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Author Topic: What I am watching as swing trades 3
TraderJones
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WOOOO HOOOOOO SJUUUUU!!!! You've been holding that baby for quite a while. AWESOME FOR YOU!!
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sju1973
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Thanks TJ. Yeah, I was hoping for a just a small gain or even break even after the market meltdown. Turns out that the company is getting bought out. I was on vacation and came back to this good news so I sold this morning.

Dude, I was in LA, Cali for a week. Hung out on Sunset strip at the Viper Room and the Whiskey a go-go. I also saw Ozzy's star on the Hollywood Walk of Fame. Awesome stuff to see for any rock n roll fan.

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TraderJones
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Sounds like an awesome vacation! AND, icing on the cake for when you got back....SWEET!!
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rajthebam
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looks like everyone here is going quite well. good for you folks. I bought some EDC yesterday which i sold for nice profit this am....very happy with that. havent been trading a lot lately.
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TraderJones
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Nice Raj! It's always nice to make a quick overnight profit.
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sju1973
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Got into TC this morning at 8.93.

YRCW is moving real good lately. Risky business, but if you would have gotten in at .15 a little over a week ago, you would be looking at 100% profit. You just never know with this one.

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AJGrano
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quote:
Originally posted by sju1973:
Got into TC this morning at 8.93.

YRCW is moving real good lately. Risky business, but if you would have gotten in at .15 a little over a week ago, you would be looking at 100% profit. You just never know with this one.

Nice pick up on TC, hopefully it'll make another one of those $8-10.50 runs it had like a month ago. I'm setting up to sell my options of APA for a nice gain, but I'm wondering what you guys think this market is gonna do in the next couple of hours? Been kinda flat since like 11am and I'm thinking it might correct a little before the end of the day....BUT I could be completely wrong (good chance lol)
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sju1973
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Thanks AJ. Yeah, I'm hoping for a run to close to 10. I'm hoping.

As far as the market for today goes, I'm not really sure. Maybe some correction this last hour. I don't have the tools or time (I trade at work) to monitor the market by minute or hour. I am mostly a swing trader. I look for market direction in days, weeks, months, etc. I usually hold a stock for at least a few days or more although I do day trade on occasion when I see the opportunity.

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AJGrano
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just sold my 2 calls of APA for a $837 gain. Could've held and squeezed out another $100, but like Jim Cramer says "nobody ever got hurt taking a profit". Still holding my 8 calls of CIEN that I bought at .39. Might dump them later today so I can get a jumpstart on the weekend! Anybody looking into anything today?
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AJGrano
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Anybody have any thoughts on Sketchers: SKX the shoe company? Its down a little today, wondering if we're gonna have another run today. My only issue with Sketchers is that it has extremely light volume. any thoughts would be greatly appreciated, thank you
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sju1973
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Actually, I feel the volume on SKX is not bad considering they only have 35.7 million outstanding shares. Very low OS. Volume of about 1/2 million today. Less shares out there to trade, volume will typically be lower than SIRI for example at 3.9 billion OS. Low OS, low float is great IMO. It's one thing I look for in a stock.
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AJGrano
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quote:
Originally posted by sju1973:
Actually, I feel the volume on SKX is not bad considering they only have 35.7 million outstanding shares. Very low OS. Volume of about 1/2 million today. Less shares out there to trade, volume will typically be lower than SIRI for example at 3.9 billion OS. Low OS, low float is great IMO. It's one thing I look for in a stock.

Thanks for bringing that to my attention. Honestly I didn't do my DD on that, it was a spurt of the moment speculation and I'm glad I didn't bother with it. I'm about to play a round of golf and see where this market goes in the next hour. Might play FAS/FAZ depending on how this report goes, but I'll probably just try to go for par instead =P good luck all!
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sju1973
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YRCW. Damn.
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AJGrano
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Wish I had got into YRCW at open but I thought that when it was up 10% but I felt like I'd be chasing it. Instead I bought more calls for CIEN for a $14 strike price....still riding free shares with that one as well. Also purchased (10) $35 calls of SKX at $1.80 each. I'm going to just keep trying to buy on these little dips because I think this rally definitely has some legs...think this is going to be another decent week guys!
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AJGrano
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Sold my 10 calls of SKX today for 2.37 each for a $535 profit after commissions.
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AJGrano
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Do you guys think its too early to get into Netflix: NFLX?
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sju1973
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YRCW is making me sick dudes. Just the thought of if I would have invested (or gambled in this case)a mere $6000 into YRCW 2 weeks ago. I would be up over $10,000 right now. That would be sweet!
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AJGrano
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quote:
Originally posted by sju1973:
YRCW is making me sick dudes. Just the thought of if I would have invested (or gambled in this case)a mere $6000 into YRCW 2 weeks ago. I would be up over $10,000 right now. That would be sweet!

Yeah for real. Honestly I feel as though with how well I'm doing with options that I'll never buy common stock again. I think the only way I will do that is for the pure spec plays just to try to maximize on gains. I've been thinking that for a few weeks now....something like..

