Taking 76K to 500K by Year End

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Quote from damnit:

He stated that the trades occurred after earnings were released which is not gambling. He also seems to have a few different systems working at one time.

You start a journal and show us how it is done if you are making higher returns yourself.

He has been CONSISTENTLY growing his account and large draw downs will occur occasionally.
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Damnit,

funny how you suddenly defend Neke. I am sure he does not need your defense. In any case, I am surprised how you shoot everything and everyone down at first, even without the slightest basis for your reasoning (well the reasoning is often missing altoghether, just look at your first couple posts in this thread). YOu sound like a flag in the wind, moving in whatever direction the wind is blowing. Hope your approach to trading is slightly better. (Dont need to mention your 500k/day, you already do this in every other thread you add your unsubstantiated opinion to. Seems you are happy with such mediocre performance, but I think i already mentioned to you that your result is on equal par with a 1st year sell-side associate doing nothing. But I am happy you are satisfied with your results, not everyone can push for more) ;-)
 
Quote from damnit:

He stated that the trades occurred after earnings were released which is not gambling. He also seems to have a few different systems working at one time.

You start a journal and show us how it is done if you are making higher returns yourself.

He has been CONSISTENTLY growing his account and large draw downs will occur occasionally.
More...

Not maintaining a journal here does not preclude me from commenting here. Neke has thick enough skin. If I feel the need for accountability I will consider a journal.. at this point I am in reasonable control..
 
Weekly Update for week 36 ended 11/03/2007

Nice week, up 29K. Overtraded a bit, but still managed to rake in a good dividend.

The key positive trades were option trades in CROX after its disappointing earnings (when those momentum stocks fall, they really fall!). Made money also buying the strong earnings report from MA. On the negative side, was embarrassed by SCUR, which I shorted based on what looked like a horrible earnings release/forecast: proved wrong as the market thought otherwise.



Code: 
Balance B/F:                   		143,128
Gain for the week 		         29,248
------------------------------------------------
Balance C/F:                   		172,376
Number of Trades	            	 36
Number of Profitable Trades    	    	 20

Since Inception of Thread   2/25/2007 - 11/03/2007

Balance B/F:                   		 76,636
Net Gain (Less Margin Interest)		156,740
Cash Withdrawal		       		-61,000
------------------------------------------------
Balance C/F:                   		172,376 (Adjusted balance before withdrawals is 233,376, up 205% )
Number of Trades	           	 977
Number of Profitable Trades        	 550

Expected Balance at this time to be on track for Year-End Target : 
			       355,533

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

CQJWK	2007-11-01-09-33-56	2007-11-01-15-48-55	5000	21300		40000		18595		CROX NOV 55 PUT
MALKQ	2007-10-31-11-24-52	2007-11-01-11-04-10	2000	13200		30400		17150		MA NOV 185 CALL
-------------------------------------------
HUM	2007-10-29-13-16-14	2007-10-29-15-02-45	2500	188510		182594		-5959		LONG
SCUR	2007-10-29-16-28-39	2007-10-30-09-44-59	15000	140984		131000		-10016		SHORT
							

                                        (Before Interest and Other charges)
                                        TRANSACTIONS ANALYSIS FROM 2007-02-25 TO 2007-11-03

                             Current Week                                    |	Since Inception of Thread
                                                                             |                                           
                Method          Gains/Loss       No Of          Profitable   |  Gains/Loss       No Of       Profitable  
                                                Trades              Trades   |                  Trades           Trades  
Automated       AutoTrade1             105           1                   1   |        5652         208              116  
                AutoTrade2               0           0                   0   |        3372          12                8  
                AutoTrade3               0           0                   0   |       -4523           3                0  
                AutoTrade4               0           0                   0   |      -15301           3                0  
                                -----------     --------        ------------ |  -----------     ------       ------------
Total Automated                        105           1                   1   |      -10800         226              124  
                                -----------     --------        ------------ |  -----------     ------       ------------
Discretionary   Long                -16453           9                   3   |      -59383         261              152  
                Short                 5351          17                   8   |        9747         266              152  
                Options(long)        40067           9                   8   |      217868         224              122  
                                -----------     --------        ------------ |  -----------     ------       ------------
Total Discretionary                  28966          35                  19   |      168231         751              426  
                                ===========     ========        ============ |  ===========     ======       ============
Net Totals                           29070          36                  20   |      157431         977              550  
                                ===========     ========        ============ |  ===========     ======       ============
 

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I assume you monitor appl,goog,rimm,bidu and others for misses and possible shorts?how key is execution on this
 
Quote from Daal:

I assume you monitor appl,goog,rimm,bidu and others for misses and possible shorts?how key is execution on this
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O yes, I follow them and the news around them all the time. Really amazing seeing how GOOG and BIDU seem to defy gravity. All analyst price targets are being hit, and they continue setting new ones. Would be interesting to see when they hit a brick wall. Not likely anytime soon though.
 
I "WAS" happy to get 37 points from BIDU 223 to 260<g>.. Do I let winners run?? Nooooo... That group IS Nasdaq.. when they roll over, so Goes Nasdaq and the overall market as Nasdaq is THE leg holding everyone up.. Shows how easily an entire market can be "supported"
 
Neke,

You say you short (buy puts) on poor earnings reports. How do you do this, as arent the options prices reflecting a gap down on the open of the next day? Or do you not buy at the open?

YIK
 
Quote from YeahIknow:

Neke,

You say you short (buy puts) on poor earnings reports. How do you do this, as arent the options prices reflecting a gap down on the open of the next day? Or do you not buy at the open?

YIK
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I short if I believe it is going down still (even after starting down). Of course I pick my trades. In addition, I do not necessary do it first thing at open. If it is already very depressed I could wait for a "dead cat bounce", or stay away altogether.
 
Do you ever use straddles to trade the news before an earnings annoucement?

Or is this a flawed strategy as the premium paid would reflect volatility on the horizon?
 
Quote from YeahIknow:

Do you ever use straddles to trade the news before an earnings annoucement?

Or is this a flawed strategy as the premium paid would reflect volatility on the horizon?
More...

No I do not normally buy straddles before earnings. My experience tells me the premiums are on the high side most of the times. If there is something that gives me a stronger than normal conviction about the direction after earnings, there I may buy a directional option.
 
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