Well being the long the NDX and SPX didn’t work, but it was a rather good trading for me aside from that. However, the SPX took a 1% loss and the NDX gained a few pennies. In case you missed it, the market popped big after the Fed cut, but sold off after the bond insurers ratings were downgraded. They are so late to the party with these downgrades its so ridiculous. The Fed is now offering the market some tailwinds. Time to fly.

EMKR - Up over 3% even with the market drop and holding overnight.

JADE - Down nearly 3% and I was supposed to sell before the close, but got tied up, so I have this overnight.

DRYS - The portion I sold was for 19% gain, the rest is up about 21% right now.

JRJC - Should have been sold, but again I was tied up with something. I have that overnight and its now showing a 3% loss. There was opportunity to sell this one intraday for a pretty good gain near 6%. I have some stuff that was giving me ideas to hang on longer so I wasn’t ancy to dump it, but at this point I wish I did.

DAR - Popped 5%

AAPL Feb 135’s got sold @ 4.6 - Thats a gain of more than 10%. Could’ve gotten more as AAPL did hit 135 during the market spike. The calls reached a high of 5.5, but alas Ameritrade was showing delayed quotes on the options as AAPL went higher than 135 and I guess I was just waiting then got distracted. If I saw a $5 number hit on these calls I would’ve definitely sold there. The 4.6 sale was after I saw AAPL coming down off that 135.45 high. Ameritrade has been having problems lately with all the excess volatility. Everyone online seems to be talking about not being able to make trades and not having access to the site. Really frustrating. So instead of a gain of more than 30%, I got 10%. Then I thought I made a mistake and rebought the same calls. Ameritrade again showing the wrong quote for 4.25/4.35, so I put in a market order and I get 4.9 –WHAAAT?! This was when all the gyrations in the last 1:30 of the day were going on and AAPL was on its way down again so I sold at market and got filled @ 4.8 on that batch for a loss of 2%. Very happy with that considering these calls closed down 23% just in the last half hour.

I bought UWM before the fed announcement @ 50.24 and promptly sold @ 51.08 for a gain of 1.6%.

My QLD buy at 74.36 was sold @ 75.79 for a gain of 2%.

LULU @ 31.42 is up 1%, but had more than that pre market dump. Good entry, soso trade management. Holding overnight this is one I’m OK to hold overnight though.

Overall a great trading day with the potential to have been better than it turned out.

If you like this post, check these out too

• February 12, 2008 -- What Worked Today 2122008
• February 11, 2008 -- What Worked Today 2112008
• January 30, 2008 -- Midday Update
• February 7, 2008 -- Midday Update

Thanks for reading

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