Friday, August 03, 2007

not real-time LIVE trading journal for 8/03

It has been a while since my last post. I detached myself from active trading and switched to a more hands-off policy in the last few weeks and it has been very rewarding in my quality of life. I have decided that I will stop the LIVE trading room for now and will resume it again after summer. It would be unfair to those who follow it if I cannot post daily updates.

My last positions for the LIVE trading room were obviously stopped during the carnage a few weeks ago.

My time-off from active trading was a good timing as we went into intense decline. In my last few post, I have mention that there's a lot of weakness in the market leaders and that I was raising my cash position. When the 'shit hit the fan' as they say it, I'm mostly cash except for a few positions that were stopped at small loss or break-even.

I was not able to participate heavily in the downside because I chickened out in plunging on the short side plus it was very difficult to find a good size of available shares to borrow in most of the volatile stocks. I did buy some PUT OPTION contracts so I made some money during the carnage but not a lot.

As I have mentioned in wallstreak, I started to build position in some of the CASINO stocks like LVS and WYNN. I also picked up some AAPL, AMZN, LMT, BA, GRMN, AGN and RIMM.


gary said...

Casinos were my only pick during last week --nothing else seems intersting--made a trade in VSEA for just over $4 glad I got out just in time today as I thought $50 would be too much in this environment.

MC said...


Only casinos where showing strenght the last few days. Hope you made money trading the sector.

I'm still long VSEA.