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    #61
    Yeah CMG scares me like OPEN. Can't believe it's trending back up.

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      #62
      Took a 23,000$ loss on TZA, sold at 31.44... The trader I follow is actually still holding, but will sell if the S&P gets through 1350 with volume... so far it is holding around there, so he is holding. Lots of bios running recently, makes me think a blowoff top is here (or near).

      g

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        #63
        AFFY blew through 7. This was bound to happen to me eventually. Highly unlikely I won't get called out of the shares this time. Oh well...I'll just wait to buy back in.

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          #64
          Originally posted by Slug View Post
          AFFY blew through 7. This was bound to happen to me eventually. Highly unlikely I won't get called out of the shares this time. Oh well...I'll just wait to buy back in.
          the NDA response should be by the end of the this month. I give it 90% chance to get accepted (the NDA application, not approval of the drug) with a spike of maybe 1$ on that. There is a 10% chance of an RTF (refusal to file) but I doubt it happens. If so, stock gets crushed to 4. But I think the guys who bought at 5.90 did their homework and have not unloaded yet.

          g

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            #65
            Originally posted by gambler2075 View Post
            Took a 23,000$ loss on TZA, sold at 31.44... The trader I follow is actually still holding, but will sell if the S&P gets through 1350 with volume... so far it is holding around there, so he is holding. Lots of bios running recently, makes me think a blowoff top is here (or near).

            g
            Very bad jobs report this morning....your trader friend may end up being right.

            I am on the fence as to if I like this or not. Sitting on $150,000+ cash, but I also don't like seeing my 401K which is heavy equity, go down. I guess I am invested about right when I don't care if the market goes up or goes down. Will be buying a little today on a dip, but saving a good portion in case of a market correction next week.

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              #66
              Originally posted by KTP View Post
              Very bad jobs report this morning....your trader friend may end up being right.

              I am on the fence as to if I like this or not. Sitting on $150,000+ cash, but I also don't like seeing my 401K which is heavy equity, go down. I guess I am invested about right when I don't care if the market goes up or goes down. Will be buying a little today on a dip, but saving a good portion in case of a market correction next week.
              Just think how you would feel if you were not a trader at all... then you would have absolutely no control of your destiny. I can understand why people pulled all their money out at the bottom in March '09... and then put it all back in when the Dow was at 12,800...

              I do feel the market is due for a correction, and so far this year we have been essentially rangebound. I'm still 80% invested, but only in biotechs that I like (small market caps so I won't post the tickers). Both are plays for a few months.

              The tough thing about TZA is that you have to battle the decay that all triply leveraged ETF's have... so you can't hold for more than a few days before you start losing money. Have to get the direction and the timing right (kind of like an option).

              g

              p.s. Looking at the realtime EURUSD chart, note that the EUR strengthened starting at around 7am. The stock market, which trades typically with the Euro (strong euro, which is the same as weak dollar, means the stock market goes UP) traded DOWN when the dollar went down. However, if the USD strengthens, then each dollar buys more, then the stock market will go down even more.

              Euro Dollar Chart | EUR USD Chart | Streaming EUR USD Chart
              Last edited by gambler2075; 07-08-2011, 05:27 AM.

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                #67
                Hoping the jobs report puts my AFFY calls back underwater.

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                  #68
                  Watching LEDS for possibility of an oversold bounce. It has tanked for MONTHS and finally had another bad earnings report this morning... maybe it finally has been factored in? (No position).

                  CREE down as a result.

                  g

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                    #69
                    MRNA bouncing on a trader's recommendation. No position.

                    g

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                      #70
                      Originally posted by gambler2075 View Post
                      Watching LEDS for possibility of an oversold bounce. It has tanked for MONTHS and finally had another bad earnings report this morning... maybe it finally has been factored in? (No position).

                      CREE down as a result.

                      g
                      LEDS bouncing nicely, I am long 26K from 5.70 (up 6K$ so far). We'll see what happens.

                      g

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                        #71
                        LNKD shorts getting taken to the woodshed... this was 60 like a month ago.

                        Linkedin Corporation: NYSE:LNKD quotes & news - Google Finance

                        g

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                          #72
                          keep a close eye on your LEDS play....starting to trade back down to 5.70

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                            #73
                            Originally posted by gambler2075 View Post
                            LNKD shorts getting taken to the woodshed... this was 60 like a month ago.

                            Linkedin Corporation: NYSE:LNKD quotes & news - Google Finance

                            g
                            Sweet jeebus!

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                              #74
                              Originally posted by KTP View Post
                              keep a close eye on your LEDS play....starting to trade back down to 5.70
                              wow, amazing recovery intraday... may sell soon, beware. Up 22K$ at 6.55 now. Wouldn't buy now.

                              g

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                                #75
                                Originally posted by gambler2075 View Post
                                wow, amazing recovery intraday... may sell soon, beware. Up 22K$ at 6.55 now. Wouldn't buy now.

                                g
                                6.65 now..what a volatile stock you found!

                                You could have traded it like 2 or 3 times today and made 20%

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