LEH, WLT, WLL, COG, DVN, XEC, FDG, MMR and ISRG

GE earnings were lower then expectations and stock dropped down nearly 13%. This is the first time since 1987 that GE has failed the markets and this brought back vivid memories of BLACK MONDAY.

With G7 meeting this weekend, we have masters in session, as worried as we all are. $VIX index inched up as Dow fell 256.56 points, Nasdaq down 61.46 and S&P down 27.72. Monday morning will likely open lower and we go from there, as that will likely fill the last Gap in Indicies.

Stay awake this week as MER and C are due to deliver ( ugly ) results for the first quarter. As heard on Fast Money Friday, market will likely spare only one from LEH or MER in the coming days. Let us see how that pares out.

We have nine, yes 9, open trades at this time. We have however shunned the shorter term trades and gone with atleast 60 to 120 days time options as markets have not been kind and wild swings are the norm.

2008 Project Mercedes

Account Value: $ 9,624.90
Account Return for 2008: 92.58 %

OPEN TRADES::
LEH, WLT, WLL, COG, DVN, XEC, FDG, MMR, ISRG

------------------------------------------------------------------------
Trades since our last update are as under:

Trade # 40 Part LEH
Put July 10 Buy: $ 0.75 Sell: $ 0.90 Lots 8
Return:: 20 %

Trade # 45 SGP
Call Aug 12.50 Buy: $ 2.90 Sell: $ 3.60 Lots 2
Return:: 24 %

Trade # 46 MRK
Call Jul 37.50 Buy: $ 3.50 Sell: $ 4.00 Lots 2
Return:: 14 %

Trade # 47 SPY
Put Apr 136 Buy: $ 2.61 Sell: $ 2.24 Lots 2
Return:: ( = ) 14 %

Trade # 48 LNG
Call Jun 20 Buy: $ 2.20 Sell: $ 2.40 Lots 2
Return:: 9 %

Trade # 49 SPY
Put Jun 138 Buy: $ 6.35 Sell: $ 7.05 Lots 1
Return:: 11 %

Trade # 50 QID
Call Jul 46 Buy: $ 5.20 Sell: $ 5.40 Lots 1
Return:: 4 %

Trade # 51 DXD
Call Jul 53 Buy: $ 5.10 Sell: $ 5.50 Lots 1
Return:: 8 %

Trade # 57 AXP
Call Apr 42.50 Buy: $ 2.30 Sell: $ 2.60 Lots 2
Return:: 13 %

Trade # 59 APA
Put 120 May 120 Buy: $ 3.50 Sell: $ 4.20 Lots 1
Return:: 20 %

Markets are turbulent ahead. Play safe.

Harry

LEH, LNG, MRK, SGP, SPY, WLT, WLL

Stock Options is a great medium to enhamce and improve your capital base in tough financial environment that we are passing through. Noone exactly knows or understands the Derivative Stockpiles that world is piled on through the numerous world wide Bubbles.

George Soros, one of the greatest speculator, who made 1 Billion dollars overnight in his famous GBP trade has been so worried that he has come out with an e book on this current crisis, as he cannot wait for the real book to be published sometime in May 2008. That sure is something to think about.

Our 2008 Project Mercedes has been fruitful so far. If you would like to drive a brand new Mercedes Benz without spending any of your own money, feel free to e mail us and we will send you a complete article on how to do just that, with the help of stock options.

2008 Project Mercedes

Account Value: $ 9158.90
Account Return for 2008: 83.18 %

Open trades as of date: LEH, LNG, MRK, SGP, SPY, WLT, WLL
------------------------------------------------------------------------
Meanwhile, closed trades since our last trades update are as under:

