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What Worked and Sucked Today 4282008

Worked:
Being long the indexes. The indexes yielded a little less than 1% gain today.
XLF - Back up. I sold a portion of the XLF calls to raise cash for a speculative call option trade in Glassworks - GLW.
GLW - Bought June 25’s. ITM @ 1.8 I just got a new tv so business must be [...]



MSFT - Options looked great had 35% in the bag. Decided to hang on. MISTAKE.
QQQQ - Call options were rocking. At least I trimmed some of the gains, but I plan on holding on through next week maybe up into expiration. I see new highs a coming.
Being long the indexes worked. My index trading account [...]

Midday Update

Bought:
MSFT calls this morning @ .95 they are up about 30% on the day. Deciding to hold them.
WFR Jun 90’s @ 1.35 they report tonight.

QQQQ calls from yesterday hit the 50% gain mark with todays rally/breakout in the compx. I sold about 30% of that position to raise cash for WFR trade.
Indexes look great.

Sucked:
Not being on board for this:

Essentially my 3-4% loss in AKNS caused me to lose the trade above or something similar.
Worked:
Being long heavy in the NDX and RUT. 3.4% and 3.7% respectively. Out @ 76.88 was in @ 71.44.
GOOG - Took 17% gain on the overnight trade.
JOYG breakout. I sold the breakout to raise cash [...]

Midday Update

Sold:
AKNS @ 7.51 which was a great move considering its down to 7.15 now. Took about a 4% loss on this forced trade. I knew it was bad the moment I bought it.
CPST @ 2.93 for a gain of 10%ish. I don’t like that CPST can’t make head way today on a move like this.
Day [...]

  
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