YRCW, SRZ, SILA, ABK & SIRI for a portfolio

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AJGrano
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got 4 calls at 4.40 for NFLX. Looking for a little rebound on it tomorrow and a quick morning exit
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TraderJones
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Any spectulation on what's going to happen to SIRI guys? I'm making some $$ right now but it's laying kind of flat and the volume has dropped off a little. I still feel like it will go higher than where it's at right now but not sure how much or when it's going to top out between now and earnings, which is on 8-8. I've also heard that summer time trading and earnings are kind of lame. a lot of the big money just isn't there to push things as much as you would like. And I'm kind of seeing that with SIRI. Any opinions? I'm off doing other things during the day right now so I can't babysit this thing, so any advice would be helpful.
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AJGrano
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I am so effin' mad right now. I went to go sell my NFLX this morning for a $440 gain and right as I'm about ton confirm my trade my internet stops working! I'm soooo pissed at verizon right now so now I'm basically flat on this damn thing...problem is I was only playing it on a minor bounce so now I'm torn on whether to sell it and just lose commissions or see if it rides up a little bit. TJ I would say it depends on how much you have invested in SIRI, but I personally would hold it. I heard something like 33% of SIRI's customers or maybe sales were on the iPhone, which I think is great for them.
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rajthebam
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AJ can you explain how you buy/sell these calls and puts....i know a bit about covered calls and write them in my IRA but want to learn what you're doing with NFLX
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AJGrano
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quote:
Originally posted by AJGrano:
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.

I think thats the best way I can explain what I'm doing. I'm still new to options so I'm only dealing with call options and just taking my profits and running into something else. I mean its pretty much the same as day trading with stocks but the premiums have much bigger swings percentage wise. I only picked up NFLX yesterday because I felt it would have a small bounce this morning...which it did, but I couldn't get out of it because my internet got messed up when I was about to place the order. I'm probably going to get out of it soon because I just feel like this is like catching a falling knife.
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TraderJones
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I decided to hang on to SIRI eventhough the volume is a bit low but, that just kinda tells me that a lot of people are holding to see the outcome of the earnings report is. Although it will need some serious buying to drive this price up. I'm hoping for about $1.12-$1.15, but it could poop-out at around $1.10.....we'll see. I will probably hold through the week and maybe into early next week but probably not hold right up until the morning of earnings, unless I see some big force behind it. [Big Grin]
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Happy Valley
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Grabbed a few CTXS Aug $55 puts at 1.70 for a trade...
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Happy Valley
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Watching HT here $5.32 HOD...Earnings after the bell tomorrow...Grabbed a few Nov $5.00 calls...
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Happy Valley
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CTXS...Anybody else watching this one???Want to jump back in puts but afraid of getting stuck in the next stock they run to a 100+ P/E...
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AJGrano
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FINALLY sold my calls of NFLX today for a 440 gain. Was really getting worried it would never come back up. Too bad I didn't pick up more of it when the calls were down to like 1.80. Too bad I didn't get into Priceline PCLN yesterday...probably could've retired today haha. Thinking about flipping SKX again now
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TraderJones
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cool for you AJ! I sold my SIRI on Friday actually. I just couldn't quite tell what it was going to do but, I still made out with about $500 so it's ok I guess. I've been watching NFLX also and was hoping you still held it. Way to go. Now, what's next? Not sure what to get into.
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AJGrano
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I ended up purchasing (20) $36 calls of SKX yesterday for .90 each and then picked up another (5) $36 calls at .75 today. Probably a little early for the both, but I feel pretty good about the stock pushing towards $35-35.50 within the next week. CHK is another stock I always look at when it hits that high $20 range, but I never jump into it. Hey TJ I don't blame you for your play on SIRI, its a weird stock as in it builds up towards earnings...then releases a great earnings report and the stock dumps a little, then eventually runs again. I am thinking about going long on SIRI very soon
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AJGrano
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I'm wondering on your opinions with the direction the market is going to go with the report tomorrow. Any thoughts?
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rajthebam
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AJ - question on SKX calls - right now AUG $36 calls are selling for .65 each - you've picked up $36 calls for avg of roughly 0.85 each - Are you just looking to sell the option when it increases in value so there is no actual shares being bought or sold? you are just buying calls and selling calls when they've increased in value, correct? if thats the case, the SKX options are even cheaper right now at .65 as i said. dose that make it even sweeter to buy?
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AJGrano
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quote:
Originally posted by rajthebam:
AJ - question on SKX calls - right now AUG $36 calls are selling for .65 each - you've picked up $36 calls for avg of roughly 0.85 each - Are you just looking to sell the option when it increases in value so there is no actual shares being bought or sold? you are just buying calls and selling calls when they've increased in value, correct? if thats the case, the SKX options are even cheaper right now at .65 as i said. dose that make it even sweeter to buy?

Thats exactly what I'm doing. I'm tempted to jump in more for the .65 price but I don't want to keep dumping more and more money into the stock honestly. I've put probably more into SKX than I wanted to when I picked more up at .75 though. I still have around 30 calls of CIEN so I'm not trying to put too much more into SKX...but I feel pretty comfortable with the two stocks even though they are down today...wish I did get into the .65 instead but I didn't think they'd fall down that low.
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rajthebam
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do you know if this can be done on scottrade?
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TraderJones
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quote:
Originally posted by AJGrano:
I'm wondering on your opinions with the direction the market is going to go with the report tomorrow. Any thoughts?

I'm not quite sure where the market is going to go yet. I kind of feel like it's just floating and just on the edge of waiting for a little bad news for it to dump big time. I think we could see it start to go down towards the end of summer and down quite a bit into fall. Although I've been waiting for the next big dump for a while now and it hasen't happened, so I could be wrong.
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