Being long. Yeh it feels good when you are fully invested and the market roars to new highs. It was a huge day and I’m happy I was on the right side.  The index funds did 3.9-4% gains today.

NDX call options – Took a 60% gain selling out at 20. “I notoriously sell early so there is probably upside left in this trade…” Well since I sold at 20 the NDX calls had to move up another 10 dollars and close out at 30.30. So it could have been a 140% gain if I held on. DAMN! Thats alot of money left on the table. I went in big with the index calls as well using 33% of my total account funds so it was so far my single biggest option trade for me on a dollar gain basis.

ERTS – I sold those July call options for a big loss, but that was my smallest option trade. Then I got stopped out of my August ERTS calls near the close of the day. Well I shouldn’t say stopped I put in an order and forgot it was on and it got hit. Otherwise I wouldn’t mind owning those August calls right now. I saw Rockband on G4’s coverage of E3 and it was pretty cool. So I’m out of ERTS and I wish it well.

MDT – Swung from negative to positive at the close. Price action did nothing for these options. I need .15 to get back to even, but the chart looks good and I think with the breakouts we saw today people will be sniffing out new sectors. The med device sector has been undercovered.

EBAY – The Ebay calls I bought yesterday are up 21% doing well and negating my MDT loss. Plus the equity position I have in my IRA is up 2%+. I like the internet sector.

LVLT – I’ve got the 7.5 Septembers and I need a nickel to get back to even and anything more than that I’m gonna get paid.

I’ll do a chart fest in the next post.

Thanks for reading

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