(c) 2012 F. Bruce Abel
Having lost $11,000 in my trading account in 2011, I feel like a new year gives a blank sheet with ample room for New Year's Resolutions. As in the past I am reluctant to mess it up. So far my positions are hedged to some or all extent. So the daily change in value is small. Plus, being in Manila so long, I am not at all as rabid about following CNBC in live time as this was impossible due to the time difference. This is to the good.
This will be the beginning of my third year of "recent trading" I believe. I re-opened a Schwab account January, 2009, and I began again after the professional traders/investment managers proved incompetent in the crash of 2008-09.
Lots of action each year with no net profits, with one year at break-even and one year of down $13,000. In addition to the loss in 2011 mentioned above.
Nevertheless I do not feel badly, (I also have a growing law practice), considering the difficulties everyone has been having with the market. Yes, a strategy of following Cramer through the whole thing would have recouped from the "losses of 2008-2009," but I didn't have any losses in 2008-2009 as I was not in the market. My wife, however, was, and her advisors suffered along with the general market with her investments.
My trading account varied from $25,000 (first year) to $50,000, with withdrawals as a safeguard from time to time.
More and more of my trading has been "hedged," using paired trades. And less of the spur-of-the-moment variety.
Showing posts with label trading again. Show all posts
Showing posts with label trading again. Show all posts
Monday, January 9, 2012
Saturday, September 24, 2011
Mohamed A. El-Erian
This guy works for Bill Gross, the best bond market guru and manager. Mohamed is brilliant and is interviewed on CNBC when important crises are afoot.
They don’t have six weeks,” said Mohamed A. El-Erian, chief executive of Pimco, the world’s largest bond manager. He said fear had reached the very core of the 17-nation group that uses the euro currency, with the price of insurance on German debt rising substantially this week.
“The light already is flashing yellow,” Mr. El-Erian said. “They can’t allow it to flash red. You have to give people a vision of what you want the euro zone to look like.”
They don’t have six weeks,” said Mohamed A. El-Erian, chief executive of Pimco, the world’s largest bond manager. He said fear had reached the very core of the 17-nation group that uses the euro currency, with the price of insurance on German debt rising substantially this week.
“The light already is flashing yellow,” Mr. El-Erian said. “They can’t allow it to flash red. You have to give people a vision of what you want the euro zone to look like.”
Sunday, June 19, 2011
Jimmy Rogers Interviewed by Dylan Ratigan!
http://jimrogers-investments.blogspot.com/2011/06/video-greece-is-bankrupt-protect.html
[from Wikipedia] Rogers was born in Baltimore, Maryland and raised in Demopolis, Alabama.[1][3] He started in business at the age of five by selling peanuts and by picking up empty bottles that fans left behind at baseball games. He got his first job on Wall Street, at Dominick & Dominick, after graduating with a bachelor's degree from Yale University in 1964. Rogers then acquired a second BA degree in Philosophy, Politics and Economics from Balliol College, Oxford University in 1966.
In 1970, Rogers joined Arnhold and S. Bleichroder. In 1973, Rogers co-founded the Quantum Fund with George Soros. During the following 10 years, the portfolio gained 4200% while the S&P advanced about 47%.[4] The Quantum Fund was one of the first truly international funds.
[from Wikipedia] Rogers was born in Baltimore, Maryland and raised in Demopolis, Alabama.[1][3] He started in business at the age of five by selling peanuts and by picking up empty bottles that fans left behind at baseball games. He got his first job on Wall Street, at Dominick & Dominick, after graduating with a bachelor's degree from Yale University in 1964. Rogers then acquired a second BA degree in Philosophy, Politics and Economics from Balliol College, Oxford University in 1966.
In 1970, Rogers joined Arnhold and S. Bleichroder. In 1973, Rogers co-founded the Quantum Fund with George Soros. During the following 10 years, the portfolio gained 4200% while the S&P advanced about 47%.[4] The Quantum Fund was one of the first truly international funds.
