Paul Meyer Buys Houses

Posts tagged “2008

market still confused what to do…this week call practice plays only -20%. bailout plan a success? wall st. doesn’t think so.

my call practice plays probably would have done better the day after but i was busy. what happens when you are busy a miss 2 days in the market? more losses for not paying attention. i still had only -20% which still isn’t bad compared to my overall picks and total sum profit %.
i figured the stock market would tank after the final decision has been made on the bailout plan. i didn’t think it would really make a big difference, though if wall street did favor the bill it should have made the market jump higher. so now that the market has fallen, complete opposite of what the news told us, now we are heading into a real october crash. it’s already in pure downward spiral, but will likely dive even deeper. what a mess for a new president. i was for Palin for a long time. well, she’s just freaken hot there i said it, but Obama is the right choice.

here are my call practice plays 9/3 – 10/3 sept/oct end of month.

as you can see it was about 50/50. energy still seems to be bright and wells fargo buying wachovia helped make a big move. wachovia’s a great bank. i wouldn’t be surprised to see it go back to $20-30 once it starts running properly again or make wells fargo worth more. i’m sure citi bank is having a fiss over this only offering $2 billion and wachovia opted out of it. i’m sure there will be hassles over legal issues between all three banks. i’m sure its just a power trip.

market continues to tank. AAPL news. dead options.

Well as anyone can see the stock market is sliding off the charts. All my charts show a continual fall unless or should I say “when” the market decides to change direction. Currently all tech and energy stocks are creating huge whammy engulfing bearish candles continually. Instead of like 3 bearish soliders its like 20-30 bearish soldiers which really makes me believe change is due sooner or later. I’m really curious what is happening with First Solar – FSLR. Man this stock has been hit hard with Google – GOOG. Both stocks have fallen around -$80 points. Talk about a killing if you were playing Put Options on both of these stocks from the start. You are talking about a small fortune.

Apple recently will have news of new products and price decreases analyst say/think. I can already assume the price will drop if they do lower prices because that lowers margines and growth in big money long-term. It isn’t like bran new products with big margins that grows the capital. Now they are lowering prices which will reflect AAPL stock price lowering. If the low this year was around $112 I believe and its currently around $159. Then if this news is all true of lowering prices even if the iPhone is a hit then buying Puts maybe the smartest action.

My current options in SWN OCT calls are dead and I’ll leave it at that. My account is back to zero. When will I ever have the discipline and be prepared to actually sell out and buy in the new direction I don’t know. Maybe when I have the time to just watch and actually take the action. Seeing these huge slides, no money to trade, and no real time just sucks. These swings are huge and option traders “should” be making money, but then again if you are wrong and you won’t admit it then you probably won’t have enough money left to trade.

Besides all that crap because it is just crap in my life not working out. I think I’m going to use all my GI Bill money for the next 3 years once I’m out to go to school full-time and since now you get BAH too I can actually stash money away in account for another real estate deal while going to school. I’m pretty psyched. Schools like and are available and fully paid for. I think it would be fun to attend. I’m also considering The Texas Culinary Academy in Austin. I want to hit a big city where I might be able to make a living somehow until my trading starts earning instead of losing. I need to stay positive damnit. I admit its hard, very hard when I just keep fucking losing, yeah. I’m pissed today.

Sold out of AAPL & QQQQ May Calls / (+AAPL) (-QQQQ).

I’m happy the Fed cut rates because I’m purchasing a home in Oahu (Mililani, HI). So hopefully my actually interest rate for my loan will go down as well. Apple spiked up to $180 and sold me out around $178 at $8. I likely could have gotten more, but I can’t watch the market so I’m happy that my GTC order was sold out. As for QQQQ. I’m just going to take a small loss and take that couple hundred dollars and put it into something else like Visa (V) because the QQQQ’s did not move like I thought they would with all the Tech moving.

My order:
4/30/2008 11:08:37 AM (ET):

Symbol: .APVEO
Description: AAPL MAY 175 Call
Stock: AAPL at 178.75
Action: Sold To Close
Quantity: 1 contract(s)
Price: $8.00
Commission: $14.95
Reg Fees: $0.01
Net Amt: $785.04

Bought Price $5.40
Profit $220

Sold out of my QQQQ calls:

4/30/2008 3:47:52 PM (ET):

Symbol: .QQQEX
Description: QQQQ MAY 50 Call
Stock: QQQQ at 47.26
Action: Sold To Close
Quantity: 30 contract(s)
Price: $0.10
Commission: $45.00
Reg Fees: $0.01
Net Amt: $254.99

Bought Price $.14
Loss $120 (-$150 w/fees)

new trend chart technical analysis for January 11, 2008 stocks

I’ve got the time to upload some new trend charts I’m studying to see them just click on the flickr trend picture column or click here to see my flickr page of all my trend charts.

trend charts include: AAPL, ATVI, C, DKS, FXI, HOKU, HANS, MA, INP, TTM, YHOO, GOOG, RIG, SWN, RIMM

check out INP. I’ve seen this stock go from $48 to now $112. Like FXI I think it still has much room to grow with small downs and big moves up with India’s major growth. I believe TTM will start to follow india stocks with its new plan for $2500 car.

check out AAPL. will it get support at current price levels ($172)? major trend will be breached soon if Mac Expo 08′ and earning on january 18th do not give investors reasons to keep charging the stock up. If you look at any other tech stock right now BIDU, GOOG, RIMM charts show in favor of major downtrend to form if negative opinions continue on the economy.

btw – only 70 pages left of Alan Greenspans book! great book and very insightful.

sold out of HOKU call option up +100% – in AAPL call option on big dip

I successfully sold out of HOKU JAN 15 Calls @ .80 (bought at .40). It is currently trading at $1.00-1.50 which was where my initial GTC order was at but I reduced my sell price to get out of it quicker. Currently in AAPL JAN 220 CALL at .90. I would of liked to buy it at the end of the day down -14pts at around .50, but I don’t have that favorable time to wait, so I bought in it down -6pts at $190 at .90. My current GTC order is up .50 cents at $1.40 in stead of up $1.00 more. My plan is for it to bounce back up to $200 to sell me out quickly in the process going into 2008 mac expo and earnings Jan 18.

now for a complaint. something I usually don’t do. i officially dislike Wells Fargo banking customer service. I want to go to their call center and fart until my face is blue, then punch them all, then close out my account. They make it incredibly hard for a military member who goes to many port calls to take a block off a credit card and checking account. They know the account holder is active military on a ship although they treat you like a theft criminal. I’m like “you fucking bastards, if I was a theft I wouldn’t know everything I’m telling you, sorry I don’t know my account number I never have, but here is everything else, where I am, and all my current balances”. Those bastards piss me off. Well they prevented a bill from being paid, a storage bill, so now I have to send a bill pay check from another bank just to pay it so my shit doesn’t get auctioned off while on a patrol PROTECTING THEIR FUCKING ASSHOLES. as you can see this stresses me a bit out. well cheers!