magic journal of doom

Quote from magicz:

sold 10 strangle 29,45 aug of ELN@2.1 this morning.

MYGN: I am not calling a top on this but the 15 point run up from 6/27 till now is not because of money saved from the development of the fail drug. At this point I am not sure exactly what is driving the price up this high, so I'll stay on the sideline on this guy. The options for the current month to me seems to say this will be around the low 50's by august expiration.

JRCC: I am looking forward to its peer earning report this week, ICO, FCL, and the big gun PCX next week. This will give me a good indication how JRCC will react.

ELN: This guy will be in a trading range until the news from their full data release at a bio conference later this week. I am looking for mix result with some positive aspect to keep the trading range intact. if not I am out.
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Also, BTU reports before the bell wednesday. Should be a good indication of where the rest of the sector lies.
<a href="http://biz.yahoo.com/ap/080721/peabody_earnings_preview.html?.v=1">Peabody's 2Q earnings expected to be up (AP)</a>
 
BTW this is my 3 third month trading this account and here is my equity curve. Notice the nose dive was due to 1 trade(JRCC) having a black swan -13 point dip in 1 day.
 

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nothing change since my last post except that my positions are experiencing more volatility then I thought. If i was a day trader this would be heaven right now in the market. certain stocks that I have in my list are jumping +- 5-10 points on any one day.
Earning season is in full force and looks like the coal sector is reaping in some good profit so far, that will bode well for JRCC.
ELN also reported better earnings also. VNDA is getting FDA news anyday now.
 
bought to close 10 ELN 45,29 strangle @1.55...+450

sold to open 10 JRCC 50,25 strangle @1.45 ....-150

the transpose position of JRCC is now short 10 50,35 strangle @2.95 from teh put vertical I had before.

looking to go in to SVNT today at the 22.5, 30 strangle. Also will see where ELN will go tomorrow after the presentation of their data tonight at 4PM EST. I might get back into ELN in early tomorrow morning if the IV is still high.

edit: Sold to open 10 SVNT 22.5, 30 Stangle@1.75.
 
ELN data is out and it's not looking good and the share responded with a 6 dollar dive, from 33 to 27, with very big after hour volume it has recovered a bit to 28.XX but I wouldn't be surprise if it goes to 23-24 tomorrow. The data was massage to give a positive spin on a subset with alz. but overall it did not achieve any statistical significant of its primary goals for this study.
 
Well ELN went to 19s today worst then I thought. I won't be touching this until it digest the news or at all for that matter. Oil jump huge today and that made JRCC rallied as well 4+ points to be exact. Tomorrow is my travel day, I going to Dallas, Texas for a wedding this weekend. I'll probably won't do much till Tuesday, that's when I'll be back. I'll still keep an eye on things but I probably be busy scoping out the bridesmaid. J/K!
 
got home yesterday. SVNT is reporting earning after hours today. I'll wait to see how the trading day is and I might close this out in the last hour. JRCC reported earning yesterday and it wasn't anything out of the ordinary. The price action is still dependant on the price of oil.

Dallas, Texas: daytime 105-110 with 100% humidity, nitetime 95-100 with 100% humidity. This isn't a place for me.
 
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