Wall Street Crack

For Those Addicted to the Wall Street Game

Archive for the ‘Uncategorized’ Category

DISREGARD LAST POST AND DO NOT CLICK ON LINK

Posted by Dino on November 19, 2012

I apologize for the last post going out.  Our WordPress account was apparently hacked and a spam post was sent under this name and blog.

Passwords have been updated and changed.

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WallstreetCrack Has Moved to Fattailreturns.com!

Posted by Dino on May 19, 2011

In order to give us more flexibility in what we are able to to with regards to this blog, we have decided to move to a new site called Fattailreturns.com.  If you currently are an email subscriber, you don’t have to lift a finger!  Your subscription has been transfered over automatically and you will continue to get notified of new posts by email.  If you subscribed via WordPress you will have to stop by and subscribe again.  We apologize if this is any inconvenience to anyone.

All posts have been transfered over so there should be no need to return here to check out the archives.  We will though keep this site up for a short while.

Thank you all for stopping by and checking Fattailreturns.com out!

Dino

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Updating Position Spreadsheet

Posted by Dino on April 3, 2011

If you’ve haven’t noticed, I haven’t updated my position spreadsheet in a little while.  I’ve been having troubles with my data link from Excel to Thinkorswim.  Every time I enable the link my spreadsheet freezes.  I’ve decided to switch to Google Spreadsheets and I’m currently working on transferring all of the data and embedding it into this blog.  Should have it done in the next day or so.

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$CTXS Bounces off Ascending Trendline

Posted by Dino on March 10, 2011

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New Trade (but may be short lived): Long $ANR

Posted by Dino on February 23, 2011

As of last weeks post I stated that I wasn’t looking to start any new long positions.  And I was telling the truth, I wasn’t LOOKING to start any new longs, but one fell on to my lap.  I was looking over some charts last week when I happened upon Alpha Natural Resource (ANR).  ANR had a nice run from the middle of December to the middle of January but it looks as though it got a bit ahead of itself and people took their profits bringing it back down to reality.  After that bout of profit taking ANR announced that they were acquiring Massey Energy (MEE) for a $7.1 Billion stock and cash deal.  After this news was released ANR bounced around 52-55 area before breaking out from that consolidation and holding the 50 day SMA for a couple of days.  I went long at 57.15 expecting continuation but in the past few days ANR (along with other coal related stocks) have taken it on the chin. On February 18th (a couple days after I initiated my position) Greg Harmon wrote a blog titled “Stoking the Coals” which supported my thoughts on the sector.  Unfortunately they’ve all been dropping like rocks.  Hopefully they find their bottom above my stop and retest highs soon.

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Trade Review: $ACTG

Posted by Dino on February 18, 2011

Talk about a trade I almost completely screwed up.   If there’s a reason for documenting your trades this is it.  It is important to remember your winners but it’s just as important to remember your losses and mistakes.

The chart to the left has quite a few notes on it and I’ll try to go through them all and try to make sense of them for you.  My initial entry was a prudent entry as it appeared that it was going to resume its rally after pulling back and appearing to form a base from $25.25 to $25.50.  It didn’t seem to want to enter the gap so I made my entry at $26.37 and the next day it dropped rapidly.  I was fearing a gap fill so I set my mental stop to a close below $23.50 but it didn’t meet that criteria.  over the next couple of weeks it rallied close to my target of $30.24 which was based upon  a 161.8 fib retracement from the swing high to that low.   It popped up to $30.20 and I sold a small portion at that pop just to lighten up my long exposure (was looking a bit heavy here at the time) but didn’t sell cause it didn’t hit my target.   Thinking it would hit it the next day, I held on.  Certainly it would hit in the next day or two…..but no.  It fell back down into a multi-week consolidation.  I was quite frustrated at this point but frustration turned to optimism as it rallied back up to the $30 area.  It was trading well at this level and I felt comfortable walking away for a meeting.  When I returned a couple of hours later it certainly had hit my target….and then dropped back down.  Like a fool I hesitated closing under $30 because I wanted to close it on my target.   You can see what happened over the next seven days.  My frustration doubled and after nearly getting stopped out I closed the remaining position for just about a 2% loss over all.  I let a few pennies get in the way and turned what would have been over a 13% gain.

Maybe I’ll add “Don’t be a Dick for a Tick” or “Don’t Trip over Dollars to Save Pennies” to my trading rules.

