Monday, November 27, 2006

Results from the Turkey Feast

Well, today was basically your "hit the panic sell button" type of day. I dumped all of my call positions within the opening half hour of market open.

My approach for playing the Thanksgiving holiday weekend was to cast a wide net and play many of the hot momo stocks. I won with the NDAQ, RIMM and NYX calls, but lost with the AKAM, GOOG, and FMCN calls. There was a selloff this past Friday, but it was such light volume that I wasn't sure whether that was a legitimate warning signal. However, today was a clear warning signal. Here's two of the trades that were mildly interesting:
With AKAM, I was anticipating a breakout that never occurred. And yes, I know that breaks rule #4 of my Trading Rules. **** sigh *****
The other one was FMCN, where I screwed up my purchase of the calls:

There isn't too much else interesting to comment on in the charts since they all sold off in a similar fashion this morning, so I won't bother posting the remaining charts of the call trades that I made. If you are interested in the gory details, I have updated my Trading performance link which contains these particular options trades that I made.


Simply Options Trader said...

Hi Phileo,
I think you are doing very well! I saw your Nov trading performance and its right on track. Your winners were big and you kept your losses small. Way to go!

Phileo said...

Hi SimplyOptions,

Thanks for the encouragement! Now the trick is to repeat this kind of performance for the next month, and the next month, and the month after that.......