I found that owning UAUA while perhaps was at a low was not worth anymore risk. I closed out all of UAUA except 2 that are covered with 4 15 Jun calls. took about -13K hit on that. I will add in the revenue if any from the calls when i sell or at exp. Oil just hit another high and with the slightest issue in the news I think could spike causing UAUA to drop in half again. Just having oil sit at the current price and UAUA could be in bad shape. UAUA was the last long I entered under the old signal setup rules. Closed out all of GTI less 1 for a small profit. Closed out ZOLT for a small profit. S 2 more MMR @ 33.75 2059 @ 34.36
1Reason, I note with curiosity the Weinstein name mentioned in your thread title - dare I ask, does it refer to Mark Weinstein? He mentioned finding his best trades in fading an issue losing momentum. In any case, I will ask this forum again - has anyone heard of his whereabouts or activities post-Market Wizards? Thanks, Greg
Hello Greg, no relation to Mark W. Its my name. I used it to keep myself focused and to give one more reason to not enter into 'stupid' trades as it was my name on the line.
I bought back all 3 CVX 90 jun puts at .25. + 225 Then sold 3 CVX 100 puts @ 1.71 now have 5 CVX 100 puts @ 1.58 to cover my CVX short @ 99.50
Shorted another MMR @ 33.74 now 2259 @ 34.30 side note, the order was for 200 shares and I used ISE to route the order. IB charged me 14 cents total for the order.
Closed out UAUA. several lessons learned with this one. Including don't leave early on Friday unless your covered UAUA is covered. only 4 of the 39 options where lifted and the other 35 were supposed to be 12.50 jun calls. Needless to say that mistake was costly. Closed out of ZOLT GTI and MMR at what feels like a small profit. ~ + 1500 left open is covered 5 CVX shorts, 1 SYNA short, and 9 STO shorts. - 11624 for the day - 12143 for the week - 3239 for the month + 36214 for the year
S 2 FRO @ 68.24 New S:Brenton This is a swing trade that I have several entry points to enter in today and tomorrow. I will be fading the move upward with a up to five day time frame for exit