Sunday, November 21, 2010
Natural Gas Guru: Search results for schuck
(c) 2010 F. Bruce Abel
Had a very enjoyable evening with Philip Schuck and Helene last night. Reading from his poetry and book. He's advising Kingsview Capital Management, 233 Broadway, NY. Phil Silverman is on board.
And from my year-ago blog:
Natural Gas Guru: Search results for schuck: "(c) 2009 F. Bruce Abel
Ah yes, Jimmy Rogers is able to do this. So have I!
Had dinner with Phillip Schuck and Abby Sunday night. Phillip has been able to do this too. Author, successful trader, farmer, sailor.
December 15, 2009
Lessons On Investing And Life
'You have to figure out what your own passions are. By following your passions, you'll never have a job. You'll just get up everyday and have a lot of fun'in GuruFocus.com"
Had a very enjoyable evening with Philip Schuck and Helene last night. Reading from his poetry and book. He's advising Kingsview Capital Management, 233 Broadway, NY. Phil Silverman is on board.
And from my year-ago blog:
Natural Gas Guru: Search results for schuck: "(c) 2009 F. Bruce Abel
Ah yes, Jimmy Rogers is able to do this. So have I!
Had dinner with Phillip Schuck and Abby Sunday night. Phillip has been able to do this too. Author, successful trader, farmer, sailor.
December 15, 2009
Lessons On Investing And Life
'You have to figure out what your own passions are. By following your passions, you'll never have a job. You'll just get up everyday and have a lot of fun'in GuruFocus.com"
Thursday, August 26, 2010
Pot Luck Redux Redux Redux
(c) 2010 F. Bruce Abel
So bad on the AAPL September 260 calls I am not even checking this week. All to get out of the August ones which I did with only losing 1/2 their value.
So bad on the AAPL September 260 calls I am not even checking this week. All to get out of the August ones which I did with only losing 1/2 their value.
Thursday, August 19, 2010
Pot Luck Redux Redux
(c) 2010 F. Bruce Abel
So I got into 10 September 260 AAPL calls at $5.50. Loss so far.
So I got into 10 September 260 AAPL calls at $5.50. Loss so far.
Tuesday, August 17, 2010
Pot Luck Redux
(c) 2010 F. Bruce Abel
Little did I know that my Friday heading "Pot Luck" might meant "POT" luck. Whereas I waited through a poor day yesterday and cleared out of my 10 260 July AAPL calls near the high today (still for a $600 loss), POT got a takeover offer and soared 33 points. Except that I sold it yesterday before the takeover, for a $4 profit. I had 50 shares of POT.
Little did I know that my Friday heading "Pot Luck" might meant "POT" luck. Whereas I waited through a poor day yesterday and cleared out of my 10 260 July AAPL calls near the high today (still for a $600 loss), POT got a takeover offer and soared 33 points. Except that I sold it yesterday before the takeover, for a $4 profit. I had 50 shares of POT.
Saturday, August 14, 2010
Pot Luck
Photo (c) 2010 Rebecca Abel WorpleWireless was slow up here in Canada Thursday. After a week or so of no trading I placed a number of orders before hours Friday morning, below the market (except for one order, mentioned below). Then wireless was slow again and the Schwab 800 number doesn't apply from Canada. So I was kept in the dark until I logged on at 2:15 am Saturday (today).
For some reason on Friday afternoon I could get on the NYT and I could see the daily pattern of the indexes on the NYT website, so I figured that I may have executed around mid-day and maybe had a profit by the end of the day.
Not exactly. I had forgotten my quickie placement of an order for 10 Apple 260 calls expiring next Friday at 1.13 (execution price). Put on due to a comment by Cramer in his Thursday night Mad Money.
My philosophy: life trumps trading. My mistakes often are my best winners. We'll see how this all pans out. My other orders. except for 50 POT, expired at the end of the day without triggering. POT does show a $15 profit.
Saturday, August 7, 2010
How to play commodities (and not get trampled) - The Globe and Mail
(c) 2010 F. Bruce Abel
Maybe it's just the clear air here in Cottage Country, but this Saturday Globe and Mail piece on the various ways to invest/trade commodities, I give high credence to. Contango, for example is explained, and its effect on return within an ETF. And since it's a Canadian newspaper I give high credence to mining discussion. Here's a snip and the link for the full article.
