Oil again drops to $58 with a minor rebound, DJIA soars!
Okay. So oil dropped again and the DJIA has a new price record. Big deal because it was coming and expected. I believe with the positive comments from Fed Chairmain Bernanke and new highs that we will see new 52 week highs in expecially retail and technology stocks. I just recently was called out of my OIH OCT 125 PUTS @ $118 stock price making a 100% profit (B @ $3.80 S @ $8.00). Although I think oil is going much lower to around $50 BBL I am not confident so I’m waiting for the signal. Energy stocks have been down for over 2 months with 3 to 4 rebound peaks going down. It could be the time for a major rebound. My trade on OIH actually sucked because it went up to $130 and I could of made a CALL then another bigger PUT play down at $130 to $120. There is always money to be made in the market, but with my current job it leaves no time. I usually try to trade if I can trade early in the morning since I am in Hawaii time zones I’m 6 hrs behind the market. I also just sold out today of SBUX JAN 07 $45 CALLS @ $38.40 stock price making 350% profit (B @ $.10 S @ $.45). Both my SBUX and OIH play took between 5-10 days. In between those days I had to have great patience and calmness when my account was negative. Buying lots of time does help when stock movement goes up and down. I believe as long as the trend is going up and no negative news has majorly hit the stock by itself then I can wait for the movement up. I want to be a very successful trader so I can get to the point where I do not have to wait and go through ups and down. I can trade 1-2 days and make the same winning trade without stomaching a potential loss. I’m not perfect trader. I still do dumb things even though I’ve been taught by the best and a person I really look up to. In time better more percise trades will happen and I will overcome my bad habits.
I guess you might be thinking these trades are awesome and they are, but yesterday and today when I made two nice sums of money it was kind of sad because I didn’t have anyone to share the good news with. My new roommate, I’ll call her “Oceana”, decided to be the party girl. I really wanted to share my positive vibe, but I guess as an individual winner in the market all I could do is pout. It sucks. Okay as you can see I have a crush on her and were roommates and I know this is going to just kill me. I need to shut it off and focus on trading.
You know I could just blog about women. They are too easy. A guy like me. It’s pathetic. I’m too funny. It’s like the Revenge of the Nerds all over again, but I know I’m much more confident then that. I can’t even ask a woman out yet I feel I have some real talent for trading. I get upset stomaches when I really like a girl. I wish I could just not show it. I can talk about stocks all day, but when it comes to telling my girl my feelings I am so screwed. I think I need a shrink. A real good one. Someone that can hypnotize me and make me a real ego for myself. I think it can only be done by yourself. I use to date lots of girls. I don’t know what happened. Well I know, but its probably why I am and who I am now.
I really don’t want to make a lot of money some day in the future and not be able to trust my girlfriend or new wife that she only wants me for my fat wallet and not just me. So the question is do I keep secrets from the ones I am interested in or do I just let them know?
Well, that’s todays finished trades and personal blogging. Probably a little too personal, but I think it keeps my writing amusing. My AMAT and MSO CALLS I believe will take longer to develope, much longer because they don’t move fast like more popular stocks. I also believe BRCM @ $29 is still undervalued and cheap ready to move back up to $31-35. I tried buying some FEB 07 out of the money CALLS today, but was unsuccessful at getting an order completed.