arthur Guest
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Posted: Wed Aug 11, 2004 5:48 am Post subject: first update |
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Aug 11th Trading Log (update):
I bought 50 SMH Jan 25 calls at $29,500 (about 29 3/4), and bought 200 SMH Jan 35 calls at $18,000 (over 29 1/4). AMGN and MRK are up today. SMH is expected to open low. So, I plan to buy more SMH Jan calls. I may also buy more DIA puts (Oct or perhaps Sep), since DIA is relatively overvalued compared to SMH, and the market will not rally without SMH (I'm still heavy in cash waiting for volatility to pick-up, which will make it a better trading market). The Fed action yesterday may be negative for the market until Labor Day (in early Sep) or until the next Fed meeting in Sep. However, many of the short-term indicators are oversold. Perhaps, the market will bounce later this week on the following reports: Thu - Inventories, Unemployment Claims, and Retail Sales, and Fri - the CPI. Also, see top picks in the Top Stock Picks section. The Home Page will be worked on today in an attempt to add streaming quotes, while keeping the news section.
My portfolio is over $890,000 including about $675,000 in cash.
Calls Contracts
QQQ Dec 34 2004 100
SMH Nov 32.5 2004 100
SMH Jan 25 2005 50
SMH Jan 30 2005 100
SMH Jan 32.5 2005 200
SMH Jan 35 2005 300
ABX Jan 17.5 2005 50
AMGN Oct 50 2004 20
MRK Oct 45 2004 100
Puts Contracts
DIA Oct 98 100
Portfolio at $500,000 on Jul 1st, 2003 |
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