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DarterBlue

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DarterBlue last won the day on January 17

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About DarterBlue

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  1. You guys are nuts. But I guess the world is made up of all types.
  2. NEW HIGHS: The S&P and NASDAQ 100 exploded to new, all-time highs at the open. Therefore, between 9:37 and 9:45 am I covered all my put option positions. My total loss on them (including $2,139.25 today) was $13,928.23. This did not prove to be a good trade and it has put me in the red for the year. But when you are wrong, the correct course of action is to take the loss. I have done so knowing I will live to fight another day. While today is a clear breakout (assuming the market hold up to the close), I am reluctant to go long at this stage for a variety of reasons and will stay on the sidelines at least for the next three trading days. If the market proves itself over this period, I may make a small long trade.
  3. I don't know what your situation is. With the market near all-time highs, I would be reluctant to do so. Better to dollar cost average in over time. But again, I don't know your situation or objectives.
  4. The stock market finished broadly higher on the day; despite this, the market is now only very mildly overbought as measured by the oscillator I use. A funny thing happened regarding my position decision criteria at the close. It is explained thus. My stop loss on the Put positions was as follows: if any of the more popular indices (DOW, S&P and NASDAQ indices) closed at an all-time high, then the positions would be closed out on the next trading day. Well, the NASDAQ 100 made an intra-day all-time high and closed at the July intra-day highs. This was not contemplated when I set up my rule. So, what do I do now? The answer is that I will close the positions Monday within the first half hour of trading with one exception. What is the exception? If the market losses more than a percent in value on any of the major indices within the first ten minutes of the trading day, I will hold the positions through lunch time and will decided based on whether the market rebounds or not whether I should still close the positions. I will post the final results of this bad trade after the close Monday assuming I close it. If it is not closed due to the market selling off, I will update the trade if and when I close it this week or on Friday if it is still open. It is clear that the market’s current bias is to the upside. When bad news is shrugged off (Amazon’s earnings miss and bad forecast) and good news cheered (announcements of progress in the China trade talks), it is a clear sign that for the short to intermediate term the market wants to go higher. Thus, in this environment, it is a losing proposition to be short. Back in late September, the market seemed to be rolling over. But that was a false signal. At the close of trade Friday, the options positions had a cumulative loss of $11,798.98. If I end up closing out no better than that, I will end up being in the red for the year. From a personal perspective that is not good given the market’s gains on the year. With that said, you win some and lose some. It is what it is.
  5. It is very competitive. It helps if you know someone on the inside. If you don't, then you need to sell yourself. Be persistent in pursuing an interview and if and when you get one, make sure you do your homework and be prepared to ask questions that demonstrate you have done it. Good luck! A long time ago, I was your age once.
  6. Stocks closed out the week on a down note after threatening the July all-time highs made by several of the headline indices. The market opened slightly lower then sold off into the lunch hour when most of the indices bottomed at about 12:30 pm. However, the DOW did not hold its bottoming attempt and actually closed at day lows while the other indices cut their losses by up to an excess of 50% from day lows. One negative on the day was the fact that volume expanded which is a sign of distribution on down days. On a positive note, aside from the DOW which felt the effects of Boeing and Johnson and Johnson, the other indices closed well off day lows. As a result of the down day, I managed to recoup some of the losses on my positions Friday as I gained $1,535.50 on the day. Still, this leaves me with a loss $7,854 (for the week I lost over $2,600) on the positions which represents over 1.5% when expressed as a percentage of my trading capital. My thoughts are that yesterday’s weakness was neither particularly surprising since we were very near all-time highs (1+% to 3% away depending on the index), and since the losses, aside from the DOW’s were not particularly severe. As I type this, I expect that the averages will make a determined effort to surmount the July highs and their failure or success in doing so, will likely set the tone for the remainder of the year. I believe that the odds currently favor the bulls, but not by a wide margin. As I have previously said, if any of the indices make an all-time closing high, I will cover the entire puts position and take my losses.
  7. I believe my answer is pretty clear. Further engagement with you is probably a mutual waste of time.
  8. Concha, as you may be aware, aside from market posts, I have more or less abandoned this side of the board. The reason is simple: it has everything to do with the lack of civility.It is one thing to disagree with someone. It is quite another to attack them personally. To attack the dead is as low as one can get, for they haven't the ability to defend themselves. I felt compelled to post on this thread because I believe Cummings, on a personal level, was a decent human being regardless of whether you agree with his politics or not. He manifested that when he came to the defense of a Republican who had been smeared as a racist by another Democrat. With the above said, I will once again go into hibernation from the off topic board except for posts relating to my current trade which I will follow up on till it is closed out. It really is not worth posting here given the level of vitriol on display daily.
  9. You miss my point. You are unhappy because you are sick. This has nothing to do with politics and whether you have contributed anything good to society and everything to do with the hatred you harbor within.
  10. You are a sick human being. When you die may you rest in peace.
  11. Aside from misgivings on your final paragraph, the rest of what you posted was well said.
  12. DarterBlue

    767

    Actually, I post when I trade. I have no bias between long or short. I go where my indicators lead. When I am wrong I take my losses and move on.
  13. Stocks closed broadly higher on the day on higher volume Friday which took the averages into positive territory on the week. At day highs which occurred within the final half hour of the day, the averages were up very impressively with some sporting over 2% gains. However, in the final twenty minutes of trade, between .33% and .4% of the day’s gains were erased when POTUS Tweeted that a major first phase of a multi-phase trade deal had been struck with the Chinese. Notably absent from his Tweet were any details save one: the fact that we have “suspended” the October 15 tariffs. Still, at the close, the day’s gains were still very good and enough to put all the major indices into positive territory on the week. These gains ranged from 1.03% on the S&P 500 to 1.79% on the Russell 2000. On the week, the major indices showed gains ranging from .75% on the Russell to .93% on the NASDAQ. With the big gains on the day, my short options positions now sport a cumulative loss of $5,114.48. This represents 11% of the money put at risk and approximately 1% of my trading capital. At day highs, the losses were over $2,000 more. When I initiated these short positions, the loss exit strategy was to liquidate them if any of the headline indices (DOW, S&P 500 or NASDAQ) closed at an all-time high. At 3:30 pm, this was not that far off, as one was about 2% away from doing so. At the very least, my trades were ill timed. The proof of this is the losses they have now sustained. The best evidence that a trade is going to be successful is when it is profitable within days of being initiated. This has not been the case here. With that said, it is my intention to honor my stop loss goal. So, should the market show follow through on Friday’s exuberance, I will be back on the sidelines sometime this week.
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