Nest: Exposure is just a guess.....one that might (now) be wrong since Master has just gone on yet another smack-down of the Pooch. Bid now $16.43....he's closing the opening gap which probaly means this downside target is the ~$16.40 area .....but even so I've opened yet another buy side trading tranche off this .43 line...just because the set-up was there....let's see if this is a stooopid move or not...just looking for the usual +10pennies if I can get it.
Nest: I'm not sure BAC has that much currency trading exposure...but this is just a guess. I could stand correction....but with the bid now at $16.54 I'd say the market doesn't think so, either?
On another note....I've been playing a dangerous game with NBG. Buying low, selling high its $1.10 to ~$1.40 channel. So far it's worked.....so I continue to do so until it doesn't or I get smacked sideways....
Let's see what happens today. BAC bid $16.53.
Funn: Don't know from POS but agree with the play. I've been happy with the results...speaking of which...current bid now.....$1.28. Looks like its heading back towards the upper end of that channel, eh? I'm tracking it with my current open "gets" from the low end of it....
Bid now $1.19. I've been playing the channel from ~$1.10 to ~$1.40. I'll leave the rah rah bah bah'ing to those so inclined. Me it's all about the next trade....profit.....be it using the buy side or sell side tactical tools it's all about the profit. That IS the reason for this game after all....I care less the rah rah bah bah that seems to be the popular use of these threads by the self-absorbed set. ;-)
Make that..."....and now it's grind and wait IT out UNTIL the next shoe a'falls?" Geeez it is not my day for typing....more like....thunder thumbing the keyboard...
Well you've got NSDQ sitting there fat showing 163,700 and EDGX also plopped there showing 117,600 on that $1.03 bid. Been there for some time, with the shows varying from time to time. But you've also got ~206K showing on the $1.04 ask. And most of the action is ziggying across between that spread. What that tells is DRYS is caught in a grinder right now. It's not going anywhere until the forces have resolved their tactical action. This doesn't appear to be happening real quick right now.....it's grind grind grind....it's kind'a been this way the last 4 sessions or so. If there's a silver lining it's in the concomitant declining volume....so....the supply/demand equation seems balanced....and now it's grind and wait in out on the next show a'falling?
Just some random thoughts while watching the action...
$3 by 2017 seems a reasonable target, presuming of course a continuing recovery in the global economy. A recovery, right now, that is decidely uneven and problematic....but hey....two years to go, eh? ;-)
NCC: Interesting conjecture. It'll be interesting to see how that effects things. For now it kind'a feels like the bid is following the overall market. A market that's pretty much stalled...possibly Greece related (again)? Anyway..speaking of options though....holy jeeezus....check the size of the open int on the Jan 15 2015 Calls and Puts from $15 thru $20. Roughly speaking there's 1.5M Options open on the Call side, and ~875K on the Put side. Them thar's some powerful lining up going on....clearly some folks are anticipating something magical by that time? As to what that might be I've nary a clue....
Current bid with ~25 minutes left in the session, $16.36. Wonder what the on close volume is shaping up to be, eh?
Why not. If you haven't been keeping track it's clear that NBG, the equity, is channeling...so as a trader I say play what the market is doing, not what you think it should be doing....I'm playing the churn until the controversy is put to bed one way or the other...
Yah...some of my oil's are doing nicely...but to the topic at hand....well...it appears gap theory DOES work!? But in this case not as it relates to last Friday's gap....more to todays session opening downside gap....with the bid now at $16.47 looks like that one is being filled? ;-) Let's see if it continues...
Well so much for the end of last weeks upside adventure...at least...so far....now testing the top of Fridays opening gap at this level.....wonder if gap theory holds true this time 'round...if so....well...bottom of that gap is at ~$16. Not sure Master will take the Pooch there but....we all know the relationship Master and Pooch have.....it's....contentious... Let's see where to from here. Bid $16.34.
Hmmm....thanks Huck! Yah...it does...excepting we're staring at a week-end of Grecian drama me thinks...we'll have to see how THAT one plays out...
Yup....got the smack (so far)....to $16.47...grabbed a tranche at that line...now watch Greece go to hell in a handbasket and BAC open up Monday sub $16. :P!
Will it hold? Don't know....but volume on the Feb 6 $16.50 options, both calls and puts...ain't....small...interestingly...for what it's worth...the Feb 20 $17 calls is seeing some action...more than the put side. Now I won't claim any real expertise in Options but the way the volume across the chains is shaping up it looks like those players are expecting BAC to be north of $17 by....March? Hmmmm.....just a guess of course.
Bid bounced to ~.64 then rolled right over and a series of sell side attacks took the bid to where it is right now...$16.50....hmmm...what's the action on the $16.50 options I wonder? Heh! Anyway....hold for it....bid gonna get smacked south of .50 me things...if not...oh well? ;-)
Bid now $15.51.
Lunch? What a novel concept. Me I strap meself into my machinery along with a pair of astronaut diapers and focus, focus, FOCUS. I jest....but sometimes I do think I'm a bit too tied to these fancy smancy machines....occasionally when I digress into that 'ol song of "Is that/this all there is....?" I get up and wander around a bit on the intraday....
Speaking of is that all there is....bid $16.57....I've a bet with myself...one that's says Master closes da Pooch south of $16.50....'course...this could simply be a function of me having an open low-ball bid waving south of that line. ;-)
Okay I've just guaranteed the bid is about to go +$17. How so? After watching the churn at current level of $16.73/4 I've closed all my open trades at this level and will now head giggling towards the traders exit ramp to count up the booty. I'm satisfied with the week. I'll re-enter lower (hopefully).
What's this? Has Master lost his/her MIND! Da Pooch!?! Da Pooch is..running LOOSE! Bid $16.73. I don't believe it. Where's the rolled up paper smack-down? Where's the sell side tactical game? It's been all stair step stairway to heaven on the buy side so far. Hmmmmm......
Not that I'm complainin' mind you. ;-)