How to play commodities (and not get trampled) - The Globe and Mail: "The creation of commodity-based exchange-traded funds made it a lot easier for the individual investor. But pitfalls exist there, as well, because of a futures-market phenomenon known as “contango,” when the price of a futures contract exceeds the spot price of a commodity."
Maybe it's just the clear air here in Cottage Country, but this Saturday Globe and Mail piece on the various ways to invest/trade commodities, I give high credence to. Contango, for example is explained, and its effect on return within an ETF. And since it's a Canadian newspaper I give high credence to mining discussion. Here's a snip and the link for the full article.
How to play commodities (and not get trampled) - The Globe and Mail: "The creation of commodity-based exchange-traded funds made it a lot easier for the individual investor. But pitfalls exist there, as well, because of a futures-market phenomenon known as “contango,” when the price of a futures contract exceeds the spot price of a commodity."
Thursday, August 5, 2010
Procter Puts
(c) 2010 F. Bruce Abel
OK, I'm siting up here in Canada with excellent wireless link and nothing but nature sounds to disturb the Procter conference call August 3rd at 8:30 am.
Sat through the whole hour and a half. Smooth, incredibly well-done conference call. And I had boned up on the jargon (organic sales, FX).
Procter is betting on the if-come! Maybe that's always the case, I don't generally listen to their conference calls. But this reminds me of the Dirk Jagger (sp?) years. If so maybe that print at 39 during the Flash Crash wasn't so out of line.
I had bought the puts because of a deep-seated feeling that the Euro was going to be a problem and the pin-action from the Clorox, or was it Colgate, miss of last week.
From the conference call I gleaned that the Euro was not a problem. And Moeller does not "dig" hedging, so P&G glided out of Euro problem by the natural action of the market on Euros (back above 130). He did say FX and commodities would be a headwind going forward, so there's something to be learned about how their accounting works on this. Makes Procter another Enron -- pretty impossible to figure what's going on.
Yes, thank God! I made money on the puts.
OK, I'm siting up here in Canada with excellent wireless link and nothing but nature sounds to disturb the Procter conference call August 3rd at 8:30 am.
Sat through the whole hour and a half. Smooth, incredibly well-done conference call. And I had boned up on the jargon (organic sales, FX).
Procter is betting on the if-come! Maybe that's always the case, I don't generally listen to their conference calls. But this reminds me of the Dirk Jagger (sp?) years. If so maybe that print at 39 during the Flash Crash wasn't so out of line.
I had bought the puts because of a deep-seated feeling that the Euro was going to be a problem and the pin-action from the Clorox, or was it Colgate, miss of last week.
From the conference call I gleaned that the Euro was not a problem. And Moeller does not "dig" hedging, so P&G glided out of Euro problem by the natural action of the market on Euros (back above 130). He did say FX and commodities would be a headwind going forward, so there's something to be learned about how their accounting works on this. Makes Procter another Enron -- pretty impossible to figure what's going on.
Yes, thank God! I made money on the puts.
Monday, August 2, 2010
Procter Puts
Qty Change Open $ High Change Close $ Current Price Symbol Name Market Value Low Cost Basis Cost per Share P/L $ P/L $ per Share Bracket Sec Type Exp Strike Under
20 ($0.03) $0.60 ($0.25) $0.49 PG 09/18/2010 57.50 P PUT PROCTER & GAMBLE $57.50 EXP 09/18/10 $980.00 $0.49 $1,662.90 $83.14 ($682.90) ($0.34) none Opt Sep 18 '10 (47 days) $57.50 PG
Sub-Total $980.00 $1,662.90 ($682.90)
Cash $55,982.50
Total $56,962.50
8/2/2010 at 18:32 EDT
Monday, August 2, 2010
The Striking Price
MONDAY, AUGUST 2, 2010 Don't Gamble on Procter & Gamble
By STEVEN M. SEARS
MORE ARTICLES BY AUTHOR
Goldman Sachs is recommending a bearish options trade on the consumer-products giant.
