Monday, June 30, 2008

Sold one/Missed selling other

Well, not exactly as planned... kinda break even-ish

Sold Palm Aug5put 100% gain... BUT...
Missed selling USO july111call (would have been 15% gain). I forgot to set my stops last night.

As for today. I didnt see anything that told me it was a good idea to enter an index put. Even though Auto/construction news comes tomorrow, the technicals suggest a rally. Which is good because I want cheaper puts.

Energy was a winner. Particularly HK & SFY. There are others of course.

I missed the BIG move in PCLN. Totally lost track of it. The put buy was this past Friday, after the confirmed bear close the past Thursday (7/26/08 from Tim). Chances are it firms up a bit from here. Their earnings report is in August. Depending on how it does this week, i may enter the position. But consider this a lost 100+% gain opportunity.

My eye is firmly fix tomorrow on Oil inventory numbers. If they are higher than expected, we will find a dip. If supply is lower than expected. I might need to get in there FAST... As the Bear perfect storm of high Oil and possibly damaging unemployment numbers come thursday.

For now i am holding Aug110call. Maybe we get another spike... who knows. Clarity after crude numbers @430am HST.
It really is simple...

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