party poker

Friday, March 31, 2006

Friday Market Recap...

Not a good day today. Let's see, here were my total losses:

GLD -$262.87
AAPL -$145
YM -$445.44

That YM trade represents my e-mini trades. I made about two round trip trades today. I'm still losing money on those damn things. This chat room is costing me a whole hell of a lot more than $450 for two months. I might have go to paper trading before I start playing those e-minis again...

Have a good weekend. BTW...GO MASON...

Out 1000 GLD at $58.11 for -$240

I don't like how it broke yesterday's low, then had no follow through.

$5/$10 NL at Party Poker

I've been playing some online poker over the past few weeks. Not a lot, but just enough to make me some dinner money. I've been multi-tabling $2/$4 NL at Party. I was able to build my bankroll up to about $3,000. Now, I'm playing some $5/$10 with a max buy-in of $1000. To tell you the truth, I've been catching some crazy cards.

I expect the bad luck streak to come soon. It ALWAYS happens. It's just a matter of time before the deck runs cold. I guarantee you that in the next two weeks, I'll be ranting about how I'm getting sucked out on every hand...

"Online poker is not fixed", my ass...

Torn ACL; Torn Lateral Meniscus; Stretched LCL - Not Good.

And the final word is:

- Torn ACL
- Torn Lateral Meniscus
- My LCL may need to be repaired as well
- Surgery in 2-4 weeks

I'm ready for them fix it up.

How did I injure it? Well, I was playing indoor soccer last August. I stabbed at someone and heard a pop. It swelled up, but it didn't seem like anything out of the ordinary. So, I gave it some rest. A few weeks later, our outdoor season started. Anyways, I stuck a brace on my knee and started playing again. It was okay, but I knew that it didn't feel stable, so in one of the games, I planted my foot and my knee gave. It swelled up again and I gave it another few weeks of Rest Ice Compression Elevation (RICE). A few weeks later, I started playing again. Again, my knee gave. Am I an idiot or what? I honestly didn't think that anything was torn though. Finally, our season ended in November...along with me reinjuring it for the fourth or fifth time...

This time, however, I would have the entire winter to allow it to heal. Well, it never healed. So, here I am. Oh well, shit happens. Guess I'll be playing more poker and do a lot more trading in the upcoming year. Gotta look at it on the bright side somehow, right?

Time to get the news on my knee...

Be back in a few hours.

Short 1000 GLD at $57.86

Gap down, then a break of yesterday's low. Good night.

Out 1000 AAPL at $62.53 for +$20

Peanuts.

In 1000 AAPL at $62.51

Double bottom?

Out 1000 AAPL at $63.20 for -$130

Man...I didn't like the 100% retracement of the breakout. It should not have retraced 100%. It means that all of the people who bought on the open are trapped up top right now...I'm going to wait for this thing to settle down before reentering...

In 1000 AAPL at $63.33

I think anywhere close to $63.20 is a good price. We should be going to the $65.46 area.

Morning...

AAPL is forming an upsloping wedge, which means higher prices after a break of $63.20.

GLD is gapping down, which leaves a lot of investors trapped up top. It should be a good short if it can break and hold below yesterday's low at $57.81.

NMGC...I'll be watching this one closely today.

Thursday, March 30, 2006

NMGC

Looks like earnings weren't so great...

http://www.amtdrt.inlumen.com/bin/story?StoryId=CrcTL0bWbmdG5Cdm4mJe

To be honest with you, I don't really care about what their earnings are, however I do care about how the public reacts to it. We're trading around the $5.40 to $5.70 area right now...let's see how the stock holds up tomorrow and early into next week...that'll tell us more about where we're going from here....

Ding, Ding, Ding...

Well, it was a good day today. I had a bunch of nice trades and of course that morning gap on PD that made me $2.7k richer. I tell you, there's nothing better than waking up, looking at your account and noticing a beautiful gap on a long trade that you have. And I was even able to get out of the trade 6 cents below it's intra-day high!

So, I guess the only bad thing about today was the fact that GOOG dropped $6.57. I was actually expecting worse, but prices held up and it even bounced a good amount from it's low at $383.61. I'm not worried...I still believe GOOG is going to $512. Hopefully, before June.

Alright, time to take a break...

Out 1000 AAPL at $62.50 for +$30

Fakeout...I was right the first time.

In 1000 AAPL at $62.47

It looks strong now...

Covered 1000 AAPL at $62.46 for -$190

Dammit...I should've had a profit on this..

Short 1000 AAPL at $62.27

I missed the first short opportunity.

Out 1000 AAPL at $62.41 for breakeven

Alright...topping tail and huge resistance at $62.60. I'll wait until it breaks $62.60 or drops below the $62.15 area.

In 1000 AAPL at $62.41

AAPL held the latest surge pretty well, then it formed a nice little bottom....we should be going higher from here...

Covered 1000 AAPL at $62.22 for +$340

YUP. Payback's a bitch.

Short 1000 AAPL at $62.56

Gimme my money back bitch...

Out 1000 PD at $81.39 for +$940

Lunch money baby. I'm finally starting to get the hang of this shit...

In 1000 PD at $80.45

50% retracement. Should be good for at least a scalp...

Covered 1000 AAPL at $61.55 for +$440

Alright...let's rock and roll...after watching AAPL for the past three weeks, I know it like the back of my hand now...

AAPL scalp trades

In 1000 at $62.92
Out 1000 at $62.36 for -$560
Short 1000 at $62.36
Covered 1000 at $62.0945 for +$260
Short 1000 at $61.99

I'm starting to get the hang of this scalping on the 2-min chart...the first trade was ugly, but it taught me a lot...

Out 500 PD at $82.50 for +$2720

Sometimes it's better to be lucky than good. PD was upgraded this morning. When I get a $2.7k gap, I'll take it...

Today is starting off on a good note...GOOG is even somewhat holding...

Wednesday, March 29, 2006

GOOG down 10 pts in after hours trading...

Looks like they're filing to sell an additional 5.3 million shares. Bastards...

Google News

I should be worried that it's down 10 pts, but to be honest...I'm really not...F GOOG...

Wedsnesday Market Recap...

Decent day today. Alright, I'm just kidding...it was my best day, by far. And you know what, I didn't even have to do anything. Most of my profits were in my longer term GOOG calls...they went up $10.70 today, which gives me a paper profit of $10.7k. My average is 10 contracts at $13.70, so I have a paper gain of $15.3k on that trade right now.

I'm definately a much better swing trader than I am a day trader. It's because when I initially started trading, I had school and then, a day job to worry about, so I wasn't able to technically "day trade". That's not the case now though...no more school and no more day job. One of these days, I'll become a profitable day trader as well...it's just going to take me a little time to learn.

So, today put me at an all time high in my portfolio. The past two weeks have been brutal to me, but the thing about trading is the fact that all it takes is one day to get back all of your losses. Today was that day. I got back all of my losses plus more.

Trading is like poker...you may run bad for a few weeks, but if you're a good poker player, then you will win in the long run.

Alright, I don't want to keep yapping about my profits because who knows what tomorrow will bring. Let's do this again tomorrow.

Here are my current positions:

Shorter Term (15 minutes to 5 days)
500 PD at $77.06 from 3/29

Longer Term (2-5 months)
1000 CALM at $7.305 from 3/27
1 GOOG June $400 Call at $22.00 from 2/22
1 GOOG June $400 Call at $18.80 from 3/7
3 GOOG June $400 Calls at $14.30 from 3/9
5 GOOG June $400 Calls at $10.80 from 3/10
1300 NMGC at $6.69 from 3/8

Out 500 PD at $77.04 for -$10

I'm holding onto my other 500 shares for tomorrow. I was up about $300 at one point, but the market reversed at around 3:30pm EST dragging every stock down with it.

In 1000 PD at $77.06

Let's try it again.

Out 1000 AAPL at $61.83 for -$200

Dammit. Not as easy as I thought.

Short 1000 AAPL at $61.63

Out 1000 PD at $76.85 for -$120

I still need to hone my scalping skills...

In 1000 PD at $76.97

I was bearish on PD yesterday, but it made a nice move off of the lows this morning and has consolidated for the past few hours. Now, it's attempting to break above those consolidation highs. Let's see what develops.

GOOG

GOOG is at $392.50 +$15.43 for the day. My June $400 Calls are trading around the $28 area +$9.70, which makes me $9.7k richer, on paper. It's so hard not taking profits on this puppy...but I'm on a quest to make $100k, not $9.7k.

Out 10 AAPL May $57.50 Calls at $5.612 for +$212

I sold 3 contracts this morning at $4.80, then I just sold the other 7 at $5.96. AAPL is going higher, I'm just waiting for a consolidation or pullback from here.

Pristine e-mini chat room - the moderator quit

After getting stopped out for the third time today, he just stopped talking. Now, one of the owners of Pristine.com is in the chat room moderating the channel. I certainly didn't pay $450 to have the stupid moderator quit on me like this. THIS IS WHY I DON'T PAY FOR SERVICES LIKE THIS.

I don't mind paying for information, but when it comes to picking stocks, I like making my own decisions.

Out 1000 AAPL at $59.97 for +$1004

F AAPL. Friggin hate that stock. Don't think that I'm done yet...I'm just waiting for a pullback, so that I can get my seconds...

In 1000 AAPL at $58.93

Very bullish move off of the low and then a nice short consolidation...I've been waiting for this moment for weeks...no chance I miss it now...

Pristine e-mini chat room

The dude who runs this thing blows. I'm probably down over $1k from his picks already and I'm only playing a small lot.

He keeps on buying the breakouts. From my experience, buying the pullback AFTER the breakouts is the better option. Alright, no more listening to this fool...

If I'm down $1k, he must be down a shitload more. I play 3 contracts and I think he plays 40 or 45 contracts.

Out 1000 AAPL at $58.22 for -$160

Bastard.

In 1000 AAPL at $58.38

My stop is a few cents below yesterday's low, which would make it around $58.20.

