Skiracer's stock slopes

[skiracer]

Interesting I guess the pps will not go below $4 even after the gov't sold all their shares. Maybe we should consider going long when it's around $4.

it was just an observation i made while looking at the chains today. actually i am still short the stock and just bought the june 10 /$4 put at .10 a few minutes ago. i am still firmly holding to the belief that the govt selloff will drive the price down under $4 and maybe as low as $3.25 which i said a few weeks back. after the govt selloff i would definitely be interested in the long side. bukt there is no way that they are going to sell off 7.7 billion shares and not drive the price down. everyone was betting that the govt had been selling their shares a little bit at a time over the last few weeks but it doesnt look like that was the case.

[skiracer]

I bought the june 10 / $4 puts on C yesterday at $.10. They closed today at $.16. I am also short the stock from $4.24 now only down .10 on the trade. still holding. anyone else betting against C or the financials in general. i watched the entire days worth of testimony from Goldman Sachs executives from midlevel trading managers to their CEO and in my opinion they did not do well for themselves. they kept trying to make black and white look grey and the senators weren't buying it. i still like C to the short side. anyone else? here's the daily chart showing the breach of support lines and the filled and yet to fill gaps in its chart.


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and here is the weekly:


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[wooish]

Ski

There's a Chinese saying dating back to thousand of years. It goes something like "Heaven, Earth and Human", it basically means something is bound to happen, it's just waiting for the right time, the right place and the right event

The crashing of C couldn't come at the right time and those are the events that make it happen. I sure hope it fills all the gaps that you've mentioned then I will backup the truck.

1. Gov't dumping their shares.
2. The Goldman scandal
3. The Europe debt crisis
4. Mr. O cracking down on financials

[skiracer]

Ski

There's a Chinese saying dating back to thousand of years. It goes something like "Heaven, Earth and Human", it basically means something is bound to happen, it's just waiting for the right time, the right place and the right event

The crashing of C couldn't come at the right time and those are the events that make it happen. I sure hope it fills all the gaps that you've mentioned then I will backup the truck.

1. Gov't dumping their shares.
2. The Goldman scandal
3. The Europe debt crisis
4. Mr. O cracking down on financials

i find it amazing that all those events are happening at the same time making it the right time. just like there will be a right time to jump back on the long side. but not right now.

[skiracer]

Steel,
i hope you're watching your HOV options closely. it's down bigtime in the premarket. i'm out at $7 yesterday a.m.

[houstongo]

Pre-Market

Please help me understand how is Pre-Market determined???

Can you purchase stocks or sell stocks in Pre-market or after market???

How does that work???

[steelman]

Ski,
I sold a few contracts on Monday at 2.65 from .35! I tripled my money and I left a few contracts in to let it run. I am happy with the outcome, but I still don't want to see my remaining calls drop to zero. I feel it the right play, taking some profit out and leaving some in since it's house money.

thanks,
Steel

[skiracer]

Please help me understand how is Pre-Market determined???

Can you purchase stocks or sell stocks in Pre-market or after market???

How does that work???

you can buy and sell in the premarket and afterhours markets. the prices are determined the same way as in the normal markets. i think a stock has to be over $5 to trade in either of them. go to www.nasdaq.com and select premarket or afterhours and then enter a stock like C or BAC and it will show what it going on with it.

[skiracer]

Ski,
I sold a few contracts on Monday at 2.65 from .35! I tripled my money and I left a few contracts in to let it run. I am happy with the outcome, but I still don't want to see my remaining calls drop to zero. I feel it the right play, taking some profit out and leaving some in since it's house money.

thanks,
Steel

thats great steel. i did well to. i will be looking to re-enter sometime after it bottoms out from this pullback. BOLT is also looking good and cheaper now than when it was first brought to the forum. that one will turn out to be a strong play. worth keeping an eye on.

[wooish]

Looks like GS will settle the case. Time to buy GS and financials?

[skiracer]

Looks like GS will settle the case. Time to buy GS and financials?

I hadnt seen that wooish. where did you read that at?

[wooish]

It's not official yet but very likely. GS's chart looks mightly bullish now after a week of speculation and decline.

http://www.nypost.com/p/news/business/settlement_day_tKZx6qL2xcbz4MX4xW9oAL

[skiracer]

It's not official yet but very likely. GS's chart looks mightly bullish now after a week of speculation and decline.

http://www.nypost.com/p/news/busines...xcbz4MX4xW9oAL

i think they are going to be lining up to sue GS, especially if they admit to wrongdoing by offering to settle. i wouldnt touch it right now. and besides this is strictly hearsay right now.

Im still holding my puts and am still holding that short trade on C. Im also surprised that C didnt perform better today in light of the big gain with the markets.

[wooish]

I'm still holding my May C put, I regret not buying the June put. I might just sell the May put and buy the June put because of time decay. Will see what happens tomorrow.

[wooish]

BOLT is climbing back to above 50MA, time to re-enter?