Action! Inspired by The Hung Parliament Down Under

I'm ForexBimbo and I missed the beautiful Hung Parliament in the Land Down Under since I was too entangled with my CENX play to notice that I could have applied the lessons I learned with Professor GOL for a decadent forex coup d'etat. I've got wandering eyes in the forex market, though, with about four crazy price buy orders. If I get plucked any more with my portfolio, I'm looking for downright revenge.

The options chains do not look encouraging on CENX and we closed below the critical $10 level. Together with oil prices that look like they're dying to touch $70, this could be a recipe for a Trading Floor Nightmare. If I didn't have a TETSOB, I would have had the marriage annulled long ago. Do I ever learn? Do I want to learn?

So, should I take the loss now or stand by and watch CENX slide down... down... down and unbutton all the prices all the way to the $7.50 level? I watched my E*Trade trading platform a bit and noticed that there were occasions where bid sizes slightly outnumbered ask sizes. This hasn't been very convincing lately though, as bid sizes on C are similar and we haven't seen C rise above any of the nonsense just yet. It could also be premature to consider further deflationary action on oil a done deal. The $70 level has held its own since about September 2009. But this terrifying time of late August and September when earnings announcements are not quite ready to be unveiled is typical Bear Territory.

I'm putting in a sell order on CENX in Extended Hours trading. With a little bit of patience and a little bit of luck, I might be able to get out without getting seriously plucked.

But I've apparently missed my chance at romance with BAC! CEO Moynihan bought 30,000 shares today, which means I seriously engaged in some self-sabotage by not keeping my trading legs crossed. Initially, I had wanted to use the proceeds from my recent separation with Crown Prince C to buy BAC at below the CFO's level. I decided to move my target price to infomercial levels of only $9.98, so my buy wouldn't have gone through. Now that I look at the options chains again, $9.98 still looks slightly intriguing in a very APKS way.

Now that I'm stuck with CENX, it could be a long wait till the next earnings announcement date of 27 October 2010. CENX is a bit of a loose canon though - being so high beta. Over the next several days, I'm going to place Extended Hours Trading orders on CENX. Wish me luck!

Harry and I have a special rendezvous on 1 September 2010 (subject to misunderestimation). I can't wait for my dear Harry to keep me warm and make me breathless with his high single digit daily gains again. Harry, brush my levels here, there, and everywhere please! Anywhere above the $10 belt is just fine...

Unfortunately:

-1.3% on the SBA
-0.19% on the Roth IRA

In case anyone's wondering... my Roth IRA is more heavily concentrated in financial sector stocks. My two HBH (High Beta Honeys) - CENX and HWD - are in the SBA.