A Tycoon's Trading Diary

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

Tuesday, July 31, 2007

Fighters Tuesday

Trade candidates for the day
GAPHV: DECK - nice pattern, JC short term ok, volume surges, Target: $114,92. SLB - nice pattern a bit longer though, JC short term upward even through a shooting start, Target: $100.45.

Trade session notes
Market: bullish trend under pressure, markets in Correction until follow through is here! FTSE...6319.60...+113.50...+1.8%. DAX...7580.42...+124.11...+1.7%
Hang Seng...23184.94...+445.04...+2.0%. Nikkei...17248.89...-40.41...-0.2%.
Volatily was standing at yesterday close as:
CBOE VIX 20.87-3.30

9:56:41 AM MO: bullish
CBOE VIX 19.97-0.90
Market Adv Decl Unch
Nasdaq 4,009 1,076 159
NYSE 2,372 540 89

10:50:54 AM MS: bullish but sliding a bit
CBOE VIX 20.85-0.02
Market Adv Decl Unch
Nasdaq 3,336 2,133 199
NYSE 2,019 965 97

11:25:48 AM MS: mixed (bulls fightin' bears)
CBOE VIX 21.070.20
Market Adv Decl Unch
Nasdaq 3,443 2,174 235
NYSE 2,094 946 77

11:57:40 AM
CBOE VIX 20.72-0.15
Market Adv Decl Unch
Nasdaq 3,857 1,875 216
NYSE 2,277 776 85


Open Trades as of EOD 30 July
Live
SymbolDescriptionStockQTYCost BasisTotal c/bPriceMarket ValueGain/Loss
PCRJPPCR OCT 80 Call61.371$5.20$520.00$2.00$200.00($320.00)
T 150$+ Xit 1. WR dips under -20 on volume 2. dip 71.05 on vol. 3. T Xit 7 Aug
RIOHR %RIO AUG 57.5 Call48.551$0.45$45.00$0.10$10.00($35.00)
Put on a 0.05 points down last trailing stop (GTC).
Virtual
Symbol Description Stock Qty Cost Basis Total C/B Price Market Value Gain / Loss
.TEXJS TEX OCT 95 Call $89.28 1 $6.60 $660.00 $5 $500.00 ($160.00)
Target: $94,85, next earnings 7/25/2007
.WFTAL WFT JAN 2008 60 Call $55.48 1 $5.90 $590.00 $4.1 $410.00 ($180.00)
T: $63,67, Xit if price dips on volume or JC


posted by SugarDayFox @ 7/31/2007 07:36:00 PM 

Monday, July 30, 2007

Tricky Monday

Trade candidates for the day
Note: no new Bullish Call buying until market follows through!!
PCR: wait until August 7 Earnings report. JC: Last bar seemed like an inverted hammer! Testing support of 50 day SMA!
RIO: sell if it falls below 46,68 on volume or 30 July time close!
TEX: JC: inverted hammer. Testing support of 50 day SMA!
WFT: Testing support of 50 day SMA!

Trade session notes
Note: Market in correction!
FTSE...6223.40...+8.20...+0.1%.
DAX...7454.10...+2.42...+0.0%.
Nikkei...17289.30...+5.49...+0.0%.
Hang Seng...22739.90...+169.49...+0.8%.
VIX closing last Friday
CBOE VIX 24.17+3.43

10:09:09 AM Market open: mixed (VIX down, Nasdaq Decliner leading, NYSE A/D even)
CBOE VIX 22.79-1.38
Market Adv Decl Unch
Nasdaq 2,392 2,786 188
NYSE 1,454 1,389 111

11:52:31 AM MS: mixed to bearish
CBOE VIX 22.82-1.35
Market Adv Decl Unch
Nasdaq 2,399 3,317 188
NYSE 1,365 1,659 102
Put on a 0.05 points down from .2 last trailing stop for the RIO position as planned (due to time exit set at the time of trading).

