Tag Archives: C

Unloaded some more longs on this +50 points S&P500 day

By Paul | Published: November 24, 2008
S&P is up 50+ points today.  We gapped up at the open, stayed in a trading range for the day, then slowly rose up in the last hour, but only to lose a small chunk and settled at 850, again.  The volume has been low throughout the day and the internals didn’t look too good.  [...]
Posted in Stocks | Also tagged ABB, DELL, exit, options | Leave a comment

BOUGHT +2 STRANGLE C 100 DEC 08 5/2.5 CALL/PUT @1.62

By Paul | Published: November 21, 2008
Citigroup is all over the news today.  NYT:Citigroup Tries to Stop the Drop in Its Share Price and FT:Citi board locked in talks as shares dive. After failing to retake $10 earlier in the week, C share price has gone vertical.  Since Citigroup is in-play in the market this week, this is a great time [...]
Posted in Stocks | Also tagged entry, options | 1 Comment

Is the collapse of Citibank factored in the market price already?

By Paul | Published: November 21, 2008
The possible folding of Citigroup is creating another wave of panic on the market today.  As the second biggest bank in America, this is unlike the collapse of Lehman, WaMu, Fannie and Freddie.  While the previous institutions are also gigantic financial institutions and an integral part of the financial system, Citigroup is different because it’s [...]
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BOUGHT +1 C 100 NOV 08 5 CALL @3.50

By Paul | Published: November 18, 2008
Well that was fast.  This trade lasted only 36 minutes.  I shorted for $3.25 and was stopped out for $3.50.  A lost of $40 with commission.  I dumped my holding when my stop was hit this time.  No question asked. The market rallied fast in the last 20 minutes to close at 858.82 for S&P [...]
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SOLD -1 C 100 NOV 08 5 CALL @3.25

By Paul | Published: November 18, 2008
Going long haven’t been working out for me.  So I’m going to stick in a short side trade to hedge my long positions.  I chose Citibank because it’s the obvious.  It’s a financial, and it just reported a massive 20% cut to its workforce.  While that’s good news in the long run and I typically [...]
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Flip-flopping Thursday

By Paul | Published: October 23, 2008
A great close today.  Notice that we’re testing the 910/920 (S&P/SPY) resistance with significant volume in the last hour of the day.  The volume is more than the level established at the resistance. The same can be said of BAC and JPM.  C’s end-of-day volume didn’t break through.  Recall that these are the 3 banks [...]
Posted in Stocks | Also tagged BAC, JPM, market analysis | Leave a comment