The market was quite volatile today. It opened up high and continued to slide throughout the day, but, closed with a nice bounce. The Dow was down 108.28 points; SPX lost 13.09, and Nasdaq gave up 25.63 points.
BIIB, which announced itself “for sale” on Friday, and a few Chinese plays, such as PTR, CHL, and EDU really made our day today!
Bill P
Posted October 15, 2007 at 2:04 pm | Permalink (Edit)
PTR – Had the PTR Oct 220s from Friday. Paid 7.80 on Friday and sold for 23.20 this morning. That looks like a triple to me.
optiondragon
Posted October 15, 2007 at 12:59 pm | Permalink (Edit)
who needs to trade for the week after a 5/10 bagger and another multibagger on PTR/CHL!!!
Bob
Posted October 15, 2007 at 1:58 pm | Permalink (Edit)
Happy, BIIB – 455% out at 14.70
micble
Posted October 15, 2007 at 1:07 pm | Permalink (Edit)
New member since a week and 5 bagger on BIIB
Lithium Rocketbottle
Posted October 15, 2007 at 1:31 pm | Permalink (Edit)
Mainly flat, but was up big in the AM. Made some money on QQQQ and APPL scalps. Made bunches on EDU BIIB PTR (rolled all 3 to higher NOV strikes). Lost on NOV hold positions.
I personally got +346% on my BIIB trade, since I got in early in Oct and rolled from Oct calls to Nov calls. It seems that many members did much better than me!! But, I’m not going to complain about a +346% profit!! I also picked up some CHL calls on Friday for myself and made some good profits on those (CHL gapped up more than +$3 today):
HappyTrading
Posted October 12, 2007 at 12:58 pm | Permalink (Edit)
looking for Chinese ADRs for a jump on Monday. Still looking for HSI to top 30,000. FXI new high today and broke above $200. I like CHL. This is a non-published trade.
PTR worked out really well for many of our members who followed the lead from optiondragon on Friday. PTR gapped up a whopping +$24 today!!! Some of our members cashed out like bandits with Oct calls!!
tdbct
Posted October 12, 2007 at 1:21 pm | Permalink (Edit)
Thanks for PTR Dragon, very nice ramp into the close, took some off for a quickie 37%, let the rest ride. Looking forward to playing some baggers over the next couple of weeks. Everyone have a nice weekend.
Even on a market down day, we still had a pretty good day in the “Happy Trading” land! Other than cashing out early today, many of us just relaxed and watched the market with increased cash positions. Congrats and great job everyone! 
Let’s take a look and see how the market closed:
USO (oil) and UNG (natural gas) jumped “big time”, gaining +2.95% and +6.68%, repectively!! INX2 (Internet) was weak. XLF (financials) gave up 2%!! BTK was solid, adding +4.66 points. OIH (oil services) managed a small gain. GLD (gold) and GDX (gold miners) continued to advance. FXI (Chinese ADRs) closed flat.
SPX
SPX closed at 1548.71, down 13.09 points. It closed just below the 10-day MA. The MACD is becoming a bit “unhealthy” and the daily BBs are closing in. We have be a bit more careful, but, nothing to be alarmed about. I attribute today’s actions to “pre-earnings jitters”, which allowed the market to vent and shift back to a more neutral gear. It’s good to hold lots of cash, like we are, and, wait for further signals.
Nasdaq
Nasdaq closed at 2780.05, losing 25.63 points. It’s doing a little better than the broader market, as it stays above its 10-day MA. The daily BBs are also starting to close in.
After the market, DNA announced solid earnings, but, its shares slid slightly in AH, down $0.70. WENR beat the analysts’ estimates with its earnings and saw its shares rise +3.24% in AH! TLAB rose +5.51% today, even though it reduced its revenue guidance. Are there buyout rumors going around? SIRF is also entertaining buyout rumors as its shares jumped +5.64% and added another +1.92% after the market!
Good night and HappyTrading! ™
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