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TOPIC: Congressional testomony time

Congressional testomony time 09 Apr 2018 16:00 #11652

  • myownhedgefund
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One of my favorite plays is when a public company is pulled in front of Congress to testify about something the company did, didn't do or whatever.
Tomorrow it will be Facebooks turn (FB)
Usually the play is buying at some point the hour before it starts and selling by either late in the day to sometimes a bit longer...say 1-3 days tops.
Its not big money....but usually painless. That doesn't mean riskless !!!!!
Scalping during the course of testimony also possible depending on the level of sparing.
A few suggestions:
1. Note the use of the word "usually" several times above...nothing is written in stone !!!
2. I would only play with companies you wouldn't mind getting stuck with should the play not work out
3. You take what the market gives you...be disciplined !!!! Form a plan and stick with it.
4. Personally, I will be considering a entry between $150 to $1.55 and will be out the same day or before the end of the week should I play. note, I may not play at all !!!!!!!!!!!!!!!!! I also will take no responsibility to update this....DD is your own....but it could be fun to just play on paper...that way no risk to capital.

Anyway...something else to watch on our monitors as our Cytori saga plays out.

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Congressional testomony time 10 Apr 2018 10:18 #11659

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Zuckerberg looks funny in a jacket...



Let us know how you did Hedge- Good luck.

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Board moderator and Site-owner. I still regret the day I started analysing the prospects of MacroPore (now Cytori) back in 2004- a left-over from the tech-bubble at that time from the century change in my portfolio- and became addicted to Cytori´s fat cell technology. :cry:

Congressional testomony time 10 Apr 2018 10:39 #11661

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lol...Thanks Fas
Xi speech last night kinda screwed things up a bit as everything was looking good with even early AH action had FB down....but we will see what happens as it plays out.
2:15PM today and 10AM tomorrow are the scheduled times for testimony.

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Congressional testomony time 10 Apr 2018 16:32 #11662

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Well didn't quite work out as planned with the big strong market moves due to the Chinese President Xi Jinping appearing to offer a olive branch in trade talks.
Around the lunch hour ( eastern DST) FB was $159.XX area and the hour before FB mostly trader $1.60 to $1.61 area.
I did amend my target buy area ahead of what is usually golden hour given the strong markets but never got a fill. (There is that "usually" word again, LOL)
Recent overall market volatility hampered my thinking I guess.
For those who were less price sensitive a 4 to 5 point gain was still possible with FB holding over $165 by the close.

Regardless, what I wanted to share with the lodge is the technique.
A little extra pocket money never hurts but always keep in mind the suggestions in the first post of the thread and any individual specifics and risk any individual company may hold.
Good Luck !

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Congressional testomony time 10 Apr 2018 22:31 #11665

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I had the same exact idea but acted the day before. Bought 100 out of the money this Friday calls struck at $172.50 for $0.15. Sold 40 at $.50 during the testimony to book a profit. Still holding 60 Calls.Hopefully it gets interesting tomorrow.

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Congressional testomony time 10 Apr 2018 22:34 #11666

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WooHoo WST !!!!!!!!!!!!!!!

$$$$$$$$$$$$$$$$$$$$$$$$$

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Congressional testomony time 11 Apr 2018 14:53 #11672

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Closed it out. Nice trade but no killing. I'll take it.

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Congressional testomony time 11 Apr 2018 20:28 #11674

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Absolutely !!!
Usually a easy play.
Let the government really for us...LOL I remember every time Bush 2 was going to talk about ethanol ...you could scalp the players once a week sometimes.
If I remember correctly PEIX was a favorite back then...even Bill Gates was a supporter.

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