What Worked Today 11122007

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November 12, 2007

Nothing worked today other than keeping a positive clear head and figuring out what my next trade is going to be. That is up. I’m playing the bounce and I think its going to be a big one.

I bought some AMTD calls today because I saw the E-Trade chart and know that SIC hedge funds were pressuring AMTD to merge with them. Now AMTD could outright buy them easily at this share price $3.49!!!! I don’t know if thats going to happen, but I also noticed an outright large call buy in the December 20s today. 12,108 volume vs 3,275 open interest. It just so happens that Karen Finerman and Pete Najarian both mentioned on Fast Money taking a long position in AMTD today as well. This volume could be related to their trades or they are piggy backing on the volume as well. Either way, they are in it, I’m in it, and the chart looked good when I bought in. Plus you got the pair trade thing going vs ETFC. AMTD also has spiked since the close to 19.87 so the 20 strikes are going to be higher at the open and close to in the money.

CSCO – It looks like its trying to find some support at its 200dema. I bought the calls in it because that will spike when the market spikes sometime this week – I think tomorrow.

SNDK – This was looking like a stellar spike trade, before the Nasdaq dumped near the close. I think this one has a 2-3 dollar move based on past times SNDK got this oversold. If that happens these call options will fly.

UA – I should’ve never bought this stock to begin with, but now that I still have it I want to hold on for now. I think the loss will be lessened because I have my oversold signals on. UA needs a green candle tomorrow to start a move that should take it at least to 48.5 and maybe even up to the 300ma around 51. UA got crushed on a good earnings report. Once again, I’m typing this in another UA Protect This House shirt.

SVA – This actually sucked. SVA ruined its breakout with todays action. I’m going to be REALLY quick on the trigger if this one doesn’t gap higher than its close today tomorrow morning.

Sold alot of stuff today, I was happy about that.

EMC – I’m happy with the EMC purchase. I will look to buy EMC for other accounts – Maybe replace SVA with it. I want to see EMC hold and reverse this week. Pete Najarian also mentioned he bought into the EMC weakness today. I just need a green candle in EMC and I’m happy.

USU – Can USU have a green candle tomorrow please?

I’ll buy the bounce as it happens because I think it will come in multiple days unless tomorrow is a monster gap up.

Other things:  I’m right about the US Dollar someone is listening out there to me and not Jay-Z.

I think OIL is fscked too.




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