Covered 900 AAPL at $58.53 for +$369

I'm gonna scalp this bitch all day.

Short 900 AAPL at $58.94

Just for a scalp...

Tuesday, March 28, 2006

I hate AAPL...

Once again, AAPL made another new low. This time, on even greater volume...48.9 million shares! Today marks the tenth straight day that AAPL has closed lower than it opened. 10 friggin days! Do you believe that?

Today's action was no different than the previous 10 days. It opened slightly higher and trended higher in the first hour, then BOOM, it just took a dive and closed near it's daily low. Same story, different day.

The 10 AAPL May $57.50 calls that I bought this morning are now worth $800 less. MF'er. I hate AAPL.

On a good note, GOOG closed at $377.74 +$8.05. My June $400 Calls closed at $18.2 +$3.4, which makes me $3.4k richer, on paper.

My CALM closed at $7.63 -$0.24. Not too bad considering that it went up a lot yesterday. Hopefully, it'll consolidate for the next day or two, then continue to make it's run up to $10.00.

Well, here are my current holdings:

Shorter Term (15 minutes to 5 days)
10 AAPL May $57.50 Calls at $5.40 from 3/28
1000 CALM at $7.305 from 3/27

Longer Term (2-5 months)
1 GOOG June $400 Call at $22.00 from 2/22
1 GOOG June $400 Call at $18.80 from 3/7
3 GOOG June $400 Calls at $14.30 from 3/9
5 GOOG June $400 Calls at $10.80 from 3/10
1300 NMGC at $6.69 from 3/8

AAPL double bottom

Now, we need confirmation of the change in trend. If AAPL breaks the $61 area, then the next stop would be around $65.

Dead market...

Looks like the market will be dead until the Fed announces their rake hike decision at 2:15pm EST.

High Stakes Poker

I'm watching last night's episode of High Stakes Poker on my Tivo right now and it's soo funny how Phil Helmuth is getting owned. He looks like the biggest fish out there.

When I get my first million, I'm gonna get in on that action.

Out 5 AAPL April $57.50 Calls at $4.40 for +$100

I didn't want to hold both my May and April calls.

In 10 AAPL May $57.50 Calls at $5.40

Good morning...

Here's the play for this morning:

AAPL May $57.50 Calls are trading at $5.00 x $5.20. My plan is to buy 10 contracts.

SNDK is gapping down as well. Looks like a very bearish island gap. This is a possible short opportunity.

Also, check this out:

http://www.sbfantasyportfolio.com/

CNBC is running a stock picking contest where you can win a 400HP, limited production 2006 Maserati GranSport.

My plan is to get me one of those Maseratis the hard way (by earning enough money to buy one). But if you don't wanna do it the hard way, then you can enter this stock picking contest.

Another thing...look at the top 10 Hedge-Fund traders of the world:

http://www.traderdaily.com/magazine/article/2598.html

Crazy. T. Boone Pickens earned $1.5 billion last year. WTF? I'll be there one of these days.

Monday, March 27, 2006

Google

So, according to this article, Google gets added to the S&P after the close on March 31st.

http://www.nypost.com/business/61375.htm

I wonder if fund managers start buying immediately or what? Will private investors start buying before March 31st? Ultimately, I wanna know what usually happens to the price of the stock before and after it gets added to a major index?

This sounds like a possible opportunity to make some money, huh?

Monday Market Recap...

I think I'm a little too infatuated with AAPL. I need to let my losses go and move on. One characteristic of being a good trader is having the ability to move from trade to trade without letting the last trade affect you. This is not a characteristic that I am currently displaying. I've lost quite a bit of money on AAPL over the past few trading sessions and yet I continue to trade it like I'm the master of the stock. AAPL owns me...I need to admit that.

Sike...no stock owns me. I'll make my money back on AAPL tomorrow. Stupid stock...I don't get mad, I get even...

Here's what I'm currently holding:

Shorter Term (15 minutes to 5 days)
5 AAPL April $57.50 Calls at $4.20 from 3/27
1000 CALM at $7.305 from 3/27

Longer Term (2-5 months)
1 GOOG June $400 Call at $22.00 from 2/22
1 GOOG June $400 Call at $18.80 from 3/7
3 GOOG June $400 Calls at $14.30 from 3/9
5 GOOG June $400 Calls at $10.80 from 3/10
1300 NMGC at $6.69 from 3/8

In 5 AAPL April $57.50 Calls at $4.20

I never learn...

Covered 1000 AAPL at $59.85 for +$290

I'm trading this puppy on the 2 minute chart...my plan is to get all of my money back...

Out 1000 NMGC at $6.39 for -$810

Alright, I'm out 1000 shares of NMGC at $6.39. I'm pretty certain that it's going back down to retest the low at $5.44. I'm still holding 1300 shares just in case it doesn't go back down to retest the low.

I'm still bullish, I just don't want to see a loss of $1000 when I could've avoided it. I will buy back later...

Short 1000 AAPL at $60.14

I reversed my position because the 2 minute chart is showing a downsloping wedge, which just broke down...We should be headed to $59 to retest the bottom.

Out 1000 AAPL at $60.14 for -$1000

Alright, I need to start playing for real...when scalping, I have to keep tight stops and go with what the chart says...

In 1000 CALM at $7.305

I bought this in my longer term portfolio...as I expect CALM to hit a minimum of $10.00 in the next few weeks to 2 months....here are my current holdings:

Shorter Term
1000 AAPL at $61.13 from 3/27

Longer Term (2-5 months)
1000 CALM at $7.305 from 3/27
1 GOOG June $400 Call at $22.00 from 2/22
1 GOOG June $400 Call at $18.80 from 3/7
3 GOOG June $400 Calls at $14.30 from 3/9
5 GOOG June $400 Calls at $10.80 from 3/10
1000 NMGC at $7.20 from 2/15
1300 NMGC at $6.69 from 3/8

Scalping...

Man...my scalping skills are lacking. I'm so use to trading on the 15-minute charts. Now that I'm watching the 2-minute charts, they're screwing up my 15-minute swing trading system. It's like a whole new world trading on the 2-minute charts.

Not sure if any of you saw the Tiger Woods 60-Minutes interview last night, but when he was asked why he had changed his swing twice, he replied "to make me a better player". Well, it's the same with me...why am I trying to switch to the 2-minute chart when I'm doing so well trading on the 15-minutes charts? It's simple, I think it'll make me a better trader in the long run...

NMGC

After the big bullish green bar 5 trading sessions ago, we had a three day bullish consolidation. Today, we are trying to break above the bullish green bar's high. We're trading at $6.41 x $6.43 right now. If we can break above $6.74, then we are set to go much higher.

BTW...look below for my post on Saturday's $10 buy-in NL tournament. I had a hand worth thinking about...

CALM

I played this stock in January and I think I lost a thousand or two on it and vowed never to play the low volume stock again. Today, it gapped up way above resistance at $7.00. I'm going to be watching this closely as there is no resistance until the $10.00 area.

In 1000 AAPL at $61.13

"W" bottom on the 2 min chart. Let's make some money.

Out 900 AAPL $61.21 for -$189

Alright, I bailed on all of my AAPL for now. I had 400 at $61.71 and 500 at $60.71, which gave me an average of 900 shares at $61.42. I think AAPL is strong, but there's a little bit of resistance here at $61.39. I'm gonna let is consolidate for a little bit and then buy it back...perhaps some options.

Finally...AAPL going...

Still holding my 900 shares. I should've bought 9000. It's trading at $61.06 x $61.07 right now.

Sunday, March 26, 2006

NL Hold'em: When going all-in as a heavy favorite is NOT the best option...

Yes, that's right...I had a revelation this weekend. I was playing with friends in a $10 buy-in NL tournament last night. In that tournament, I discovered that sometimes, even if you're a heavy favorite to win a hand, the best option is NOT to go all-in, but instead to wait until you are 100% certain that you are going to win the hand before trying to maximize your winnings. You're probably saying to yourself, "WTF? It's ALWAYS correct to go all-in with the best hand, regardless of the circumstances". Well, you're wrong and I'll tell you why.

First, let me explain the situation. It was a 7 person tournament. Most of the players were casual, inexperienced players. Only one, maybe two were good players. We each started with 3000 in chips. Blinds started at 50/100, with blinds increasing every 30 minutes. A pretty slow structure.

Down to 4 players left, I had a chipstack of about 5000. Blinds were at 100/200. Three players limped in. I was in the big blind with 25, so I checked my option. The flop came 25J. The small blind bet out 500 and I immediately raised to 1500 with my bottom two pair. Everyone folded to the small blind who just called. I knew this player and I knew that he had Jack. Most likely a J-8 through J-Q, at best. The problem was, he had me covered in chips. The turn brought a T. He paused for a second, then checked. At this point, I knew that he didn't hit his two pair. I thought for a second and then, I pushed all-in. This was my mistake.

First off, I knew that he would call my all-in. If he did, then he would have exactly 8 outs, 3 tens, 2 jacks, and 3 of whatever his kicker was. That would make me about an 84% favorite to win the hand with one card to come. This would also mean that he would have a 16% chance of sucking out on me. In a tournament, staying alive is just as key as building a nice chipstack.

Since I was playing in a tournament with players who I thought were lesser skilled than me, why did I need to risk all of my money when there was a chance that I could lose. Even though there was only a 16% of chance of me losing, I didn't NEED to do this. If I was certain that he was going to call my all-in, then why not push all of my money in on the river, when I'm 100% certain, instead of 84% certain that I have the best hand?

Instead of going all-in, I probably should've checked the turn, giving him that free card.

So, what happened next? Well, he called my all-in and showed JQ. A J came on the river giving him trips to beat my two pair and knocking me out of the tournament.

I think it's hands like this that defines great players. The majority of players out there would say that I did the right thing, however, I don't think that I did. Even though I put all of my money in with the best hand, I left myself vulnerable to busting out of the tournament. If I were playing against players who were better than me than, yeah, it would've been the correct play, however I wasn't. I was playing against lesser skilled opponents. If I would've folded on the river when that second Jack came out, I believe that I still could've won the tournament with the amount of chips that I had left.