12:26:03 PM MS: slightly bearish
CBOE VIX 23.02-1.15
Market Adv Decl Unch
Nasdaq 2,264 3,536 216
NYSE 1,273 1,772 102

1:07:54 PM MS: improving to bullish
CBOE VIX 22.21-1.96
Market Adv Decl Unch
Nasdaq 3,084 2,835 196
NYSE 1,643 1,425 94

posted by SugarDayFox @ 7/30/2007 08:10:00 PM 

Sunday, July 29, 2007

Learning points from the first ever correction since I trade live

General notes on my trading activity this week
As anybody - reading my blog - would have spotted it my positions are loosers (save WFT) by my own rules. Thus they should have been closed out. Especially, PCR.
As I have mentioned already, but there is not enough of self remembering, there were a few (partly costly) learning points I got under my belly this week:
  1. Money management really counts: See if I would have made two trades then PCR would have been only one of them and I would be at -$200 with that position. Maybe the other one would have been a looser as well but chances are against this.
  2. Exiting is tricky with options when you are not with the market along the day: I clearly remember the feelings that tumbled inside when PCR started its chute. Until it has reached my looser exit (position value at -50%) point I was cool. But then simply it made the dive when I was not following the market. Also, I am not sure but probably a bid down trailing stop would have done it set for -$100.
Open Trades as of EOD 27 July
Live
Symbol Description Stock Qty Cost Basis Total C/B Price Market Value
.PCRJP PCR OCT 80 Call 56.64 1 $5.20 $520.00 $1.20 $120.00 ($400.00)
.RIOHR RIO AUG 57.5 Call 47.14 1 $0.45 $45.00 $0.10 $10.00 ($35.00)




Virtual



Symbol Description Stock Qty Cost Basis Total C/B Price Market Value Gain / Loss
.TEXJS TEX OCT 95 Call $83.15 1 $6.60 $660.00 3 $300.00 ($360.00)
.WFTAL WFT JAN 2008 60 Call $55.27 1 $5.90 $590.00 4.1 $410.00 ($180.00)

Labels: ,

posted by SugarDayFox @ 7/29/2007 09:26:00 AM 

Tuesday, July 24, 2007

Darky Tuesday

Trade Candidates for the Day
Open ones: PCR: if falls on high volume, see second hammer in past three bar, target $150; TEX: mind the 25 July earnings report; RIO: Target: $50 gain, 5 bars to TXit, WFT:
Candidates: BHP: only if market is super fine; CENX: possible shooting star just formed but no volume; ISRG: possibly some profit taking to come first; SCHN: low fly doji below in sideways trading; TEF: gapped down on quite strong volume,

Trade Session Notes
Nikkei...18002.03...+38.39...+0.2%.
Hang Seng...23472.88...+107.32...+0.5%.
DAX...7905.03...-39.18...-0.5%.
FTSE...6585.60...-38.80...-0.6%.

10:15:10 AM MO: very bearish
CBOE VIX 18.061.25
Market Adv Decl Unch
Nasdaq 914 4,243 181
NYSE 411 2,397 99

10:57:12 AM MS: bearish
CBOE VIX 17.550.74
Market Adv Decl Unch
Nasdaq 1,199 4,285 206
NYSE 584 2,293 105

11:21:03 AM MS: bearish
CBOE VIX 17.620.81
Market Adv Decl Unch
Nasdaq 1,249 4,348 219
NYSE 596 2,324 87

12:58:59 PM MS: bearish
CBOE VIX 17.570.76
Market Adv Decl Unch
Nasdaq 1,321 4,550 228
NYSE 556 2,452 75


Open Trades as of EOD 23 July
Live
SymbolDescriptionStockQTYCost BasisTotal c/bPriceMarket ValueGain/Loss
PCRJPPCR OCT 80 Call$73.891$5.20$520.00$4.90$490.00-30.00
T: 150$+ Xit 1. WR dips under -20 on volume 2. dip 71.05 on vol. 3. T Xit 7 Aug
RIOHRRIO AUG 57.5 Call$53,1
1$0.45$45.00$0.65$65.0020.00
T: $57.94 or $100 or time exit at 30 July
Virtual
.TEXJS TEX OCT 95 Call $90.79 1 $6.60 $660.00 5.8 $580.00 ($80.00)
T: $94,85, next earnings 7/25/2007
.WFTAL WFT JAN 2008 60 Call $59.07 1 $5.90 $590.00 5.6 $560.00 ($30.00)
T: $63,67, exit if price dips on volume or JC

posted by SugarDayFox @ 7/24/2007 08:10:00 PM 

Monday, July 23, 2007

Better than expected Monday

Trade Candidates for the Day
Open ones: PCR: if falls on high volume, see second hammer in past three bar; TEX: mind the 25 July earnings report; RIO: no great risk ($50 altogether), exit of doubled (+$50).
Candidates: BHP: only if market is super fine; CENX: possible shooting star just formed but no volume; ISRG: possibly some profit taking to come first; SCHN: doji below in sideways trading; TEF: gapped down on quite strong volume. TTC-A/WFT: earnings today

