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Author Topic: What I am watching as swing trades 3
AJGrano
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I hope my BIDU works out...I'm thinking about dumping a lot into FAZ in the beginning of the week.
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TraderJones
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YIPPIE!! SIRI is up! moved from neutral to BUY!!
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TraderJones
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LOTS of good news for SIRI.....Subscriber base grew 6% , revenues are up, ALL IS UP!
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TraderJones
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YRCW down to .10....WOW! Sorry Raj, I really hope you bailed on this quite a while ago.
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AJGrano
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Wondering what your thoughts on a FAZ entry point of around $17? Thinking the bears will come back out later in the week...
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TraderJones
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Sometimes I think you really gotta know the market quite well AJ. FAS AND FAZ can be so stinkin volitle, they can be somewhat of a gamble. I've made money on them before, but it was usually on a one day kind of thing or when the market was more stable. And God knows I've lost on them before too. Overall I don't think the market is very stable....one day it's up 150 next day it's down 250 and tanking. That's my best advice, just be careful bro.
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AJGrano
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yeah I feel ya on that. I'm hesitant to enter but I feel that 17 is a decent entry point. When all is said and done all it really is is a gamble, but I'm wondering if the market has a little set back later in the day or tomorrow with out yesterday turned out. I'm starting to get nervous about my BIDU...my break-even point is 72 even, kinda wish I bought another option yesterday when they were around 1.65 for the $70 strike price
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AJGrano
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yeah I feel ya on that. I'm hesitant to enter but I feel that 17 is a decent entry point. When all is said and done all it really is is a gamble, but I'm wondering if the market has a little set back later in the day or tomorrow with out yesterday turned out. I'm starting to get nervous about my BIDU...my break-even point is 72 even, kinda wish I bought another option yesterday when they were around 1.65 for the $70 strike price
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TraderJones
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Well AJ, I hope you didn't get into FAZ at 17. The market sure took a turn up didn't it?? I've had the feeling lately that it has bottomed out and it might just start to swing up. Although just as I say that watch it tank tomorow. we will see I guess.
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AJGrano
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Nope I didn't get into it, thank god. My BIDU looks good right now tho, hoping they get atleast to the 76 mark before the 17th. REALLY REALLY wish I had bought atleast another 1 or 2 calls with a 1.65 premium yesterday. Just wondering if I want to hold next week though. A lot of people I talk to are still very bearish. I personally think a lot of stocks are oversold right now. I'm thinking about shorting RIMM maybe? I don't see that being more than a $25-30 stock within 6 months. Been watching CIEN, CHK, VG, VOD, TC, FCX, MMM. Not necessarily as swing trades but atleast looking for a few bottoms or a long position.
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TraderJones
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Well that's good you didn't get into FAZ. I just sold my SIRI at $1.01, made about $400, so I'm happy about that. I'm going to try to catch it again when/if it dips back down and may ride it till earnings, which I believe is 8-8. Although SIRI might just keep riding up, not quite sure. It was just nice to finally make a good trade and some cash to get moving again.

Yeah I've felt that a lot of stocks are oversold right now also. Like F for example. If the market stays stable I could see them at $18. I've been watching CIEN also, might be something there.

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rajthebam
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yeah i saw F dropping too? whats going on there?
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TraderJones
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I think F has just dropped along with the market. I think they are still a very strong company,and like I said, if the market starts going up a little more and stays stable, they should go up too.
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TraderJones
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Seems like a slow day for trading, everything seems a little flat. We should see some more action at the end of the day and that will probably constitute what's going to happen early and through next week. [Good Luck]
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AJGrano
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yeah everything is flat except my Bidu [Roll Eyes] I mean I guess that makes sense because of that BS Google news which really meant nothing. It also did run up almost 8% the other day too so I guess thats expected. I guess I'll just need a good week coming up, hope I get it
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TraderJones
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Well, I bought F at $11.11 today, now at $11.32 in aftermarket. Bought SIRI again at .955, now at .97 aftermarket. GOOOO F'N SIRI!!! hehe. [Big Grin]
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AJGrano
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hey guys I wanted to get some input from you. I have 3 calls for BIDU with a break even point at $72. currently the price is at 74.50....meaning thats a $750 profit. Do you guys think I should take it off the counter or should I wait until thursday after google reports earnings, I'm hoping that theres news basically saying how google is not doing any business in china. Problem is my expiration on my options is on the 17th. Just wanted to get your opinions because its either take that profit....but for every $1 the stock goes up I make $300 so it seems like a big reward/little risk ratio. thanks for any input
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TraderJones
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Well AJ, if I knew more about options I would probably have a better opinion, and I don't really follow BIDU. My general opinion is: If you have been holding it for quite a while and your now in the green making some decent money, I say take the cash now. And often times, relying on what earnings will do for a stock is sometimes a gamble. But, that would all be my opinion. Good luck!
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TraderJones
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Sold F at $11.72, didn't have a lot in it but made about $175. Giddie-up! Still have SIRI, needs to break over a buck to see some good action.
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TraderJones
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I still think F has a lot of potential, but when stocks surge up so much in one day the way it did today, AND...the market was so stinkin high, I feel like it all has a tendancy to have a down or flat day. Might buy it back on a dip in the near future, we'll see. [Big Grin]
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TraderJones
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Looks like I chose wisely on F, for the time being anyway. SIRI still floaty, but i'm still in the green just barely.
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AJGrano
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So I ended up selling my $2 calls of BIDU for $5.75 for a $1,125 gain...not that bad for two weeks I guess. Now wondering what else to get into...thinking about looking into options for CIEN. Wish I had got into BP when it hit that 28-30 range, huge gains in the last half hour today with that news.
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TraderJones
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Nice one AJ. I need to keep learning more about options, I know there is a lot of potential there.
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AJGrano
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Thanks TJ! Yeah I still do not fully understand options, but I feel I have a good grip on it. I just like how you can control more stock for less money and how you're protected because you only lose your initial investment or "down payment" appose to dumping in 21k into a stock where the losses are endless.

