Friday, June 27, 2008

a chart for you

various worldwide indexes:

Friday, June 13, 2008

all liquid....phew

i woke up early and plotted my strategy, which basically was all about selling everything. only question was prices.

i sold NUE at open for a small profit, although it spiked higher by $1. that was on news on STLD, which i missed. i sold BNI at a pretty fair price. I sold DRYS at a fair price. AAPL spooked me at the open when it dipped like mad. i sold it when it stabilized but not near the best prices of the day.

in the afternoon i slept to give the rally some time to form.

late in the day i shorted GS. not the best move, given that the weekend will eat some premium, but it flew so high that i felt some action was necessary. also, by mistake i bought July puts, so i will be lucky to break even on Monday.

it's fridayyyyyyyyyyyyyyy........

Thursday, June 12, 2008

just awful

i sold my MER calls at open, was trying to sell my NUE but got too greedy. NUE crashed, AAPL crashed bad (on little news), BNI went down and DRYS went further down.

basically, i was long all of these and everything has drastically gone against me. so now i am in the red on my initial investment.

this is so like the decline in Feb., everybody kept on thinking now things will get better, but every damn day was a downward spiral.

i am liquidating everything tomorrow. start fresh next week.

Wednesday, June 11, 2008

getting screwed

well i wished evil and it came true. i was talking to my family over the weekend and i told them i wished for a complete meltdown of the markets, so that people could suffer. well, my wish came true as the market melted today. unfortuanately, my account was one of the one's that melted also.

what can i say ? i woke up in the morning and i could feel the storm building and i just couldn't sell, especially BNI down a $1 in premarket, i felt, i hoped that somehow we would pull through. total catastrophe. BNI dropped $4 in 30 minutes and overall dropped $7...unbelievable move !

DRYS also went down $4 and NUE is barely holding it's head above water. add to that i bought some AAPL calls, which are under by $2 and some more MER, under by .50. i just thought we would rally at the close...instead we went lower.

awful markets....BUT, i think we are oversold...i only wish i had more than 1 week till options expiration. that's gonna be killer.

now to get drunk, because you don't lose money like this every day :)

Tuesday, June 10, 2008

more laziness

i slept late and upon waking up at 11am was pleasantly surprised to see my RS puts had been sold at the price i had set yesterday. nothing like profit early in the morning.

i bought some DRYS calls but $2 from the low. it's made a strong move to the low. eeks ! bought some NUE calls at the bottom. it was down $3.5 and at that point i felt it was majorly oversold. i tried to sell them at the close, but i just didn't get my bid and since i am already up on them, i don't mind holding them another day. i bought some BNI calls at the close, but i think this stock is trending down also.

i get the feeling people are unsure of direction. oil IS breaking though.

it's so hot and muggy in DC. such is life.

missing journal mon. june 9

i was so tired from NYC that i slept at my parents place and woke up at 11am. i then lazed around the rest of the day and made some trades which turned out well.

my family life sucks. everybody's fighting.

Friday, June 6, 2008


i was in the IB chat room and i saw the unemployment report and the oil action and i knew this was going to be a huge down day, one of those, where we go down the whole damn day....and i called it 400 points down on the DOW.

did i get it right ? Hell Yeah !!!

as you know, i had a bunch of puts and i made money on all of them. i didn't make mad money though, because some i sold too quick, like BNI and NUE and others like STLD, just wouldn't die. infact, in the morning both my STLD and MON positions were well against my position. MON in particular caused me a lot of heartburn and actually did not break till the end of the day, although i sold earlier for nominal gains.

while, i knew that the full impact would come at the end of the day, but still it was a tough day to hold through, so what little (NOT) i made is still welcome.

i would have made much more playing the volatility, but my family kept on distracting me with chatter. SIGH !!!

BTW, oil over 130 is very bad for US economy and around 150 is complete decimation of current levels of the GLOBAL economy.

now we go out to Yuva, for some nice Indian cuisine.

Thursday, June 5, 2008

good day, big tomorrow

i woke up and saw that NUE was up $3 on some good news. Kaching !!! I watched MER at the open and it seemed anemic so I got rid of it also. Financials like GS and LEH were flying but MER was sagging. something's going on.

btw, NUE went up $6 for the day. Heavy institutional buying, which anybody with a brain could see coming a mile away. The thinking on my sell early was, look $3 move is average, i have rarely seen $4 moves, so upside seemed limited, while the downside gapped large. a bird in hand, is better than 2 in the bush. Eh!

Rest of the day I shorted some stocks. I am worried about my NUE short and also, my first MON short, which was initiated at a horrible juncture. Sigh!

I am going to NYC tonight, so tomorrow I trade from Manhattan, Upper East Side BABY ;)

Wednesday, June 4, 2008

facebook mania

i spent most of my day fiddling around on facebook...i am a newbie convert and i found a bunch of my friends from my vacation to Costa Rica online. Actually, one of them contacted me and that's how i got into it. so cool.

i wanted to buy some RS puts and the spread was 6.3 on a 6.7, so i put in a buy for 6.5, middle of the road. i thought i would get it, because i am a very good scalper of option have to be...especially for out of the money options, never pay the ask. but my order never got filled and the stock tanked big time and so i missed out on making some money. i was thinking of raising it to 6.6 too, damn facebook ;)

at the end of the day i bought some NUE and MER calls, for the overnight bump. i don't see anything drastic happenning in either sector, so they are fairly safe.

I SAW A TORNADO...for real...i have never seen one here in 18 ripped out a bunch of branches from this big strong tree. i could see the wind swirling in the tornado style action. there was a woman running across the parking lot, i almost wickedly hoped to see her fly around...i ran down to feel the force, but the tornado was gone by then.

Tuesday, June 3, 2008

i kick ass

i didn't wake up on time. i woke up at 12:30pm. for some reason i decided to go out for a beer at 12 am in the morning. there were no seats at the bar. i sat on a stool by the wall. like a freak. i don't know why i enjoy doing things like this.

i was sitting there, wondering what to do, when the entire market started tanking hard. i had no idea why. CNBC had no idea why. the interactive brokers chat room i hang in, had no idea why. i don't stare gift horses in the face, so i got rid of my crappy BNI positions right away. then i looked for stocks to short and AAPL was a prime candidate. i shorted and covered 4 minutes 13 seconds later for a $600 gain. then i switched gears and went long MER and MON. i did good on MON, but got scared with MER, what with the whole Lehman thing. i sold that for a tiny profit, although it ripped up fairly nicely later on. i also shorted some Netflix (NFLX), but i think it was a bad position. NFLX is showing upward momentum and if there's something i have learnt in the last 2 weeks, it's DON'T FIGHT MOMENTUM.

overall, a good day.

Monday, June 2, 2008

new start

i feel like a new start. last week i just wasn't into trading.

i sold off 20 BNI 120 put's for break even. i still have 10 of 120 and they are fairly out of the money. also, 10 more of 115 puts which are the worst of the lot. really awfull positions. i forgot there was the last 10 of 130 puts, which actually came through decently.

i sold off my IBM puts for a nice profit, although i left over 1.5K on the table. it dived so much.

i still own my MER calls. it's getting close to getting into financials time.

i tried to scalp BNI for some downside action, but the stock behaved like a young drunk girl. wanting to put out, but not actually doing anything :)

fin. el morto.