Protection

[Vanraw]

I guess I'm riding the house all the way to hell. My trailing stop triggered at32.5 and now I'm all in at 28.95.....

Fuck you bears...

[Slamz]

When the market looks like this:
   

...I just can't get excited by 300 point swings anymore. It's the new "normal". Swami Slamz' prediction for tomorrow: +250 on the DJIA. Followed by -250 on Wednesday...

[Vanraw]

Yea thats my bet too.

[Grieve]

Could do with a few more +250s and a few less -250s right now.

Today is going to depend on whether Apple blows the barn doors off or disappoints. I bought some 1 week Apple puts just in case...

[Vanraw]

Crazy shit. The market actually had a 400 point positive swing from 10,404.49 at its low to 10,825.44 at its close.

My 28.95 TNA was down and closed up 13%.

[Vanraw]

The 10/6 and 10/7 jobs data is going to have a huge impact on the market, in my opinion. If the number is god the momentum traders are going to have 2 monster days. If the number I'd bad, we could see the market dip to 9kish.

I trying to figure out how to play both sides for a win. I'm thinking of buying both TZA and TNA at the end of the trading day, and putting in traiking stops of like $1 on both. Then if the market goes either way, the down stock will sell, and the up will climb......

The data might not say anything, but it seems like the traders all sitting on needles.

Might look at options as well.

Stocks are hovering close to breakeven this morning, as Wall Street awaits a three-session onslaught of unemployment data. Already this morning, the folks at Challenger, Gray & Christmas said the number of planned layoffs at U.S. firms rose to the highest level since April 2009 last month. Specifically, employers announced 115,730 planned pink slips in September -- more than twice the total of August, and roughly three times that of September 2010. Elsewhere, investors are still bracing for the latest data from Automatic Data Processing (ADP), which should provide further clues ahead of Uncle Sam's highly anticipated nonfarm payrolls report, slated for release on Friday. Against this cautious backdrop -- and despite a rally in Europe -- futures are mixed, with the Dow Jones Industrial Average (DJIA) lingering about 15 points south of breakeven, and the broader S&P 500 Index (SPX) trading fractionally higher ahead of the bell.

[Breand]

hoping for a small bump tomorrow so i can get out of my TNA that's at 36.35 and then buy some TZA for the jobs data. wishful thinking perhaps.

[Vanraw]

I got busy with work, so didnt stage any of my grand plan's......

My TNA is up 16%, but my greed wants $40 and like a 32% gain. I think tomorrow is going to be really interesting. Of course it might just be a big yawn...

[Breand]

im thinking of getting out even right now on TNA...tho I feel like Fridays tend to be gain days...argh!

[Vanraw]

Yea I'm up 27% on my tna right now, and holding..... my trailing stop is a 14% gain... as long as euro do sent drop a bomb, tomorrow, friday should look like today. So I'm hoping for tna in the 40s. That seems to be the range now.?

[Grieve]

I dunno, depends if we're trying primarily on technicals or news (it's sure not on fundamentals). If it's technicals, we're on a series of lower highs and lower lows over the last two months:

http://finance.yahoo.com/echarts?s=%5EDJ...I;range=3m

It you were to draw trend lines, we're near the top of the range now, and will be heading back down tomorrow or Monday.

If we're trading on news...we're about due for the next batch of bad news from Greece/Europe/the banks...

(Having said all that, I'm holding my TNA and AAPL as well)

[Vanraw]

Yea, I've been looking at the down trend as well. Seems like 38ish might be a good point, but at some point the market is going to start to tren higher.... euro trash are going to get their shir togeather.

[Breand]

Just got out of TNA with a 3% gain. I SHOULD buy some TZA, but may sit out the next big move.

[Grieve]

My TNA is up 8.6%...holding for now...

[Vanraw]

My tna is up 30.72%. Of course I did take a 17% hit chasing it down......

I'm holding also. My gut is we are going to have a positive week. If I do sell I'm waiting on any tza buy. The big focus now is earnings....

[Vanraw]

Im getting really close to selling the TNA and moving to TZA. Currently up 33%. I think if TZA hits 40, Ill trigger.

It seems to me that there are only 3 surprises that the markets are waiting for.

1. A Jobs bill being passed (everyone has already priced in the fact that it isnt going to happen).
- I think this is a no show no go and its priced in. If it did pass, the market would rally.

2. Strong or weak earnings with positive or negative outlook (starts this week).
- My gut is that companies are going to have good earnings, but provide static to low outlook / expeditions moving forward.

