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Aug 31st Trading Log (Recap and Wed Trading Plan)

 
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arthur
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PostPosted: Tue Aug 31, 2004 12:19 pm    Post subject: Aug 31st Trading Log (Recap and Wed Trading Plan) Reply with quote

Aug 31st Trading Log (Recap and Wed Trading Plan):

Basically, I took advantage of volatility to buy longer-term calls and then shorter-term calls, sold shorter-term calls, sold puts, and hedged with puts, to keep my portfolio in optimization. OIH and EBAY closed higher while SMH and INTC closed lower. I still believe, SMH and INTC will rally over the final months of 2004. Next week is Labor Day. Normally, during a holiday week, there's a low volume rally. However, 9/11, the GOP convention, and the next Fed meeting, in Sep, may create greater volatility. Also, INTC reports its mid-quarter update Thu, and employment data Thu should move the market. If SPX falls to 1,080, that may create a nice bullish inverse head & shoulders pattern to buy into. I plan to continue buying SMH and INTC long-term calls on dips, and hedge with puts on bounces. Perhaps, I'll eventually make big gains on SMH and INTC calls.

My portfolio is over $890,000 including $730,000 in cash.

Calls Contracts

SMH Jan 30 2005 200
INTC Jan 22.5 2005 300
RMBS Jan 10 2005 10
PSFT Oct 17.5 2004 100

Puts Contracts

DIA Oct 100 2004 100
OIH Sep 75 2004 70
EBAY Sep 90 2004 30
EBAY Oct 85 2004 20
PSFT Oct 17.5 2004 10
PSFT Oct 20 2004 10

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