Any stock traders out there?

[25psi_Elise_Killer]

Anybody work at a money manager or other buy-side firm in CA? I need to "park" my Series 65 before it expires. Please PM me if you can be of any assistance and i would be willing to compensate for your inconveniences!!!!!

[snuggles1]

the original question: are there any stock traders out there? i think the answer may be: There are fewer now >> As we put in another leg down, minus 200 bippers. Quick way to cycle out the undisciplined and long-only types!

[25psi_Elise_Killer]

I'm only down 50bps today and S&P 500 is down 148bps.

[snuggles1]

ok. 50bps is a lot for me though. i maintain a very low beta.

i've covered some shorts, most of which have worked out well. been a good week. your GLD looks higher here.

u look at LEH calls?

[25psi_Elise_Killer]

I was going to look at it, but i just woke up after a late night dyno session :P

[25psi_Elise_Killer]

Originally Posted by snuggles1

ok. 50bps is a lot for me though. i maintain a very low beta.

i've covered some shorts, most of which have worked out well. been a good week. your GLD looks higher here.

u look at LEH calls?

I actually bought some GLD @ $95 from an open order i had on.

RE: LEH, whoa, implied vols are around 200 for at the money calls.

[snuggles1]

Originally Posted by 25psi_Elise_Killer

I actually bought some GLD @ $95 from an open order i had on.

RE: LEH, whoa, implied vols are around 200 for at the money calls.

when CNBC asks (like they just did) "How low can LEH go?" its like ringing the BUY ME bell. One of the best indicators there is >> when the always-late-to-the-party talking heads ask how low it can go.

[rraicu]

I've been long C for a while. Got a few dividends so far, sold a bunch of naked short put options, a bunch have expired worthless but I have a bunch that are in the money now. Wait and see, big bet on whether or not dividends get cut. Last time all the EFP's priced in 50% cuts in dividends and they didn't happen. Thoughts?

[snuggles1]

wait, isnt C down 33% in the last 2 months alone? when u say for a while, that means what? u just ride it down? I cant take that kind of pain.

Then, your method involves wait and see by making a bet on whether or not divvies get cut? Really?

Just bc I do this as a business doesnt mean I criticize anyone else's method IF IT WORKS for them. Lotsa methods work! So the question is: does this style of investing work for you?

[25psi_Elise_Killer]

I wonder what kind of news will come out this weekend from the Fed or Bush administration regarding Fannie Mae and Freddie Mac. I'm sure they'll be diligently working on something...

[snuggles1]

Well here's news! IMB just failed!! nice!!


Friday July 11, 7:09 pm ET
By Alex Veiga, AP Business Writer
Office of Thrift Supervision steps in and closes IndyMac Bank; FDIC takes over operations

LOS ANGELES (AP) -- IndyMac Bank's assets were seized by federal regulators on Friday after succumbing to the pressures of tighter credit, tumbling home prices and rising foreclosures.

The Office of Thrift Supervision said it transferred IndyMac's operations to the Federal Deposit Insurance Corporation because it did not think the lender could meet its depositors' demands.

[25psi_Elise_Killer]

Another bank bites the dust!

[rraicu]

Originally Posted by snuggles1

wait, isnt C down 33% in the last 2 months alone? when u say for a while, that means what? u just ride it down? I cant take that kind of pain.

Then, your method involves wait and see by making a bet on whether or not divvies get cut? Really?

Just bc I do this as a business doesnt mean I criticize anyone else's method IF IT WORKS for them. Lotsa methods work! So the question is: does this style of investing work for you?

There are many things to consider but in the grand scheme valuations are quite appealing. GE yielding 4%? buy!

Regarding the divs, I meant just looking at EFP prices to see implied probability of div cuts. As an investment I like it right now. it, as a trade it depends on strategy. There are many assets that are underowned at this point in time.

Hell, just buy some xlf and call it a day.

[PatrickShim]

[25psi_Elise_Killer]

S&P 500 bounce off 1220 support levels?

[snuggles1]

Originally Posted by snuggles1

when CNBC asks (like they just did) "How low can LEH go?" its like ringing the BUY ME bell. One of the best indicators there is >> when the always-late-to-the-party talking heads ask how low it can go.

As usual, the CNBC indicator worked perfectly. On Jul 11, CNBC asked how low LEH could go. A classic buy signal. Today the $20 calls were in the money and up about 50% in a week.

(Reverse it: when they ask how HIGH a stock, e.g. GOOG, can go, that's the short indicator.)

I dont see meaningful support at 1220. How far u going back there, 25psi?? Remember, holding periods are much shorter than they were even several years ago. There was some support around 1270-80 but that didnt hold.

[rraicu]

At the negative rate of change we've had this past week we'd be at $0.00 / share in no time at all. I even heard a quote of a frustrated trader on the floor saying "why doesn't everything just go to 0 and we can start over." That's the kind of blood on the streets mentality I like to see when buying stocks.

[25psi_Elise_Killer]

just saw a minor support level @ 1220.

I guess i'm doin a LEH type of trade recently buying some FNM calls and up 75% in 2 days. Not too shabby.

For your clients, do you trade listed or OTC options?

[snuggles1]

Originally Posted by 25psi_Elise_Killer

just saw a minor support level @ 1220.

I guess i'm doin a LEH type of trade recently buying some FNM calls and up 75% in 2 days. Not too shabby.

For your clients, do you trade listed or OTC options?

I can trade any options that meet my technical screen and volume requirements. The auditors dont care either!

Funny, despite all the news I didnt even price out the FNM option chains. Me an idiot. Good work!!

[25psi_Elise_Killer]

Originally Posted by snuggles1

I can trade any options that meet my technical screen and volume requirements. The auditors dont care either!

Funny, despite all the news I didnt even price out the FNM option chains. Me an idiot. Good work!!

OTC options aren't traded/listed on any market, so they won't pop up on any of your screens. If you're trading large amounts of contracts and don't want to impact the options market with large volume, OTC is the way to go.
I.E. if you're working 1000+ contracts, you don't want to do that in the listed markets since you'll move the price too easily...