Trade # 43 SPY
Call Jun 132 Buy: $ 6.95 Sell: $ 805 Lots 2
Return:: 16 %

Trade # 41 APA
Put May 120 Buy: $ 7.20 Sell: $ 8.10 Lots 2
Return:: 13 %

Trade # 39 WMT
Put Jun 55 Buy: $ 3.10 Sell: $ 3.50 Lots 3
Return:: 13 %

Trade # 38 NFLX
Put Jun 40 Buy: $ 5.80 Sell: $ 6.40 Lots 2
Return:: 10 %

Trade # 37 INSP
Put 11 Buy: $ 1.20 Sell: $ 1.15 Lots 2
Return:: ( - ) 4 %

Trade # 36 AAPL
Put Apr 140 Buy: $ 5.65 Sell: $ 6.00 Lots 2
Return:: 6 %

Trade # 35 AAPL
Put Apr 135 Buy: $ 3.60 Sell: $ 4.00 Lots 2
Return:: 11 %

Trade # 34 ALO
Put Jun 30 Buy: $ 4.00 Sell: $ 3.80 Lots 2
Return:: ( - ) 5 %

Trade # 33 PCP
Call Apr 100 Buy: $ 4.30 Sell: $ 4.55 Lots 2
Return:: 6 %

Trade # 32 GRMN
Call Apr 60 Buy: $ 3.30 Sell: $ 3.60 Lots 2
Return:: 9 %

Trade # 31 BG
Call Apr 90 Buy: $ 7.30 Sell: $ 8.20 Lots 1
Return:: 12 %

Trade # 30 AAPL
Call Apr 135 Buy: $ 4.45 Sell: $ 7.60 Lots 2
Return:: 71 %

Trade # 29 AAPL
Call Apr 130 Buy: $ 6.60 Sell: $ 10.80 Lots 2
Return:: 64 %

Trade # 28 FXE
Put Apr 157 Buy: $ 2.70 Sell: $ 3.00 Lots 2
Return:: 11 %

Trade # 19 SPY
Call Mar 135 Buy: $ 1.83 Sell: 1.24 Lots 14
Return:: ( - ) 32.25 %

Trade # 12 $OEX
Call Mar 645 Buy: $ 2.25 Sell Zero Lots 12
Return:: NIL... Expired Worthless

Markets : Volatility is down and good upswings all over. That spells CAUTION as we are getting closer to first target resistances.

We will return with further Market updates. Stay awake as it will surely get exciting with FED testimony coming two days and NON FARM numbers coming up this Friday.

Happy trading.

Harry

Stock Options account from $5,000 to $22,000 and $ 40,000 Margin Call

Wow... what a week so far. Markets are relatively stable but our account exploded. Read on pls.

Monday morning we closed our positions carried over from last week and opened some new trades later on during the day.

And then starts some fun time with account balances exploding upside and Margin calls. Due some computer glitch, seems we had some positions carried forward that should not have.

Result was .. our account balances jump to over $22,000 ( how nice ) on Monday night followed by a huge Margin Call Tuesday at 11 AM to deposit $ 25,000 by 2 PM same day or else all positions will be liquidated.

Within minutes of that margin call, we closed all open position at that time, about 6 of them, at the Market, without even glancing at ongoing prices. With all positions having closed at Market before the due time for margin call, margin requirements exploded ever higher.

Another Margin call came though following day for $40,000 and account was locked out automatically. We could neither trade nor figure out what was happening, as the account was referred to RISK Management at our Broker and they were looking into it.

This morning, however, everything opened back normally.

Due to all these haphhazard trades, that we had to close at moments Margin Call notice, account balances have naturally suffered. In addition, two Index trades have closed almost worth less at expiry and we will attribute that to our negligence, over confidence ( leaving open trade while away on holiday ) as well as BEAR STEARN domino affect on the markets.

We are sorting out all positions and will report final situation as of month end. Inspite of all this, we still have over 75% returns for less then three months, when all Indices and markets are seriously negative.

Open trades at this time are:: LEH, APA, WLT.

Happy tradin.

Harry

AAPL, BG, PCP and our NEW FORMAT Short, Long Stock List

Bear Stearns and continuing Subprime worries have cast many or most investors mind set into serious BEAR mode. Naturally, majority of us will stay away right now worrying about Financial meltdown.

Wall Street always climbs on wall of worries. May be this is the time we should be prepared to buy, when everyone else is ready to sell or has already sold. Most indexes have tested January lows and likely Double Bottomed.

