So I’ve been thinking about what I want to do going forward with this site, and I really don’t think I want to be trying to document everything I’m doing. First off, I can’t do it in real time, because I trade at weird times and places and often I don’t have the ability to take the time to fire off a post about what I’m doing. Second, I’d rather teach someone how to fish than have to always be giving away fishes. 3rd, I do a lot of trading around my positions. I’ve bought or sold shares of DKNG at least a dozen times in the last two weeks, for instance. It’s been my largest position throughout that entire time, but the exact size varies. I try to sell high and buy lower, and buy low and sell higher, even within my positions. And 4th, I have no desire to be seen as any sort of guru. I just love the market, love stocks and love finding opportunities.
But I am always willing to be forthcoming with what I’m doing and what I’m holding, and a handful of people have asked me to do so. So I will do my best to update my holdings at least once a week, and if anyone is interested in what I’m doing on a day-to-day basis, just ask me.
So going forward, I am going to try to focus on new positions I’m looking for, market outlook, general trading wisdom, and I’ll probably post the P+L charts of all my options plays, because I think more people should learn the power (and the pitfalls) of options trading.
Back to the portfolio. Overall this week, I gave back about $330. I’m out of nearly all of my tech, except some AAPL and TTGT shares and the options positions we have in some tech companies. One of the pitfalls of options positions is that when everything is going down they can be very difficult to sell for anything close to a fair value. We take that into account when we put them on, but that is why we don’t want too high of a % of our portfolio to be in options at any one time. Going into Monday, these are my stock positions.
Bullish options positions include:
I’ve also got a little more AAPL, and some MSFT and AMD in my little IRA. Those are on a short leash going into tomorrow. The QQQ and IWM index ETFs both broke their 50-day moving average Friday. It wasn’t a harsh break, so it didn’t necessitate a sell for me, but tomorrow needs to stop the downtrend. The SPY is holding up slightly better, and those are the type of stocks I expect to work best in the near future. As always, we’ll let the market tell us what it’s doing and do our best to listen to it.
Futures are up pretty large tonight. Let’s see if they can stay that way. Tomorrow night I’ll try to break down the current outlook for the indices in more detail. Until then, happy trading.