Oil may have bottomed friday. Gapped down and bounced off of support. Israel/Gaza and Pakistan news out should boost it for next week IMO. "when fundamentals matter" :)
Saturday, December 27, 2008
RE: Oil may have a bit more to fall
Oil may have bottomed friday. Gapped down and bounced off of support. Israel/Gaza and Pakistan news out should boost it for next week IMO. "when fundamentals matter" :)
"Woman says God sent dream to save her"
Another great story that's on the blog. Great reminder that there's more to life than trading and money. Faith in Christ is much more important. "God works for the good of those who love him..."
http://www.modbee.com/local/story/544774.html
Good stuff.
God Bless and hope everyone had a Merry Christmas.
http://www.modbee.com/local/story/544774.html
Good stuff.
God Bless and hope everyone had a Merry Christmas.
Wednesday, December 24, 2008
Wednesday, December 17, 2008
From my previous post......
"I don't see a catalyst for a major drop in the next few as opposed to quite a few ppl. My best gauge being the VIX right now."
This holds to be true as the market rallied almost 400 points on Fed day and held it's ground today. My account has taken a beating due to some HORRIBLE option strangles I place. These positions weren't traded very well because I simply don't know what I'm doing when it comes to this. I kind of screwed up my account. USO has been hurting me as well.
I actually did buy TOL calls yesterday @.25 but sold them @ .55 and then .55 today before they ran to 1.30. This caused a PDT violation and I can't trade anymore :) That's alright because commissions have accounted for almost 1/2 of my gains lol. I'm changing brokers and wont be around for a while.
IN the meantime all I have is 25 USO. Account equity approx 1900. (from 800 still not bad). High was 2200
Be back up and running soon. IMO the market looks bottomed for another reason. We completed a 5 wave down (bear market) and we need a basic ABC now IMO. I've read tons of sites now and none of them have a clue.
VIX and EW (even though I HATE EW) points to higher. Fundamentals have changed a bit as well. Wondering if we'll see a hyperinflation phase in the next year.
Who knows as I probably won't be up and running 100% until after New Years.
Merry CHRISTmas all and have a good one.
"I don't see a catalyst for a major drop in the next few as opposed to quite a few ppl. My best gauge being the VIX right now."
This holds to be true as the market rallied almost 400 points on Fed day and held it's ground today. My account has taken a beating due to some HORRIBLE option strangles I place. These positions weren't traded very well because I simply don't know what I'm doing when it comes to this. I kind of screwed up my account. USO has been hurting me as well.
I actually did buy TOL calls yesterday @.25 but sold them @ .55 and then .55 today before they ran to 1.30. This caused a PDT violation and I can't trade anymore :) That's alright because commissions have accounted for almost 1/2 of my gains lol. I'm changing brokers and wont be around for a while.
IN the meantime all I have is 25 USO. Account equity approx 1900. (from 800 still not bad). High was 2200
Be back up and running soon. IMO the market looks bottomed for another reason. We completed a 5 wave down (bear market) and we need a basic ABC now IMO. I've read tons of sites now and none of them have a clue.
VIX and EW (even though I HATE EW) points to higher. Fundamentals have changed a bit as well. Wondering if we'll see a hyperinflation phase in the next year.
Who knows as I probably won't be up and running 100% until after New Years.
Merry CHRISTmas all and have a good one.
Monday, December 15, 2008
Long TOL puts
$20 strike from 75 last Thursday.
USO I've got 25 shares @ an average of 37 now. I sold 15 @ 39 and change, bought 10 back @ 36.80ish. Bought more today @ 37.14.
COST i've got $50 puts @ 50 and 57.5 calls @ .15 (2 of them).
Account took a 130 hit from the COST options and commissions. So equity @ 2070. No biggie.
I'll probably be down to $2k eventually as I don't see a catalyst for a major drop in the next few as opposed to quite a few ppl. My best gauge being the VIX right now.
As for charts.....i've got much more charting coming from now on :)
USO I've got 25 shares @ an average of 37 now. I sold 15 @ 39 and change, bought 10 back @ 36.80ish. Bought more today @ 37.14.
COST i've got $50 puts @ 50 and 57.5 calls @ .15 (2 of them).
Account took a 130 hit from the COST options and commissions. So equity @ 2070. No biggie.
I'll probably be down to $2k eventually as I don't see a catalyst for a major drop in the next few as opposed to quite a few ppl. My best gauge being the VIX right now.
As for charts.....i've got much more charting coming from now on :)
Thursday, December 11, 2008
MATK was sold by accident BTW
I was trying to buy more @ .50 and I accidently sold it. Was going to go into earnings with a call hedge, but ah well. No position on that.
Shorted 25 COST @ 52.65 for a small daytrade. Covered 1/2 @ 51.76.
Out my cost trade for a loss of about -120
Closed 15 shares of USO @ 39ish. Holding 5.
Bought TOL $20 puts @ .75. Holding till tomorrow probably.
Overall crazy day...head is spinning. Idk what's going on here. COST really pissed me off.
Shorted 25 COST @ 52.65 for a small daytrade. Covered 1/2 @ 51.76.
Out my cost trade for a loss of about -120
Closed 15 shares of USO @ 39ish. Holding 5.
Bought TOL $20 puts @ .75. Holding till tomorrow probably.
Overall crazy day...head is spinning. Idk what's going on here. COST really pissed me off.
COST trade was HORRIBLE
These options got killed as if this things going into expiration. I don't get it. FUCK
MATK out @ .50 from .30 for a 10 gain after commissions. What a waste.
USO rockin...yay
MATK out @ .50 from .30 for a 10 gain after commissions. What a waste.
USO rockin...yay
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