If you notice, list of our posted SHORT candidates is small compared to our LONG candidates. No one can ever predict what will really happen, but if you decide to make some long positions as part of your trading strategy, as we are, give your self enough time for market to swing up, if at all.

However, dont forget we are in BEAR Market and any serious bad or negative news can easily turn things anytime without notice.

For every long trade, try balance with a short trade and place your stop losses intelligently. Preserve your capital, so that you are around for next swing. Survival first is the key in volatile markets.

Here are short listed Liquid Optionable candidates for SHORTS and LONGS::

OUR OPEN TRADES: AAPL, BG, PCP
OUR CLOSED TRADES: $OEX(-), SPY(-), FXE(+), GRMN(+)

OUR SHORT CANDIDATES: ALO, CLHB, HCBK, NFLX, INSP, WMT.

OUR LONG CANDIDATES: NOK, OMRI, EEM, FRG, ATHR, ATPG, GLBL, GOOG, IBKR, ERIC, UNFI, AU, BDC, BGP, EK, NCX, OEH, URS, BG, PCP.

Good trading.

Harry

NEW FORMAT with Stock lists, AAPL, BG, PCP

Holidays are great time to relax, re-charge, re-view and re-format your strategies. As such, after the well deserved break, we have a NEW format for our Blog effective hereon. We hope that you come back again and again, as often you like and review the postings.

We will be posting our current open trades for this account. In addition, we will daily ( or as often as we can ) post stocks that we personally consider are good candidates in the market for the swing trades, both long and short.

We will however not post any details of exact " CALLS " or " PUTS " that we may or may not take in the market from this list. In other words, the long / short list will be our short listed stock list that we are looking at that particular time for swing trades.

It will be upto to the reader to secure any positions in the market from the list, keeping in mind RISK and REWARD situation, based on their own account size and risk tolerance. Due Deligence please.

Markets are always changing and stocks posted here may or may not turn out to be good candidates. Also depending on any news, including guidance, earnings reports etc, stocks may and will reverse. Therefore, please educate yourself enough in the markets before you trade.

Be aware that over 90% traders lose money in the markets. And therefore, please, only use money that you can afford to lose. Any trade that you take in the markets could turn on a dime. So watch your trades deligently and set your profit and loss limits and monitor them closely.

Trade performance hereon will be updated every month end, as it takes away too much time to update trade by trade and is of no benefit to readers per say.

OUR OPEN TRADES: AAPL, BG, PCP
OUR CLOSED TRADES: $OEX(-), SPY(-), FXE(+), GRMN(+)

OUR SHORT CANDIDATES: ALO, CLHB, DCOM, HCBK, KEX, LNN, NFLX, ONB, WWE, XIDE, AXYS, ELRC, INSP, VLNC, KEX, OFG, WMT,

OUR LONG CANDIDATES: BIP, BKR, GCH, IXC, KB, NOK, OMRI, UTG, EEM, EWI, EZA, FRG, IHF, KOL, USM, ATHR, ATPG, BPFH, CLMT, GLBL, GOOG, IBKR, SINT, ERIC, UNFI, AU, BDC, BGP, BNS, BT, EK, NCX, OEH, TI, URS, BG, PCP,

Note: Some Stocks may not be optionable from above list.

Any suggestions will be very welcome.

Great Easter Holiday for everyone.

Harry

Holiday ends .. FEAR GREED, AAPL, $OEX, SPY and FXE

Dominican Republic Island holiday was a great breakaway but FEAR set in markets with BEAR (Stearn) EXPLOSION news every where and I will not deny CNN news was one of the pastimes besides sun and drinks.

Looking back, leaving open trades while on holidays was not a great idea after all. We still have 2 open trades and time line is so very thin, mere 3 days to expiry.

Other two open positions in AAPL with more then enough time on our side have already been closed this morning with nearly 50% profits and details will be posted shortly.

Fear set in since last Tuesday has eroded even the normal market movements and affected our values. Tuesday with 400 + Dow movement was a perfect day to get out of our two open Index positions, but markets since have swung back with out filling us at "breakeven limits" due to BEAR STEARN news and this will likely hurt bad.

