Hello Pezz, Last Night’s Report:
Just a few book-keeping chores of the score-keeping sort, to count blessings and track bounties, in addition to the earlier counting Message 26186238 of blessings
(i) This trade 2009 10 02 Message 25989982 <<i sold a lot of covered call contracts gold miner etf (gdx) december strike usd 43 @ usd 3.50+, thus committing 65% of my gdx holdings to a bearish wager, and had the proceeds placed on usd call deposit, believing that while the usd is worth-less, it is not worthless, at least not yet, and certainly not before onset of 2010>> …
… is now closed with 65% of my gdx called away at 43. Together with the 3.50 call premium earlier collected, altogether a fair trade, and now I am positioned to short puts, massively, at an opportune moment;
(ii) This trade 2009 10 20 Message 26034296 <<(i) shorted a lot of gdx dec covered call strike 48 @ 3.00 …
(iii) sold a bunch of gdx at 47.51 … a bit longer on us dollar and slightly shorter on everything else, before it becomes again fashionable>> …
… is partly closed, with me booking the 3/shr premium as obligation-free and someone else booking a loss. This is altogether a more fair trade than above (i) while also serve to enhance the overall result of above (i) more favorable, in my direction, and thus fairer.
(iii) Again this trade 2009 10 20 Message 26034296 , part two <<(ii) shorted a lot of gdx march covered call strike 50 @ 4.30>> …
… we must wait and shall see whether and how I am to be rewarded.
(iv) The good things about closure are (i) one get to do the deed again, (ii) in better psychology than before.
Ideally, gdx drops to 43 at some juncture before mid-march, allowing me to short some puts at rich premium take, exit the calls at profitable turn. Then I can reload a series of trades to harness the energy of the market place once again, and also setting traps here and laying mines there so that some straggler in the unreal tournament is excused from the last man standing game.
Oh, and yes, hopefully the dollar also ramps, ramps, and ramps some more, to soften up the positions that must be engaged with, captured, held, to better wait for the … eh, I best stop and not get too graphic.
(v) Once the underpinning premise is discerned correctly, the rewards just keeps rolling in, as one harness the energy of the market to and exchange fro, in alignment with the force, choreographed like one of those gravity-defying unreal tournnament warriors of last man staanding gaming, fluid motioned, beautiful, cart wheeling, spinning mid-air, scoring :0)
I best stop, else I would be punished, for I am fearful of the scriptures, all of them, and fear is healthy, panic is rational, terror is delicious :0)
Cheer, tj |