This was definately one of those hands to think about.

Saturday, March 25, 2006

Bad Bet

Alright, I guess Wichita State was NOT the bet. Oops. Mason dominated the entire game, it was ridiculous. Looks like I'll be working my way uphill again...

Friday, March 24, 2006

$300 on Wichita State

I just bet $300 on Wichita State +2.5

Here were my reasons:
- I saw the President of George Mason on CNBC this morning
- George Mason beat Wichita State by 3 points in their last meeting (revenge factor)
- There's way too much hype on Mason right now.

Honestly, I hope Mason advances, because I've lived in VA my whole life and I even hit Mason up for a summer session a few years ago, but I can't let my feelings influence my decision when I'm betting on a team. Wichita State is the bet.

Pristine.com - e-mini trading room

Alright, I've never done this before, but I signed up for Pristine.com's e-mini trading room for two months. It's gonna cost me a total of $450. They're running a promotion where you can get 1 month for free if you buy one month. I'm not a big fan of paying someone else to make my picks, however, I do believe educating myself, so that I can become a successful trader.

Since, I'm completely new to trading e-minis, I figured that, if nothing else, these guys at Pristine.com can help me accelerate the learning process. Instead of learning by trial and error and taking a year or two to perfect my skills, hopefully I can learn from these pros all that they know in a few short weeks.

Anyways, $450 is not a big deal considering the fact that I win and lose that much every single day.

When I initially started trading options, I learned the hard and lost wayyy more than $450 before becoming profitable. I remember my first options trade was a loss for at least $400.

LET'S MAKE SOME MONEY!

Have a good weekend.

Back

Just got back from a long long long lunch. I missed most of the trading day.

Looks like my AAPL didn't hold up. So, I'm down another $400 right now. I'm starting to hate AAPL with a vengence. You know what happens when I hate a stock...I keep on beating on it until I get my money back. And trust me, I'll get my money back.

So, now I've got 900 shares at an average of $61.42, which means that I'm currently down $1337 on it right now. I'm going to hold these shares into the weekend. I think AAPL is forming a bottom here, it shouldn't take more than another trading day or two to breakout from the bottom.

Alright...time to get ready for George Mason vs. Wichita State game. Who knows, I might even throw some money on it to make it a little more exciting.

Scalps

Man...I suck at these scalps. I see an M-top on the 2 minute chart, yet I'm still holding onto the stock. What the hell am I doing?

In 500 AAPL at $60.71

This is just for a scalp.

GOOG at $365 +$23.11

My June $400 Calls are up 7 points right now, which gives me a paper gain of $7000. How you like them apples?

Let's see, I've got 10 contracts at an average price of $13.77, which actually only gives me a small overall gain right now. I'm planning on holding until GOOG reaches $500, so there's no point in counting right now anyways...

Lemme see if I can find some trades this morning...

Thursday, March 23, 2006

Out 100 GOOG at $369.59 for +$147

After hours trading is so much fun...alright, time to go out and get some beers with this $147 that I just made. F GOOG.

In 100 GOOG at $368.12

F GOOG. Time to get that $2.9k back from those March $400 Calls that I bought last month. F GOOG.

GOOG +$33 after hours

No clue what's going on yet....I can't find any news at all....All i know is that my June $400 Calls are going to make me richer tomorrow...a lot richer....

Hold up...looks like they're going to add GOOG to the S&P...giddy up...


Shorter Term
400 AAPL at $62.32 from 3/21

Longer Term (2-5 months)
1 GOOG June $400 Call at $22.00 from 2/22
1 GOOG June $400 Call at $18.80 from 3/7
3 GOOG June $400 Calls at $14.30 from 3/9
5 GOOG June $400 Calls at $10.80 from 3/10
1000 NMGC at $7.20 from 2/15
1300 NMGC at $6.69 from 3/8

Torn ACL

Here' s the MRI of my knee. If anyone's a doctor out there, or if you've had an ACL tear before, let me know if you think I have a torn ACL. I'm going to the doctors next friday anyways, but I hate waiting...



No soccer for a year. No sports for a year. God, this is gonna suck.

$50 buy-in 9 person NL tourney last night

Well, I ended up placing in third winning $90. Peanuts. I actually got a little bored towards the end because it didn't seem like anybody was really trying. Players were going all-in on stupid hands and calling all-ins on even worse hands. I play in these tournaments for the competition, not really for the winnings. When players don't try, then it makes playing in these tournaments boring for me.

Anyways, I made one great read last night. I had JQ in early position and raised it to 80. We all started with 1500 in chips. Blinds were at 15/30. Two players called. The flop came 89J. I lead out for 150. The player to my immediate left calls. The turn brings a 4. This time, I lead out for 350. After thinking for a few seconds, he goes all in for another 495. I had about 800 left in front of me. I went into the tank because if he had the flush, then I'd be drawing dead. If he had a Jack with a higher kicker or a Jack with a heart, then I'd be pretty much drawing dead. Not a good position to be in, except it was only 495 more for me to call. There was already about 1700 in the pot.

After watching him for a little bit, I noticed that he was yapping away at all of his friends at the table. He acted like he wasn't even paying attention to my hand. He kept yapping and yapping, happy as can be. So, I decided to do a quick little test...I reached for my chips to see if he'd notice or not. Yup, he noticed for sure...and gave me a quick little glance from the corner of his eye. One thing about tells is this, people who act strong are weak and people who act weak are actually strong. He was acting way too strong. So, I called. He had an AQ with the queen of hearts. The river brought a blank and not only did I knock him out, but raked in a monster pot.

All-in-all, I played well last night. When we were down to three players, I think that if I wanted to win, then I could've won. I had already been there 4 hours and I just wasn't really having fun anymore. The chiplead had about 7 or 8 times the amount of chips that I had. In the final hand, he raised it to 700 from the button with AJ. Blinds were at 100/200. I had A5 in the big blind. Normally, I wouldn't push all-in with this type of hand, but I was honestly ready to go home. So, I pushed and he called. His AJ held up and that was that.

So, there's a $150 buy-in tourney this coming Saturday. This will give me a little more motivation to play and win. I haven't decided whether I'm going or not, yet, but if I do, one thing's for certain, I'm not going to be settling for a 3rd place finish this time...

Out 500 AAPL at $60.16 for +$115

I'll take these small profits for now. Still holding 400 shares...

Out 500 AAPL at $60.17 for +$120

I'm locking in partial profits...peanuts, but I'll take whatever I can get today...

In 1000 AAPL at $59.93

Let's try this one more time with a little more shares....I got a totalof 1400 now...gimme my money back bitch...

Out 400 AAPL at $59.97 for -$40

I think I should be shorting into strength in this market and NOT buying into weakness....

In 400 AAPL at $60.05

Alright, one more time...got 800 shares now...

Out 400 AAPL at $59.97 for -$40

Still holding 400 at $62.32.

In another 400 AAPL at $60.07

My average is now $61.20. This could be a bad idea, but let's give it a go...

AAPL

Gawd...I'm kicking myself for trying to catch a falling knife. I'm down about $700-$800 on AAPL right now. I should've taken my stop a long time ago, like all good traders would. That's one of the flaws in my game.

I haven't made any trades today yet because of the once again whippy action. It's been a very tough market to trade over the past week.

I'm sooo ready to make some big money, but nothing is really developing. Patience is KEY in times like now...something which I lack!

New low on AAPL

Another new low on AAPL. We're going to have to keep going down until we can find a bottom on this puppy. Perhaps $60.

Wednesday, March 22, 2006

Out 400 RIMM at $83.89 for +$101

Still holding 400 AAPL. I'm playing in a $50 10-person NL tourney tonight, so I'll have some poker to talk about tomorrow...

In 400 shares of AAPL at $62.32

I'm still testing my 2-minute chart skills...

Short 400 shares of RIMM at $84.15

Bearish consolidation and now a breakout below today's low. Let's see if we can make some money today...

Out 500 AAPL at $62.66 for +$120

I'm trying to get the hang of scalping using the 2-min chart...these are just a few test trades...

In 500 shares of AAPL at $62.42

AAPL is building steam to move higher. How high? I'm not sure, but we'll play it as it goes...

Trading e-minis

So, I've been trying to learn how to trade the e-minis. The e-minis are the futures for the major market indexes, like the Dow Industrials, S&P, Nasdaq, Russell 2000, etc. Supposedly, this is where the ultimate day traders eat, breathe, and sleep.

The great thing about trading the e-minis is the fact that there's always someone willing to buy your shares from you or sell their shares to you. The point is, you never have to worry about the spread or if there are enough shares at that price you want to sell/buy at. Also, you can short any time you want, instead of having to wait for an uptick.

Trading the e-minis has been a whole new experience for me. First off, instead of trading using the 15-minute charts, I've been using the 2-minute charts. And instead of holding for a few hours or a few days, I've been holding onto my shares for only a few minutes. I thought what I was doing before was considered day trading, but I was wrong. Trading using the 2-minute charts is REAL day trading. Some call it scalping.

Okay....time to make some money. I think I may have sold my AAPL options too early. On the 2-min chart, it's formed an upsloping wedge close to the daily high, which means that it'll most likely go higher from here....

Out 5 AAPL April $60 Calls at $4.50 for -$200

I'll get back in when we find a bottom.

Tuesday, March 21, 2006

Another tough day...

Another tough day in the markets. I missed the huge drop that started around 1pm. And then I tried to catch the bottom on AAPL. I bought at $4.90 and it closed at $4.30, so I'm down about $300 on those options right now. Let's see how it opens tomorrow.

Shorter term on AAPL, it looks like we're going to have to find another bottom due to today's new low. It shouldn't take more than 2 weeks to form a bottom and move higher from that point, so until then, I would just watch and wait.