I'm trying to understand where this market is going to go honestly. I was enjoying the movement of the last two weeks but fridays sell off scared me a little bit. You guys still bearish? or do you think we just had a nice little pullback with some decent buying oppurtunities

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TraderJones
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So AJ, what was your initial investment on this $1100 gain?? As far as the market goes: I'm still not quite sure where it's going. Overall I feel like it's going to keep heading up, but like you said that friday sell-off was a little scary. BUT, with that big drop I saw it as an opportunity so I bought back into F at $11.35. fingers crossed. And I'm still in SIRI....still floating, not sure what to do there.
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AJGrano
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TJ, what I did was buy calls of BIDU with a strike price of $70. The stock was trading at about $67-68 at the time but I knew it would hit higher than $70 in a few weeks. When you buy the "option" to purchase a contract of 100 shares of the stock, you pay a premium per share. My premium for each share was $2 and I purchased 3 of those contracts...meaning I spent $600 in order to control 300 shares of stock if the stock hit $70. Since I paid $2 per share though my breakeven point was $72...anything over 72 was all profit and for every dollar the stock went above 72 I made $300 since I had 300 shares. So I when I finally sold the premium was 5.75 then subtract the 2 that I paid and that comes out to 3.75 per share times 300 shares. So basically turned that 600 into 1725. I don't think that thats typical but I read that chart pretty well and went for an out of the money call, which will always be a lot cheaper so I bought more calls for less money. I'm looking into BAC calls for August or October but I think I want more stability. I don't know why but I always felt that F was not going to move....but I also thought that when they were like $1.20 lol.
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AJGrano
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Tried to get into (2) $80 calls of APA with a 6.20 premium and then the stock literally took off and now the bid for the premium is 7.00. Wish I put it in for 6.30...could've made a quick $140...literally in minutes...ugh
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AJGrano
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Got 2 calls of APA for $6.60. Already up about $60 bucks but I think this thing is gonna jump up if they close that deal with BP to buy some of their assets for a reduced price. Only problem is that I think there is not enough open interest for the $80 strike price. If I had bought 4 calls of the $3.40 premium for the $85 strike price I'd be up around $200 bucks for about the same investment though, ugh.
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TraderJones
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Thanks a lot for the detailed information AJ. That's very helpful! eventually I'll get a grasp on this and give it a try.
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AJGrano
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No problem TJ, its the least I could do for all the knowledge you guys have given me in the past few years. We have to do this as a team, ya know!
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AJGrano
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Tempted to sell my calls I bought yesterday of APA for 8.80-9 for a 420-460 gain but greed is settling in and I think this market is gonna blow up towards the EOD. Hopefully people take Apple's earnings the right way since Apple controls so much of the Nasdaq and I just bought calls for Ciena earlier in the day. They usually do and with the way AAPL has moved today I think we'll be in for a decent green day tomorrow!
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AJGrano
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should've sold for a 560 gain but I got greedy. Apache is going to purchase BP assets, but not at a reduced rate or the assets they were originally talked about and they're also going to sell stock....great. ugh, its still a great buy for them but shareholders aren't seeing it that way and the stock pretty much lost all of todays gains within 40 mins after the close. I have plenty of time to make it back but I just hope it doesn't tank after this news.
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TraderJones
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greed's a killer ain't it?? it sure has killed me a few times. I sold F early today, wasn't quite sure what the market was going to do but, what a rebound huh??? I hardly made anything on F, but with the small $ I had in it I wasn't going to break the bank if I sold it later. Besides that I had to be gone all day so I couldn't baby-sit it all day. Still in SIRI---AWESOME BOUNCE! Hopefully on it's way up towards earnings. I think this earnings report will be better than the last time. hope so anyway. I'm fairly confindent. LET'S ROCKKKKKK!!!!! [Big Grin]
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sju1973
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Sold ATAC at 24.17. $2800 profit.
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AJGrano
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quote:
Originally posted by sju1973:
Sold ATAC at 24.17. $2800 profit.

Nice gain! How long have you been holding? I got scared about my APA when they fell almost 3% after the close with the BP deal, but I was glad to see this morning they were up almost 1%...now at even. I gotta stop getting so worked up with after-hours and pre-market, it'll drive you crazy sometimes!
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