Panic buying

I've being carrying about 80% cash the last few days and this morning was just the perfect opportunity to load up so I was a panic buyer this morning at the gap down...I've loaded up on FAS among others.

Current Positions

Summer is over and the 4th quarter is upon us. It's time to make sure that I don't give up any gains I have made and to accelerate my activity to add more to my bottom line before the year ends.

My money is distributed 30% on each of the position with the remaining 10% for intra-day/short term activities. FAS and OIH are both Option CALL contracts positions that I have built over time (2/3 months) and STEC is 2 times leveraged using margin.

Trade Well.

Vacation time is here

Amanpulo in Palawan, Philippines

OIL at major inflection point

I opened up a new LONG position trade by buying AUG 95 call options for OIH yesterday at an average price of $3.80. The trade is based on the idea that DUG (inverse ETF) is to resume downtrend from here after touching a major resistance line (see 2 year char) and reversal pivot point at 38% retracement area.

Stop point is if OIH breaches bellow $85 area and next buy point is if OIH move above $100.

Panic buying

Is what I did during that extreme weakness. I picked up some financials, coal, etc.

Sold 1/2

of my positions. This is where I start raising my cash position and letting go of my heavy leverage.

My current holdings

V from $57
AMZN stocks+options from $70,
GOOG 400 June 2009 options when it was still at $365,
RIMM from average price of $65,
APPL from average price of $107,
FAS from average price of $6.75,
JPM from $30,
C from average price of $2.80
EOG from $65,
DVN from $52,
FSLR from $183

My home network

was attacked by a vicious computer virus that wiped out some of my hard drives. I wish death and ultimate destruction to those people who created these viruses.

I have been cleaning and reimaging my computers for the last 3 weeks.

Aside from that, like is peachy for me. Spring is here, nice sunlight outside, warm temperature and marking is giving me much blessings.

My top holdings

500K shares of C, 25K shares of AAPL, 100K shares of FAS, 10K shares of V, 20K shares of AMZN+ some options, 150 Call options contracts of GOOG

Trades yesterday

Bought 200000 C @ $2.50+, 5000 AAPL @ $105+ to add to my existing positions .

I also purchased:

RIG May 60 calls
GOOG June 400 calls

Trade: Bought 100000 C @ 2.50

This is a positional trade.

Trade: Bought 50000 C @ $2.63

Trade: Bought 50000 C at $2.75 pre-market

Trades: FAZ and BGZ stopped at breakeven

Trade: Bought 2000 AAPL @ $104.70

Trade: Bought 3000 AAPL @ $104.53

Trades:

Picked up 10000 FAZ at $21 earlier and 3000 BGZ @ $62

Trade:

Sold 2/3 of all my holdings across the board. No need to get greedy.

Update

Out of deference to my friends in the blogging world who are getting into stock alert service and automated scanning packages, I will not post my trades and stock picks for the next few weeks. I will from time to time discuss some possible market opportunities.

Trade well.

Trade: Long 3000 HES @ $61.58

Trade: 50K shares C @ $2.45

Trades: Long 5000 FAS @ $4.99, 50 AMZN July 80 calls

Trade: Bought 5000 NOV @ $30.70, 10000 FAS @ $5.30

Trade: Sold remaining FAZ @ $33.50, SKF @126.30

Trade: Sold 2000 SKF , 4000 FAZ

Trade: Bought 15K shares of FAS @ $5.56

Trade: Bought 5000 NOV @ $30.50

Trade: Sold 6000 FAZ @ $33.18

sold 1/2 of position

Trades: Sold 3,000 shares SKF @ $124.82

Sold 1/2 of the position

Trade: Bought 50 more AMZN JULY $80

Trades: Bougth SKF @ $110, FAZ @ $28

Trades:

Sold 3/4 of all my holdings.

Just stopped by to say that my positions are melting up

What the f***

Well, my inverse ETF positions did not last more that 1 hour yesterday from my latest buy and both BGZ and FAZ got stopped out 2 points below my last buy point.

I flipped my positions and bought FAS and BGU and AMZN, AAPL, GS, BRCM and IBM calls. I'm also looking at some oil well services HES, NOV, agri related like MOS CF JOYG. And don't forget CHINA.