Wednesday, October 28, 2009

Fancy Charts?

Not here. We have a breach to be sure. There's lots of fancy charts, but you don't need one to see some of the 'obvious' places to look for support. I'd add that between 96 and 102.3 or so, there's a rather thin bar.

As you know, your hostess is not a trader. I had some lovely SPY 110's puts (in size for me) that I elected to peel off yesterday. Why? because I thought we had a decent chance of a bounce. I did hear the news (though apparently some (clearing throat) did not), that GS had revised GDP downward. Now the government number comes tomorrow. Now wouldn't it be a hoot to make you toot if the government's number is larger than GS's?

I had the opportunity to catch up with a fellow blogger, Iguanadon, at the Slope of Hope. What a treat it was to meet him. Here's a link to a pic if you care to take a look here. And I hope that if any of you are traveling through the Richmond, VA area, that you'll think to look me up (see my profile for e-mail address.

While I'm chagrined that I let a large put position get away yesterday, they were NOV puts, and those things can lose value fast. I did have the presence of mind to pick up some SPY MAR 95's. I currently have CFR DEC 50's and BWA JAN 30's. Oh...and DUG DEC 12 calls. I also have some NOV SPY calls....I'll hope for a bounce to unload them! I have some SDP, EDZ, FAZ (since 50, but a very small position) and SMN. I also bought some SH. I also bought some XRAY DEC

I've still cash to deploy, but I'm not brave enough to go full in short.

5 comments:

Anonymous said...

did u used to comment on Bill Cara's blog?

Chris Lovell said...

Hi Leisa,

This is Biffermas. Wow, what a commotion over at The Slope. The posting I did about market blowups last week was an attempt to open up dialog about the same shit your brother went through. I was so depressed when I blew up, and the thought of my life insurance policy being worth more than me hung like a cloud for a year afterwards. Thanks for bringing your experience up; I'm confident several people will benefit in the way you intended :)

you're a good person, Leisa!

Leisa said...

Hi anonymous--Yes, I am that Leisa.

Hey Chris (I tried to send you an e-mail from your contact info at your blog, but it came back). I'm glad you made a different choice than my brother. It seems to have struck a chord.

Anonymous said...

Leisa is also a carpenter of reknown, having singlehandedly constructed The Woodshed for other fellow commenters with a past.

L, I had not heard that story about your brother. I lost mine also to a manner I have never shared. It changes us.

MarkM

Chris Lovell said...

Hi Leisa,

I'm sorry I missed your email, Here's my main address:

christlovell@yahoo.com

My line of communication is now always open. :)