Timing of the pop odd since the story was on the AFP wire at 3:32 AM ... maybe it came on the boob tube, I have no idea... in any event, the scanner should have been screaming at 10:50, I assume a human could have entered at $11.38. See the StockTwits screen cap below to see who picked up on it fairly fast: WallStJesus, OpenOutcrier, NewsHedge_Squawk, UTradingFloor, DayTradeWarrior, and TrendsInvesting.
Crick to enrarge
Reversing QID and TECS for large losses ... those are two of the terrible positions taken on 8/24 (fixed the date typo in spreadsheet, prices were always correct), just the absolute worst sort of whipsaw. Anyway, soldiering on.
Reversing the yen short for a loss ... a reminder that I'm the only person on Planet Earth who shorted the China market on June 1st, find me another time-stamped post, article, TV clip, I don't care, which shows similar timing and I'll paypal you $20 ... I've posted a chart of the SPY down below ... you can expect prices to bump around in that range for awhile, nearly a 30 point range, so....
Crick to enrarge.
SRS belatedly reversing, no other changes. Terrible action last week for trend followers, just the worst kind of whipsaws, but nothing has *re-*reversed yet so I'm assuming that real damage was done to the market and we'll see things back and fill for many months.
I joked on The Twitter that SCO could reverse now that I had bragged about my "gains" ... never brag. :-)
Again a case of people in the know being able to sell some before the "news" hits. Back on Tuesday, regulators put the kibosh on the EXC purchase. No way to make money on this unless you were able to short into the fat bar as it formed, pre-halt. Good luck with that.
Crick to enrarge
Supposedly being bought out ... action during the lunch hour telling ... lots of buyers "under the radar" ... still if you got in after the "news" hit, you should have done fine, assuming you were quick.
Crick to enrarge
I don't usually feature after-hours pops since they're usually earnings-driven, but this was different ... Icahn disclosing a stake in FCX after the close on Thursday, causing it to pop. If you were fast and got in then out before it collapsed again, you could have made a buck. I guess the filings reader bots got to this first but I can see a human getting in at $11.
Crick to enrarge
Cutting losses ... almost 100% short now (the bonds and XIV are inverse plays) ... shorts put on in July offsetting most of the longs put on at around the same time ... a "hedged portfolio."
No changes this week. Posted a chart below of the SCO entry. Doesn't matter since no one reads brogs anymore.
Again during the lunch hour ... I guess CNBC got the scoop (leak) ... not much oomph on this one, risk reward wouldn't have made sense in the end, though you wouldn't have lost money, assuming you were quick. Options watchers were aware of unusual activity in the calls before this happened, so the fraudsters (now on a golf course somewhere?) made out once again.
But they didn't hack the press release this time.
Crick to enrarge
Bit late to post this, happened the Friday before last ... every day trader on planet earth saw this at the same time, scanners blaring across the land ... Bloomberg story is time stamped at 01:42PM: ValueAct Said to Amass AmEx Stake as Activist Seeks Targets but it probably showed up on the Terminal before then, though long after 13:27 when everyone piled in. Once again I can't see a realistic entry without a tick chart, not available to those slumming on the $9.99 datafeed. Hang on the story is time stamped August 7, 2015 — 1:28 PM EDT, which must be the Terminal time stamp, not the web.
Crick to enrarge
No changes this week. My energy, metals, and materials shorts are doing well ... and of course my perfectly-timed China short helps things.
No changes this week ... cutting losses in energies and materials early this month and getting short 'em is paying off (so far).
Maybe I'm the only one who's fascinated by what people buy during their weekly grocery shopping ... we just went and here's ours ... (will post a new receipt every week if you want to scroll down and down and down):
2015 08 02
2015 08 09
2015 08 16 ... smaller shopping as we'll be away most of the week.
2015 08 24 ... wife impatient and checked out first, thus the combined bill.
2015 08 29
2015 09 05 ... ran completely out of food, thus the Saturday shopping
2015 09 13
2015 09 24 ... sorry, shopping schedule got a little screwed up with houseguests, but we're back on track now.
Cutting more losses ... the China short nicely timed though.
From December 18, 1954 ... by E.B. White:
“ON OUR WAY TO WORK in the morning, we sometimes pass one of those temples where men sit meditating with their hats on, watching ticker reports projected on a screen. We stopped for a moment the other morning to kibitz: through the window we watched the watchers at their watching. The ticker was bringing news of cloudy conditions in the Middle West; rain was expected within forty-eight hours and might have an effect on winter wheat. The watchers, some of whom looked as though they were merely taking refuge indoors from a rain of their own making, absorbed this piece of information solemnly. One man, nursing a cigar, closed his eyes as he tried to conjure up the significance of the distant rain on distant wheat. What a strange little band of tardy pioneers they seemed, sifting the wind that failed to touch their cheeks as it blew across prairies they would never see! How sad they looked, these early-morning waifs — no parents, no homes, only a lighted screen on which prices rose and fell amid tidings of great gain!”
First news I saw was CNBC at 14:13 ... scanner may have picked things up at 13:57 or 14:03 at the latest ... hard to say if you could find a borrow and get short ... always interested in talking with traders who caught this in real time.
Lots of large losses and a few scratches ... hard to make a buck on the short side still.
This I did see in real-time but too groggy to do anything about it ... hard to see if it would have been a good play ... when it came back down in the 13:20s to probe around the re-open low, that may have been a place you'd get shaken out ... not that wonderful unless you were one of the early birds in below $65 ... can't tell how many trades went off down there without a tick chart.
Crick to enrarge
Late to post this, thus the two minute chart ... some "activist" said Macy's worth $125 a share ... quick day traders could have made at least $3 off of this pop, scanner willing. Can't see where the stop would go without a tick chart, but I assume the risk reward would have been decent in the end.
