So those LNKD Calls we alerted @ .20 on Wednesday morning, hit $4.80 friday morning. So thats would be $200 into $4800 into 48 hours. Now i would call that a pretty good week for folks.
I am updating some charts. Right now I am holding all puts: AXP, MS, JPM, IBM and was looking for MA, GOOG, LVS, WYNN, GMCR as the market was closing but didnt pull the trigger. Perhaps Monday will provide a better opportunity.
This same time last week the market was in meltdown mode. Those red lights were flashing, the sirens were blasting, and the emergency personnel were donning their white chemical suites. It's amazing what 5 days of centrally planned manipulation will do for the sentiment of the market. This is just another act of can kicking. Nothing has changed. No debt has been flushed down the toilet and the overall picture still reeks. Mind you I was along for the ride this week. I am a bear, and think we the world economy is doomed, but no sense letting a fabulously coordinated ramp job leave me empty handed. I noted early in the week that I was a holder of numerous calls including the CAT $95 at $.32 they went to $3.20, the JPM $30 at $.22 they went to $3.15, and the SPY $121 at $.75 they ultimately went over $4. I bought these positions based on a chart formation that I nailed with perfection. (http://investorshub.advfn.com/boards/read_msg.aspx?message_id=69452621&txt2find=jpm) It was a picture perfect week and these wild swings provide tremendous trading opportunities. While I closed out many of my positions for only 4-5X times my investment, and watched them continue to soar, I still had a fabulous week and I am very happy locking in my gains.
In this centrally planned market there is no telling when fresh taxpayer cash will hit the futures market to artificially ramp stocks, or negative news will hit the wires. You have to be nimble.
Some of my my charts and commentary:
LNKD continued its ascent today, and shows how stocks can continue defy it's own fundamentals. We alerted the $67.50 Dec weekly calls @.40, on the morning pullback. LNKD then continued to surge late in the day to a high of $68.25. Our $67.50 calls went for $1.30, a nice 250% gain.
11:54 AM : Like LNKD $67.50 calls right now. Stock squeezed about 1 pm yesterday, so expecting a move up here soon.Currently .30 x .40... Very risky as they expire tomorrow, but reward can be great as well.
Linkedin Corporation has been in sell-off mode since it's recent earnings and announcements of a secondary offering. The once high flying stock, had fallen to $57 on Monday and things looked bleak, as the lock up period for insiders had ended on Nov 21st. Yet these are the type of stocks that can provide great trading opportunities. The stock opened in the low 60's , and held that range until 1:30 pm, when the stock soared amongst strong buying pressure, which was surely coupled with those scrambling to cover their short positions. LNKD closed at 65.93, up 11%.
We alerted LNKD $65 weekly calls @ .20 in the morning, and those same calls closed asking $2.05.
It is quite possible that LNKD continues its ascent tomorrow. Time will tell...
SPY $120.05 (updated chart) the inverted h&s is still in play as long as we stay above $118.80 area. this market sux right now, wild swings, crazy moves... the same chit we saw back in 2008. we are on the cusp of a big market crash IMO. I hate being long this market and buying calls, but even with futures down close to 1%, i still see the ramp going on for a little while longer.