friday-d-day and long weekend coming up

tumultous week. my long positions not doing so well, especially HPQ, but otherwise i am ok. i bought a bunch of calls on MER (merrill) and NUE (steel). first time in a while that i am buying on valuation. Mer at 44 is damn cheap and NUE at 74 is insane cheap. if they don't bump up on Friday, i might hold them till next week. my Oil short on USO went very well. I might become an Oil day trader yet. NYMEX here i come !!!

going out for a couple of beers. tomorrow is my Dad's graduation from Executive MBA program. Shout out to my 60 year old Dad for putting in the 2 years of work.

i feel good

i woke up in a grumpy mood, because i didn't get much sleep last night and looking at the market i couldn't tell dinky donkey shit which way it was going to go or what to do. plus i didn't really care and so i sat there watching CNBC idiots. DRYS was going up nicely and my STLD puts, which i was afraid about, were within the strike zone of small loss. I said "what the hell" TM, put in sell orders for both for prices which i thought were reasonable and went back to sleep.

i get up at 1:30pm and both my orders are sold and at the BEST prices of the day. DRYS only went .50 cents higher from where i sold it and STLD's low of the day was where i sold and then it zoomed off in the opposite direction. I RULE !!!

sadly, my MER and HPQ calls are taking a beating. MER i am still optimistic about, but HPQ i think i will have to take a loss of 1-3K. thank GOD, i only went into earnings with 20 calls, i had 30 the day before. but, see that was good RISK management. YAY me !!!

over the afternoon my mood has improved and mostly i fooled around reading blogs and tormenting AAPL longs on the Yahoo message board. that's my favorite hangout to talk shit. I bought some NUE calls hoping for a bump and also shorted OIL, by buying puts on USO. Nue i had a chance to sell at close for decent profits, but a little birdy called GREED was chirping on my shoulders. oh well, i do have to pay my parking tickets somehow.

i need cigarettes. ran out last night. ate some indian candy for lunch.

not much happening 2

earnings season rolls on and i am still too scared to play anything much. i bought a bunch of Netflix (NFLX) because a 26% drop for such a good company is unwarranted. but, it's a bump play, hopefully i will be rid of this by Friday. as a long term buy it's not attractive at $30. my NCC play from yesterday, made some small change and i realized i had played it wrong. I should have bought stock, and it being at $6, i could have afforded it and got about 30/40 cents on it. oh well. DryShips (DRYS) is going all out for RIG. great play, i like that company a lot, so i'm gonna keep a tighter eye on it. Oil is insane. I looked at shorting it, but the options on USO were frightening. I am not sure i have enough expertise to play this field reliably, but i would love to short Oil.
that's all folks, at this rate Ramen is what i will be eating soon :0

im in a world of shit

so i took 2 days off and i come back and the market is up huge and i look at BNI and MON (monsanto) and i see the good news, upgrade and stock buyback respectively, but they seem overbought and i short them. later in the day it also looks like RS (reliance steel) is running up way too much, so i short it also. i completely missed all the high's on WB (wachovia), which all happen in the first 15 min's of the day and sell it for a dismal .20 cent/share profit. argh! i had planned to hold it for 2 weeks, but lost confidence/nerve in just 2 days.
then i happen to watch "fast money" on tv, it's on at 5pm and it's very very good, and it finally crystalizes why the market is up so much. all the earnings are good, traders are happy, there's no recession...further bad news for me, ibm great earnings, even worse news, i didn't realize NUE and RS are reporting tomorrow and they are sure to be good earnings and my RS puts are gonna get blown out, probably along with all my other positions, because, all together now, THE Mudder Fudging Earnings are ALL GOOD !!!
i still think we are setting up for a downtown, but we may not get it till Friday or till next week. Oil is way too high...but it doesn't matter, if all my current positions get blown out, i.e. i could have bought the same things for cheaper.
Pray for me and now to get full blown shitfaced (actually i was planning to do that anyway).