I closed my YHOO DEC. PUTS today at avg .85 (i got in avg .45), not a bad gain of 75% for less then a weeks time, maybe now I can pay my cable bill on time this month. But I am keeping my NOV.s open. The stock should tread even closer to $10 but I have my eyes on some other stuff and need capital on hand. My partner in crime may be kind enough to explain in a later post how he's benefited by taking a short / put position in several companies recently. Not to sound like a pooper but there's a bunch of hollow, rootless optimism going on these days. The BEAR is in play, and the BULLs are getting slaughtered ... hopefully that changes soon.
*Update on Circuit City, apparently they are hoping to "get out" of bankruptcy by 2nd quarter 09...I guess I'll hold these sh*t shares for a little while (CCTYQ
I HAVE MY EYES ON: Activision DEC. 15 calls. Wells Fargo, China Mobile, and I have a limit order for NOV. 10 CSIQ calls. I would move on WFC under $28 and CHL i would go long on closer to $40/share. SOLARS are still my favorite 211 plays, (in and out swiftly)we'll see as the day goes by, dow currently down a little over 200pts. (sigh)
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Seems like a lot of deals are falling through these days. May be profitable to start betting against other mergers...
I'd still be hedged in this market - we could see a significant upside pop very soon - 100% short on that day would be painful.
you know, it's crazy but i think we need to know whats going on with the automakers and whats to be made of this holiday season. qtr 1 maybe extremely ugly. Bull at heart but i'm dodging these bear traps for now.
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