Sold DXO @ 3.18 (cost was 2.39) (This position had gotten HUGE)
Sold TAN @ 7.45 (cost was 5.90)
Sold PAAS @ 17.14 (cost was 12.10) (I got rid of the covered calls I sold for $0.85 for $0.15)
Metals look to be breaking down HARD so all I have left is SLW and AA and both are 100% covered right now so declines do not hurt me.
I also added SRS at $40.25 and FAZ at $16.30.
I am not positioned back to the dark side where I belong.... FINALLY!
Dow 8000 seems a good a time as any to be pointed that way.
Friday, April 3, 2009
Thursday, April 2, 2009
I know I spend alot of time on Gold, but...
Is this a bullish descending wedge, or a breakdown about to happen?
Amazing Day
3 hours to the close, and my accounts are "breaking out", owed mostly too my mega-long energy positions. Even with OIH being partially covered up and GDX being down big today, my trading account is up well over 10% today, and the rest of my accounts are all solidly in the green!
I don't want to jinx it...
I don't want to jinx it...
Wednesday, April 1, 2009
Added more DXO at $2.63
I talked about the trendline on DXO in my last post.. We got another test of it today and I couldn't pass it up.
I raised my average from $2.31 up to $2.39 with the purchase but added 40% to my position.
If the trendline breaks I am out of the whole position.
I raised my average from $2.31 up to $2.39 with the purchase but added 40% to my position.
If the trendline breaks I am out of the whole position.
More option writing
Wrote GDX covered calls, April 41s at $0.75. If they want to take it at 41 from me that will be an 11% profit in three weeks.
Trading/Investing Bloggers
I am tired of bloggers out there bullshitting their trades. When these traders have a good idea but it doesn't go their way, they blow smoke up our asses about how they "got out of that trade" or intimate that position size wasn't as big as they first indicated. My favorite is "averaging down" or posting 2 hours after the move was made that they "got out in time".
Listen, my trades blow up all the time. But at least I am honest about it. Maybe that won't get me 10,000 comments on each my blog posts like others, but you sure know what the truth is.
Most bloggers have great ideas, but I think the need to keep readership (and ad revenue) high ends up affecting the truth too much.
Just come clean. Say you lost $100,000 today. We can all relate to you at least some point in our trading career. Pride is a powerful thing!
Listen, my trades blow up all the time. But at least I am honest about it. Maybe that won't get me 10,000 comments on each my blog posts like others, but you sure know what the truth is.
Most bloggers have great ideas, but I think the need to keep readership (and ad revenue) high ends up affecting the truth too much.
Just come clean. Say you lost $100,000 today. We can all relate to you at least some point in our trading career. Pride is a powerful thing!
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