October is almost over. I don't thing there has been a month that I have anticipated for so long, and messed up so badly. I had it all planned from the beginning of the year, the first stage was to build up a little cash before hand, buy a few momentum stocks on margin, run them up a point or two, sell calls and let them get called. I should have had a bit of cash ready by May or June.
Only trouble is March caught me still in the margin phase, so I had to bail and whittle down positions and give up options and wound up with the summer over, no cash, and still owing a bit to the margin man.
I nickle and dimed some covered calls, but nothing was returning enough premium to make much difference. Finally I put in lowball calls for Sept on some good stocks, got the stocks called away, and sat with the cash like a vulture with obituary notices.
Here it came, October, right on schedule and sure enough good companies were getting shot right and left for no good reason. I swooped in, too early. This rolling sector tactic really caught me by surprise. I picked up stocks after a little hit which promptly got their big hit. Bing, bang, boom, sector after sector rolled over just as I entered my positions. Cut the losses with naked puts, and now October is almost over. 10 months of the year gone by, with more cunning planning and maneuvering than I had done any previous year, and I wind up in about the same position I started the year. They never pass out the treats on Halloween until there has been a lot of screaming in the fun house.
TP |
