A stock market trader's blog

Watchlist: Dec 06 2009

qmar — Sun, 06 Dec 2009 23:27:54 +0000

Just two stocks this week on my radar: FTO and TTWO

Trade Alert: Day Trade in Take Two interactive

qmar — Sat, 05 Dec 2009 21:06:13 +0000

A nice day trade in Take Two interactive. why TTWO? premarket it tanked by 35% so it popped on my radar, I did a quick TA and saw support @ $7.14

On the 9 month daily chart you can see a support back from July where it strongly bounced back from this level.

So I watch this closely as it goes down all the way to $7 and bounces back (what is with these round numbers?)

I bot 100 at $7.24 on margin money making sure that it was really bouncing. and saw it go up very nicely to $7.52.

Now, I had some meetings to go to so I set a trail stop on this by 2 cents.

A few hours later, I am back at my desk and the stock is sold for $7.79

I loved the way I did this trade because:

I did not just buy on the dip, I actually did some TA on the trade so I was prepared
I did not immediately sell it when it bounced back so that I would have made a measly 2-3 dollars and my broker would have made $10 in commissions
And, I did not sell @ market but I placed a Trailing stop by 2 cents which basically made me an extra 20 dollars as i would have otherwise sold @ 7.52
and maybe, all this happened because I did not meddle with the trade but was out in a meeting…. thinking about this one hard.

So here it is:

I made a good $45 on this one and felt nice for a day trade.

A few options that came to my mind was on selling covered calls on this in the front month to collect premiums, but I had bought this on margin so better to just close the trade and pocket the 45 dollars.

Ok, I am still putting this one on my radar and if there is any overall weakness in the equities and this one sells off, I will be a buyer into the weakness.

Trade Alert: Buying some American Capital Ltd

qmar — Sat, 05 Dec 2009 20:53:14 +0000

I am starting a small stake in American Capital Ltd. $ACAS

Trade Alert: Buying some Quicksilver Inc

qmar — Sat, 05 Dec 2009 20:48:27 +0000

On 1st Dec 2009 I am buying some Quicksilver Inc in my portfolio

This is an extremely small position and I have less than $200 at stake.

Trade Alert: New covered calls in Dryships

qmar — Sat, 05 Dec 2009 20:45:17 +0000

So, this is the day before thanksgiving and the market is open for only half a day. Dubai news has rocked the overseas markets and the futures are pointing to a very very weak open.

Here I am sitting and watching the pre market movers and Dryships pops up as the biggest loser. Its time to buy Dryships !

On 11th Nov 2009, I am starting a covered call in Dryships. So I buy 100 DRYS on the open and I manage to pick it up at $6.08, I watched it tank and bounce off $6 and i had to wait for a confirmation on this bounce before I bought. So my order was placed when I saw a bouce back to $6.08 and rising.

Then I wait till it goes to $6.3 and sell a $7 front month call for 23 cents.

This gives me an upside of $100 if called out and takes my basis to $5.98 slightly below the support @ $6.

AND MOST IMPORTANTLY: This takes my net realized PNL into positive!

MY NET PNL IS POSITIVE for the year what a feat considering in August I was down by $2500. Check my performance chart.

Now All I have to do it keep going and make more and more positive returns and protect my downside!

Trade Alert: Selling covered calls on LVS and BPO

qmar — Sat, 05 Dec 2009 20:35:31 +0000

So, right after the November 2009 Opex, I am selling covered calls in LVS and BPO

Totally exploiting the volatility in Las Vegas Sands by selling the covered calls, just look at the juicy premiums!

OPEX: November 2009 Options Expiration

qmar — Sat, 05 Dec 2009 20:29:28 +0000

Yet another nice options expiration this November with both my sold calls on Brookfield Properties corp and Las Vegas Sands expiring worthless.

So nothing fancy, just a quick and easy opex report this time with nothing getting called out.

I keep $242 in premiums and turn around on Monday and sell more options on BPO and LVS.

Trade Alert: Adding to RHI Entertainment

qmar — Sat, 05 Dec 2009 20:11:30 +0000

On 10th Nov 2009, RHIE reported 3rd Qtr results and the stock tanked 60%…

Now what:? I am adding rather doubling down my position at $1.2

Trade Alert: Selling 250 Jamba juice

qmar — Sat, 05 Dec 2009 20:05:08 +0000

On 12th Nov, I am selling the 250 shares of Jamba juice for a nice profit

This trades gives me a profit of about $78.5

Trade Alert: Closing General growth Properties position

qmar — Sat, 05 Dec 2009 20:01:37 +0000

I am rethinking about my earlier descision on why I chose to play a company in bankruptcy. So I am selling out and making a small profit.

This almost qualifies as a stupid trade but I will let this one slide.

So on 9th Nov, I am selling the GGWPQ shares I bot just 3 days back… for a profit of $7.98 after commissions and fees… really… what a trade…