GOOG was down 8.51 pts on light volume, so I'm not too worried about it. The only thing that is kinda scares me is the fact that today's red bar completely covered yesterday's green bar. This is a bearish sign, but let's see how it goes tomorrow before we jump to any conclusions.

NMGC went up 11.26% today on decent volume. There's huge resistance at $6.50, so nothing will happen until we get past that point. My guess is that we'll hit $6.50 tomorrow, then go back down on Friday until next week, where we'll retest the bottom at the $5.44 level.

Alright, I gotta stop focusing on these three stocks. I'm a daytrader. I shouldn't be focusing too much on only three stocks. Okay...tomorrow's a new day...let's see if I can make some real money tomorrow...

AAPL retest failed

Well, the lighter volume retest of AAPL at $62.45 failed. Not only did we go below $62.45, but we're currently at 36 million shares traded. Not good for the short term. Looked like we're going to have to find another bottom in the upcoming weeks.

In 5 AAPL April $60 Calls at $4.90

Quick sharp drop, right to my target price. The only thing that scares me is the volume coming down. If nothing, I should be able to make a few hundred from this trade...we'll see...

Out 500 RIMM at $87.95 for -$35

We're getting all kinds of whipsaw action today. Up, down, up, down...I wish the market would decide on a direction, one way or another....

NMGC

The 15-minute chart is looking very very bullish. Today's daily high is $6.34. There's a lot of supply at the $6.50 area, so that should be a huge resistance point.

Depending on how it looks, I may take another 1000 shares off of the table after today's run. We'll see.

Out 100 GOOG at $347.50 for +$28

I wanna see a clear trend develop before I reenter.

Short 500 RIMM at $87.88

This is just for a scalp...I'll be happy with +$250..

NMGC

NMGC momentum. Looks like we got a few day traders/momentum traders in this thing....261k shares traded...let's see if we can build some steam or if this is just a oversold bounce?

Out 500 shares of RIMM at $88.13 for +$540

Unforuntately, my GOOG is going the other way though...

NMGC

It looks like NMGC was able to break the previous two day's high, which is normally a strong sign, except there's only been 39k shares traded.

In 500 shares of RIMM at $87.05

Time to make my money back...

Out 5 RIMM March $90 Puts at $5.90 for -$550

Bad trade.

AAPL

$62.45 is the magic number on AAPL. If nothing else, we should get at least a bounce from that level.

Monday, March 20, 2006

Boring...

One word to describe today's market action: BORING. Let's hope tomorrow brings a tradable day.

Out 100 GOOG at $345.70 for -$152

Tough to trade today...I'm still holding 100 shares.

In 200 shares of GOOG at $347.22

Breakout on the 15-min chart. The spread on the options are ridiculous right now, so that's why I'm not playing the options.

In 5 RIMM April $90 Puts at $7.00

AAPL & GOOG

Idealy, what I'd like to happen with both of these stocks is for them to retest their lows on lower volume. GOOG may have already retested it's low on the 3/10 and 3/14 bars. A confirmation of the successful retest would be a break of $352.37. If GOOG breaks this price point, then I would start buying again. For AAPL, I'd like for it to fill the gap from 3/10 & 3/11, then retest the low at $62.45 on lower volume. If this is done, then we need a move the $68 to confirm the successful retest.

All of this is obviously not going to happen in one day. But these are things that I'd like to see happen over the next few days with these two stocks.

ENER

My alarm on ENER just went off. It's time to short this puppy.

Wake up!

Alright, last week was an awful week for me. I closed out most of my positions on Friday with the exception of my longer term positions. Some of the positions were closed automatically because my options expired. Some of my positions I closed myself because I didn't like how prices held on friday. So here's my tally for Friday:

Out 5 GOOG March $400 Calls at $0 for -$2900
Out 20 AAPL March $67.5 Calls at $0 for -$900
Out 20 AAPL March $67.5 Calls at $0 for -$1000
Out 25 AAPL March $67.5 Calls at $0 for -$2750
Covered 1000 GLD at $55.16 for -$530

Can you say ugly? Every trade is a learning experience. Last week, I F'd up big time because I had such a great day last Tuesday that I became careless and gave it all back towards the end of the week. This is why trading options is such a dangerous game. Actually, the reason it's dangerous is because I made it dangerous by trading out of the money calls on options expiration week. Win big, lose big.

Okay, so Today is a new week and I'm ready to make all of that money back. The market pundits seem to think that the markets are going to correct over the next few days, so it might be better to look for short opportunities than long ones. As of right now, I don't see anything compelling for today. I'm just going to make the plays as I see them develop.

Here are my current holdings:

Longer Term (2-5 months)
1 GOOG June $400 Call at $22.00 from 2/22
1 GOOG June $400 Call at $18.80 from 3/7
3 GOOG June $400 Calls at $14.30 from 3/9
5 GOOG June $400 Calls at $10.80 from 3/10
1000 NMGC at $7.20 from 2/15
1300 NMGC at $6.69 from 3/8

Sunday, March 19, 2006

$40 buy-in poker tourney

I played in a $40 buy-in poker tourney last night. There were 18 players. We all started with $2000 in chips, with blinds increasing every 15 minutes.

The first big hand that I played in, I had AT suited in middle position. With blinds at $20/$40, I raised it to $100. A player in late position and the big blind both called. The flop came A-T-6 rainbow. The big blind bet out $100. He could've had a set or possibly A-6, so I just called. The player in late position folded. The turn brought a 2. He bet out $200. I raise him to $600 and he quickly called. I figured he probably had A-high, or possible a lower two pair. The river brought a 9. He quickly bet out $200. And I just called. He turned over A-K. So, I took in a nice pot. I should've put him all-in on the river though.

The second big hand. I had K-6 offsuit in the small blind. Blinds were at $40/$80. Three players limped in, so I decided to see the flop as well, along with the big blind. Five players total. The flop came A-K-4. It checks all the way around. The turn brings another A. I lead out with a $250 bet. It folds all the way around to the button, who just calls. The river brings another K, giving me Kings over Aces. I didn't think he had an Ace, so I bet out $350. A safe bet, but enough to make him think. Before calling, he said "I don't think you have shit". He called and I turned over the mini-nuts. He didn't show, but I'm assuming he had a Queen.

Down to the final two, the chip leader had about a 6 to 1 chiplead over me. Yeah, I had to do some work. After building my stack up to about $9000 chips ($36000 total chips on the table), I look down and see JJ. He was in the small blind and he just called, so I immediately raised him all-in. He quickly called. He turned over K-8 suited. The river brought a K and that was it. I won a whopping $170 for my 2nd place finish.

Oh well...I wasn't there for the money...I was there to test my declining poker skills. Hah. There's a $150 buy-in tourney next weekend, which I might be playing in. Now, that's the money that I'm talking about...$170 is barely worth the 5+ hours that I spent playing there...

Saturday, March 18, 2006

Poker Notes

I've compiled a list of notes from previous blog posts about my poker game. These are the rules that I try to follow. All of these ideas were taken from personal experience...

Poker in General

Here are a couple of the things that I need to remember:
1) Only bluff those who are capable of being bluffed (i.e. don't bluff a calling station).
2) Don't slow play against a calling station because if you bet big, he's going to call you anyways!
3) It's always better to be safe than sorry, unless you have the nuts.
4) Don't play too many hands!

No Limit
1) Don't slow play your monsters when there's a draw out there. It could cost you more than it's worth.
2) Most of your money will be made on holding pocket pairs and flopping trips or big suited flushes. Pocket Aces and Kings will make you money, but not as much as flopping trips.
3) Remember to include all of the chips in front of your opponent when calculating implied pot odds. If you know that you can get all of your opponents chips if you hit your hand, then it may be worth it to risk more, even if you're not getting the correct pot odds at that moment.
4) Don't overplay pocket pairs (i.e. Queens and below). Normally in limit, you would raise with pocket pairs above Eights to isolate the field. In no limit, I think it's better to just call with these mediocre pocket pairs.
5) If someone puts you all-in, always expect the unexpected. The player probably has trips or a flush or a straight. It's better to lay em down, unless you have a good read on your opponent.
6) Remember that every bet is a test. What I mean by that is, when you have a hand, make sure you put a big enough bet in so that if your opponent calls or raises, you'll know exactly what he's holding. This is important because if you don't make a big enough bet, then you may lose more money in the end.

Live Action Hold'em
1) It's okay fold a good hand (AK, AQ, KK, QQ, etc.) after you've raised it preflop and a scare card comes on the flop. Don't be stubborn, when you know you're probably beat. Lay the hand down...there will be another one.
2) Every movement, every grimmace, every sound, every gesture that you make during a hand should be a deliberate one used to persuade or dissuade your opponent from calling. Don't give your opponent any tells (e.g. a grimmace or reaching for your chips), unless you are doing it on purpose.
3) The more serious you look, the more itimidated your opponents are, unless, of course, they have a great hand. In a hand, if you act like you're out for blood, then a lot of times, they will give you a free card, or they will bet a smaller amount than they normally would. It's scary betting into someone who looks like they're going to take your head off.


Flaws in my game
1) When someone gets the best of me in a hand, I feel the need to get even. I need to be able to let my emotions go. I need to think about the end result instead of one bad beat.

2) I have a huge problem calling big bluffs with mediocre hands even if I'm more than 70% sure the player is bluffing me. For instance, in a tournament, I had top two pair, then a three flush comes on the turn. The bluffer bets out big and puts me all in. Even though I'm almost certain he's bluffing, I fold. I need to rely on my instincts even if it means going bust.

3) I have a tough time laying down a monster even if I'm fairly certain that my opponent has a bigger monster. I need to be able to make big laydowns when I know I'm beat. It's easy to fold your bad hands and play your good hands, but what separates the pros from the amateurs is the ability to make big laydowns and put in big bluffs when you're fairly certain your opponent will fold.

You're not a good player if...
I've said this before, but I'll say it again:
It's easy winning money by playing your good hands. What makes you a GREAT player is being able to lay down your good hands when you're fairly certain that you're beat. The hand above is a classic example of the idea that I'm trying to convey.

