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Weekly Update for week 33 ended 08/30/2008 An OK week, up $4732 (3.9%). Should be a more decent week, but started horribly losing 9K on some irrational trades on HWAY on Monday. Planned Trade Qty to buy: 1000 shares @ 20.70 (contrarian thinking it should rebound, minimal size since...

I did counter-trade Cramer in the early stages of the program (Q4 2005/Q1 2006), and made some decent change shorting his program picks. After that time though, he doesn't seem to move the stocks in after-hours as he used to (people got smarter!), and I didn't do it anymore.

Weekly Update for week 32 ended 08/23/2008 Flattish week, up $593 (0.5%). The week was made of a collection of meagre trades, amounting to a little more than break-even. The emphasis for the rest of the year is sticking to my position sizing plan. Each strategy has a maximum exposure...

That is a neat nice figure. Will keep having that as a target until attained. Congrats!

Weekly Update for week 31 ended 08/16/2008 Nasty week, down 16K (11.8%). Got broadsided by WYNN, with not a lot of positive trades to compensate. On Monday, bought 150 WYNN 110 PUT at an average 2.43 (through averaging in on a loser - pitiful!). Forced out at average 1.24 for a whopping...

Hope to see you in 10+ years time. A lot of people burn out and give up in a year or two. Remember, it is not so much what you will learn in 10 years as what you are going to keep re-learning

That's right. I know I should trade an option only when a certain level of conviction exists on the trade, especially for bigger spreads like the above. Like I said, I should have avoided the trade, but for ... destructive enticement. Once in, it dawns on you this is a bad trade, and you are...

Yes, I agree the spread on that DECK trade was bad (kind of bid 2.8 ask 3.5). I shouldn't have gone in at all. Normally, I enter with the intention of holding for the day. So it is not practical or recommended to commit all my 4-1 on one or two stocks.

Weekly Update for week 30 ended 08/09/2008 Scrappy week, up $797 (0.5%). What should have been a decent week got recklessly blown up on DECK on Friday. Made good gain on Wednesday after PCLN reported. Got early in on the PUT option at 9:38am and soon thereafter the stock declined...

No, it is not gambling. Yes, it felt a bit strange I did not have a revised forecast when making the trade, and I was not aware of the conference call. I am committed to ending the year with a decent gain, so I have cut back on potential killers.

None, other than Yahoo Finance news and CBS Marketwatch (entirely free!)

Weekly Update for week 29 ended 08/02/2008 An OK week, up 6.5K (4.9%). Lots of little gainers adding up. Regret losing 5.5K on SOHU. On Monday bought 600 SOHU at 92 pre-market after what looked like a stellar result, beating the expectations by 52% or so. I was so convinced it was a...

Haha.. I didn't mean to.

Big rewards mostly come with big risks. It is a question of finding out whether you have the "edge" to justify the extra risk. Unfortunately, when you take on too much risk (size), it may be too late before you discover you do not have the "edge" you thought. The cost of over-estimating your...

Weekly Update for week 28 ended 07/26/2008 Solid week, up 24K (22%). Glad to be on the path to recovery. No stand-out gainer, but consistency in gains was key, with very small losses, except CPHD described below. By friday morning I was up nearly 30K, and took a nasty beating in CPHD...

Do you know they report earnings before market opens tomorrow? I avoid speculating before earnings. I know they are going to beat the estimates silly, and guide higher, but it is difficult to say how the market will react.

When you pay yourself a salary, that is deducted as an expense for the company (and therefore not taxable for the company). It is only taxed for you as an employee. You get to retain the rest of the profit in the company (less the 19% or so company tax) which you can use to build up your...

Not sure I would have played FNM or FRE for a bounce. The risk was much. I did play MA for a bounce (OPTIONS), but I went in too early and exited too early (Bought Jul 270 CALL) at 9.30, sold after a few days at 2.00 as it kept going lower. had I held till Friday (day before expiration), I...

I don't think so.

Weekly Update for week 27 ended 07/19/2008 The bleeding continues, down 9.6K (8%). The biggest one was from BIDU (BIDU CALL) on Monday that sent me down 7K. That was pre-mature. Other than that, it was program bugs on Tuesday that sent me down another 3K (Kept buying and selling a certain...