Quote from neke:
Weekly Update for week 32 ended 10/05/2007
Another good week. Once again kept the number of trades low, focusing only on what I thought were good potentials, with not too big a leverage; will step up as the good results roll in.
The keynote trades were in BIDU and RIMM playing on their strong momentum days. On Tuesday, BIDU was upgraded with a lofty target after coming down in prior sessions. Bought 20 contracts of the OCT 310 calls, stayed with it all day and overnight, closing it on Wednesday morning for gain of 19K. Then on friday, after the good earnings from RIMM, bought 30 contracts of the OCT 100 calls, again netting 12K.
The positives were tempered by losing trades in some china plays. LDK: Bought the calls on Wednesday afternoon hoping to do a swing trade after the pull-back. Was hit by a precipitous sell-off one hour after I entered. Searched in vain for the news. Only discovered after the close of potential accounting issues. Was able to get out the following morning after losing 50% of the premium. Glad the exposure was small. EFUT: That silly china play fooled me into stopping out with a loss of 5K, before going on to close the day at fresh highs.
Withdrew 10K for the month ended September 30.
It is still a long way from the trend line, but it is important to keep disciplined and trading those high probability set-ups. I am in the process of adding an extra automated strategy. For some time now I have de-emphasised / hardly traded the automated. AUTOTRADE1 used to be good until a big drawdown in the July/August time-frame when the market tanked, taking that long-only strategy with it, and I shut it down. I could probably have gained from the the re-bound, but until I work out modifications to the strategy, it will remain closed. AUTOTRADE2 is a short-only strategy, the market recently hasn't lent itself to profitable shorting, even as I tightened the conditions to be met before shorting: so no trade has executed in several weeks. AUTOTRADE3 failed right from the start, and I wont trade it until appropriate modifications are made.
Looking forward to next week, and to the start of earnings season. I hope there could be some more action, and profitable opportunities.
(The gainskeeper statement in the attachment does not include my 13K gain from friday)
Code:Balance B/F: 121,689 Gain for the week 38,255 Cash Withdrawal -10,000 ------------------------------------------------ Balance C/F: 149,944 Number of Trades 21 Number of Profitable Trades 11 Since Inception of Thread 2/25/2007 - 10/05/2007 Balance B/F: 76,636 Net Gain (Less Margin Interest) 134,308 Cash Withdrawal -61,000 ------------------------------------------------ Balance C/F: 149,944 (Adjusted balance before withdrawals is 210944, up 175% ) Number of Trades 843 Number of Profitable Trades 484 Expected Balance at this time to be on track for Year-End Target : 299,799 Status: Behind Target (Based on adjusted balance before withdrawals) Top/Bottom Discretionary Trades for the week TICKER ENTRY DATE/TIME EXIT DATE/TIME QTY PURCHASE AMT SOLD AMT GAINS/LOSS TYPE BDUJA 2007-10-02-09-36-41 2007-10-03-10-15-32 2000 30000 49400 19339 BIDU OCT 310 CALL RULJT 2007-10-05-09-43-39 2007-10-05-15-52-36 3000 29700 42150 12384 RIMM OCT 100 CALL --------------------------------------------------- LDKJM 2007-10-03-14-38-10 2007-10-04-09-31-22 2500 9650 5040 -4678 LDK OCT 65 CALL EFUT 2007-10-03-12-58-54 2007-10-03-14-07-47 2000 59200 53900 -5321 LONG (Before Interest and Other charges) TRANSACTIONS ANALYSIS FROM 2007-02-25 TO 2007-10-06 Current Week | Since Inception of Thread | Method Gains/Loss No Of Profitable | Gains/Loss No Of Profitable Trades Trades | Trades Trades Automated AutoTrade1 0 0 0 | 5548 207 115 AutoTrade2 0 0 0 | 3372 12 8 AutoTrade3 0 0 0 | -4523 3 0 ----------- -------- ------------ | ----------- ------ ------------ Total Automated 0 0 0 | 4397 222 123 ----------- -------- ------------ | ----------- ------ ------------ Discretionary Long -5693 10 5 | -34611 229 134 Short 397 2 1 | -49991 218 126 Options(long) 43372 9 5 | 215383 184 101 ----------- -------- ------------ | ----------- ------ ------------ Total Discretionary 38075 21 11 | 130781 631 361 =========== ======== ============ | =========== ====== ============ Net Totals 38075 21 11 | 135177 853 484 =========== ======== ============ | =========== ====== ============
Good performance notwithstanding the large drawdowns.