Trade Session Notes
Nikkei...17963.64...-194.29...-1.1%.
Hang Seng...23365.56...+73.66...+0.3%.
FTSE...6606.10...+20.90...+0.3%.
DAX...7863.02...-11.83...-0.2%
VIX Close on 20 July
CBOE VIX 16.951.72

9:56:06 AM MO: Slightly Bullish
CBOE VIX 16.79-0.16
Market Adv Decl Unch
Nasdaq 3,058 1,690 210
NYSE 1,780 934 135

10:23:09 AM MS: offensive
CBOE VIX 16.88-0.07
Market Adv Decl Unch
Nasdaq 2,787 2,325 233
NYSE 1,617 1,199 123

10:59:34 AM MS: bullish
CBOE VIX 16.59-0.36
Market Adv Decl Unch
Nasdaq 3,208 2,139 228
NYSE 1,759 1,125 119

11:00:58 AM Made a trade for WFT JAN 2008 60 Call at market (filled at $5.9).

11:25:28 AM MS: slightly bullish
CBOE VIX 16.57-0.38
Market Adv Decl Unch
Nasdaq 3,281 2,220 223
NYSE 1,744 1,168 115

11:52:06 AM MS: slightly bullish
CBOE VIX 16.6-0.35
Market Adv Decl Unch
Nasdaq 3,294 2,302 233
NYSE 1,726 1,201 120

12:54:36 PM MS: bullish
CBOE VIX 16.5-0.45
Market Adv Decl Unch
Nasdaq 3,477 2,262 228
NYSE 1,803 1,164 108


Open Trades as of EOD 20 July
Live
SymbolDescriptionStockQTYCost BasisTotal c/bPriceMarket ValueGain/Loss
PCRJPPCR OCT 80 Call71.881$5.20$520.00$4.20$420.00-100.00
Notes Target 200$ Gain Exit if 1. WR dips under -20 on volume or goes under 7105 on vol
RIOHRRIO AUG 57.5 Call50.971$0.45$45.00$0.36$36.00-9.00
Notes Target $5794 or $100 or time exit at 30 July
Virtual
TEXJS TEX OCT 95 Call $90.96 1 $6.60 $660.00 6.2 $620.00 ($40.00)
Notes Target: $94,85, next earnings 7/25/2007

posted by SugarDayFox @ 7/23/2007 09:27:00 AM 

Friday, July 20, 2007

Dark Grey Friday, 20 July 2007

General notes

Rules set:
  • maximum risk (50% profit target or $100) but never more than 25% of whole account (until $5000 account value reached)
  • use only Day's GAPHV trade set - that is GAP high on volume (more than 25% average) on bar -1 then pullback on light volume (- 25%) on the next day, when it turns backward go long exit with target/risk method set above or when 50% target is reached & W%R closes under -20 sell at next bar if there is no reversal.
Filtered Trade Candidates for the Day
RIO: day 6 of GAPHV event, 'spinning top' formed, prices will most probably go towards the opening direction; TEF: day 3 of GAPHV event, 'spinning top' formed, as for RIO above.

Trade Session Notes
Nikkei...18157.93...+41.36...+0.2%.
Hang Seng...23291.90...+275.70...+1.2%.
FTSE...6646.30...+6.10...+0.1%.
DAX...7962.87...-28.34...-0.3%.

9:56:29 AM MS: Bearish
CBOE VIX 15.70.47
Market Adv Decl Unch
Nasdaq 1,190 3,559 183
NYSE 717 2,001 122

10:23:23 AM MS: Bearish
CBOE VIX 16.040.81
Market Adv Decl Unch
Nasdaq 1,224 3,899 204
NYSE 749 2,034 126

10:48:43 AM MS: More Bearish
CBOE VIX 16.531.30
Market Adv Decl Unch
Nasdaq 1,201 4,090 200
NYSE 663 2,156 135

11:36:35 AM MS: Bearish
CBOE VIX 16.721.49
Market Adv Decl Unch
Nasdaq 1,211 4,294 207
NYSE 667 2,247 112

11:50:38 AM MS: no change
CBOE VIX 16.981.75
Market Adv Decl Unch
Nasdaq 1,137 4,444 189
NYSE 613 2,306 124

12:21:10 PM MS: no change
CBOE VIX 17.352.12
Market Adv Decl Unch
Nasdaq 1,102 4,560 206
NYSE 568 2,378 124

12:51:39 PM MS: no change
CBOE VIX 17.332.10
Market Adv Decl Unch
Nasdaq 1,180 4,567 182
NYSE 592 2,388 107

1:51:34 PM MS: somewhat less bullish
CBOE VIX 16.951.72
Market Adv Decl Unch
Nasdaq 1,332 4,505 204
NYSE 677 2,328 98

1:56:07 PM Made a fully speculative order on an out of the money RIO Aug 57,5 Call. First, I have had some money on my account and I wanted to invest it. Also, I have never used these really out of the money options.

