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Sep 8th Trading Log (Recap and Thu Trading Plan)

 
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arthur
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PostPosted: Wed Sep 08, 2004 12:48 pm    Post subject: Sep 8th Trading Log (Recap and Thu Trading Plan) Reply with quote

Sep 8th Trading Log (Recap and Thu Trading Plan):

I made big gains trading DIA Sep 103 puts on about 1/2 point moves. However, my calls fell today. The Dow rallied to its downtrend line (see page one of Chart Room). So, I plan to continue buying DIA Sep puts at over 103 1/2, before 9/11 Sat (next week is options expiration week). It seems, (early) end of the quarter window dressing is skewing the market (e.g. INTC low and EBAY high). SMH is currently at an extreme oversold level compared to QQQ (see chart on page four of Chart Room). Also, the volatility indices are near recent lows, which suggest the market is near a top (see page one of Chart Room). The Transport Index (page two of Chart Room) may be completing a double-top or forming a bullish inverse head & shoulders. I'll post the Top Stock Picks later today.

My portfolio is over $805,000 including over $495,000 in cash.

Calls Contracts

SMH Jan 30 2005 400
INTC Jan 20 2005 300
INTC Jan 22.5 2005 500
TXN Jan 20 2005 40
PSFT Oct 17.5 2004 70
PSFT Oct 20 2004 300

Puts Contracts

DIA Oct 103 2004 200
QQQ Oct 35 2004 200
OIH Oct 75 2004 50
TXN Sep 20 2004 100
EBAY Oct 90 2004 150
PSFT Oct 17.5 2004 10
PSFT Oct 20 2004 10

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