GOLDMAN SACHS IS TELLING clients that shares of consumer-products giant Procter & Gamble (ticker: PG) could decline after reporting fourth-quarter earnings early Tuesday.
Already, the $61.75 stock is down slightly since the bank's influential derivatives strategists, John Marshall and Maria Grant, told clients to buy August $62.50 puts for $1.02 when the stock was at $62.70.
The bearish trade is driven by concerns that Procter & Gamble's management will release full-year guidance that falls short of what analysts expect. The company's consensus-earnings estimate is 73 cents a share, though estimates amongst the 20 analysts who follow the stock range from a low of 70 cents to a high of 78 cents.
Though the stock has already fallen, the move was likely prompted by broad investor reaction to last week's news that the U.S. economy grew less than expected, which exacerbated ongoing fears that consumer spending, which drives the economy, is declining.
These broad issues will come into sharp focus Tuesday for Procter & Gamble, which is why anyone who owns the stock and is interested in hedging the shares, or anyone who is interested in speculating on its further decline, should consider buying defensive puts.
The price of the August $62.50 puts has, however, increased to $1.94. The August $60 puts, which also could be considered, are trading at 82 cents.
If the stock price continues to decline, the August $62.50 put will increase in value. The same is true for the August $60 puts. Should the stock advance, put buyers risk losing the premium paid for the put.
Andrew Sawyer, who follows Procter & Gamble for Goldman, is concerned about the company's full-year earnings-per-share outlook because American and European growth rates are tracking slightly slower than expected, while the company seems inclined to reinvest revenue to drive growth rather than using productivity savings to boost margins.
Investors expect 9% year-over-year earnings-per-share growth, which he thinks is aggressive. He estimates a range of $3.80 to $3.95 versus a consensus estimate of $3.98.
Indeed, Procter & Gamble's year-to-date stock performance has been weak. Shares are barely changed for the year, and have declined about 1.6% in the past three months.
The implied volatility for one-month puts and calls is about 16.5%, down two points in the last month. Marshall and Grant estimate Procter & Gamble's options imply the stock price will make a 2.3% earnings day move, up or down, compared to a median 2.9% move, up or down, over the past eight quarters.
As investors are increasingly trying to gauge future-earnings potential, any company that issues disappoints earnings guidance is likely to see its stock decline. For this reason, buying puts on Procter & Gamble seems like a worthy hedge.
.Comments: steve.sears@barrons.com
http://twitter.com/smsearsBarrons
Copyright 2010 Dow Jones & Company, Inc. All Rights ReservedThis copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com
20 ($0.03) $0.60 ($0.25) $0.49 PG 09/18/2010 57.50 P PUT PROCTER & GAMBLE $57.50 EXP 09/18/10 $980.00 $0.49 $1,662.90 $83.14 ($682.90) ($0.34) none Opt Sep 18 '10 (47 days) $57.50 PG
Sub-Total $980.00 $1,662.90 ($682.90)
Cash $55,982.50
Total $56,962.50
8/2/2010 at 18:32 EDT
Monday, August 2, 2010
The Striking Price
MONDAY, AUGUST 2, 2010 Don't Gamble on Procter & Gamble
By STEVEN M. SEARS
MORE ARTICLES BY AUTHOR
Goldman Sachs is recommending a bearish options trade on the consumer-products giant.
GOLDMAN SACHS IS TELLING clients that shares of consumer-products giant Procter & Gamble (ticker: PG) could decline after reporting fourth-quarter earnings early Tuesday.
Already, the $61.75 stock is down slightly since the bank's influential derivatives strategists, John Marshall and Maria Grant, told clients to buy August $62.50 puts for $1.02 when the stock was at $62.70.
The bearish trade is driven by concerns that Procter & Gamble's management will release full-year guidance that falls short of what analysts expect. The company's consensus-earnings estimate is 73 cents a share, though estimates amongst the 20 analysts who follow the stock range from a low of 70 cents to a high of 78 cents.
