Wednesday, July 16, 2008

For Whom the "WELLS" tolls ... have you seen my ass?



Have you seen my ass?  

BOTD could have used an "inner tube floaty" today ... 

 Wells Fargo (WFC),  who always finds GOD under $26, was the excuse Mr. Market needed to FUCK the SHORTS!

  Life was "too easy" on the SHORT side, and the "too much, too quick" rule showed us again why it's a RULE. 

We took "some" recent profits in ORCL, HRB, DECK, URBN, CAT, etc  .... but not enough, we lost our ASS today! 

MUST TAKE PROFITS in 2008. 

p.s.  POTP added more puts on IBM over $126 today ... we are confident IBM will disappoint and trade lower, thus starting the next downward leg for BIG TECH.     If/when IBM rallies prior to tomorrow's EARNINGS, we will buy more puts of power.   With our large CASH is KING position, we have money to risk, and SHORT IBM is our play.   
  
SHORT BUS:  holding puts on HRB, HBC, ORCL and adding to IBM

BOTD LONGs: HK, AGU, TGT .... and for some whacked out rally monkey reason , we bought RJF today.   RJF!!!???!  .... why?  we're not sure.  we just didn't want to be like everyone else and buy UYG.   Being like everyone else caused today's short killing rally.

16 comments:

Bluedog said...

Great video; great pic! Why didn't we all just long WFC, UYG and CAL today? Lost my ass, too.

BUY ON THE DIP said...

today's rally and yesterdays recovery has been slow and deadly.

it just ticks higher, ever so slowly.... no pops, no dips, just pain.

Mike said...

Any idea when hk will settle on the dip and come back up?

BUY ON THE DIP said...

energy, oil, natgas.....all are going lower. HK just goes with the sector.

but, have faith in floyd.

its not an earnings story, or a sector story.....its a valuation play. and a strategic assets play.

HK has land leases that are more valuable than the stock reflects. stick with it.

p.s. natgas will go higher and HK will outperform.

nothappy said...

I'm down big on IBMSD, what a worthless pick.
Fuck this site!

tradertom said...

"I'm down big on IBMSD, what a worthless pick.
Fuck this site!"

STFD & STFU

-----

BOTD I was up 39% in one day with some fnm puts... today i'm down 10%... lol CRAZY MARKET

I'm still up 90% in my HBC puts though!!!

& I took profits in HK. sorry...

sara said...

when you trade using options,

when you buy a put, when you sale the put how long do you have to wait till you can use that money again ,


also if a put at 5.00 then it goes to 0 the next day , then in 3 day it does back up to 5.00. do you still have that option or did you lose it when it went to 0. ?

Anonymous said...

3 days for the transaction to clear.

tradertom said...

I hate having to wait 3 days.

Dami said...

Huge dip in HK today...
I thought it'll settle in the afternoon... Sadly it continues to tumble...

Johnny Z said...

any idea around what price it will stop and rally back up?

BUY ON THE DIP said...

natgas is getting hammered,

We bought RCL as our new HK hedge

Next buy on HK under $35. , then $29.

RJF, TGT up nicely!

Johnny Z said...

Cool thanks i will get it under35

what do you mean by "We bought RCL as our new HK hedge"

Thanks again! u Rock!

tradertom said...

Short OSTK!

Earnings tomorrow morning!

Triple top!

Weak consumer!

Even NUE ( a steel company) got hammered because of a bad outlook.

BOTD, POTP?

Johnny Z said...

Hey Guys

i wanted to get into Option but they are asking me about my finacial stuff, how much i make monthly and yearly

but im a college student any idea on what stuff to say or not say so i can get aproved?

any info will be very helpful

Thanks!

tradertom said...

ostk -16%

:)