 500 in the next few months as a lagged effect of the dropping ECRI WLI. Finally, I see the ^VIX is close to 20 once again. All these factors taken together suggest that now is the time to buy puts on IWM.
I just bought one January 2011 $70 put for $7.90. If IWM drops just a little by January, falling from its current $65.80 to $62, I'll already make money on this put. If IWM drops to $54.20, I'll double my money. If I had purchased instead an out-of-the-money put with a strike of $62 for $4.25, IWM would have to drop to $53.50 in order for me to double my money, and the amount doubled will be $425 as opposed to $790 with the put I had actually purchased. This is a demonstration of the fact that out-of-the-money puts give a greater percentage upside to the buyer (and a much greater absolute $$ upside) even during a 20% decline in the index, while also being much less risky (if IWM stays in place, then all out-of-the-money puts will go to 0, while my put will lose less than 50%)!
Something happened to NOT.V today -- my NOSOF position is up 17% now. I wonder if it is sustainable...
ReplyDeleteI placed a buy limit order for HNUZF at $5.80 a couple of hours (at the low of the day level), but UNG started rising and it looks like that order won't get filled today. I am surprised UNG dropped today, as the NG storage chart this year is getting further and further away (to the downside) from the NG storage level last year. Just in case, I lowered that buy limit order to $5.75, so as to make it $0.50 below my previous purchase of HNUZF at $6.25. Maybe there will be some volatility in UNG tomorrow and my order will get hit at $5.75...
ReplyDeleteI have also moved up a sell stop limit to $57 under 100 shares of MON I purchased at $50 in my trading account. Also, in my IRA account and in my children's Coverdell ESA accounts, which I have all placed fully into MON at $50, I have just placed tight sell stop orders on MON at $61. I figured that a 22% return in one month is good for a long-term account -- I have fulfilled my goal for the year and can now step back and wait for another killer opportunity.
ReplyDeleteNo sell off into close, I take that to mean a poor jobs report is already factored in.
ReplyDeleteNow hopefully it's not worse than expected.
David- 22% is a fantastic return for a year, let alone a month. I agree that you should sit back and wait- these kinds of returns have a way of dissipating if one continues to 'play.'
ReplyDeleteIt has just occurred to me that the reason MON is having a stellar month is most likely the same as the reason why JJG is having a stellar month. The 6-month lows in those two charts are separated by a couple of days, and over the past month MON has actually outperformed JJG. So I guess I did get a piece of the action, after all. :) This also means that once the weather in Russia improves, MON can slide all the way back to 50. So I have just moved up the stop on MON to $61 in my trading account as well.
ReplyDeleteMON/POT - The thought is that US farmers will receive higher than expected prices for wheat, etc. and so will be more inclined to buy fertilizer.
ReplyDeleteI've read China has begun rationing corn due to low stocks and Canada's wheat has been/was flooded.
Nice trade on MON, BTW! How'd you know about the crop surprise?
Odd how market was just barely down, but TZA up almost 3%.
ReplyDeleteNo positions, no trades, no losses.
Funny how silver and gold moved up slightly as base metals and oil moved down slightly, just noise apparently.
ReplyDeleteIt's like printing money. First HNU.to, now MAI.to NOT.v PNP.to and RBY are on a tear. Come on ECU.to, join in. Missed buying PAL while I was on leave. Oh, well can't win them all.
ReplyDeleteMy accounts are now at all time highs. Almost want to sell all and take the rest of the year off.
new post
ReplyDeleteI think if you are at all time highs its a good time to lock in some of the gains. There will always be panics to buy somewhere if you are a little patient.
ReplyDeleteI have no clue what tomorrow brings, but I'd say its the turning point...