AU Trade

I have bought 100 shares of AU at 26.50 as planned in yesterday watchlist with stops in it.

Also Bought 100 USO at 27.50 with stop on it.

Watching

Higher Highs and Higher lows. Oversold Stochastics can provide good risk to reward. Watching entry tomorrow around 26 with stop if close below 50 MA. Target around recent high around 30. Recent uptrend is on higher volume. Only concern is little higher volume on today's pullback.

First Time Selling Option

I have bought 100 USO at 28.00 today and sell FEB 29 call option against it at 1.20 today and collected $120 commission on it. This is my first covered call. My first executing put option (i had bought FAZ put JAN 09 expiration) was disaster and sent my account in -ve terittory. So this time i am trying selling covered call option and see how i do it.

I also bought 100 CBI at 11.00 today with 10.50 stop and about 14.00 target.

Trade

Finally i am out of my all FAS position with loss. Good Loos. As always happens to me, i didn't sell earlier with small loss and i kept it for it to be big. And finally i gathered courage to put stop on it and it did knock me out today at 7.90, it went up to 9.20 something. I could have reduced my loss but my luck :(

I don't know if financial are strong enough to run big from here. Today suddenly market changed because of rumor of mark to market send market higher. Tomorrow is Job report and let's what it brings tomorrow.

For me, i am not sure which direction market wants to go. Sometime i feel not to trade at all until direction becomes clear. My recent losses has put me at almost 5% loss for the year. It wiped out my all profit i gained since December 08. Too bad. I am trying not to discourage and hoping this will be valuable lesson to me.

Trade

• Today morning i have bought 100 shares of USO at 28.25 with stop order of 27.75.
• I have bought ESI FEB 120 PUTS at 2.50. This stock has moved from 70 to 133 in last two months. In expectation of small pull back i have bought this position. I will sell it if stock closes above 135.
  

Sorry

I haven't been able to put new trades, my watchlist or weekly review for last couple of weeks. I have been very busy at work and not able to spend enough time to looking at this things. I know its just an excuse but still that is reality. Once i go home, i am too tired to do anything.


I have not done any new trades in last 10 days. I have missed lots of good oppertunities and also have sold lots of good puts too early. I have to live with it :)

I will try to get better again with this stuff.

I have bought another MON 75 FEB Call at 4.00 Today. So i have two calls of FEB 70 at avg price 5.50.

I am turning little short term bullish so let's see if i am right or not. I am also thinking about going long in USO with stop below 27.50. I will see how it opens tomorrow and will take action on it.