Tuesday, July 22, 2008

What do I know...

Markets works in mysterious ways...
Most of the long calls positions mentioned in this post

Working on railroads (BNI),(CSX),(UNP)

except for (TIE) and (UNG) worked out quite nicely. ( But I am not to concern about these two - (UNG) will reverse - I have Aug/Sep calls and (TIE) - even if that will not happen - these positions are "in full compliance" with risk/money management - less than 3% of portfolio each - as oppose to huge (XLF)/(RKH) long calls positions I was holding during last 8 (?) days - that position accounted for over 45% of portfolio, I did have few unpelasant moments, but as result it produced over 230% return on TOTAL PORTFOLIO VALUE in less than 8 days...w o w... take THAT to the bank!)

Tomorrow morning I will be 80% on cash and depending on my tonight's research MAY ( or may NOT) open long calls position in (USO).
Financials have greatly shifted risk/reward ratio and lost all interest to me as of now
, unless I decide to go short. ( I still have 8 days old long outright UYG position in my pension fund - where I don't trade as much as in my primary trading account )
Nasdaq MIGHT take a helm ...some..but it will NOT be as exciting ( no peeing in the pants :) as financials run ...WAS. ( I guess that is about it for financials for now )

I might even take another vacation ( my last vacation was interrupted by my mother's illness AND a great chance to capitalize on financials bottom)

P.S. I just cannot believe that (AAPL) @149.4 AH which I bought yesterday after ER and sold this morning @152.80 made it all the way up to $162 - what do I know...never been too patient ( AXP ringed in few % profit as well - that I just set sell order and it fired up while I was taking my "beauty sleep" :-)

P.P.S
My friend Brandt from Trade Guild sees some "value" in crude oil refineries, but that trade is for "Fast and Furious" - if oil will go up there will be not much upside there except for short lived short squeezes

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