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Urgent: Think or Swim Database Maintenance (via Read the Prospectus)

Posted by Dino on January 20, 2011

Great idea. For all of those who use Thinkorswim.

Think or Swim tells me that they will be doing database management this weekend (1/22/11-1/23/11). Because of that, it is advisable to back up your thinkscripts locally on your computer. Just highlight them all in the list and click export and save them to some folder on your computer. Everything should be fine, but they recommend this action just to be safe. … Read More

via Read the Prospectus

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$ATPG Still Showing Strength

Posted by Dino on January 12, 2011

After charging past previous resistance last week ATPG sold off a bit but not down to a level of concern.  People that bought into the gap up and people who have been waiting for the squeeze to start probably got frustrated that there was no follow through and cleared their positions.  Buyers came back in around $16 and this is a very good thing.  Should strength continue shorts  will continue to feel the pressure to cover.  As of 12/31/10 shares short dropped by about 2 million to 16.4 mil short but that’s still about 10.8 days to cover around 38% of the float still short.  Bloomberg has more info here.

Patience should pay off well with this.

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$IGOI gets an $AAPL Certification

Posted by Dino on December 16, 2010

IGOI once again gets a huge boost, this time, from the Grand Daddy Tech Giant Apple.

IGOI: Currently up about 10% today to $3.36

http://investor.igo.com/phoenix.zhtml?c=120809&p=irol-newsArticle&ID=1508711&highlight=

New iGo iPad Wall and Car Chargers Power More Than the iPad

SCOTTSDALE, Ariz., Dec 16, 2010 (BUSINESS WIRE) —

iGo(R) (Nasdaq: IGOI), the most trusted name in the accessory power management arena, has unveiled Apple-certified iPad wall and car chargers (MSRP $24.99 each) that provide a convenient charging option for both the iPad and other devices. While iGo’s new iPad chargers can power iPads, iPhones and most iPods, they can also charge almost any other low power device through their USB power ports. With the ability to power multiple devices from one charger, the new iGo iPad chargers offer a flexible charging solution for every iPad owner.

With the included certified charge/sync cable, both iGo iPad chargers feature a 2.1A output to quickly charge all iPads, iPhones and most iPods. Adding charging flexibility, the USB port featured on the iGo iPad wall and car chargers works with either the included sync cable or any other USB cable to charge other mobile electronic devices, such as mobile phones, MP3 players, portable game consoles and more.

“As iPad users browse the web, send email and enjoy photos, videos, games and e-books, we wanted to provide a family of chargers that match the iPad’s flexibility,” said Walter Thornton, vice president of product management and supply chain of iGo. “The compact iGo iPad wall charger and ultra-small car charger are the perfect charging solutions to keep iPad users powered wherever they go.”

The small and compact iGo iPad wall charger accepts all international input voltages without a voltage converter and is available with replaceable AC blades for international travel. The iGo iPad car charger is small enough to sit flush with most car charging ports, making it as unobtrusive as possible.

For more information about the iGo iPad wall charger, please visit http://www.igo.com/axx/ipad-wall-charger/invt/ps002850001/. For more information about the iGo iPad car charger, please visithttp://www.igo.com/axx/ipad-car-charger/invt/ps002860001/. For more information about iGo, please visit www.igo.com.

SOURCE: iGo, Inc.

The Rogers Group for iGo
Heather Gordon, 310-552-4123
hgordon@rogerspr.com

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Putting in Limit Order $DFS Dec 18 $PUT for $ 0.10

Posted by Dino on December 13, 2010

I’ve been long DFS since around $14.91 and it’s had quite the run since the end of July.

I’m up about 30% on the position right now and with DFS earnings this Thursday I want to begin protecting profits.  I don’t want to close the position because if you look at the weekly time frame it appears to be in an Inverse Head and Shoulders Reversal with a possible target of $28ish if the pattern plays out completely.

I don’t want to pay a ton of money for that protection either.  Normally I would collar my position by selling a OTM Call in the next expiration cycle and buy the front month OTM Put but due to account/broker restrictions I am unable to do that.  So now I’m simply going to put a bid in for $0.10 for the December 18 puts.  I want to hopefully get this closed today because Implied Volatility is starting to creep up.  Buy doing this I’ll protect 20% of my profits for a dime a share.

Best case scenario, DFS continues on its northward trek and I’m out a small amount of cash; Worse case scenario I exercise the option and walk away with 20%

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