So, here's what I'm getting at:
1) If you've never laid down a pair of Aces after the flop, then you are NOT a good player.
2) If you've never laid down AKs preflop, then you are NOT a good player.
3) If you've never called a bluff on the river with only bottom pair, then you are a NOT A good player.
4) If you've never laid down a set, then you are NOT a good player.
5) If you've never laid down a pair of Queens (or even Kings) preflop, then you are NOT a good player.


ONLINE POKER
1) When another player is low on chips and close to going all in, it's best not to get involved in that final pot with that player because their win percentage seems to be greater in those situations.
2) If an opponent is catching every card against you when playing heads up, it's best not to get involved in any pots against him because his win percentage seems to be greater than normal at that moment. Even hands in which you're supposed to be raising on like AJ, 88, 99, TT...just muck em if you're heads up against that opponent. You'll know who these opponents are because they're the ones who have 10 times the amount of chips more than anyone else at the table.

1) Drop down in limits to "weather the storm".
2) Only play premium hands and fold more often than not and call more often than raise. (especially when your pocket aces gets cracked 2 or more times in the same session).
3) Just stop playing for a little while or go to another poker room.


Personal Notes on Online Poker
1) When I get to $1000, I'm cashing out $800. No if, ands, or butttttts.
2) If I lose more than $100 playing heads up, then I'm quitting because my opponent is probably better than me. I can't let my stubborness get the best of me. As much as I want to be the best, there's always going to be someone better. For now, at least.
3) Don't let myself play for more than 3 hours at a time. I gotta make sure I get breaks in or else I play stupid.

Friday, March 17, 2006

RIMM

RIMM is a short here. This puppy is going lower. I'll probably wait till Monday though before I buy some April puts.

Kegs and Eggs

Overated. Waited in line for nearly 3 hours. Got inside and could barely move. I can't believe how many people showed up for this thing at 5am! Seeing O.A.R. was worth it though. They're one of my favorite bands. When we left, the line was STILL ridiculously long.

So, I got 2 hours of sleep last night and I'm still a little hungover. No trading for me today until I get my nap in. It looks to be a slow day anyways.

Thursday, March 16, 2006

Thursday Market Recap...

Man...another awful day. Live by the sword, die by the sword. This is what I get for playing out of the money options on options expiration week!! Alright, live and learn...

I basically lost most of my profits from the past few weeks on all of these AAPL and GOOG March calls that I have.

OK...let's focus on the future. Where do we go from here?

AAPL - looks like we're going back down to the $62.45 level to retest that low. Hopefully the retest will happen on significantly less volume than 37 million shares.

GOOG - Same boat as AAPL. We need to go back down to the $331.55 level to retest that low on lighter volume. We traded less than 10 million shares today...this is peanuts. And we were down almost 6 pts.

NMGC - This is looking ugly. I wish I would've sold all of my shares at $6.12 now, instead of holding onto my longer term shares. The good news is that the RSI is below 30. The bad news is that we won't fill the gap until the $4.00 area.

GLD - Up 19 cents on weak volume. I may have to cut my losses on this one too.

It's days like today that make me say to myself "What the F am I doing?? I should KNOW better." Those 65 AAPL March $67.5 calls are virtually worthless now. That means -$1800 and -$2500. EWE!!! And those GOOG March $400 calls are worthless, -$2800.

BAD, BAD, BAD.

Someone end this week already. I can't take anymore. Maybe this is why tradermike.net doesn't trade on the thursday and friday of options expiration week?

Covered 500 GLD at $55.32 for -$160

This sucks...I'm still holding 1100 shares short.

Out 5 RIMM April $90 Puts at $7.00 for +$500

All of that work for $500...

RIMM

Slow, painful, death for the longs...kinda like how NMGC is for me...

Can't wait...

Man, I can't wait for this week to end, so that all of these losses will be gone from my account. All of the GOOG and AAPL options that I have right now are most likely going to expire worthless, unless they make a run tomorrow. And yeah...they're ugly losses.

NMGC is not looking well. I told myself that I'm gonna hold them longer term, so that's what I'm going to do. Even if it means that it might go down to the $5.00 or $4.50 area before going higher.

GLD is not cooperating today. Sucks!!!!!

Out 10 GOOG March $360 Calls at $.45 for -$1900

OUCH. Stupid play.

Short 800 GLD at $55.00

I've got 1600 shares now. This puppy is going down...

e-minis...

I'm really starting to like trading these e-minis. Yeah...I've been following the Pristine guys again, after I said that I wouldn't follow anybody ever again. Actually, I'm not following their exact plays, I'm only taking their plays if I believe in them as well.

Anyways, I've made about $200 today trading the DOW e-minis. I'm trading on small lots, just to get used to trading them.

All I know is thatI can make some serious money trading these futures...uh oh....you know what that means...

GLD is coming back up to short level. A good entry would be around the $55 area. I may short some more...I've got 800 shares right now...

NMGC & AAPL

NMGC is breaking down. Yesterday, we had two bearish consolidation bars, which means that it wants to go lower. Today, it broke yesterday's low, which means that it's going lower. So:

Lower + Lower = Lower

It looks like we're going to $5.00, then $4.50. Not good. The question now is, whether I should sell and buy back lower, or just hold.

AAPL. It gapped up this morning, then broke yesterday's low with a very bearish engulfing bar. Not good. It looks like the big guys are pinning this stock at $65 for Max Pain. I don't think we're going higher until options expire on Friday. Bastards are killing my March Calls.

In 5 RIMM April $90 Puts at $6.00

RIMM gapped up this morning, then it snapped back down below yesterday's high. Time to make some money.

Morning update...

Big long topping tail on RIMM. If it break $88.79, then I'll be looking for a short entry...

GLD just broke yesterday's low too. I'll be looking to add to my short position on the first move higher...

Wednesday, March 15, 2006

Wednesday Market recap...

Alright, today was a bad day all around for me. From waking up late to the bonehead trades that I made.

Yesterday was a great day. Today was a bad day. Hopefully, by tomorrow, yesterday and today will be forgotten.

Here's what I'm still holding:

Short Term
20 AAPL March $67.50 Calls at $.45 from 3/13
20 AAPL March $67.50 Calls at $.50 from 3/14
25 AAPL March $67.50 Calls at $1.10 from 3/8
5 GOOG March $400 Calls at $5.80 from 3/2
Short 800 GLD at an average of $54.63 from 3/9
10 GOOG March $360 Calls at $2.35 from 3/14

Longer Term (2-5 months)
1 GOOG June $400 Call at $22.00 from 2/22
1 GOOG June $400 Call at $18.80 from 3/7
3 GOOG June $400 Calls at $14.30 from 3/9
5 GOOG June $400 Calls at $10.80 from 3/10
1000 NMGC at $7.20 from 2/15
1300 NMGC at $6.69 from 3/8

Bonehead trades today...

In 20 AAPL March $67.50 Calls at $1.85
Out 20 AAPL March $67.50 Calls at $1.45 for -$800

Accidentally bought 10 GOOG March $360 Calls at $.90, sold at $.90 for breakeven minus commissions. I was trying to sell my existing 10 contracts instead of buy. Not a big deal, because I got out at breakeven, but it was still a bonehead trade.

I made two other bonehead trades because I followed the Pristine guy's picks in their trading room. I was in their internet trading room as they gave the plays out on the e-minis. I tell you, I'm never ever going to make trades based on anybody else's plays but my own from now on. Out of the 5 roundtrip trades that I've made from their picks, I've lost a total of about $900 in two days. They stink. I'm a bonehead for listening to them.

Note to self...

Set my alarm on trading days.

So, I overslept this morning and missed the gap up in GOOG and AAPL. By the time I woke up, both stocks had already formed a topping tail and were heading downwards.

Yeah, I still could've gotten out of both stocks at a decent price, but I would've almost certainly have sold some into the morning gap. Now, I'm left twiddling my thumbs, waiting and hoping for both stocks to go back up before the end of Friday (options expiration).

Who would've thunk that waking up 20 minutes late would cost me a few thousand bucks? Beatches. Trading sucks...just kidding...well, kind of...on days like this, it sucks...

Blogger down again...

Max Pain

I just read this article. Interesting...

http://www.daytradeteam.com/dtt/swing-trading-strategy/2005/08/max-pain-swing-trading-secret.html

Looking at the GOOG options, Max Pain would be at the $360 level.

Tuesday, March 14, 2006

Tuesday Market Recap...

Well, it finally happened. AAPL and GOOG both popped and they popped BIG.

AAPL $67.30 +$1.62 (2.47%) - 22.7 million shares
GOOG $351.06 +$14.01 (4.19%) - 18.4 million shares

Unfortunately, NMGC is not cooperating. The good news is that there was no follow through from yesterday's big down day. The bad news is that the damage has been done. Now, we need to find another bottom and hopefully break out from that new bottom. We'll see what happens in the next few days.

A break of $67.72 on AAPL tomorrow and we should get even more buyers. $67.72 was last week's high.

GOOG - We had a very bullish green bar today on decent volume. Let's see if we can build some steam on today's action for the rest of the week. Perhaps, I'll make my $100k sooner rather than later...

Here are my current positions:

Short Term
20 AAPL March $67.50 Calls at $.45 from 3/13
20 AAPL March $67.50 Calls at $.50 from 3/14
25 AAPL March $67.50 Calls at $1.10 from 3/8
5 GOOG March $400 Calls at $5.80 from 3/2
Short 800 GLD at an average of $54.63 from 3/9
10 GOOG March $360 Calls at $2.35 from 3/14

Long Term (2-5 months)
1 GOOG June $400 Call at $22.00 from 2/22
1 GOOG June $400 Call at $18.80 from 3/7
3 GOOG June $400 Calls at $14.30 from 3/9
5 GOOG June $400 Calls at $10.80 from 3/10
1000 NMGC at $7.20 from 2/15
1300 NMGC at $6.69 from 3/8

Out 10 AAPL March $65 Calls at $2.45 for +$800

Hell yeah! It's been a great day for me...

