Through the 10% Correction

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Aug 16, 2007 1:08 pm

Down 350 more right now.  Come on "advisors" share your ideas--share your experience!


It knifed through down 10% like hot knife through butter.


Those of you who were around in 1987--what happend on Friday after a bad Thursday?

Aug 16, 2007 1:09 pm

THIS IS GREAT FOR PROSPECTING!

Aug 16, 2007 1:37 pm

I quote DAtoo from 2:30 p.m. August 14, 2007, "I'm not bearish at all.  In fact I'm long across the board including in RIMM right now."


 So, imbecile or liar, you be the judge.

Aug 16, 2007 1:46 pm
YHWY:

I quote DAtoo from 2:30 p.m. August 14, 2007, "I'm not bearish at all.  In fact I'm long across the board including in RIMM right now."


 So, imbecile or liar, you be the judge.



I only have one position that I hold overnight in my trading account--the RIMM covered/uncovered short.  At the end of 9 out of 10 days I go home fully hedged--covering and shorting the stock dozens of times durng the day.


I use the stock to tune the strategy because I can trade odd lots.  THe stock is always more sensitive to moves than the options are and the commission on a stock trade is less than a commission on the optiions due to the OCC fee paid on options.


Right now I'm short 30 Sep 230 puts and short 2525 shares--making me net long 475 shares.  The 475 were covered at an average of 189.22 including commissions.  I'll begin putting the leg down again by selling into any rallies--such as what's going on right this moment. 

Aug 16, 2007 1:48 pm

Just so we're clear, DAtoo is long, he's short, he's in cash. Got it?

Aug 16, 2007 1:51 pm

That should be 220 puts--for those of you who are following along.  There was much more water in the 220 and the lower upside risk point is irrelevant to me.

Aug 16, 2007 1:54 pm
YHWY:

Just so we're clear, DAtoo is long, he's short, he's in cash. Got it?


A few minutes ago I reshorted 100 at 192 so now I"m net long 375--I'll short 375 before the day is over and go home flat.

Aug 16, 2007 2:00 pm
YHWY:

I quote DAtoo from 2:30 p.m. August 14, 2007, "I'm not bearish at all.  In fact I'm long across the board including in RIMM right now."


 So, imbecile or liar, you be the judge.




"Or"? Why "or"? Seems to me "AND" is the word you're looking for.

Aug 16, 2007 2:01 pm

"Or"? Why "or"? Seems to me "AND" is the word you're looking for.


 Fair enough. My mistake.