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Politics : Welcome to Slider's Dugout -- Ignore unavailable to you. Want to Upgrade?

To: re3 who wrote (6014)	8/16/2007 2:15:06 PM
From: SliderOnTheBlack	Read Replies (1) \| Respond to of 50282

re:["are you one of those ? and if so have you started your snapping today ?"] Question #1. -- yes. Question #2. -- yes. Back in the saddle again ~~ riding ole yeller! Bought some SLV and a few gold & silver stocks - no GLD. Just the 1st tranche. Sold some more GS puts too. Mo Later, SOTB

To: re3 who wrote (6014)	8/16/2007 3:19:57 PM
From: SliderOnTheBlack	Respond to of 50282

re:["may i ask what is your avg cost on GS right now?"] As far as GS. Here's the recap: 1. Entered Aug 1 in the $182-$185 range. Sold some puts and bought some calls for an initial entry. 2. Blew out the calls for a decent profit on the run up to $194-198. Admittedly, may have been more lucky than good there... 3. Sold some more $150 puts on the pullback to $170-172. 4. Bought some shares today on the break of $162-160. Cost basis/returns? I got a nice pop on the calls. Got double digit premiums in pocket from selling $150 puts... and we haven't seen the $150 strike yet. So far... all profit. If we do see $150... whoopty-do. I get paid handsomely (double digit premiums) for being willing to buy the correction. I own some shares at $161.20ish avg basis from today. And am willing to follow her lower all the way to a 'hundie if need be. And I sold some deep out of the money January 2008 $130 puts today for $9 and change in pocket. I'm in the game. I'm going to get my bottom the old fashioned way - I'll earn it. And I'm going to bag a shit-load of $10+ premiums for taking GS down at $150 and $130 if seen. If not seen -- I got a decent pop on my calls, I'm sitting okay here in the low $160's, and I may just get to keep a tranche of double digit premiums in pocket - as a nice little bonus for being ready, willing and able to step into the abyss. And for icing on the cake, got to scoop up some gold stocks on the cheap (Pre-Helicopter drop here today)...and life is good. Stand like mountain -- flow like water... and fear not the darkness. Now that doesn't mean you get on margin, or chase every tick down. Be smart. Respect the possibility of this going another 7 rounds. Feels like round 8 to me fwiw. Use those put sales... it's the smart money way to enter corrections. And remember, Sell the slime - buy the prime. SOTB PS: You know... it feels good to be back in gold. Feels like I just took a nice shower. Back home again. The street got caught holding its own bag here for once. Let's win one for the little guy!