In 10 GOOG March $360 Calls at $2.35

I'm back in...bullish consolidation...

Damn...today started off slow, but this late day action is incredible...THIS IS WHY I LOVE TRADING!!

Covered 1000 GLD at $54.96 for -$330

I'm still short 800 shares. This stock is going down...it's just a matter of time. The volume over the past two days has been weak...which means that this run up has no momentum...

Out 10 GOOG March $350 Calls at $5.90 for +$2400

Been waiting two weeks for this trade! F YEAH!

Don't wanna sell too early on GOOG...

I'm going to trail my stop under the prior 5-min bar....

This cracks me up...


As seen on Break.com

In 10 GOOG March $350 Calls at $3.50

Giddy up. AAPL just broke it's intra-day high again, after a 45 minute consolidation. We're going higher...

AAPL new daily high...

It's TIME to BUY, BUY, BUY...

GOOG is making a strong move too....I may look to get in some March $360 calls..they're trading at $3.5 x $3.7 right now..

GOOG breaking out...

Let's see how it closes today....

NMGC is looking strong too...I have a feeling that we're going to go back up to the 6.60 - 7.00 area today...

Short 900 shares of GLD at $54.88

I should never have let my original short go back up this high. I knew I should've taken profits on that big gap down a few days ago. Now, I have 1800 shares of GLD at $54.63. I just want to get out breakeven now. I've got too much money tied up in this one stock.

In 20 AAPL March $67.5 Calls at $.50

AAPL is looking very bullish. I've got 65 contracts at an average of $.715 right now. Damn...I better be right...

Out 3000 NMGC at $6.12 for -$1710

Ouch. I'm still holding my other longer term 2300 shares. Bad trade...let's move on.

AAPL just broke yesterday's high...

Let's see how it retraces before getting all excited. It's 10am reversal time too, so this could be a trap...not to mention that we already have 3 green bars on the 15-min chart...and there's not a lot of volume on this move higher...

Morning update...

I'm just sitting here waiting for AAPL to break $66.28 (yesterday's high).

After reading all of the other daytrading blogs last night, I'm glad to see that I wasn't the only one who didn't make too many trades yeseterday. It seems as though the general consensus is that the trading has been "choppy".

By the way...for those who are interested in trading futures, Pristine.com is offering their trading chat room for free this week:

http://chat.pristine.com/rtr/login.asp

username: guest
password: guest

You have to have Microsoft Virtual Machine installed.

Monday, March 13, 2006

AAPL and where I think we're going...

OKAY...so, I'm loaded up on AAPL right now. Why am I loaded up? Well, here's a 2-year weekly chart of AAPL:



Here's what I'm reading from this chart. For the week of 2-6-2006, AAPL came down to $62.90 on 246 million shares. Last week, it went all the way down to $62.45 on 153 million shares. It closed near it's low last week and today, it gapped up nearly 2 pts.

First off, the volume. When you have a retest of lows on less volume, then the only thing that we need to confirm the successful retest is a break of the prior bar's high. So, if you want to be safe before entering AAPL, then you should be buying after it closes above $67.72.

Anyways, the point is, AAPL went down to retest the lows with nearly 40% less volume than the last time it hit the $62 area. Today's gap confirms that it's time to load up on this puppy.

Another note, when I'm looking for stocks to buy, I look for:
  1. stocks with rising 20-period and 40-period moving averages
  2. stocks that have come back down from recents highs, preferrably close to the 20-period or 40-period MAs
  3. stocks that have successfully retested recent lows to form a double bottom
  4. strong stocks that have 3-5 prior red bars

AAPL is showing signs of all of the above on the weekly chart, with the exception of that last one.

I think we're going higher...a lot higher. Only time will tell.

Car scratched up

I was on a hill and I didn't pull the parking brake on my car up far enough, so my car rolled under the pick up truck in front of me. Luckily, only the hood was scratch.





The first guy that I took it to, he said that it'd cost me around $500. I was expecting worse, but he seemed a little shady, so I decided to take it to another autobody specialist. This time, they gave me a quote of $400. OK...now we're talking. I decided to take it to one more specialist and jackpot, they were very reputable and not only that, but they quoted me for $329 AND there was only a one day turnaround!

Nice...I was in on Wednesday and out on Thursday. If anybody is looking for an autobody specialist in the DC area, make sure you check this place out. They're called Specialty Auto Body and they're located close to Ballston Mall.

Anyways...this car is costing me so much money. I had to pay $1700 in DC taxes for this stupid car. Then, I got that $181 speeding ticket on the way back from AC. And, I've gotten pulled over by cops on two separate occasions already. Luckily, they only gave me warnings...I wonder what will happen next?

AC Trip... -$3000

YUP...I got wacked this weekend! I left for AC around 12pm on Friday afternoon. I got there just in time to catch the market close.

From the second I started playing craps, my bankroll went downhill and FAST. By midnight, I was down to $150 from my starting $4000 bankroll!!

Sitting at the $50 blackjack table, I had two green chips left. The old asian guy looked at me and said "don't give up!". I was ready to leave the table. And then, all of the sudden, I started winning. 2 hours later, I had recovered $2000 back. PHEW! I was content with being down only $2000 that first night, so I quit playing blackjack.

I immediately went over to the poker room to find a small $1/$2 NL game. I didn't really feel like playing, but I know that if I didn't play poker, then I'd be sitting at that blackjack table, like a heroine junkie needing a fix...

Minus $90 and 4 hours later (6:30am), I went up to bed. Trust me, I was elated to be only down $2000 going to sleep.

The next morning, I started playing $50 blackjack again. The cards were not kind again. This time, I was done. I lost my last $2000 in the span of 4-5 hours. Not good.

I went up to my hotel room and hit up my neteller debit card. I loaded it up with $1000 and went straight back downstairs to the ATM machine. I started grinding it out at the $50 blackjack table once again.

After jumping around from table to table, I was finally able to find one where the vibe felt good. By 7:30pm, I had won back $2000 again.

After hitting up Mixx for dinner, I jumped right back into the action. This time, I hit the $100 BJ table. I had a lot of making up to do. And although I didn't want to play that high, I needed to get my money back...and there were no open seats in the $50 games.

I grinded it out at the $100 BJ table for a few hours and ended up winning another $1400 back. So, I was almost back to good now. Only -$600. I quit playing $100 BJ.

By midnight, I was -$600 and feeling great! I decided to sit down at the $60 bacarrat table. BTW, my new favorite game is Bacarrat. All I gotta say is "Pay the banka"...tap tap. If you don't know what the means, then you gotta play some bacarrat some time.

I was up five or six hundred at one point, but ended up cashing out with +$140 after the shoe ended.

The next thing I know, I was sitting in the high limit area playing at the $100 bacarrat table. This old man was sitting alone on one side of the table. So, I decided to join him. As soon as I sat down, 5 or 6 bankers hit in a row. The shoe ended and I was now up $1800 for the trip! I was ecstatic! From -$4000 to +$1500 in one day. Holy shit.

After they reshuffled, they changed the limits to $200. I sat down not knowing that they had switched the limits and then one of the dealers told me, so I got up because I didn't want to play minimum $200 bacarrat!

F me...the next thing I know, I'm sitting next to the old man again, betting $200 a hand. The first four hands were bankers, all of which I missed. So, on that sixth hand, I decided to jump in again. I bet banker 4 times in a row and they were all players. -$800 in less than 10 minutes! Finally, after seesawing up and down, I ended my bacarrat session at exactly breakeven.

By that time, it was around 2am. I was still down $600 at that point. I took out $500 and hit the BJ table once again. You wouldn't believe how fast that $500 went. By 3:30am, I hit the sack at -$1100.

On Sunday morning, I woke up ready to make my money back. I played mainly at the $100 table. After clawing my way back to -$100, I wasn't content with still being down. The next thing I know, I was making $700 bets. Yeah...you know what happened next. I lost $3000 back...and that was the most that I was willing to give back...so I left.

So unsatisified.

So, that was my past weekend's AC trip. Not good. I think I'm gonna take a break from AC for at least a month. It's kinda funny...a year ago, I'd be bitter losing $500...now, I find myself betting $500-$700 a hand! My average win and loss a year ago, was -$1000 to +$1000...and now, I'm having $5500 swings! Not good. I can honestly see myself losing $10,000 one of these days. Not good.

So...no more AC for a month. I need to take a break....before I find myself sitting in a Gambler's Anonymous meeting. Hah.

GOOG

Looks like GOOG is going back to retest the low at $331.55. This is not necessarily a bad thing. I'm not gonna buy anything else until I see a double bottom.

NMGC

Well...NMGC is breaking down. This doesn't look good, especially considering that there's voume associated with this drop as well. However, I'm going to see how this thing closes before I make a decision...

In 20 AAPL March $67.5 Calls at $.45

Bullish gap surprise and a retracement back to it's 20 period MA. Time to make some money.

Damn...just got back from the doctor's...

Torn ACL. On top of that, I dropped $3k in AC. AND, I got pulled over by a cop again! He just gave me a warning, but this new car is killing me...wait till I post the pictures of my hood after it slid under a pickup truck two weeks ago...

AAPL bullish gap surprise...

It's go time.

Friday, March 10, 2006

Friday Market Recap...

GOOG down 5.5 , AAPL down .68. I'll say it again...the volume to the downside has been rediculously weak, which means that we're eventually going to go back up...

I entered my AAPL calls way too early and I'm regretting not taking my stops on those, but oh well...I can't win em all. And my GOOG March $400 calls...can you say "EWE"? I'm down about $2500 on those alone right now... My GLD short is looking pretty money, NMGC hasn't budged an inch, but it's okay because I understand that it's a low volume stock...

