But I’m sure he’ll be pissed that I posted this photo!
Well, it looks like my GG and SKF buys last Friday were solid for this week! Too bad I jumped ship earlier in the week (still made money, just not as much as I’d be making right now). For some strange reason, I have no problem hanging on to losers and letting them continue to lose, but when I get a solid gainer, I’m out. It’s something I’ll work on!
Commodities, Russia, and eventual FRE & FNM meltdown didn’t seem to affect the market that much. I actually was thinking the 11,400ish level of resistance was going to hold up today, but it didn’t! With that positive move, I’m feeling a little more bullish - for the short term.
I’m currently holding UYG and a small short position in FRE, as well as UAUA which I got for a bargain basement price of $10.82 this morning. I’m not bullish financials or airlines for the long-term, but with today’s cRaZy chain of events I’m thinking commodities pull back some, financials move higher, and FRE keeps losing.
With all the crazy geopolitical issues (Russia), the eventual bounce in commodities, and the current technical aspects of the broader market, this week should be very volatile, and hence good for trading. I’ll be looking for some very short term trades for this week, but currently own the following:
GG - Gold got it’s ass kicked last week, there should be some short term upside here.
SKF - Also got it’s ass kicked, but things are too ugly with the financials. People are beginning to talk about credit card defaults, which would be a “very negative catalyst.”
GOOG - The Android phone OS is a flop, and it hasn’t even launched yet. But Google is the internet, and I love the internet.
IAR - I use Google, you use Google, but plenty of people still use the phonebook. Also, more importantly, plenty of small businesses spend their small marketing budgets on phone book ads.
ABK - Everyone thought S&P would kill them, but guess what!? They didn’t. This is purely a speculative play, I’ll either bank tons of coin, or not.
I’ll also be looking for oil plays, either up or down, via UAUA - because LCC kicked my ass last week. By the way, as everyone’s been saying, if you have $2 billion in cash, why dilute your few trusty shareholders to raise a couple hundred mil?
So it’s been four days, and my comment on Chris Daly’s blog hasn’t been approved. The post I was commenting on had to do with CW Nevius’ misunderstanding some events at the Rescue Zoo hearing.
The really funny thing, is in his header is the following:
Welcome to The Daly Blog! Here you will find my unedited, uncensored, unadulterated analysis of San Francisco politics. Check back regularly for the real deal — no holds barred!
But don’t dare try to analyze him! If you do, that will be edited, censored, and…adulterated? C’mon Mr. Daly, you don’t seem like the kind of person that would censor comments on his blog - especially a blog that is suppose to be the “real deal.”
So I thought June was a great trading month, little did I know July would be even better!
I entered the month with an account value of $12,687 and left with $19,768. $5,566.03 of profit was unreal! Oil breaking down + my love for trading US Air (LCC) = my most profitable trade at $2,020. My really big trades would’ve made July an even better month if they weren’t accompanied by some large losses. Airline shorts and longs, in addition to financial shorts and longs made up the bulk of my trades, with large loss and gains going in both directions.
93 trades were made in July, which comes to $119.69 of average profit per trade. Much better than June’s $53.24 per trade (after commission of course).
So far August has been miserable, the number one thing I need to work on is loss management! The majority of trades I enter are good, but when the bad ones come, I’m not jumping out when I should.
My trading spreadsheet can be seen here. Your viewing of that information is for your entertainment only, and should not be used to guide your personal trading and/or investment decisions. In addition to all that SEC disclosure stuff, no making fun of my sloppy trades! 