Weekly Update for week 40/50 ended 10/17/2009
An OK week, up 28K (5%). Lots of moves up/down. It is interesting one or two trades could have made the difference between an OK week and a stellar one.
Managed to stay alive on Tues, when it could have been either a disastrous day or a very nice one. Bought 2000 ISRG @ 256.50, betting on a good appreciation after the upgrade. Added extra 2000 shares as the stock pulled back to 255. Watched till about 11am and could have closed it out as it was not confirming my expectation, decided to give some more time. To my horror, checked about 15 minutes later, and the stock was down to 246 and cruising down fast. Exited for a loss of 38K. (The stock later bounced back some within the day). Fortunately I bough 200 BIDU 410 calls earlier on when it went down at the open. It later shot up significantly and I closed it for a 49K gain.
Friday, was careful to avoid anything stupid on expiration day. Put in a trigger to get some GOOG calls if the stock price drops below 544 at the open after th earnings. It didn't happen as I watched the stock go up. Finally, bought the 550 CALL ( 100 car @ 4.00) when the stock was about 553.4 (almost the top) at 12.30pm, another 100 car @ 3.50, and watched the reward for my stupidity as the market makers started plunging that stock to pin it back to the 550 strike. Got out at 2.10, losing 33K. Can't believe it was the same GOOG that hit me last month on expiration.
More caution as we go into the avalanche of earnings next week. Got more than 10K from my automated trades.
An OK week, up 28K (5%). Lots of moves up/down. It is interesting one or two trades could have made the difference between an OK week and a stellar one.
Managed to stay alive on Tues, when it could have been either a disastrous day or a very nice one. Bought 2000 ISRG @ 256.50, betting on a good appreciation after the upgrade. Added extra 2000 shares as the stock pulled back to 255. Watched till about 11am and could have closed it out as it was not confirming my expectation, decided to give some more time. To my horror, checked about 15 minutes later, and the stock was down to 246 and cruising down fast. Exited for a loss of 38K. (The stock later bounced back some within the day). Fortunately I bough 200 BIDU 410 calls earlier on when it went down at the open. It later shot up significantly and I closed it for a 49K gain.
Friday, was careful to avoid anything stupid on expiration day. Put in a trigger to get some GOOG calls if the stock price drops below 544 at the open after th earnings. It didn't happen as I watched the stock go up. Finally, bought the 550 CALL ( 100 car @ 4.00) when the stock was about 553.4 (almost the top) at 12.30pm, another 100 car @ 3.50, and watched the reward for my stupidity as the market makers started plunging that stock to pin it back to the 550 strike. Got out at 2.10, losing 33K. Can't believe it was the same GOOG that hit me last month on expiration.
More caution as we go into the avalanche of earnings next week. Got more than 10K from my automated trades.
Code:
Opening Balance: 534,697
Net gain for the week 27,619
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Net Balance: 562,316
Number of Trades 31
Number of Profitable Trades 22
Since Inception of Thread 01/10/2009 - 10/17/2009
Opening Balance: 320,064
Net gain (Less Margin Interest) 242,252 (Up 75.7%)
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Net Balance 562,316
Number of Trades 1050
Number of Profitable Trades 665
TICKER ENTRY DATE/TIME EXIT DATE/TIME QTY PURCHASE AMT SOLD AMT GAIN/LOSS TYPE
BPJJB 2009-10-13-09-51-46 2009-10-13-11-38-52 20000 137000 186000 48714 BIDU CALL
GPYJR 2009-10-14-09-41-25 2009-10-14-11-35-29 20000 92000 115000 22723 GS CALL
DRIV 2009-10-12-12-24-11 2009-10-12-14-10-53 20000 513000 527047 14012 LONG
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GOPJY 2009-10-16-12-29-40 2009-10-16-13-28-54 20000 75000 42640 -32656 GOOG CALL
ISRG 2009-10-13-09-33-36 2009-10-13-11-13-21 4000 1023000 984700 -38346 LONG
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