A Tycoon's Trading Diary

True story of the making of a tycoon. Options trading, trading systems, wealth, money management...

Friday, January 26, 2007

Black or Grey Friday?

It probably won't be but that's how a prospective trading tycoon feels about it now. Probably, it's Ms. Greed singing in my ears :)

New additions to my watch list today
None were added through the eIBD Timesaver list. Thus, I was looking for split opportunities to make a separate watchlist. Amphenol (APH) was announcing stock splits on 24-Jan. I have made a separate watchlist for both APH and SSI albeit the later did not seem to be a sweety. More about this later...

A few possible trades... should the market let it...

...includes:
  • ALB - still the best with its gap up, MACD cross on volume + Buy Point cleared on 24-Jan,
  • CTRP - also nice a clear trend but there was no correction in past 3 months, when they will take profits in these shaky times?
  • MSTR -30 day SMA down sloping down, gap up is nice though,
  • JEC - 30 day SMA is still going down despite gap up, they took some profit.
AMG, and FMD are still popping up in Watch List Scans. But Affiliated Manager's (AMG) extreme price swing (Range was between $221 and $110 during last day trading!) did not make it a nice bride for me. First Marblehead (FMD) is still under IBD buy-point and its 30 days SMA.

Open positions
Both VIP and DECK showed some profit taking on lower volume, which keeps me still confident in both trades (albeit VIP should not have been bought see in my last post).
DECK MAR 60 Call started @ 2.45 (-$230) that extended further down to 1.8 - 1.9. Volume was higher but it seemed to stop just around my limit stop.
VIP APR 90 Call started @ 3.9 (-$160) came down to 3.6ish but on lighter volume.