Alright, here's what I'm holding into the weekend:

5 GOOG March $400 Calls at $5.80 from 3/2
3000 NMGC at $6.69 from 3/8
25 AAPL March $67.50 Calls at $1.10 from 3/8
10 AAPL March $65.00 Calls at $1.65 from 3/9
Short 1000 GLD at $54.37 from 3/9

Longer Term
1 GOOG June $400 Call at $22.00 from 2/22
1 GOOG June $400 Call at $18.80 from 3/7
3 GOOG June $400 Calls at $14.30 from 3/9
5 GOOG June $400 Calls at $10.80 from 3/10
1000 NMGC at $7.20 from 2/15
1300 NMGC at $6.69 from 3/8

One of these days, I'm going to start posting all of my trades in a spreadsheet or something, just so that everyone can reference my trades.

On Sunday, I'm going to try to defend my bullish stance on GOOG and AAPL again. I don't know...I feel SOOOO confident that I'm going to make a ton of money on both stocks...I just can't wait to say "I told you so"...

Well...I brought $3.8k with me up to AC. I'm going to try my hardest not to lose the $6k that I won two weekends ago, back to the casino, but when you're gambling, anything can happen...

Have a good weekend.

Out 10 GOOG March $360 Calls at $3.40 for +$300

In 10 GOOG March $360 Calls at $3.10

I made this trade earlier this morning...

In 5 GOOG June $400 Calls at $10.80

Now, I'm loaded up on GOOG. Even though it's down today, the volume for the week has been low, which only means that we're going higher...

Covered 1000 TRAD at $14.41 for +$750

Easy money...

Blogger.com has been down all day...

Blogger.com has been down all day....

So, I'm up in AC right now, getting ready to battle it out with the casino.

I made a few trades today. I'll post them in separate entries.

Thursday, March 09, 2006

Thursday Market Recap.

There was nothing but selling today. If you look at the intra-day chart of AAPL, right from the open, it went straight down, but it wasn't a panic type selling...it was more of a slow trickle, "let me see how much pain you can withstand" type of selling. Despite most stocks having a down day, the volume to the downside just wasn't there. I still don't believe that this selling will last long. And trust me, I'll be there to catch all of the falling stocks when it's time.

I thought it was time to load up around noon today, but apparently the sellers weren't done yet. I didn't have too much pain inflicted upon me, but I felt a little bit of a pinch today The one trade that hurt me was the AAPL March $65 calls...I tried to predict the bottom, but we all know that it's better to wait for confirmation before buying...I never received a confirmation. Now, I'm left holding onto $1.65 calls...and staring at a $700 paper loss!

Looking at my portfolios, I'm probably down about $2500 or so for the day...on paper...I'll get it back tomorrow! All it takes is one big hit and I'm golden...


Okay...so, here's what I'm left holding:

5 GOOG March $400 Calls at $5.80 from 3/2
3000 NMGC at $6.69 from 3/8
25 AAPL March $67.50 Calls at $1.10 from 3/8
10 AAPL March $65.00 Calls at $1.65 from 3/9
Short 1000 TRAD at $15.16 from 3/9
Short 1000 GLD at $54.37 from 3/9

Longer Term
1 GOOG June $400 Call at $22.00 from 2/22
1 GOOG June $400 Call at $18.80 from 3/7
3 GOOG June $400 Calls at $14.30 from 3/9
1000 NMGC at $7.20 from 2/15
1300 NMGC at $6.69 from 3/8

Alright, it's time to go pick up my car. I'll explain later.

I'm also going to talk about my $500 win last night playing $1/$2 NL.

I'm out.

Out 5 GOOG March $360 Calls at $4.90 for breakeven

GOOG was supposed to bounce from when I bought, but it didn't, so I'm going to play it safe for now. If I have to buy higher, then I will buy higher...I just don't want get caught in a stampede...

Short another 500 shares of GLD at $54.36

It came back up to my short price, so I got more...

No lunch for me...I'm too loaded up right now...

In 3 GOOG June $400 Calls at $14.30

I hope I'm right ;)

Short 500 shares of GLD at $54.38

I was trying for 1000 shares, but they didn't all get filled...oh well...

In 10 AAPL March $65 Calls at $1.65

In 5 GOOG March $360 Calls at $4.90

Time to load up...

Lighter volume retest on both AAPL and GOOG.....giddy up...

$1/$2 NL last night...

I'll yap a little about my $1/$2 NL game last night.

We had 9 players...all of whom I've played with before....the same group that took $360 from me last week.

The first big hand that I got involved in, I had TJ in early position. There might have been a $6 raise preflop or a $4 straddle, I don't remember. I think there were 4 players that saw the flop. So, the flop comes, K-Q-7, rainbow. I lead out $8 with an open-ended straight draw. I get two callers behind me. The turn brings a blank, a 2 or something like that. I check and the player to my immediate left bets out $25. The other guy folds and after thinking for a minute, I call his bet...thinking that I could probably extract at least $35-$40 from him on the river, IF I hit my hand. I definately wasn't getting the best odds on my call, especially considering the fact that I was out of position over him, but I don't know, I felt like gambling. An Ace came on the river and I decided to go all-in immediately for about $200. I had him covered. He thought for a good while before folding his hand. I took it down...

The second big hand, I had KQ in early position and raise it up to $5. The same guy in the above hand, reraises to $16. I call. The flop comes K-Q-5. I check and he bets out $15. I check-raise him to $40. He calls. The turn brings a 6. I go all-in. I have him covered. After thinking for about 5-minutes, he calls with AK. The river brings a blank and I scoup up a $400 pot.

The third big hand, I had J3 suited in early position and limp in for $2. 4 or 5 other limpers see the flop. The flop comes Q-J-3. Everyone checks to the button, who bets out $10. I check raise him to $30. He calls. The turn brings a 3. I bet out $45. He calls. The river brings a 6 and I go all-in. I have him covered. He actually caught his two pair on the river (Q-6), but ended up mucking. Good muck.

The forth big hand. I had 9T offsuit in late position. I call a $12 raise along with 2 or 3 other players. The flop comes K-6-8. The preflop raiser bets out small on the flop, I think $8. I call with my gutshot. The turn brings a Q, giving me a double gutshot. It also bring two clubs. The preflop raiser, bets out again, $30. I call immediately because I wanted him to think that I had a King and he had about $225 behind him. I knew that if I caught my straight, I'd make loot off of him. The river brings my money card, the 7, but it was also a club...putting three clubs on the board. After saying, "I don't know you keep calling me like this...", he bets out $60 into a roughly $120 pot. I was considering raising, but I just called instead. He showed pocket kings for trip kings.

That's about it for the big hands. I think I played pretty well last night. I didn't make any stupid moves and I was able to catch a few bluffers. My goal was to win back my $360 that I lost last week and I was able to do that, so I'm content.

Alright...I'm really out now...

Short 1000 TRAD at $15.16

Okay...so I cover at $15.80 and then reshort at $15.16. Am I nuts?? Or am I just trying to get even? A little of both...F* TRAD. Die sucker...

AAPL coming close to the $64.50 level....let's see how it reacts...

Boring day so far...

I missed a couple of short opportunities at the 10am reversal time...and now I'm left to watch. GOOG looks like it's breaking down right...it'll probably go back down to the $340 level to retest that low, hopefully on lower volume. I'm ready to buy some more June $400 calls...just waiting for the right time...

AAPL...I think we need to go down to $64.50 before going higher. We'll see what happens...

That's about it for now...I don't really see any plays that are worth while right now...

Out 1000 TRAD at $15.80 for -$30

From a $900 profit to a $30 loss. I really don't like this morning action...the 15-min chart on TRAD looks like GOOG's from that day it had a 50 pt. drop in 15 minutes...

It looks like the markets are picking up some steam, so there should be some pretty good plays on the long side today...

Wednesday, March 08, 2006

Wednesday Market recap...

Well...somewhat of a bad day today. First off, I left a bunch of money on the table when my TRAD short dropped about $1 in about 15-30 mins and I didn't take any profits. It proceeded to go straight up after the drop, so I had no chance of covering for a hefty profit.

Secondly, I bought a little too many AAPL calls and way too early giving me a decent sized paper loss (about $-$750) for the day. Sucks!

No profits for the day = Disappointment

Okay...now, I know I've been high on NMGC over the past few months and some people think that I'm crazy, but take a look at the volume today. 185,000 shares traded today, down 3.6%. The last time it went to the $6.60 area, it traded 310,000 shares and 326,000 shares. What this means is that there are less and less sellers at this level. This is the retest on lower volume that I was looking for. All of the signs in this stock, points to higher prices, but I've been fooled by signs before. Honestly, I hope this stock goes exactly the way that I'm expecting it to go...not really for myself, but for all of the people that I've been recommending this stock to.

If the stock goes the wrong way, then all I have to do is sell and take a loss, but having to tell other people to sell and take a loss is a different story...it's a lot harder and it's not something that I wanna do.

Alright, enough of NMGC for now. Let's concentrate on tomorrow. Looking at some of that stocks that I follow (AAPL, GOOG, etc.), I'm noticing that once again, the stocks are dropping on lower volume. Look at AAPL today, 23 million shares, -1%...two days ago, it traded 31 million shares. Now, take a look at GOOG, 11.7 million shares traded today ...this is peanuts. The average daily volume on GOOG is 16 million shares. Until we get some real volume on the downside, I'm not going to worry about these 11 point drops like we had today.

However, if you look at the metal stocks, like GLD, PD, BGO, DROOY, etc...these stocks are ALL dropping on big volume, which means that we're going lower...it's just a matter of time. I'll be looking for short opportunities in the upcoming days.

Okay, I'm gonna end today with my current holdings:

5 GOOG March $400 Calls at $5.80 from 3/2
3000 NMGC at $6.69 from 3/8
25 AAPL March $67.50 Calls at $1.10 from 3/8
1000 TRAD at $15.77 from 3/8

Longer Term
1 GOOG June $400 Call at $22.00 from 2/22
1 GOOG June $400 Call at $18.80 from 3/7
1000 NMGC at $7.20 from 2/15
1300 NMGC at $6.69 from 3/8


Btw...I'm playing in a $1/$2 NL live action game tonight. Let's hope I do a little better than the $360 beating that I took last week...

