Monday, August 24, 2009

Day 11, $20,096

Stock market started higher and as the day continue lost its bullish momentum to finish close to where it started. I have started to get into more positions. I will be placing some limit orders for a NTES bull put and an IBM iron condor. My first NTES trade was made with very little time value left. The new trades will have almost a full month, so I will be bringing in more credit. If the trades get filled tomorrow I will go into more specifics. Economic data for tomorrow: Consumer Confidence report

Dow - 9,509
Nasdaq - 2,018
SP500 - 1,026

NYX - 27.68 (-0.25) - This has still not been very valuable position. I have been meaning to short a call, but I haven't really seen an options chain that I liked. I will continue looking for ways to jump start this position into profits.

DRYS - 5.94 (-0.08) - Still no changes. My expectation as this stock will be above 7.50 by Jan 2010

NTES - 42.28 (-0.22) - Looking to get into a bull put. Closed bear call for a profit last month. What was resistance I am now expecting to act as support.

IBM - 119.32 (-0.62) - This stock has been trading in a range for quite awhile. Will look to take advantage of this with an iron condor.

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