Thursday, January 15, 2009

dismal week is turning out good

the dismal part is in lamentation for my IBM loss.  it's done. i'm over it.

as you know, my GS puts were looking very good last night.  the only question was at what level to sell them.  i'm thinking 70% gain, dream of 100%, but nah that won't happen.  in the morning i dilly-dally in my bed.  i'm pretty sure the market's are gonna go down and i want to give them some time.  the bottom's usually around 10-10:30 and probably for this day they will go down for some time.  the sun is shining on my face.  i'm half dozing, kinda worried.  my phone rings.  it's a job recruiter.  it's 10 a.m.  bless him.  he woke me up at the perfect time.

i run to my computer.  quick look at the indices.  carnage.  i log in feverishly.  i take one look at the quote and hit the sell button.  100% return.  no if's, and's or but's.  i don't even think.  i don't care where it goes from here.  that's an instant sell.  thank you GOD>

so i sit there watching and it's going lower.  i'm thinking things have to bounce.  i want to buy the calls right away, but i do due diligence.  check the news, other stock quotes.  i come back and it's gone up a little.  pull back a little bit for me sweety.  it's so close to my buy price.  i don't get my price.  fuck it.  i'm not going to risk it.  i am going back to bed, with my 100% gain and no worries hanging over my head.

i wake up in the afternoon and things are going back up.  strong.  the whole day would have been good for daytrading.  it went up, then down and then a strong up. it was 1:30 pm and i quickly decided that the rest of the day needed to be spent at Murky coffee house.  2 hours of bliss coming up.  that is if watching the tape turns you on.

it's frigging freezing out there.  i get coffee.  two cute college girls sitting across from me.  they're organizing their future.  how cute.

it's too late for me to participate in the rally.  and i don't like it anyway.  i've seen days like this before.  i'm ready to short.  i calculate various price levels for GS.  76 is heavy resistence.  76.5 is optimal.  high from last day.  highly unlikely it rallies past that point.  i get in at 75.8.

that's the hard part.  now sit back and watch the tape.  it only came close to 75.8 once, rest of the time, it just trended lower.  i calculated sell levels.  watched like a hawk.  swooped.  nice.  +2 points.

it trended lower for a little bit more.  then it jammed higher and i shorted it again at close.  C's reporting tomorrow and it's not going to be good.  their management sucks, board sucks, assets suck.  i'm a little uneasy, but what the hell.  no guts, no glory.

AH, the news is mixed.  BAC moved up it's earnings date to tomorrow morning.  and it seems they will be getting more money.  TARP II passed.  it's a mixed bag.

it's 11:55 pm and i am going to get a late night beer.  need to clear my head.  relax a little.  sleep.  tomorrow is going to be another fun day.

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