Markets will slow down for FED interest rate news at 2 15 this afternoon and we will monitor our 2 sick positions with " bated breath and hanging tongue ", an expression usually used and saved by one of our grown up friend for big boys club when we are out partying.

Pre FED huge rally this morning is in anticipation of atleast 75 basis cut (or even more, as some have predicted 100 to 200 basis points) looking at the precarious credit and liquidity issues in the markets. Market are in complete turmoil and Derivative meltdown is the focus. Derivative markets have grown to over 45 Trillion with " T " and even a 5 % default in these markets will be a write down of 2.5 Trillion with " T ".

And now, just think about this for a second ... if for any or what ever reasons, there is just 75 basis cut or less, market mavens feel this is not enough and this could easily erase the rally of today, $ VIX spikes back up. Just a thought on " FEAR and GREED " emotions so very easily turned either way.

Have a nice day and profitable one at that.

Harry

--------------------------------
4.05 PM:

Two trades we closed in AAPL today are as under:

2008 Project M .. TRADE # 26: AAPL

Mar 06, 2008 AAPL Buy Apr 135 Call $ 3.10 .. 2 Contracts
Mar 18, 2008 AAPL Sell Apr 135 Call $ 4.55 .. 2 Contracts

Time: 12 Days

Return: 46.77 % or $ 291.00
--------------------------------

2008 Project M .. TRADE # 27: AAPL

Mar 06, 2008 AAPL Buy Apr 130 Call $ 5.16 .. 2 Contracts
Mar 06, 2008 AAPL Sell Apr 130 Call $ 6.90 .. 2 Contracts

Time: 12 Days

Return: 21.62 % or $ 520.00

Account Value: $ 11,020.90

HOLIDAY TIME ... Away for March Break

Off to Caribean Island Peurto Plata for March break Holiday, away from 25 cms snow in Toronto this weekend. I hope flights are able to take off and take me away, although Airport delays are more then likely.

Another trade in AAPL and this time a Put option has been executed for 20% profit in less then 2 hours.

2008 Project M .. TRADE # 25: AAPL

Mar 06, 2008 AAPL Buy Mar 125 Put $ 3.70 .. 1 Contract
Mar 06, 2008 AAPL Sell Mar 125 Put $ 4.50 .. 1 Contract

Time: 2 Hours

Return: 21.62 % or $ 80.00

Account Value: $ 10,209.90


Enjoy March Break Holidays and Play safe.

Harry

SPY, AAPL, $OEX and Account DOUBLED in 65 days

Power rally fizzled out very easily, right after trading in AMBAC shares was halted at 12.01 noon.

We have closed two other positions in AAPL, leaving us two open trades in Indicies that are not doing as well. We will monitor along, although will be away all next week and that does not help as both these will expire this month, few days after return. Well, that is life. Win some Lose some.

And with closing of these 2 trades, our 2008 Project Mercedes account size has doubled since we started posting trade by trade Journal through this blog starting Jan 1st, 2008.

SIDE NOTE ::: Earlier when I started trading, there were lots of time when account size would go down and I would take family out for a dinner and we all would call that " PITY PARTY ". Times when I had good trading day, I would reward myself by a day out alone and guess to where ... COLES Book store. So many Pity Parties later, a library full with more then hundred books on trading and markets says it all. Journey worth every bit of pain and fun.

2008 Project M .. TRADE # 21: AAPL

Mar 03, 2008 AAPL Buy Apr 130 Call $ 4.825 .. 4 Contracts
Mar 05, 2008 AAPL Sell Apr 130 Call $ 5.60 .. 4 Contracts

Time: 2 Days

Return: 16.06 % or $ 310.00

Account Value: $ 9,989.90


2008 Project M .. TRADE # 22: AAPL

Mar 03, 2008 AAPL Buy Apr 135 Call $ 3.55 .. 4 Contracts
Mar 05, 2008 AAPL Sell Apr 135 Call $ 3.90 .. 4 Contracts

Time: 2 Days

Return: 9.86 % or $ 140.00

Account Value: $10,129.90 ( DOUBLE Starting capital )

Happy Trading ...

Happy March Break ahead ...

