Wednesday, October 12, 2011

Hi everyone,

Wow....another crazy azz day of trading.  DJIA opened up over +100 points which was surprising because I thought it would be a down day.  Hit a high of 11,625 and a low of 11, 417.  It closed at 11,518 up +102, but cut it's gains in half.

NFLX was the stock to play.......from 107 to 116 and closed around 114.  Lots of plays in there.

Ok....now for the trades:

AA premkt s/s 9.95/9.85 x 5000 = +500
AA s/s 9.95/9.90 x 5000 = +250 <---- of course fell to 9.73 after I sold
BIDU 132.73/133.94 x 500 = +605
BIDU 132.34/132.14 x 500 = -100
NFLX w 120 call 10 1.16/1.54 = +380
AA s/s 9.99/10.20 x 5000 = -1,050 <---- huge mistake, no stop, thought it was not going higher!

The following are small 5000 share trades of AA to try to recover, also, market is shifting:

10.23/10.20 +150
10/22/10.20 +100
10.14/10.08 +300
10.08/10.03 +250
10.06/10.09 -150
10.06/10.05 -50
Recovered: +600

A/H AKAM s/s 27.05/26.45 x 500 = +300

Total: +1,485

Monday = -350
Tuesday = +2,750

So, the lesson learned today....again...is use stops!  Geez, how many times do I have to tell myself that!  That was a painful hit.  And, even though I didn't use a stop....why didn't I just sell at a .02 or .03 cent loss?  Who knows.   I have to do better.

I am also in the following options for tomorrow:

NFLX w 105 puts .81
SPY w 118 puts .22
BIDU w 120 put .52

Well, see how that goes.......betting against the trend, not good, but we shall see.

Have a good night everyone.

sdh