Well today was so so because I made that dumb google trade and then decided to ride it out over the weekend so I will have to worry about it now.
Never do that! I make these mistakes so you don’t have to.
I should have listened to myself this morning when I was smarter. I even wrote at the time that I was buying it out of boredom on this lethargic stock day so I got what I deserved, which is a 25% loss so far. I still think we are repeating last week’s pattern though so I will be all pleased with myself on Monday when this opens at $395 but it is important to note the pain and aggrivation right now…
Otherwise a great day again! We didn’t get to make our oil trades because we never got a clear signal but I am generally very bearish on the sector in the short term.
We got a double on the OIS 30 puts, always a good thing (always remember, only the trades I specify exacly should be made and even then, see my disclaimer!)
DELL is done going down, we got the move on strong volume so I’m in on the Jan ’07 $30 for $3.10. My goal is to wait until we are close enough to $32.50 to make it worth selling the short calls.
Urban disappointed but was not a trade.
Apple Jan ’08 $50s jumped past my target for no good reason at the open so I’m waiting on this trade but I will make it next week if I can actually get $2 for the December $65s, that drops my net to $21 with a very comfortable spread.
Play was winner for us again today with the $25 options finishing up .15 for a nice 50% return!
TXN was a gift today but may hover near 30 into options expiration – I will be watching this on Monday. Intel is also resting, it’s amazing that the Nasdaq broke 22 with these guys dogging it.
Genz is still a huge winner for me and I’m still not selling.
HET was a little diappointing today but I’ll take it.
SNDK is trying to defy gravity – will be closely watched next week.
SLB is, as I said, too scary to short but if it hits the fan it will be huge!
Whole Foods is working real hard to keep that stock up going into the split, sometimes that is not a good thing… This thing they are doing with developers is brilliant though – put a grocery store underneath my $1m appartment and I’ll pay the $4 for milk and buy the $5 bread – eapecially in the winter, hence the northern locations….
Have a good weekend,
– Phil
