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Sep 3rd Trading Log (Early Recap and Fri Trading Plan)

 
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arthur
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PostPosted: Fri Sep 03, 2004 12:02 pm    Post subject: Sep 3rd Trading Log (Early Recap and Fri Trading Plan) Reply with quote

Sep 3rd Trading Log (Recap and Next Week Trading):

It's been a tough trading market over the past few weeks. I made mistakes, in my trading, which proved costly. I should have hedged the SMH and INTC calls with QQQ puts instead of DIA and EBAY puts. Also, OIH puts didn't hedge DIA puts. Morevoer, INTC wasn't fully discounted. I plan to buy SMH and INTC Jan calls and sell puts on dips, and sell some calls and buy Oct puts on bounces (rather than Sep puts, since volatility is low). Perhaps, volatility will pick-up next week with Labor Day and 9/11. The TICK 100 unit MA fell below its 200 unit MA today, which may be bearish short-term. Also, the Oscillators are near overbought. Updated Top Stock Picks section.

My portfolio is over $800,000 including about $405,000 in cash.

Calls Contracts

SMH Jan 30 2005 300
INTC Jan 20 2005 200
INTC Jan 22.5 2005 500
RMBS Jan 10 2005 20
PSFT Oct 17.5 2004 70
PSFT Oct 20 2004 200

Puts Contracts

DIA Sep 102 2004 600
DIA Oct 103 2004 200
OIH Sep 75 2004 500
OIH Oct 75 2004 50
EBAY Sep 90 2004 150
EBAY Oct 90 2004 130
EBAY Oct 95 2004 50
PSFT Oct 17.5 2004 10
PSFT Oct 20 2004 10

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