3. Euro trash drama, specifically the Slovak vote later this week.
- Who the hell knows. Gut feelings is it will pass, but the German and french people are not happy.


SO Short term, I think we have more of the same. But at some point, perhaps this quarter, it will start to move to the positive towards 12k dow and above.

[Vanraw]

I got busy with work, so didnt stage any of my grand plan's......

My TNA is up 16%, but my greed wants $40 and like a 32% gain. I think tomorrow is going to be really interesting. Of course it might just be a big yawn...

41.50 today. S&P and DOW are both at the top of the "new" channel. Dow sitting at 11.5k but it was consistently playing with 12k and above July and August. This is where the fools game comes in (calling high an lows).

I think in the next couple of day's its the same questions. Earnings.......

My finger is on the sell key... but part of me sees TNA hitting 45 easy. Course it could be back at 38 tomorrow.

[Grieve]

I sold my TNA today. I'm fairly confident that the market is going to continue up higher, but I'm up 21% and I don't want to be too greedy. I still have plenty of long exposure to the market through my call spreads (very glad I held onto my Google spread!)

[Vanraw]

my finger has been on the sell button so many times in the past couple of day's.....

At 42.05 right now, Im up 42%.

Based on the Google news, and what I think is going to be solid Apple news (I think next week) I think the whole market is still on a up swing. BUT, and its a Big BUT, I also think we are approaching the channel highs. SO profit taking will be coming on the first bit of bad news from euro, or economy, or earnings.

In saying that I still have a conditional bracketed sell order in for 45.5 with a $3 trailing stop. So what that means now is if the market crashed, I would sell at 39.53 with a 36.32 % gain, or if 45.5 hits ill be up 56.94....

I might tighten the stop to $2 today...

[Vanraw]

Just to add to this little experiment I'm doing. My goal was take a set amount of cash, and nothing with it except buy and sell TNA and TZA with bracket sell orders. My end goal of the experiment was to double (100% gain) of the cash in 16 trades. 16 trades being an average of 5% gain compounded. After 16 trades of 5% gain = 100%, or double your money


Right now I'm at 70% of the goal with 5 trades to go....

[Grieve]

That's pretty awesome. So far I've made 3 TNA trades, and I'm up around 33% between the three of them, after taking out trading costs. So I've got a ways to catch you. Really I should have done what you did on my TNA - put in a trailing stop and let it ride.

I'm hoping to do the same thing as you (100% or more gain for my entire portfolio) through my call spreads. Right now it's all down to whether AAPL and GOOG can hold onto their gains through late Jan...

[Vanraw]

Nice, on the call spreads. I'm really interested to see how you end with that.

I should note that my "experiment" is with what I call a Playground trading account on Etrade. Sort of a high risk "if I lost it all, no big deal" account.

Each trade rolls 100% of the proceeds into the the trade. If I reach my 100%, Im going to try and start the same cycle over for another 16 trades with another 100%.......

This is like a PVP game for me. Imaging taking 7k which is what I started to process with, and going through 10 cycles of 16 trades in which the cash is doubled......

$7,000 Start
$14,000
$28,000
$56,000
$112,000
$224,000
$448,000
$896,000
$1,792,000
$3,584,000
$7,168,000

This of course will most likely never ever be successful. Meaning, I doubt it would ever happen, nor would the market volatility last long enough. Not to mention that large trades would get noticed. But its an interesting concept / game. hock:

[Grieve]

If you make it to $7m (hell, even $1m!), I will definitely start paying you for financial advice! The problem, of course, is that as the amounts get larger, the stress over each trade gets that much larger. When a 5% loss would be $50k, or $350k...yikes!

I may play along with you. I started with a lower amount for my TNA trades (around $4200), but I'll see if I can catch up. I had to pull some money out today to pay for a perfect storm of car and vet bills, though. I hope to reseed the money soon.

It's pvp for me as well - I've had that in my sig for months. I don't have time to game anymore, but I can get away with doing this stuff during the work day...

[Vanraw]

I actually bought the Samsung Galaxy 10.1 tab so I can sit at work and do all this without using the companies network or computers...... So its sits in a docking station next to me. For security I converted my etrade account to access with a RSA token....

[Vanraw]

So I changed my order. TNA went to 43.61 like the bracket, and changed the bracket order to $50 with a 1$ trailing. Basiccly saying sell for $1 under current price but just in case, let it got to 50 if Monday pops.......

If it sells at the current stop its a 44.33% gain.