Though the stock has already fallen, the move was likely prompted by broad investor reaction to last week's news that the U.S. economy grew less than expected, which exacerbated ongoing fears that consumer spending, which drives the economy, is declining.
These broad issues will come into sharp focus Tuesday for Procter & Gamble, which is why anyone who owns the stock and is interested in hedging the shares, or anyone who is interested in speculating on its further decline, should consider buying defensive puts.
The price of the August $62.50 puts has, however, increased to $1.94. The August $60 puts, which also could be considered, are trading at 82 cents.
If the stock price continues to decline, the August $62.50 put will increase in value. The same is true for the August $60 puts. Should the stock advance, put buyers risk losing the premium paid for the put.
Andrew Sawyer, who follows Procter & Gamble for Goldman, is concerned about the company's full-year earnings-per-share outlook because American and European growth rates are tracking slightly slower than expected, while the company seems inclined to reinvest revenue to drive growth rather than using productivity savings to boost margins.
Investors expect 9% year-over-year earnings-per-share growth, which he thinks is aggressive. He estimates a range of $3.80 to $3.95 versus a consensus estimate of $3.98.
Indeed, Procter & Gamble's year-to-date stock performance has been weak. Shares are barely changed for the year, and have declined about 1.6% in the past three months.
The implied volatility for one-month puts and calls is about 16.5%, down two points in the last month. Marshall and Grant estimate Procter & Gamble's options imply the stock price will make a 2.3% earnings day move, up or down, compared to a median 2.9% move, up or down, over the past eight quarters.
As investors are increasingly trying to gauge future-earnings potential, any company that issues disappoints earnings guidance is likely to see its stock decline. For this reason, buying puts on Procter & Gamble seems like a worthy hedge.
.Comments: steve.sears@barrons.com
http://twitter.com/smsearsBarrons
Copyright 2010 Dow Jones & Company, Inc. All Rights ReservedThis copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com
Friday, July 23, 2010
Trading Again -- Great Discipline Until it's Not
(c) 2010 F. Bruce Abel
So I keep discipline, keep discipline, keep discipline, day after day. Then at 3:55 pm word goes out over the wire and on CNBC that the SEC is investigating the GS settlement. Immediate plunge in GS to 244 or so. I buy 10 240 August puts @ $3.10 (things were moving so fast that I put the order in @ $3.30).
When the dust settles the news turns out to be, if anything, favorable to GS, being the result of a Republican congressman's inquiry to the SEC Inspector General.
Today the disciplined thing to do was exit as delicately as possible, which I did this morning @$2.62.
You can do the math. Ayyyyyyye!
So I keep discipline, keep discipline, keep discipline, day after day. Then at 3:55 pm word goes out over the wire and on CNBC that the SEC is investigating the GS settlement. Immediate plunge in GS to 244 or so. I buy 10 240 August puts @ $3.10 (things were moving so fast that I put the order in @ $3.30).
When the dust settles the news turns out to be, if anything, favorable to GS, being the result of a Republican congressman's inquiry to the SEC Inspector General.
Today the disciplined thing to do was exit as delicately as possible, which I did this morning @$2.62.
You can do the math. Ayyyyyyye!
Wednesday, June 30, 2010
Natural Gas Guru: Cramer's List From Three Weeks Ago (June 6th)
(c) 2010 F. Bruce Abel
Here's the Cramer list mentioned in my just-previous blog "Cramer is Good -- Until He's Not."
Remember, he said "Stay out of the market until this list has been satisfied."
Natural Gas Guru: Cramer Yesterday: "These six things (was four things last Wednesday, see my earlier blog) must occur before we should buy common stocks again:
1. fine print on financial regulation
2. Spanish bank stabilization
3. lower unemployment
4. Oil Spill resolution
5. confirmation of China's soft landing
6. Euro holds"
Here's the Cramer list mentioned in my just-previous blog "Cramer is Good -- Until He's Not."
Remember, he said "Stay out of the market until this list has been satisfied."
