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Churnfest 2008 here.

Lost back what I made in the indexes yesterday. 4% loss in the NDX, 4.6% in the RUT. Ugh. I shouldn’t have been as exposed as I was yesterday. Lesson learned.

Pretty much lost a little on a bunch of trades today.

Sold: IMB @ 8.09 for a loss of 3%, COIN @ 10.20 for a loss of 1.3%, YRCW @ 17.24 for a loss of 3%, AKNS @ 7.66 for a 1.5% loss, ABK @ 10.47 for a 10% gain (trade of the day)

The ones from the Midday Update; CSUN @ 9.06 for a 1% loss, EMKR @ 13.9 for a loss of 3.9%.

Bought: ABK @ 9.66

ABK chart:

DRYS – Looks like that is up to 90 bucks in the afterhours after their revs tripled. I knew I sold too early. I said I was going to hold on till the trend changes in DRYS, but I didn’t. A discipline lesson again. I can’t complain too much though because the stock is up over 70% since that first buy about a month ago. Options would have been nice on this one.

NOEC – Up ah on good earnings report. I don’t own it now, but its been a SR fav in the past and might be nice to watch tomorrow.

So the only positions I have are TITN which is up 6% right now, the YHOO March 32.5′s, and long the NDX/RUT.

This is what peaked my interest in the YHOO calls.

I’m buying the rumor on these options and other people seemed to be buying into them too. Hopefully, Microsoft ups their bid to 35, Yahoo accepts, and these options make quite a bundle. Its never that easy though.

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