Hello. Continued strength from the indexes are now moving many of our stocks up to and in some cases through our strike prices. Our patience with SOLF has paid off as with today's high volume advance from the stock puts it near the 15 strike price. Hence the new trade. <b>Tuesday, May 6, 2008 1:45 pm EST Sold (1) SOLF Jun 15 (QFGFC) call option contract at $1.25 (bid). RESET Stop Loss: $13.46</b> Model Portfolio will be updated after the close. pay$ensE
FEED me! <b>Tuesday, May 6, 2008 3:25 am EST Bought 100 shares of FEED (AgFeed Industries, Inc.) at $19.00 (ask). Sold (1) FEED May 20 (FQZED) call option contract at $1.00 (bid). Stop Loss: $18.00</b>
Here is where we close out a position to "lock in a gain". We just entered this trade last Thursday so in 3 days - with this stock moving ITM - we have locked in $1.10 out of a possible $1.50 gain. This often happens to the stock/option prices. Since 73% of the total possible gain can now be locked in after just 3 days - why not close out the position and move money into other profitable scenarios like FEED? Of course we could hold the stock with the short call another 8 days until expiration, but there is no guarantee the extra 28% will be gained. We will take the money and run. <b>Tuesday, May 6, 2008 3:35 am EST Bought (1) CALM May 30 (QKMEF) call option contract at $3.00 (ask). Sold 100 shares of CALM (Cal-Maine Foods, Inc.) at $32.60 (bid).</b>
With this CC strategy you can never be a perfect fund manager. I mean look at DNDN about this time last year. And what may happen to VNDA. You just never knwo. But we factor every possible scenario to ensure our goals remain on track - for life! I just took a gander at IOC. Remember how that one bit us REAL BAD about this time last year. (We still ended up ok; ) Well we took a chance with it (when normally we steer clear of any that nailed us in the past) and did ok. But the stock pulled back and the APR calls expired worthless (for our gain). But when waiting to sell the May options we found this quirky holding doing things we did not like - like languishing at lower support with volatility! Without the calls yet sold against the stock we felt vulnerable and cut the holding. How many days later did this one JUMP to 22 and now is near 25? YEAH $700 added to our YTD gains would have been HUGE!! Yes you give up the "opportunity lost" when you sell covered calls and no you will never be <b>perfect</b>. But in the long run we sleep well and manage with ease the loftiest multi-year gains I've ever seen. paysense
Here is an update. It is beginning to be seen how quickly and powerfully this system approach can ramp up gains. of course much skill and caution is advised with these types of issues as (we've seen this Jul '07 - Mar '08) they are the first to move sharply lower with each substantial market decline and can decimate a trader and his/her account value. Growth stocks: nice appreciation in CSIQ. CLWR, too - especially after-hours. With some old and some new leaders breaking out of well-formed bases, this rally has some legs. FWIW My C2 futures-traded funds are regularly making top 10 lists now. Gainers for quarter (for futures and all systems) Gainers this week, since Thurs. since Sun. etc. We are talking 20k and 30k made on 20k and 50k respectively - and that is just two of my seven open systems. What is really neat about futures are that say 10k margin with a 50k fund can make 40k in 2 months. (My market bottom call - reported here - came just 4 days after the Nasdaq low). Also one is deemed as "popular". If this manager has any say about it - these systems have legs, too! p$
Even though there has been 46,000 views of this thread, I still find some things a bit curious. I mean when I started out at C2/ET purporting my said "proven" abilities to manage accounts with a high multi-year average, well the responses I got were - let's say lacking. I mean yeah for the most part 2007 was a very bullish phase for many systems that racked up serious gains (or so many stated on this board). It's not known whether or not said gains have been retained (but I have my thoughts and feelings on this), but when KC Covered Call Fund basically flat-lined many negative responders were quick to flame me. Now that an optimal period is finally (9 months later, lol) upon us said returns are in progress - yet I still get no positive reaction. My take is the few that respond don't know as much as they think and have ulterior (ego-stroking) motives. Perhaps these said reaped gains are in the process of being given back? Either way it is curious how most continue and still are on the wrong side of the market and really only have short-term goals and time-frames with regards to investing (i.e. day-trading). Perhaps