2:23:49 PM MS: bulls climbing
CBOE VIX 16.531.30
Market Adv Decl Unch
Nasdaq 1,553 4,330 204
NYSE 788 2,217 109

2:56:53 PM
CBOE VIX 16.651.42
Market Adv Decl Unch
Nasdaq 1,460 4,479 184
NYSE 720 2,308 89

Open Trades as of EOD 19 July
Live
SymbolDescriptionStockQTYCost BasisTotal c/bPriceMarket ValueGain/Loss
PCRJP %PCR OCT 80 Call72.931$5.20$520.00$4.70$470.00-50.00
Virtual
Symbol Description Stock Qty Cost Basis Total C/B Price Market Value Gain / Loss
.UPUGR CTSH JUL 90 Call $87.52 1 $5.60 $560.00 $0 $0.00 ($560.00)
Notes Break even at $4.55. Expiry at 20 July, Friday. Next Earnings 8/1/2007
.TEXJS TEX OCT 95 Call $94.10 1 $6.60 $660.00 $7.9 $790.00 $130.00
Notes Target: $94,85, next earnings 7/25/2007

Labels:

posted by SugarDayFox @ 7/20/2007 02:35:00 PM 

Thursday, July 19, 2007

Got to sort my trading template rules for GAPHV

Filtered Trade Candidates for the Day
PCR: gapped up 5 bars ago, last bar retraced on light volume, earnings Aug 7, target: $71,58 PASSED; TEX: gapped up 3 and 8 bars ago on high volume, last three bars were down, W%R just dip under -20, earnings Jul 25, target: $94,85 ; BHP: already traded before, GAPHV 5 bars ago, last 4 bars average volume retracement - gap down high close, W%R dive under -20 (-30), earnings Aug 22, target: $68,87; PCAR: waiting for a retracement, earnings Jul 24, target: $99,05
Trade Session Notes
Nikkei...18116.57...+100.99...+0.6%.
Hang Seng...23016.20...+174.28...+0.8%.
FTSE...6611.60...+44.50...+0.7%.
DAX...7964.62...+71.01...+0.9%.
9:26:39 AM ET
CBOE VIX 16.0.37

9:49:22 AM MO: bullish!
CBOE VIX 15.39-0.61

10:20:51 AM MS: Bullish
CBOE VIX 15.18-0.82
Market Adv Decl Unch
Nasdaq 3,551 1,500 207
NYSE 1,923 834 143

10:57:48 AM MS: bullish
CBOE VIX 15.33-0.67
Market Adv Decl Unch
Nasdaq 3,417 1,916 237
NYSE 1,801 1,024 148

11:24:08 AM MS: bullish
CBOE VIX 15.25-0.75
Market Adv Decl Unch
Nasdaq 3,533 1,953 214
NYSE 1,839 1,022 144

11:52:33 AM MS: bullish
CBOE VIX 15.29-0.71
Market Adv Decl Unch
Nasdaq 3,502 2,037 258
NYSE 1,799 1,100 139

12:22:00 PM MS: bullish
CBOE VIX 15.19-0.81
Market Adv Decl Unch
Nasdaq 3,559 2,063 248
NYSE 1,882 1,035 140

12:28:43 PM placed limit trade for 1 contract of PCR OCT 80 Call @ 5.2 limit.

12:55:46 PM MS: bullish
CBOE VIX 15.13-0.87
Market Adv Decl Unch
Nasdaq 3,672 2,017 252
NYSE 1,900 1,045 131

1:26:42 PM MS: bullish
CBOE VIX 15.21-0.79
Market Adv Decl Unch
Nasdaq 3,637 2,102 247
NYSE 1,881 1,081 131


Open Trades as of EOD 18 July
Virtual
Symbol Description Stock Qty Cost Basis Total C/B Price Market Value Gain / Loss
.UPUGR CTSH JUL 90 Call $84.99 1 $5.60 $560.00 $0 $0.00 ($560.00)
Notes Break even at $4.55. Expiry at 20 July, Friday. Next Earnings 8/1/2007
.TEXJS TEX OCT 95 Call $93.32 1 $6.60 $660.00 $7.4 $740.00 $80.00
Notes Target: $94,85, next earnings 7/25/2007


posted by SugarDayFox @ 7/19/2007 09:40:00 PM