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Sep 1st Trading Log (Recap and Thu Trading Plan)

 
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arthur
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PostPosted: Wed Sep 01, 2004 12:17 pm    Post subject: Sep 1st Trading Log (Recap and Thu Trading Plan) Reply with quote

Sep 1st Trading Log (Recap and Thu Trading Plan):

Basically, I sold some calls and bought puts on bounces. All my calls rose, while all my puts (except DIA) fell. OIH (oil index) rallied big yesterday and today, and rallied on anticipation of even higher oil prices. However, OIH is near short-term resistance (i.e. previous recent tops and Sep Max Pain of 72.50). EBAY continues to rally strongly. I noticed, internets tend to rally to extreme levels, and then fall sharply and quickly. The employment report before the market open tomorrow may move the market. Also, INTC's mid-quarter update is tomorrow. I plan to stay heavy in cash and take advantage of volatility, to buy or sell. SPX is near its 200 day MA, and may still fall to 1,080 to complete a bullish inverse head & shoulders pattern.

My portfolio is at $885,000 including about $745,000 in cash.

Calls Contracts

SMH Jan 30 2005 100
INTC Jan 22.5 2005 200
RMBS Jan 10 2005 10
PSFT Oct 17.5 2004 70
PSFT Oct 20 2004 100

Puts Contracts

DIA Oct 100 2004 100
OIH Sep 75 2004 170
OIH Oct 75 2004 20
OIH Jan 75 2005 20
EBAY Sep 90 2004 20
EBAY Oct 90 2004 10
PSFT Oct 17.5 2004 10
PSFT Oct 20 2004 10

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