Natural Gas Guru: Cramer Yesterday: "These six things (was four things last Wednesday, see my earlier blog) must occur before we should buy common stocks again:
1. fine print on financial regulation
2. Spanish bank stabilization
3. lower unemployment
4. Oil Spill resolution
5. confirmation of China's soft landing
6. Euro holds"
Tuesday, June 29, 2010
Cramer's Good -- Until He's Not
(c) 2010 F. Bruce Abel
Lost another $1100 followng Cramer from last week. In the teeth of his sweeping "list" of three weeks ago he got edgy to recommend specific buys again and began saying that each bad item in his list of (bat-on-the-shoulder musts) was getting so good that he was taking it off the list. Then last week he had specific Apple-related stocks that the money managers would "be desperate to load up on before June 30" and other one other that had doubled in the year. Now in fact it looks like the money managers are desperate not to show any stocks being held June 30th. We'll see after tomorrow's close. But I'm out of three stocks I bought, for a loss of $1100. I switched my Procter July puts into Augusts, but I'm behind on them too, even after this down day today. But my thinking on Procter is independent from what happened in China or Europe this week. I'm sticky wicket. (phonetic)
Cramer's gotten too unbalanced. Maybe he's been away from money management too long. Or maybe he misses his "princess" or whatever he called his wife when they were (trading) together. She saved his bacon more than once in a trading crash crisis, by his own admission.
Having said the above, Cramer is still awesome. Just human, that's all.
Lost another $1100 followng Cramer from last week. In the teeth of his sweeping "list" of three weeks ago he got edgy to recommend specific buys again and began saying that each bad item in his list of (bat-on-the-shoulder musts) was getting so good that he was taking it off the list. Then last week he had specific Apple-related stocks that the money managers would "be desperate to load up on before June 30" and other one other that had doubled in the year. Now in fact it looks like the money managers are desperate not to show any stocks being held June 30th. We'll see after tomorrow's close. But I'm out of three stocks I bought, for a loss of $1100. I switched my Procter July puts into Augusts, but I'm behind on them too, even after this down day today. But my thinking on Procter is independent from what happened in China or Europe this week. I'm sticky wicket. (phonetic)
Cramer's gotten too unbalanced. Maybe he's been away from money management too long. Or maybe he misses his "princess" or whatever he called his wife when they were (trading) together. She saved his bacon more than once in a trading crash crisis, by his own admission.
Having said the above, Cramer is still awesome. Just human, that's all.
Thursday, June 24, 2010
Cramer's Mad Money - The Pajama Game (6/17/10) -- Seeking Alpha
(c) 2010 F. Bruce Abel
"Ludicrous." This concept of ludicrous "Pajama" traders is newish with Cramer. Read further. Wait just a minute! Can he be serious that there are enough of them -- I'm one -- to match the really active hedge funds that are trading off milisecond-actions?
He needs to do a lot more on this topic to fully flesh it out.
Cramer's Mad Money - The Pajama Game (6/17/10) -- Seeking Alpha: "Cramer said the 'pajama game' was responsible; traders who sit at home in their pajamas with their laptops and trade at a furious pace with the wrong information. Double and triple-leveraged ETFs only exacerbate the problem.
Cramer has spoken before about the problem of high frequency trading which now comprises 80% of trades compared to 30% 4 years ago. False information can make unsustainable rallies given the intensity of trades. For instance, traders started buying because the CurrencyShares Euro Trust (FXE) seemed strong, but the euro was stronger only because of bad news on the home front.
It doesn't help to be the voice of reason when trades are made in a flash. Unfortunately, for now at least, the fate of stocks “rests in their ludicrous hands,' said Cramer."
"Ludicrous." This concept of ludicrous "Pajama" traders is newish with Cramer. Read further. Wait just a minute! Can he be serious that there are enough of them -- I'm one -- to match the really active hedge funds that are trading off milisecond-actions?
He needs to do a lot more on this topic to fully flesh it out.
Cramer's Mad Money - The Pajama Game (6/17/10) -- Seeking Alpha: "Cramer said the 'pajama game' was responsible; traders who sit at home in their pajamas with their laptops and trade at a furious pace with the wrong information. Double and triple-leveraged ETFs only exacerbate the problem.