"Can I get a Boo-yah?"

In 3000 shares of NMGC at $6.69

The rest of my shares just got filled about 15 minutes ago.

Covered 1000 TRAD at $15.59 for -$40

Ehh...I didn't feel like holding 2000 shares short over night. This stock is going down, but anything can happen over night...

In 25 AAPL March $67.5 Calls at $1.10

The S&P just broke out. Looks like we're gonna try to rally from here....

I'm starting my load up...

100% retracement on TRAD. It's kinda pissing me off...I don't like the retracement, so maybe I'll cover some or all of it...

Short another 1000 shares of TRAD at $15.54

I missed the initial exit point and TRAD has retraced back to the 20 period MA on the 15-min chart, so it's a short again. I've got 2k shares short at $15.65 right now...we're going to $14.50 dammit!!

In 1300 NMGC at $6.69

I bought this in my longer term portfolio. I've also place another order for $3k shares in my trading account. Only 375 shares @ $6.69 have been filled so far...

How about the TRAD, huh?

Target on TRAD is $14.50

Buying NMGC on the next dip that's coming...

The next bar on the 15-min chart should be a retest of today's low at $6.61. I'm gonna buy some more shares in my longer term portfolio...probably 1k shares...

Short 1000 shares of TRAD at $15.77

Time to make some money...

Morning Update...

I'm not quite sure which direction the market is going today. Most of the stocks that I watch have already gone down 3-4 days in a row, so I can only assume that we're going to have a short term bottom soon. Until the market picks a direction, I'm not going to be forcing any plays.

Here are some ideas for the day...GLD is going lower, AAPL is looking for a bottom, NMGC is a BUY, BUY, BUY...

Here's what I'm currently holding:
5 GOOG March $400 Calls at $5.80 from 3/2

Longer Term
2 GOOG June $400 Call at $22.00 from 2/22 & 3/7
1000 NMGC at $7.20 from 2/15

Tuesday, March 07, 2006

GOOG down 17 pts. after hours...

All I know is that GOOG is dropping on very little volume. 9.9 million shares traded today...the average daily volume is 16.1 million shares. Perhaps we're going back down to the $337 area to retest that low?

http://www.amtddj.inlumen.com/bin/djstory?StoryId=Cra0tuaebqLqWmdG2mtG

Unless we get some more volume to the downside, I'm going to be accumulating shares...every drop from here is a buying opportunity, in my opinion...

Out 30 ENER March $40 Puts at $.50 for -$400

Yeah...I was initially thinking that ENER would go below $40, but I guess my initial analysis was incorrect. I was actually going to buy another 20 contracts at $.20, but my order never went through...oh well....

Small losses, big gains

This is the motto that I have to follow...(if only I would've listened to myself after GOOG started tanking...)

Out 10 ENER March $45 Puts at $2.75 for +$1525

This was nice...the trade took a few weeks, but whatever....

I'm liquidating my puts...

Looks like the S&P made a W bottom with volume. So, I'm not going to go long just yet, but I will be getting rid of my puts and shorts...

In 1 GOOG June $400 Call at $18.80

I'm accumulating contracts as we go lower. I still think we're gonna hit $511.95 on GOOG within the next 3-5 months...

...I wanna make $100,000!

Holdings...

Here's what I'm currently holding:

10 ENER March $45 Puts at $1.225 from 2/23
30 ENER March $40 Puts at $.633 from 2/24 and 2/21
5 GOOG March $400 Calls at $5.80 from 3/2

Longer Term
1 GOOG June $400 Call at $22.00 from 2/22
1000 NMGC at $7.20 from 2/15

The market still looks pretty bad right now. I'm not going to go long any positions until I see signs of a bottom...

Mid afternoon lull...

Well, we've entered the Market duldroms period (12:15pm till 2:00pm). The stock market generally doesn't move much during this time because market makers and specialists are out to lunch or doing errands or whatever....

Since it doesn't look like anything is moving, I'm going to step out for a bit...

TRAD looks like a short here...

I think I'm gonna short some soon....trading at $16.75 x $16.76 right now...

Out 1000 GLD at $54.79 for +$330

Giddy up!

Out 5 PD March $140 Puts at $7.4 for +$850

I love it when a plan comes together - Hannibal

Out 10 ENER March $45 Puts at $2.45 for +$1225

I'm holding the other half for the exact bottom!

I wanna cover my PD and ENER puts so bad right now...

...but I also want to catch the exact bottom of these drops....

GREED AND FEAR drives a market

The above statement is SOOOOO true....I am showing signs of both right now...

Short 1000 shares of GLD at $55.12

Bearish consolidation and yesterday we had big volume to the down side. We should be going lower...

Monday, March 06, 2006

Market recap...

You know...the more and more I look at today's action and the volume associated with today's action, the more I think that we're going to have a little turnaround tomorrow. For instance, if we look at PD, we were down $6.22 on 2.9 million shares today. THIS IS NOT THE SIGN OF A BREAKDOWN. A breakdown should be represented by heavier volume.

If we look at AAPL. It was down $2.32 or 3.4% on 32.5 million shares. The last time we went down to $64.53 on 2/9, we traded 41 million shares. The following day (2/10) we got a bottoming tail and we traded 62.8 million shares. Today's action is telling me that I should be buying into this drop and NOT short selling.

So, here's my list of stocks to watch out for tomorrow:

AAPL - great support at $64.50
NMGC - it's time to buy again
GLD - oh man...this one came down on volume today...we're gonna short this puppy tomorrow
GOOG - coming down on lower...as cramer would say, BUY BUY BUY

Alright...I'll tell you right now that I'm going to be making a ton on AAPL over the next few days. If you want to join me, then lock and load...

In 5 PD March $140 Puts at $5.70

I'm still very bearish this stock. There was very little retracement after the drop this afternoon, which makes my case even stronger. We're headed lower...a LOT lower...

My current holdings...

5 GOOG March $400 Calls at $5.80
1 GOOG June $400 Call at $22.00
20 ENER March $45 Puts at $1.225
30 ENER March $40 Puts at $.633

The 5 GOOG calls are kinda making me gasp a little bit, but it's alright. I think the market will bounce one more time before options expiration day, which is March 17th.

I'm watching AAPL closely right here. $64.50 should be a decent support level...lock and load...

Beat me with a stick...

Damn...someone beat me with the bat...PD is still dropping...I've already missed out on $1,000. GLD is continuing to drop as well...missed out on $400....

SHIT...for once, I'd like to get an exact bottom....

Out 10 PD March $145 Puts at $7.60 for +$2700

Nice...I got some milk money for lunch...haha...

We're going lower, but I'm going to wait for a push higher before reshorting....

Out 1000 shares of GLD at $55.33 for +$880

I love it when a stock does exactly what I'm expecting it to do...

Short 1000 shares of GLD at $56.21

I'm pre-empting the fall that's coming...I probably should've waited for it to break $56.20 before shorting, but I'm bored...

In another 5 PD March $145 Puts at $5.00

I got 10 contracts at an average of $4.90 right now. Half of these contracts are just for a day trade though...I think...

Dammit...DCNAQ trading at $.99

I just missed out on +$450 because I sold too early!

In 5 PD March $145 Puts at $4.80

I'm paying a pretty hefty premium for these puts, so I need PD to tank big time.

Out 3000 DCN at $.85 for -$290

Oh well...it was a pure speculation play anyways...time to move on...

New ticker symbol for DCN

The new ticker symbol for Dana Corp is DCNAQ. The symbol has changed because they're moving to delist the stock from the NYSE.

PD - in play

I'm looking to short PD this morning. It's been hovering below it's 20 day MA for a week or two now and it's made a nice three day run, so it's time....

Friday, March 03, 2006

Out 1000 shares of GLD at $56.25 for +$120

My first trade in the new system. $10 total for commissions, which means more profits for me. It might not seem like a lot, but in the long run, it's going to save me thousands...

Covered 375 shares of ENER at $47.60 for +$26.25

That's right...I just made $4.25 after commissions! That's a friggin happy meal...

Nah...this was the 375 shares that I wasn't able to sell at the close a few days ago...ENER is tanking now though...I'm still loaded up on puts, so I'm in good shape if it keeps dropping....

DCN halted...hah...nice...

Apparently they just announced bankrupcy...while this is not good, it can't be all that bad right? At least they have protection against financers taking all of their remaining cash, right?

In 1000 shares of DCN at $.80

Alright, my average is at $.9467 right now. 3000 shares.

Damn...DCN going south...

well, maybe this was the drop that I was looking for....

Short 1000 shares of GLD at $56.38

I'm testing out my new brokerage. This GLD trade is just for a scalp...

YAWN....

someone wake me up when the market decides to move....

In 2000 shares of DCN at $1.02

It LOOKS like it might have bottomed...if I can make $1k off of this stock, then I'll be happy...

Thursday, March 02, 2006

Opened a new trading account...

So, I just opened a brand new brokerage account at Interactive Brokers. It took me less than an hour to fill out all of the forms and another day to have all of the funds transferred over to the new account. I did this yesterday. I should be able to trade using my new account tomorrow.

The reason that I'm switching over to a new brokerage is because I get use the "per share" option, where I pay commissions on a "per share" basis. From what I've read, this should save me a ton on commissions every day. Instead of the $10.99 that I'm paying now at Ameritrade, I'll be paying 0.005 per share, which means that a 1000 share trade will cost me $5....a 200 share trade would cost me $2. Nice huh? The only bad thing is that a 5000 share trade will cost me $25. Still not a bad deal though, considering that I don't make that many 5000 share trades.

Not only do I get the discounted commission plan, but I also get direct access to the market...meaning, I can do exactly what the market makers do. Exciting huh?

If that's not enough...I also get to start trading FOREX futures, the S&P e-mini, and basically any stock in any of the major world markets. Sweet huh?

To say the least, I'm excited to get started. I feel as though I've opened up a whole new can of worms. And I'm on my way to becoming a real professional trader...