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PeakTrader.com Economics, Portfolio Optimization, and Technical Analysis
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arthur Guest
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Posted: Mon Aug 16, 2004 1:00 pm Post subject: Aug 16th Trading Log (Recap and Tue Trading Plan, Updated) |
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Aug 16th Trading Log (Recap and Tue Trading Plan):
I sold SMH calls and bought DIA & QQQ puts on bounces, and bought SMH calls on a small pull-back. SMH fell from its high this afternoon. The market rallied on low volume, SMH didn't lead the rally, and the Dow rallied to resistance (i.e. near 10,000). So, I tend to believe the market will continue its downtrend over the next few weeks, although this week is options expiration week, which is typically a volatile week. If OEX rallies to about 530, this week, that may be an opportunity to buy Aug or Sep in-the-money puts for a quick trade. The performance of SMH may determine market direction (SMH seemed to follow the market higher today rather than lead the market). Updated the Top Stock Picks section.
My portfolio is over $885,000 including about $665,000 in cash.
Calls Contracts
SMH Nov 32.5 2004 500
SMH Jan 30 2005 200
SMH Jan 32.5 2005 400
Puts Contracts
QQQ Sep 35 2004 100
DIA Sep 100 2004 100
DIA Oct 98 2004 100
Portfolio at $500,000 on Jul 1st, 2003 |
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