Friday, September 14, 2007

trading, friday sept 14

Bought FXI oct 146 put for $4.60  as a play on
China raising its rate 0.27 %.The FXI index has
had a strong run of about $30 since mid Aug and may 
be due for a pull back soon...The SYNA oct 45 call
was stopped out this morning for a 29% loss.This is
why I don't like using hard stops as the stock gapped
down on market opening but has now run up higher...

Thursday, September 13, 2007

trading, thursday sept 13

Opened two new long positions. Took First Solar FSLR oct 110 calls
@ 5.70 as a play on high oil prices. Added to DIA oct 132 put position
with a put @ 2.50 bringing the basis to 3.38.

Also took Synaptics SYNA oct 45 calls @ 2.25.Synaptics Inc., makes
touch pads and other products for electronic devices. Bear Stearns
analyst Andrew J. Neff, who has a $60 target price on Synaptics
stock, said it appears that Apple Inc. is using Synaptics technology
in its new iPod nano and iPod classic models,an affirmation of the
company's technology. The company is also making progress in the
mobile phone market, he said.


Wednesday, September 12, 2007

trading, wed sept 12

Sold IBB oct 85 calls for 0.90, basis 0.50 for 80% gain. Also added to the USO jan 58 put position (paid 3.00) with oil hitting
a new high of $80 per barrel today.

REUTERS: FOREX-Dollar sinks to 15-year low ahead of Fed decision Thu Sep 13, 2007 9:42am ET

By Vivianne Rodrigues

NEW YORK, Sept 13 (Reuters) - The dollar dropped to a 15-year low against a basket of currencies for the fifth day on Thursday as investors braced for a deluge of data on Friday and an expected Federal Reserve interest rate cut next week.

The greenback also fell to record lows versus the euro and a three-decade trough against the Canadian currency, although it recovered some of those losses after almost a week of declines.
A falling dollar "has been the strong trend for the past few days, ever since we got the payrolls number. The market is now pricing in the fact that what we are seeing in financial markets ... is probably going to be a lot more negative for the U.S. economy than economies elsewhere," said Adarsh Sinha, currency strategist at Barclays Capital.

"We think that further (dollar) weakness is likely ahead."

Monday, September 10, 2007

trading, monday sept 10, high oil & USO

With oil up about 2% today the USO jan 58
puts are looking good at 3.50 which is  what
I bought in at to start a position.

trading, monday sept 10, sold XOM

Bought IBB oct 85 call for 0.50.Have an order to double down on the AAPL oct 140 position with a limit order for 5.00.

The DIA puts are doing a great job of hedging the portfolio as it is
now showing a net loss of only 0.3 %

XOM puts are up 60% ,  need to think about taking profit...

Sold XOM oct 85 puts for 3.40 for gain of 70% with thanks
to Phil Davis of who wrote on thursday Sept 6/07  :

"Oil prices are at their month’s high at $76.40 ahead of inventories today and ZMan and I will adress the nation at about 10:25 on Market News First with our live energy report so tune in for that nonsense. Projections are for a smaller drawdown (about 1M barrels net) than last week’s massive draw but this will give us our first real indication of how summer driving season is winding down. As I mentioned earlier in the week, this is the last harruh for demand before the big fall drop-off so they’d better get a good one.

Last week in our newscast, ZMan and I made call plays on the XOM $85 calls, the VLO $70 calls (and ‘09 $75 leaps), the TSO $50s and the XLE $70s, all of which doubled by Friday and on Tuesday I was back on MN1 calling a top and looking for a reversal of that position to the put side so we’ll see if we can have our cake and eat it too. Right now, our biggest member position is the XOM Oct $85 puts at $2.31, a position we rolled to after an unsatisfactory few days holding the Sept $85 puts."

Sunday, September 9, 2007

trading, thoughts for monday sept 10

One ETF that has been strong compared to the market is the biotech index fund IBB.Thinking about adding IBB with a oct 80 put, oct 85 call strangle which would gain more to the downside....

Saturday, September 8, 2007

trading, friday sept 7

After the Non Farmroll employment figures came in showing a substantial decline I doubled down on the DIA oct 132 puts. Was pleased to see how well they worked as hedge against the AAPL 140 call position which was taking a beating as the market fell.Thinking about doulbling down on the AAPL position as well to bring the basis lower yet....

Chick Stuffie at the fair

We visted the Cowichan Fall Fair today on southern Vancouver Island and this is one of the photo's we took.The fall fair has been running since 1867 and is one of the oldest in Canada. It is well known for the vintage farm equipment that is often shown in operation.

Nubian Goat Couple

McCormick-Deering Tractor (link for PDF Catalogue)

Note hand crank in front of the engine....the title link is to an original McCormick catalogue.

Cowichan Fall Fair Horse team on Sept 8

Thursday, September 6, 2007

morning trades

Used the pullback in Apple to double down on my AAPL oct 140 call position reducing the basis from 9.50 to 8.25. As a downside play on the high oil price bought XOM oct 85 puts for 2.00.