Cramer has spoken before about the problem of high frequency trading which now comprises 80% of trades compared to 30% 4 years ago. False information can make unsustainable rallies given the intensity of trades. For instance, traders started buying because the CurrencyShares Euro Trust (FXE) seemed strong, but the euro was stronger only because of bad news on the home front.
It doesn't help to be the voice of reason when trades are made in a flash. Unfortunately, for now at least, the fate of stocks “rests in their ludicrous hands,' said Cramer."
Wednesday, June 23, 2010
Fat Fingers
(c) 2010 F. Bruce Abel
This from a favorite blogger of mine.
http://mybesttime-mybesttime.blogspot.com/2010/06/fat-fingers.html
This from a favorite blogger of mine.
http://mybesttime-mybesttime.blogspot.com/2010/06/fat-fingers.html
Monday, June 21, 2010
I Love Meredith Whitney
(c) 2010 F. Bruce Abel
On CNBC now. I love her not just because I have puts, which will decrease because of the China thing this weekend.
And not just because she looked pretty good walking in and mounting her chair (poor taste of CNBC to show this angle).
She talks a clear book. Absolutely refreshing.
On CNBC now. I love her not just because I have puts, which will decrease because of the China thing this weekend.
And not just because she looked pretty good walking in and mounting her chair (poor taste of CNBC to show this angle).
She talks a clear book. Absolutely refreshing.
Wednesday, June 16, 2010
Time and Trade
Status Symbol Action Qty Venue Price TIF Qty Filled At Trade Type Curr Trigger Price Order # Time Sec Type
Filled PG 07/17/2010 57.50 P Buy to Open 20 SmartEx 0.36 Day 20 at 0.36 Primary 18153589 09:50 6-15-10 (EDT) Opt
Contingent PG 07/17/2010 57.50 P Sell To Close 20 SmartEx Market GTC Trailing Stop 09:50 6-15-10 (EDT) Opt
Contingent PG 07/17/2010 57.50 P Sell To Close 20 SmartEx Market GTC Profit Exit 3.36 09:50 6-15-10 (EDT) Opt
Filled AAPL 07/17/2010 250.00 P Buy to Open 1 SmartEx 8.05 Day 1 at 8.00 Primary 18151484 09:48 6-15-10 (EDT) Opt
Contingent AAPL 07/17/2010 250.00 P Sell To Close 1 SmartEx Market GTC Trailing Stop 09:48 6-15-10 (EDT) Opt
Contingent AAPL 07/17/2010 250.00 P Sell To Close 1 SmartEx Market GTC Profit Exit 11 09:48 6-15-10 (EDT) Opt
Filled PG 07/17/2010 57.50 P Buy to Open 20 SmartEx 0.36 Day 20 at 0.36 Primary 18153589 09:50 6-15-10 (EDT) Opt
Contingent PG 07/17/2010 57.50 P Sell To Close 20 SmartEx Market GTC Trailing Stop 09:50 6-15-10 (EDT) Opt
Contingent PG 07/17/2010 57.50 P Sell To Close 20 SmartEx Market GTC Profit Exit 3.36 09:50 6-15-10 (EDT) Opt
Filled AAPL 07/17/2010 250.00 P Buy to Open 1 SmartEx 8.05 Day 1 at 8.00 Primary 18151484 09:48 6-15-10 (EDT) Opt
Contingent AAPL 07/17/2010 250.00 P Sell To Close 1 SmartEx Market GTC Trailing Stop 09:48 6-15-10 (EDT) Opt
Contingent AAPL 07/17/2010 250.00 P Sell To Close 1 SmartEx Market GTC Profit Exit 11 09:48 6-15-10 (EDT) Opt
Cramer Last Night -- He's as Confused as Me
(c) 2010 F. Bruce Abel
In the morning yesterday I bought 20 more July 57 1/2 puts P&G cheaply. And 1 August AAPL put for $8. Put brackets around both purchases where I am out at certain points. Market went on up another 125 points and small losses on positions.
