2011.09.23

trades: i am making the brokerage house rich with the trades Buy SPY 113wC @ 0.56 Sell SPY 113wC @ 0.77 +0.21 +178.76 Comm: $31.22 ROI=178.76/575.605 = 31.1% [ used limit ] Buy SPY 114wC @ 0.26 Sell SPY 114wC @ 0.39 +0.13 + 98.78 Comm: $31.22 ROI= 35.8% [ used trailing limit. should have put limit @ 0.49 ] BUY and missed the second entry :( and lost the big move.. once again too early....

down another 40 pts

today has been a roller coaster day. and its hard to trade while having a full time job.

at least i manage to do two things:

1. scalped for break even with a buy of SSO: 100 : @ 38.12 and sold @ 38.15 which was a crap for a +$1.04 (LOL>>>>>) wiht all the losses for tens of thousands i made a profit of a dollar....

2. entered SSO again @ 37.95 ... not sure what i would do.. probably looks like a better thing to do is to sell a call (which seems to be real ripe ..) the $38 OCT is going for $3.25 i mean that's 325$ on the investment of 3800 (8.5526%) on the month. provided that it stays above $38 by OCT 21 2011. which i am pretty much sure it does.

today's trading day may have touched the intra day low of 111.30 [ which is above the 110] we reached after the collapse after S&P downgrade.

as i have been always i have been:
1. too early on selling (one with profit)
2. too early to buy (which sweats me )

having said that that's exactly what happened:

i closed my SDS(-1%) and TWM(3%) yesterday. had i held it till today i would have made about 3%(SDS) and another 7% on TWM but ... no regret there.


now the bigger issue is i got into 125 calls (jan 2012) yesterday close. of course it was really painful seeing the 40points drop today which took away 1/3 of my protfolio.

at this point i am holding couple of longs ... and a [ hedged short/long ] position.


i am not sure what i would be doing tomorrow... but obviously i would like to sell call against my SSO :D and see if i can make money on that.. or i would rather just close my position but it seems rather profitable to just sell the call if the market has found on new legs to walk on :D

What has Changed

Between Monday and now what has changed; in short nothing may be that's why we are back to where we started :D

but it surely has been a roller coaster ride.

Market Trend- 2011.08-06

i have started to jot down about this wild roller-coaster.

1. this market is totally rigged.
2. what is the reason we went back up on 2011.08.05 after 200pts drop. will be interesting to know. i am sure it not the downgrade of US debt by S&P that means that there is something else in the making.