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Aug 26th Trading Log (Recap and Fri Trading Plan)

 
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arthur
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PostPosted: Thu Aug 26, 2004 12:10 pm    Post subject: Aug 26th Trading Log (Recap and Fri Trading Plan) Reply with quote

Aug 26th Trading Log (Recap and Fri Trading Plan):

Basically, I bailed out of the KKD straddle, for a big loss, bought SMH and INTC calls on dips, traded EBAY puts, and hedged with OEX and OIH puts. The GDP report tomorrow morning should move the market, along with some profit taking before the weekend. The intermediate-term indicators (on page two of Chart Room) are bullish, while the short-term indicators (e.g. TICK MAs and Oscillators on page one of Chart Room) are bearish. Perhaps, the market will fall tomorrow. I plan to buy SMH and INTC long-term calls and sell shorter-term puts on dips. If the market rises higher, I'll buy QQQ or EBAY puts. EBAY may lead the market, and may fall to 82 sometime before Sep expiration. The current low volatility market continues to be a tough trading market.

My portfolio is about $890,000 including about $750,000 in cash.

Calls Contracts

SMH Jan 30 2005 100
INTC Jan 22.5 2005 100
RMBS Jan 10 2005 10
PSFT Oct 17.5 2004 100

Puts Contracts

OEX Sep 545 2004 10
DIA Sep 102 2004 100
QQQ Oct 35 2004 200
OIH Jan 80 2005 10
EBAY Sep 85 2004 60
EBAY Sep 90 2004 10
PSFT Oct 17.5 2004 10

Portfolio at $500,000 on Jul 1st, 2003
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