RealMoneyIssues' Account Talk

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Glad I sold yesterday or I would have lost another 3% today... If we get just (yes, just) another 3 SPX points (already up almost 12 today), then we will have set another higher high. That will set the stage, partnered with the low VIX, for a push for the all-time high.

Have fun bears... The bulls continue to make bear skin rugs for all their family and friends...
 
RealMoneyIssues said:
Ok, decision time...

I have decided to stay in G for the foreseeable future.

My "system" has failed and with a whopping 2.45% so far this year (yes folks, that is all I have for 6 months worth of IFTs and worry) I have to step back and realize I am not cut out for this... At least in the G fund (now getting a 2.125% rate), I will finish the year a little over 3.5%, which will at least keep me above the inflation rate (not the criminally reported Fed inflation rate of <1%).

Sorry BT, but I still have no confidence that the dow will be 30k by 2015, so I won't be parking in C or S...

The F fund is an abysmal failure and more than likely will continue to fail while equities are the only game in town...

So, with no "crystal ball" and a failed "system" I have no choice but to step back and ponder my options before I actually lose money...

Good Luck everyone!!
Click to expand...

I wish you luck, RMI. However, I'm going to predict you will be back in stocks before year end. I'm also going to predict that this is just a "pause" for you, and you'll be back to timing the markets in one form or another at some point.

All in due time.
 
MrJohnRoss said:
I wish you luck, RMI. However, I'm going to predict you will be back in stocks before year end. I'm also going to predict that this is just a "pause" for you, and you'll be back to timing the markets in one form or another at some point.

All in due time.
Click to expand...

At this point, I doubt it. It isn't worth the stress (and weight gain from eating chocolate to "feel" better)...

Thanks for the post John!!
 
RMI.

Try not to be pusillanimous - we could be in a new multi-decade Supercycle bull market. You'll have plenty of time to sort things out.
 
Ok, stupid options question...

If I am trying to buy an option on a stock (lets use CVX) that I think will go down...

Do I (buy to open, buy to close, sell to open, sell to close) on a (put or call)??

I tried to buy to open a put contract (one btw) on CVX, selling for 0.33 per contract, so I thought it would be $33 (which is said on the confirmation) and then it cancelled it saying it was over $12k to execute (didn't have the buying power)...

Playing with paper money on TOS, so no snide comments, just trying to figure this out. I thought I had the terminology right... I guess not.
 
RealMoneyIssues said:
At this point, I doubt it. It isn't worth the stress (and weight gain from eating chocolate to "feel" better)...
Click to expand...

have you considered substituting beer or nicotine? or on the really bad days you could try beer and nicotine. it might help you beat that choco jones, because we all know you can't quit the market.
 
burrocrat said:
have you considered substituting beer or nicotine? or on the really bad days you could try beer and nicotine. it might help you beat that choco jones, because we all know you can't quit the market.
Click to expand...

Yeah, but the chocolate is usually washed down with a diet pepsi, so I get the caffeine kick too... but thanks :blink:
 
burrocrat said:
have you considered substituting beer or nicotine? or on the really bad days you could try beer and nicotine. it might help you beat that choco jones, because we all know you can't quit the market.
Click to expand...

I second that motion but would double down with at least 2 pots of coffee a day followed by approximately 1/4 to 1/2 bottle of bourbon each evening to relax.
 
RealMoneyIssues said:
Ok, stupid options question...

If I am trying to buy an option on a stock (lets use CVX) that I think will go down...

Do I (buy to open, buy to close, sell to open, sell to close) on a (put or call)??

I tried to buy to open a put contract (one btw) on CVX, selling for 0.33 per contract, so I thought it would be $33 (which is said on the confirmation) and then it cancelled it saying it was over $12k to execute (didn't have the buying power)...

Playing with paper money on TOS, so no snide comments, just trying to figure this out. I thought I had the terminology right... I guess not.
Click to expand...

Anyone, anyone? Bueller?
 
RealMoneyIssues said:
Yeah, but the chocolate is usually washed down with a diet pepsi, so I get the caffeine kick too... but thanks :blink:
Click to expand...

RMI, do you want me send you some chocolate covered macadamia nuts? :D Mac nuts are packed with numerous health-benefiting nutrients, minerals, antioxidants and vitamins...you can ease the anxiety by telling yourself you're eating healthy chocolate.
 
RealMoneyIssues said:
Anyone, anyone? Bueller?
Click to expand...

RMI forget writing calls etc. save that for the future. All you need to know is this:
Think the stock is going down buy to open a put. 1 contract is 100 shares so in your scenario it was .33 x 100
Think the stock is going up buy to open a call. Same as above.

When your rich and ready to sell you sell to close and collect all your money and buy chocolate. Leave the spreads and the rest for your next experiment once you get this down.

Today I bought to open 20 August 17 calls on the VIX for 1.45. I will sell for a loss if we continue the upward pattern this week but I feel the bear will return and 14.25 was my trigger for the buy. You can follow my buy and see how bad my buy is if you like. Hope this helps.
 
konakathy said:
RMI, do you want me send you some chocolate covered macadamia nuts? :D Mac nuts are packed with numerous health-benefiting nutrients, minerals, antioxidants and vitamins...you can ease the anxiety by telling yourself you're eating healthy chocolate.
Click to expand...

No, but I may need to make another trip out there to get some... we are going to TN this year...

Thanks for the offer :D
 
dhstdog said:
RMI forget writing calls etc. save that for the future. All you need to know is this:
Think the stock is going down buy to open a put. 1 contract is 100 shares so in your scenario it was .33 x 100
Think the stock is going up buy to open a call. Same as above.

When your rich and ready to sell you sell to close and collect all your money and buy chocolate. Leave the spreads and the rest for your next experiment once you get this down.

Today I bought to open 20 August 17 calls on the VIX for 1.45. I will sell for a loss if we continue the upward pattern this week but I feel the bear will return and 14.25 was my trigger for the buy. You can follow my buy and see how bad my buy is if you like. Hope this helps.
Click to expand...

Tried purchasing a buy to open Put on CVX (strike of $120) at .33 and it comes up with -$33, and tells me its an invalid order...

next?
 
Here is the current quote if you are looking at the July puts. I assume you are using Ameritrade. Try again with 5 puts. Maybe like TSP, Ameritrade is saving you from yourself...

120.00 CVX130712P00120000 0.16 0.00 0.10 0.14 36 310 EXPIRE 7-12
120.00 CVX130720P00120000 0.32 0.04 0.29 0.31 104 8,513 EXPIRE 7-20
 
Strange indeed. Are you approved for options trading on the play money account? Also your first error was trying for 1 contract as shown in your error. I believe your second failure was because you used a Market order. Try one more time with the 5 puts but make it a limit order at the current ask. Your 5 was a market order. Worth a shot otherwise everything else looks good to me.
 
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