Friday, December 6, 2013
It's been a zero sum game for me this past week as I quietly chased The Maharajas and watched AAPL from behind the scenes. There were numerous times in the week that I was wishing I was in 9FM's place. I sent him a 7-8 figure client, but apparently, another few million in the bank is not enticing enough for him and he didn't bother taking action in time to take advantage of some last-minute Turkey Day sales. All around me, I'm noticing missed opportunities in the name of bureaucracy.
I swear it was the minute that I stopped buying AAPL calls that it started its ascent of over $87 per share higher, which means that I missed out on gains of anywhere from $5000 to over $8700 per call. Repeat: per call. I had strikes all over the place from $500 to $525 or something.
Every week for weeks on end, I would faithfully get into any AAPL calls within my price range up to $3 something. I had a few small wins, but eventually got fed up being the dumb money, as BK on CNBC called it.
I was right to follow Dear Carl Icahn, but somehow, I still ended up being wrong.
If only I still had even one of those AAPLs in my tiffin...
I took profit on one of my Lehman bond issues earlier in the week. For something I bought for anywhere from $0.01 to $0.05 or something, being able to sell at $0.1925 was pretty exhilarating. If only I had some more, but I'm looking forward to the day more of these issues turn green...
+0.13% Hang Seng
0.86 Put / Call Ratio
0.090 Treasurys | DTCC GCF Repo Index
0.091 MBS | DTCC GCF Repo Index
+2.03% 5-Year US Treasury Notes
+0.73% 10-Year US Treasury Notes
70% Advancing Issues on NYSE | 69% Up Volume
28% Declining Issues on NYSE | 30% Down Volume
2% Unchanged | 1% Unchanged
65% Advancing Issues on Nasdaq | 62% Up Volume
31% Declining Issues on Nasdaq | 35% Down Volume
4% Unchanged | 3% Unchanged
Today's Major Headlines
Stocks End Sharply Higher On Jobs Report
The Stock Market Is Shrinking?
Bitcoin Broke Above $1000 This Week...