Harry

Power Packed Rally and AAPL, $OEX, SPY

Rally off the lows of yesterday was power packed and all Indicies shot up this morning session and $VIX has fallen under 25 level.

AAPL shares have bounced around after the meeting yesterday, where company declared it has no plans for a Buy Back or Dividend. We had sold our March 120 Call option in anticipation of the meeting for a quick 18.52 % profit and re-entered another trade in AAPL on weakness at the open and closed same with in an hour for another quick turn around profit of 22.50%.

2008 Project M .. TRADE # 24: AAPL

Mar 05, 2008 AAPL Buy Mar 120 Call $ 4.00 .. 2 Contracts
Mar 05, 2008 AAPL Sell Mar 120 Call $ 4.90 .. 2 Contracts

Time: 1 Hour

Return: 22.50 % or $ 90.00

Account Value: $ 9,679.90

Power packed rally day(s) ahead , hopefully they last.

Have a great day.

Harry

AAPL, $OEX and SPY

Market shake out was fast and furious all day long, until final 2 hours of the trading day.

$VIX spiked higher early on while FED was speaking and contradictory viewpoints by chief Bernanke and Governor Kohn confused participants and added to volatility.

Dollor Index coming off its lows, Gold down nearly $18, Oil under $100 as the day progressed and it seemed like market turning point. We added some positions to our Index trades and cashed out one AAPL trade for a swift swing 18.52 % profit.

2008 Project M .. TRADE # 23: AAPL

Mar 03, 2008 AAPL Buy Mar 120 Call $ 6.75 .. 1 Contract
Mar 04, 2008 AAPL Sell Mar 120 Call $ 8.00 .. 1 Contract

Time: 1 Day

Return: 18.52 % or $ 125.00

Account Value: $ 9,589.90

Have a great evening everyone.

Harry

AAPL again, $OEX, SPY Trades

March went out roaring like a Lion.

Rally almost fizzled out Friday or so it seemed for most ( and for us as well ). Bond markets were shaken up badly as 3 headge funds were rumoured unloading late Friday and that spooked everyone. Margin calls were flying everywhere for overly leveraged and that is exactly why they call "Leverage" as a double edged "Sword".

Carry trade currency pairs also broke through supports and have since stabilised. After 8 down days in a row ( and that is really quite rare ) $DXY has finally found some strength and headed higher to atleast touch the 74.50 level. Non Farm Payroll numbers this coming Friday at 8 30 AM sharp will be quite another story.

Hopefully lose hands and weak Bulls are shaken out in Stock markets as well. $VIX has spiked higher this morning and back down again since and that should calm the nerves a bit.

We have entered three new trades .. all Calls in AAPL, with 3 different time lines and strike prices. Other two trades in $OEX and SPY were rattled in this Bond market nervousnous and drawdowns everywhere and we are trying monitor and manage best we can.

As long as we are not overly leveraged, all positions in Options trading can be adjusted and managed, inspite of all the restraints and factors.

Watch continues and we still eagerly await our much anticipated Rally.

Good day ahead.


Harry

AAPL 20% profit limit in a day and $OEX and SPY

Rally Bulls shake out in markets as all Indicies sink in with the historic lows in the USD and new multi year highs in some currencies. Sentiment has turned against USD and feeding frenzy continues.

Some target supports and resistances seem to have been satisfied in EUR and YEN and carry trade pairs EURYEN and GBPJPY look well supported as well. Weekend should bring some calm and routine reversal / retracements to all the markets hopefully.

Volatility has shot up above 25 level and touching the wedge bottom and hopefully should scale down from here. That should mean Rally will be back soon or all hell will break lose in Stcok markets. It is all wait and watch from here, as either direction has equal chance.

We closed our reversal short trade in AAPL with 20% profit limit in a day. No more open positions in stocks except two Index positions in $OEX and SPY. Also scaling out as time to get ready for a much anticipated mid March hot break to Carribean Island Peurto Plata in Dominican Republic, a gift from my lovely boys and a surprise trip for my lovely wife ( she never reads this blog as far as I know )

2008 Project M .. TRADE # 20: AAPL

Feb 28, 2008 AAPL Buy Mar 130 Put $ 5.00 .. 2 Contracts
Feb 29, 2008 AAPL Sell Mar 130 Put $ 6.00 .. 2 Contracts

Time: 1 Day

Return: 20 % or $ 200.00

Account Value: $ 9,464.90

Enjoy the weekend please.

