James-- Very unwillingly I closed out all my remaining trading positions which I had placed between 6-8th Oct, the premiums were too rich to leave on the table, like GE 75 calls or MER 55 or CCI 35 BEN 30's and 40's IBM 120 and 130 NOKA 70 ans 90's and many others like this -- the risk reward and amount of money on the table just did not justify continuing the run with deep in the monies. I will recommend for anyone to shift strikes-- get out of deep in the monies and start playing it cool shift the positions to out of the money, get your cash and on dip enter to buy 'out of money strikes' with deep calender months, that is my strategy..
I started the year with 1,1 (the number of zeros in front I leave it to your imagination - please don't be miser about the number of zeros stretching your imagination would do no harm ggg), was by June 51% higher went down to as low as 19% on 8th Oct but rocketed up from 8th onward..Today at 1598 as NDX retreated from 1600 I thought 'to hell man' why to leave so much on the table, I don't have to be a hero, I asked Ray give me the 'net figure total run' although it is very unlike me-- OJ has given me this habit off late to keep checking, I am becoming a little mean about my performance, he told Ike it is 2,23 from Jan 1st my objective was a 100% return I reached my objective much earlier and was well beyond my target I decided to pull the trigger on 30% remaining positions. JPN and ASEA is not out although all the puts are squared..
I have now gotten out of my trading calls leaving my core portfolio intact-- I am thinking to move my strikes 'outside the money'. ASND EMC MSFT ALA STAYED ON AS THESE ARE LITTLE better placed in terms of breakouts.. I will now look to establish positions on NOK (target 115) and others outside the money calls and deeper calender strikes, I will like the NDX to move to 1555 before resuming the trend I will not re-enter until 1615 is broken twice, however will wait to enter at 1555 if we correct their -- if does not hold 1555 I will try to see what happens at 1520 or 1489 these are my levels where new entrants may enter.
I agree I may be little early to exit the party but my father told me leave the last 5% for other firends I am very happy-- right now I am working on puts strategy, whatever one can say at the end of the day AMZN was down today. I am a contrarian I do what others don't want to do I am bit early have little 48 hours pain but at the end I am proven right, on AMZN my yesterday strategy was to use that as a hedge for my trading core I wanted my trading core to go expiry but it was too temting as I would love to atleast for one night maintain that 100+ result ..ggg
I was making a decent return due to increase volatality towards the end today on py puts but I will not go out now, I am now preparing to play the market on this small move down.. but market shows me the direction my trade at the moment is let NDX take out 1615 or let it test 1555 -- Let market show me the direction if it wants to go higher let it take out 1615 or let it come on 1555, I will add either on a new breakout to 1750 or after retracement..
Party has started for me, I will see my levels on AMZN and I assure you that the play on some of these sectors my not be the way these guys think it is- I yesterday pointed out at 'transportation' as one of my favourite to move for me convergence between 'transportation and DOW' is a must if these bhumbo levels are to maintained, this will happen.. I will watch market like a hawk establish some long puts at the same time buying calls on sectors which I know will run soon and run big, this market is a very interesting market, I have met my objectives this year- I am now lethally poised-- the profits are in and the thread will look out for new opportunities.. JPN calls are still in trade for March and they don't loose premiums but I like your JEQ- I will test it- I will not like a speculative play- for me March and April minimum-- do combo's |
