Wednesday, February 4, 2009

Account Balance: $1346.29 (-5.5%)

Both of these transactions actually occurred yesterday but I didn't get a chance to post until today. However, price range today was nearly the same as yesterday. CENX closed at $4.01 today and GERN closed at $7.50 today.
2/3/09: Sold 150 GERN @ $7.60 ($1107.50), momentum died out too soon
Bought 300 CENX @ $4.01 (-$1212.99), oversold and due for a bounce

Friday, January 30, 2009

$1000 to $10000

Here's the goal: Turn $1000 into $10000 via trading. If I can pull this off, I'm not sure how long it will take but ultimately I'd like to reach the goal within one year. To do that I will need to earn approximately 5% each week. Unfortunately due to the small amount of starting capital, I won't be able to practice sound money management, i.e., diversification otherwise commission costs will eat into most of the profits. Until I build up my balance I will need to make 10% or better on most trades to cover commission costs.
1/22/09: BEGINNING BALANCE: $822.40
1/22/09: Bought 6 OOCNB (DRYS Feb 10 puts) @ $1.1 ea (-$674.49)
Note: DRYS is overbought and CEO is running company into the ground
1/22/09: Withdrawal of $180
1/29/09: Sold 6 OOCNB @ $2.4 ea
Note: DRYS in breach of loan covenants, stock down 30% on the day
1/29/09: ACCOUNT BALANCE: $1425.50
1/29/09: Bought 150 GERN @ $7.9 (-$1194.99)
Note: GERN is leader of stem cell sector which has momo right now, news special on prime time tomorrow evening,