Saturday night bought our second snowfall of the year. It has been a great summer and a very nice autumn. I have a number of projects to complete between now and the open of the ski season (41 days away). Prepaid Legal, trading, and shaping up for the ski season top my list of to do’s.
The Breckenridge International Snow Sculpture Competition in January
Well with all the talk of the quarter end, window dressing, etc. I decided to review my accts.
I trade 3 accts for myself, and have 1 acct traded for me using a variety of option selling strategies. I use this last acct as a baseline to beat.
June 1- Present (all profits are NET, and are calculated after commission)
Baseline Mini-Basket acct: Up 14%
Acct 1) up 20% (use of directional and mini/micro-calendar strategies)
Acct 2) up 17% (use of directional and mini/micro-calendar)
Acct 3) up 346% (use of mini and Micro-calendar strategies only)
I will never forgot the first time I saw Stanley Jordan play this live. Amazed.
My accts are not huge, but they are substantial. After becoming proficient at picking these micro calendars over the past 18 months, this summer I became confident and aggressive in buying these). At no point did I put more than 5% of my portfolio at risk in any one trade. There were 33 stocks which offered me micro calendars to trade in the past 3 months, I scratched on 2, lost on 1, and doubled or greater on the remaining 30. Very nice. The largest % gainer (ACF) was 30X (overnight), the second (CREE) was 15x over a month, and the third (UTHR) was 300% (same day, 4 different days). This style does rack up some pretty major commissions, but the after commission profits are still hefty. I would love to see more commission reduction.
Mini-calendars – 21 stocks traded 4 loses, 1 scratch, 16 winners. Max loss 40%, minimum winner 25%, maximum winner 350%.
Directional – 20 stocks traded 11 losses, 4 scratches, 5 winners. After commission my average gain was 5x my average loser. Money mgmt helped me lose only a small amount. Overall pretty pathetic
This is my favorite business philosopher, Jim Rohn
LCAV – exited last 35p calendar for .10. I bought these for even about 6 weeks back. It was a nice trade.
ACN – Sold 1 unit of Nov/Oct 40p calendar for .50 at open, then bought 2 more units at .40, then resold 1 unit @ .50. I currently have 3 units with an ave entry of .32.
UTHR – The gift took place again at open. 3 units of 70p calendar @ .10, then sold them 2 minutes later for .40. This has been a fabulous series of trades during the week. I have no position at this time.
At the end of the quarter, I am sitting on 71% cash.
Set your DVRs for this TV Documentary. Put this on the watchlist for saturday morning. It will probably be listed under a “Paid Programming” title. I will be receiving several DVD copies of this program. Email me with your shipping address if you would like a free copy.
These books are incredible. Anyone really wanting to achieve financial success and not realizing the deck is stacked against them needs to read this book, especially if you think owning your home free and clear is the goal. What is the return on your home’s equity?. This is REQUIRED reading.
Anyone over the age of 55 with assets in 401ks and IRAs, needs to read this book. AWESOME INFORMATION.
ALKS – 1 unit JAN/FEB 17.5p and 2 units Jan/Feb 15p
MEDX – 4 units Jan/Feb 15p
PDLI- 2 units Jan/Feb 20p
PGR – 3 units Jan/Feb 20p
PPCO- 2 units Jan/Dec 10p
USB – 6 units Jan/Feb 32.5 adn 1 unit Jan/Feb 35p
MER – 2 units of 1/2 Jan 75c/85c BackRatio Call spread
GS – 2 units of 2/3 Jan 200c/220c Backratio Call spread
ACN – 3 units Oct/Nov 40p
JBL – 1 unit Nov/Dec 22.5p
MU – 3 units of Jan 11c (earnings on tuesday after close)
RHT – 1 unit Oct/Nov 20p