I am at the wrong site. Any positive responders or people interested in honest dialogue regarding pros and cons of investment approaches simply do not exist or are hidden in the fabric or woodwork of EliteTrader. Anyway I guess I can continue to have this dialogue with myself since going over and over my said methods reinforces what is correct and good with what I am trying to do. In other words the only replies I get are what I perceive as negative and they only present themselves when things may seem not to be going good with me. I view last year (and the first part of this) as entirely successful since it was in keeping with my management objectives - preserve powerfully compounded past gains for what the market presents as a most opportune time (now) to ramp up more gains! Not getting any constructive responses now actually reinforces my intuition that said responders indeed are and were being negative. I mean I have much advanced management goal concepts I would like to discuss for the benefit of perhaps many others. This isn't ALL about me. Up to the bottom of the correction my covered call approach managed 12% in the prior year while the market and most peoples accounts were crushed if not negative. I KNOW that this would be pleasing to most persons! Sadly most people that would've been interested in what I am doing gave up on themselves with the market decline or believed the "know-it-alls" who said I do not know jack. In any event they do not seem to be around or care - just when things come together. Even more sad is that once said gaining period is completed, then most will become interested, only to have to learn the very same patience through the next market peak and decline. That being said I just turned on my computer (a real benefit for me is not to have to exhaust myself with constant interaction with my portfolios) and found a few pics that may tell the story a bit better than me: Made a list on the homepage of Collective2, a current top performing system at C2, one of my seven systems to compare with, and finally the latest reviews as these short term top performers get the backlash from new subs that may not see another good performing period from the very best of C2. I am still in the early stages of my unfolding futures-traded systems, but I have a long range with which I plan to manage through. I'm hoping the best for myself and the others that may with me continue to see these as successes. Well at least much time is afforded with my approach to banter about during market hours - for me I avoided a HUGE burden of management workload, which didn't happen by accident and was by design; ) ACTUAL NAMES OF MY SYSTEMS HAVE BEEN OMITTED per ET policy Gilbert aka Paysense
Are you upset because no one is stroking your ego or patting you on the book for hypothetical results? Real traders, first of all really trade, and second of all do not need pats on the backs on message boards, they simply look at their account statements which are given with real accounts, not C2 trackings. So dont trade to get applause because trading is a solo sport.
Hello OC: Yes what you say is correct. This thread is about Managing Funds for a Living - which per the first post is only going to happen for me with OP$. The website and C2 funds are a stepping stone to perfect my skills, get a track record, continue to build my trading capital - but ultimately in the next few years I hope to get into "managed accounts" that can get (with OP$) my own account within a range where I can see my target. Say my personal account up to $250,000 so I can then see the $1 - $10's M currently in focus. But on another note. . .I imagine today is a GREAT day for the "solo" traders! and this is the Dow! pS Puretick (whom many discredit) are probably continuing to rack up gains with this setup! (I have only read the website, but I think I know that they are doing what they say - that is why track records are posted and real-life trading rooms are setup. . .to actually show others that you can do what you say. I mean that is true confidence, otherwise it would be in black-and-white that they are continually lying). But yeah perhaps said trading methods can be self-taught. . .but hands-on is (one method) for some to very quickly learn. I am not shilling for them and even though I might one day want to insert "winning" day-trades into my futures-systems to improve stats or otherwise occupy these trading hours - I know I will not ever do this. I am too laid back and want to keep it that way. What I am doing is stressful enuf!! But yeah interesting setup from the indexes today. gA aka pS
You should burn this thread. You're not doing yourself any favors here. I'd suggest you ask the mods to delete.