Here's from Cramer last night. I couldn't agree more. Of course I am "CramerII."
Mad Money Recap Nightly Recap for: Tuesday, June 15, 2010: "What makes a bad rally? It makes people make money, right? I will tell you what… it is a rally caused from being out of position… it is short sellers that got caught leaning in the wrong direction… it is almost as if the whole market is between first base and second base… meaning that the market is the base runners, the hedge funds are the base runners, the short sellers are the base runners…. and they got picked off at first… and they are now frantically caught in a run down that almost always leads to someone being out… so we get an endless rotating short squeeze.. in oil, in the banks, in tech, in discretionaries, in retail… and then that causes the whole averages to rally… but once the shorts are done being picked off… hey, I have got news for you… we have got no more reason to run… it is the a rally that stops the moment that a blast of future selling comes in… it did not come in today… it is a rally that stops the moment that the buyers just walk away… they did not walk away today."
In the morning yesterday I bought 20 more July 57 1/2 puts P&G cheaply. And 1 August AAPL put for $8. Put brackets around both purchases where I am out at certain points. Market went on up another 125 points and small losses on positions.
Here's from Cramer last night. I couldn't agree more. Of course I am "CramerII."
Mad Money Recap Nightly Recap for: Tuesday, June 15, 2010: "What makes a bad rally? It makes people make money, right? I will tell you what… it is a rally caused from being out of position… it is short sellers that got caught leaning in the wrong direction… it is almost as if the whole market is between first base and second base… meaning that the market is the base runners, the hedge funds are the base runners, the short sellers are the base runners…. and they got picked off at first… and they are now frantically caught in a run down that almost always leads to someone being out… so we get an endless rotating short squeeze.. in oil, in the banks, in tech, in discretionaries, in retail… and then that causes the whole averages to rally… but once the shorts are done being picked off… hey, I have got news for you… we have got no more reason to run… it is the a rally that stops the moment that a blast of future selling comes in… it did not come in today… it is a rally that stops the moment that the buyers just walk away… they did not walk away today."
Tuesday, June 15, 2010
Goodbye BBY
(c) 2010 F. Bruce Abel
Toot toot tootsie goodbye, Best buy bootsie goodbye.
Best Buy profit falls short; shares drop
8:14 am ET 06/15/2010 - MarketWatch Pulse News Bullet
NEW YORK (MarketWatch) -- Best BUY Co. , the largest U.S. electronics retailer, said that its fiscal first-quarter profit rose to $155 million from $153 million a year earlier. Per-share profit was unchanged at 36 cents. Sales in the quarter ended May 29 climbed to $10.8 billion from $10.1 billion. The company kept its full-year profit of $3.45 to $3.60 a share. Analysts, on average, estimated Best Buy to earn 50 cents a share in the first quarter and $3.50 for the year, according to FactSet. 'While our financial results in the fiscal first quarter were below expectations, we remain confident that the strategic investments we are making will deliver more robust connected solutions for customers and support increased margin expansion during the fiscal year,' said Jim Muehlbauer, Best Buy's chief financial officer. 'Best Buy shares fell 6% in pre-market trading.
Toot toot tootsie goodbye, Best buy bootsie goodbye.
Best Buy profit falls short; shares drop
8:14 am ET 06/15/2010 - MarketWatch Pulse News Bullet
NEW YORK (MarketWatch) -- Best BUY Co. , the largest U.S. electronics retailer, said that its fiscal first-quarter profit rose to $155 million from $153 million a year earlier. Per-share profit was unchanged at 36 cents. Sales in the quarter ended May 29 climbed to $10.8 billion from $10.1 billion. The company kept its full-year profit of $3.45 to $3.60 a share. Analysts, on average, estimated Best Buy to earn 50 cents a share in the first quarter and $3.50 for the year, according to FactSet. 'While our financial results in the fiscal first quarter were below expectations, we remain confident that the strategic investments we are making will deliver more robust connected solutions for customers and support increased margin expansion during the fiscal year,' said Jim Muehlbauer, Best Buy's chief financial officer. 'Best Buy shares fell 6% in pre-market trading.
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