skiracer's stock slopes

[skiracer]

about 3-4 weeks ago i was definitely bulllish on the financial sector and stocks in general. i had bought call options on BAC Feb. 10 $16, $17, and $18 strike prices. i sold to cover on the calls this past friday. my feelings are subtly changing about the economy and what the administistration is doing to bolster it. i'm not saying that i am now a bear but i have my reservations on the bullish side right now.
lye, are you still holding FAZ from $19.89 range? you're down over 3 points with the trade on those 10,000 shares. that's a big chunck. now is the time that you or anyone might want to take a look at FAZ or TZA.

[skiracer]

about 3-4 weeks ago i was definitely bulllish on the financial sector and stocks in general. i had bought call options on BAC Feb. 10 $16, $17, and $18 strike prices. i sold to cover on the calls this past friday. my feelings are subtly changing about the economy and what the administistration is doing to bolster it. i'm not saying that i am now a bear but i have my reservations on the bullish side right now.
lye, are you still holding FAZ from $19.89 range? you're down over 3 points with the trade on those 10,000 shares. that's a big chunck. now is the time that you or anyone might want to take a look at FAZ or TZA.

If you were watching there was a struggle today between the bulls and the bears all day and at the end there was a major selloff. Kudos to the bears. not sure what that was all about but the financial sector finished weaker making me take an ever closer look at TZA or FAZ. Maybe puts against BAC look good right here. the Feb 10 $16, 17, 18 are appealing with only 39 days left to expiration there is plenty of room for profit taking from the prices of 4 - 5 days ago and where they closed today. i think it is beginning to struggle and this is a good place to look to get into that fall or correction.

[skiracer]

If you were watching there was a struggle all day today between the bulls and the bears and at the end there was a major selloff. Kudos to the bears. not sure what that was all about but the financial sector finished weaker making me take an ever closer look at TZA or FAZ as bets against the financial sectors. puts against BAC look good right here. the Feb 10 $16, 17, 18 are appealing with only 39 days left to expiration there is plenty of room for profit taking from the prices of 4 - 5 days ago and where they closed today. i think the sector is beginning to stall and struggle and this is a good place to look to get into that drop or correction.

JBII is in a correction. there is plenty of room for profit taking and it is being taken. I had stated that I was looking for another entry point below $5 but I am now thinking that $4.50 to $3.50 range would seem more feasible after todays action. I think you will see another bounce but only after the proper correction. I have a number of rules but the two most important are: always honor your stops and take your big gains when you have them. big gains don't come everyday and when you have them it is foolish to give them back to profit taking when you should be one of the ones taking the profits instead of giving it back to those who are taking theirs. my exit at $7.05 is now 1.50 pts. higher than todays close which with my 3000 shares equates to $3500. think about what you can buy with $3500 and would you want to give it back after you have it in your hand. I'm not sure if they have what they say they have and i could care less. if they do then i will re-enter at a cheaper price after having taken my gains. kind of like having your cake and eating it to. i have my money and gains in my acct and that is all that is important to me. i can re-enter anytime i want but i cannot get those gains back anytime i want.

ADAT closed today up +.04 or 3.5% at 1.18. if you are not already in the trade please take a close look at the stock and the setup because right here is still a reasonable entry point and the momentum in the stock is building and could go off any day. it is definitely worth a look and with a 7% stop loss of .08 at 1.09/1.10 the risk vs reward numbers are phenominal.

WBS is another stock that i am currently looking at. it is a northeastern regional bank and the fact that i feel the financials are due for a correction is the only thing that is holding me back on an entry right now. be patient and wait to see which way the wind is going to blow tomorrow morning. it is a good one but you may be able to get it cheaper if we wait a couple of days.

[wooish]

Ski

It's always a pleasure reading your post and I find them very useful. Thanks for your market insight. I've played financial in the past but always get burned but I'll take a closer look at WBS. IMO looking at the WBS chart, if market is green WBS should be able to get to at least $14 this week.

Check out ACLS, it's in an uptrend move and I have confidence it'll go above $2 if it breaks $1.8. I bought some shares at around $1.3 and hope to take some profit this week.

[Websman]

Great Job on JBII Ski! You were right on with your analysis.

[skiracer]

Great Job on JBII Ski! You were right on with your analysis.

i almost wish that i were wrong webs for yours and everyone else who owned the stock recently. especially for those who are still holding thru this correction. but this is pure capitalism at work and when your hand is in the bush and you have it on one of those birds you had better take it. im sure this is only a correction and profit taking on that first surge up to this level.

[Websman]

i almost wish that i were wrong webs for yours and everyone else who owned the stock recently. especially for those who are still holding thru this correction. but this is pure capitalism at work and when your hand is in the bush and you have it on one of those birds you had better take it. im sure this is only a correction and profit taking on that first surge up to this level.

Anything over about .40 is a profit for me, so the corrections are no big deal. I'm just impressed with your analysis. You've been correct almost 100% of the time.

[billyjoe]

Ski,
You have great powers. Now if we can get you to concentrate on using them only for the good of mankind.

-------------billy