Sell off completed. – Bought more V calls. Bought Oahu Home – India Business Venture news

So the market sold off thursday and friday. I expected the market to dump friday. Historically it seems there is more bad news on a friday then good. I suppose the CEO’s can take off quickly on their yachts and forget all the bad earnings they just reported.

I bought 10 more Visa MAY 85 Calls – out of the money this time. My last calls went up to $5.80. It would have been nice to sell out and rebuy back at $1.55 like I did on Friday, but work prevents me to and my GTC order was up to high I admit. I lowered my GTC order at $5 expecting Visa to move back up monday through wednesday with the market recovering some positions especially in a hot IPO like Visa that is a money maker and growth creator. I could be wrong I have been before! Yet I only have like 4-5 days to hit my GTC order and with time against me I’m looking at Tue or Wed then I have to sell my calls and either take a loss or bigger loss = $0 expired calls. Currently I have around $2000 in the position.

My India venture is not running smoothly. It is so wishy washy. I’ve talked with other American entrepreneurs who use India either as a partner or outsoucing and the rumors seem very true that there is a major problem in communication. I keep asking my partner to email our work completed for our customers such as a Daily Project Report which I created. All the project manager has to do is type in a 2-3 sentence summary of the work completed for the day and email it to the customer, myself, and my partner running the business. Does this sound like too much? When you continually see bitching customer emails and communication is definitely unclear you think doing what your American partner asks is completely understandable not cumbersome. All I want is just 2-3 sentences for me and our customers. This keeps them off our back, gives them an up to date understanding of what we are doing for their business, and creates a legal log as proof with an email trail showing we are completing work. Now why after over a week asking for this to be done daily it isn’t??? Two words = No Control. I have no control. All I can do as an investor and partner in this India business is to invest in them and realistically “hope” they succeed and finish the jobs the current mismanaged way they are doing it. I feel no one is listening to me and taking my views and thoughts into consideration. I don’t like managing other people, but clearly there are problems and a daily update for the customer would 100% clearify what the hell is going on! I hope my partner starts listening to me and let me help him create better clearer customer satisfaction. Business to business is all about referrals and currently being in the customers position even if we do have problems with them is keep things clear and understanding how they think. I don’t think my partner really cares and that is going to create monsterous problems in the future building our business together. I wish I was there so I could be with the team, write a brief summary, and report to the customers myself. We are trying to act like a big corporation but obviously we are acting like a small two person business! hahahah. Personally, I think showing customers we are about the IT solution projects we do for them will boost our customers thoughts about our professionalism and giving us referrals to keep us in business.

Anyway. I’m buying a condo in Hawaii. I can’t remember if I mentioned that. It will be a 1023 sqft, 3bed/2bath, 2 parking space condo in a town called Mililani in Oahu. It is centrally located in Oahu and the back door to the North Shore. I got it bank owned which was abandoned and got it for $235,000 around $60,000 under the 2007 tax assessment and under $80,000 2008 market assessment value. It is a great price and in a very nice attractive neighborhood. It might sound expensive but similar costs over $325k – 600k. I’ve already put an Ad out for roommates even though I don’t even have it in my possession yet. The kitchen needs to be redone so I know that is going to cost me $10k. I’m going to sell my boat and take that money to repair the kitchen. It will be a 30-45 minute drive to work, but well worth it finally owning and living in something I’m going to love. Plus renting it will not be a problem if I ever leave Hawaii and I got a VA loan being military so I recevied 100% financing and no PMI. So I definitely got a bargain and made big money by just getting ahold of it negotiating with the bank.

I suppose I will keep blogging for you 1-5 blog readers curious about what another entrepreneur is up to. Please if for some reason I make you super rich pass it forward and share the success with me financially or making me a partner 😉

6 responses

  1. Nice site.

    I’ve been reading your site on a regular basis as I am interested in trading. I am very new. (I haven’t traded anything).

    I would love to have some guidance from someone who is experienced like yourself.

    If you could drop me a message that would be great!


    Derek 🙂

    May 13, 2008 at 3:59 pm

  2. derek,

    I hope the information I sent you helps. Just study and understand you have a life time to make millions and perfect your trading skills.

    May 13, 2008 at 9:01 pm

  3. Great post.

    Personally, I’m betting big in the solar sector. I believe it will be huge in the future, with rising oil prices. I’m currently holding ESLR, JASO, SOLF and WFR, and considering entering in either ASTI or DSTI.

    Stay safe, stops are in, emotions are out!

    May 16, 2008 at 11:48 am

  4. Good luck with Visa. I have some way out of the money Sep 95 calls. Hoping for a rebound. Wrote about this recently at my blog and would be great to get your thoughts on wether I should hold on or sell the calls now for a loss.

    May 16, 2008 at 9:11 pm

  5. hello blog readers.

    well lets just say I’m at $0 again in my options trading account. my trading plan WAS to get out but i suppose emotion kept me in until the last day putting me at a -$2000 loss.

    i keep hearing stops but have never been able to figure out how to use them. i wish i had someone here on the island to teach me how to trade stops well.

    Andy – as for your calls you’ve got sep. … 95? i still think you are good. if you look at the daily chart it is still moving up the trend line with the wicks closing above it constantly without any breaks. as for me my may calls just expired to early and i didn’t not have enough time for the move back up.

    i’m an emotional guy and i’ve yet to be able to stop my bloody trades…

    May 19, 2008 at 7:12 am

  6. this $2000 could of bought me the washer/dryer/fridge i needed for my new condo.
    i’m glad i withdrew that $5000…boy that was a smart move. now at least i have money to close on the condo…

    May 19, 2008 at 7:14 am

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