Harry

AAPL Reversal, $OEX and SPY

Negative all across after comments from FED chief about the economy. Forex markets had another down day for US Dollor as $DXY sunk further as new HIGHS were made against USD in EUR, CHF, AUD and NZD pairs. What a powerful negative show of sentiment against the USD while FED Chief was on air.

AAPL had a great reversal from the bottom seen just three days ago. And we have our first losing trade since we started trade by trade journal on this blog.

2008 Project M .. TRADE # 11: AAPL

Feb 04, 2008 AAPL Buy Mar 140 Call $ 1.66 .. 20 Contracts
Feb 28, 2008 AAPL Sell Mar 140 Call $ 1.57 .. 20 Contracts

Time: 24 Days

Return: (- ) 5.39 % or $ 179.00

Account Value: $ 9,264.90

We closed our Long trade in AAPL with a small loss and opened another short term reversal trade in same security. Another trade was opened in Index SPY and $OEX is still open.

Volatility has returned a bit with the FED chief in the hot seat all day. Tomorrow is the last day of the month and that adds to same as some position squaring always happens.


Happy trading.


Harry

GOOG, AAPL and $ OEX

Stock Market Rally continues while USD is getting annihilated in Forex Markets.

$DXY gapped open lower at 74.429 and staying under previous low of November 23 2007. This action is very confusing in view of FED remarks about Inflation worries and markets continuing interpretation of further rate cut expectations. This sure has reflected well for Gold bulls.

We opened a new trade in GOOG yesterday, after the downgrade and caught a bit of a rally here.

2008 Project M .. TRADE # 18: GOOG

Feb 26, 2008 GOOG Buy Apr 560 Call $ 3.20 .. 1 Contract
Feb 27, 2008 GOOG Sell Apr 560 Call $ 4.10 .. 1 Contract

Time: 1 Day

Return: 21.87 % or $90.00


Account Value: $ 9,443.90


Good day ahead.


Harry

AAA for NOW ... Targets for DOW, NSDQ, $SPX, $OEX.

Verdict is " AAA " for now.

ABK and MBIA ratings got reaffirmed and that helped push markets up. This further reaffirms and confirms our expected test of major Resistances ( Supports before the free fall of January )

For DOW our targets are :: 12894, 13233, 13651 and 13657.
For $SPX our targets are :: 1420, 1461, 1510 and 1512.
For NSDQ our targets are :: 2538, 2629, 2720 and 2729.
For $OEX our targets are :: 664, 683, 704 and 707.

AAPL and $OEX trades are open and under close watch due to March Expiry.

Happy trading.

Harry

ALL GREEN at end of Friday and AAPL and $OEX

Impressive comeback end of Friday as all Indices surge back up and end in GREEN. Dow closed up around 225 points off it lows in the last hour of session. Same kind of bounce back in $SPX and Nasdaq came back a bit as well, having fallen in technical BEAR MARKET territory during the session.

Expected AMBAC bail out by Banks next week is the clue here and hopefully that story helps shake out fears about and avoid deeper credit problems in the markets at this time. Rally ahead will depend on confirmation of above rescue early next week.

Inflation and Stagflation are the new buzz words floating around everywhere.

Let us wait and watch the rally play out.

Have a great weekend.

Harry

RIMM EXPLODES and AAPL, $OEX on watch

Market rally got some strength yesterday as all Indices moved up with stronger volume then we have seen last couple of days, and right after the FOMC minutes were out. Test of resistances overhead is imminent.

Frustrating but real life situation here ... our outage in Telephone and Internet is ongoing. Amazing how irresponsible and inefficient service providers are in technologically advanced market place.

We are pleased to open and close another trade in our darling security RIMM which exploded to the upside this morning on Black Berry guidance news.

