My last post correctly predicted the past week's ebb and flow. It almost seems we had formed a pattern in the last few weeks where the markets would rally in the first half of the week and exhaustion and fear would set in by the end of the week. The bottomline though is predictions aside, the next few weeks consist of wide swings on either side. If you trade in volatility you could mint right now but trading volatility requires nerves of steel.
No new trades for our portfolio for now. I continue to hold my longs. GLD is looking it may continue with its own big swings as it kept demonstrating so in the past couple of weeks. I am long term bullish on gold though. As for our BZH short, many seem to be surprised to see a housing stock rise amid the turmoil. I think this is a fake out rally. BZH could rise more before it soon begins its downtrend again. It helps though to know that we are still up by more than 60 % in BZH in spite of its recent rally.
If I get time from my work on Monday evening, I might be looking to place some new short term trades. I will keep you posted.
Good luck and Hang in there
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Open List
- BZH (Stock) - Sell Short - Opened on 2/14/07 at $41.54. Currently at $11.30 with 63.43% Gain
- ISRG (Option) Jan08 130 Call - Buy Long-Opened on 3/8/07 at $9.60. Current at $72.40 with 654.17% Gain
- GLD (Stock) - Buy Long - Opened on 7/10/07 at $65.61. Currently at $66.57 with 1.46% Gain
- PLUG (Stock) - Buy Long - Opened on 7/16/07 at $3.25. Currently at $2.77 with 14.77% Loss
Closed List
- CRDN (Stock) - Buy Long - Opened on 2/14/07 at $56.44. Closed on 07 at $79.37 with 40.63% Gain
- TSO (Option) Jan 50 call - Buy Long-Opened on 7/10/07 at $14.40. Closed on 7/14/07 at $12.70 with 11.81% Loss
- CTXS (Option) Jan 08 30 Call - Buy Long - Opened on 7/18/07 at $6.90. Closed on 7/23/07 at $9.20 with 33.33% gain
Total Percentage Gain/Loss of Closed List Since Inception: 32.7% Gain
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