2008 Project M .. TRADE # 17: RIMM

Feb 15, 2008 RIMM Buy Mar 103.375 Call $ 2.210 .. 3 Contracts
Feb 21, 2008 RIMM Sell Mar 103.375 Call $ 9.283 .. 3 Contracts

Time: 6 Days

Return: Drum Rollllll pls ..... 419.90 % or $2121.00


Account Value: $ 9,373.00


Without Telephone and Internet services, we are really handicapped but this has been an amzing gift for the loss and waste of time otherwise. With this, Rimmm has reached our upside target price and should consolidate or drop down from here a bit. We will watch and pray for services to be restored.

Other trades in AAPL and $OEX are also being watched closely.

Good day ahead.


Harry

MMM, AAPL and $OEX Trades

Market rally is getting sold off ahead of three days break ( Monday is a Holiday in North American markets ).

Incapacitated by Internet and Telephone Service outages, our break in trading is extended one and likely end middle of next week sometime.

We have somehow managed to open and close another trade in MMM while remote watching our open trades. We still await a full blown rally that we feel is necassary and waiting to happen, for confirmation of long term trend breaks in January that shocked and rocked many participants out of the markets.

2008 Project M .. TRADE # 16: MMM

Feb 13, 2008 MMM Buy Mar 80 Call $ 2.20 .. 2 Contracts
Feb 15, 2008 MMM Sell Mar 80 Call $ 2.50 .. 2 Contracts

Time: 2 Days

Return: 13.63 % or $60.00


Account Value: $ 7,252.00


Enjoy the long weekend ... Feel Blessed for everything, review all your positions and rest well to trade safe. Always remember that market participants usually re-evaluate and many a times new positions and directions are initiated right after these brief breaks.

Harry

AAPL, $OEX and Internet Service Interruption

Markets are trying get back up slowly and we are watching our trades in AAPL and $OEX. Rally has been slow but steady and we still feel this is a BEAR MARKET rally and we have further downside coming.

Toronto, where we are located, has had over 50 Cms of snow past two weeks. As long as you do not have to shovel the snow from your drive ways and clear your side walks, it looks so pretty and scenic everywhere.

We are enjoying the natural beauty, more so, as we have a situation here and our Internet as well as Telephone services are severely interrupted. As such Blog updates and trading activity has automatically slowed down. Amazing how much we rely and depend on Internet and how lost, business wise, we feel when we are cut off.

Stay warm and stay tuned.

Harry

Wobbly Wobbly ... Rally that is and RIMM, FDG Closed

Markets have opened on a weak note, on marked weakness in EUR YEN and GBP YEN overnight due to strength in YEN. However, that brings all Indices as well as Carry trades to Fibonachi supports or wave b of abc rally. This will help shake out all weak Bullish participants, assuming this is still a rally in the overall Bearish down move.

Many stocks have GAP opened and that usually means Market Makers will have fun filled swing ride. Using this opening strength, we closed our trades in RIMM and FDG.

2008 Project M .. TRADE # 09: RIMM

Feb 04, 2008 09:50:01 RIMM Buy Mar 100 Call $ 3.58 .. 4 Contracts
Feb 11, 2008 09:55:42 RIMM Sell Mar 100 Call $ 4.00 .. 4 Contracts

Time: 8 Days
Return: 11.73 % or $168.00


2008 Project M .. TRADE # 15: FDG

Feb 08, 2008 10:24:38 FDG Buy Mar 45 Call $ 3.70 .. 1 Contract
Feb 11, 2008 09:55:46 FDG Sell Mar 45 Call $ 4.10 .. 1 Contract

Time: 1 Day ( Weekend Overnight trade )
Return: 10.81 % or $40.00


Account Value: $ 7,192.00


Good Day

Harry

COAL is NEW GOLD - FDG, FCL and ACI

Markets continued spinning all day Friday at Supports and bulls were stressed all day long. However, in the last 2 hours some serious buying happened and most stocks rallied. Apple and RIMM both rallied nearly $4.50 each, all Indexes seem like well supported into the weekend and G7 meeting during this weekend may help further this Rally.

Up coming week is Option expiry week and there could be usual fireworks around. We will be watching Resistances here on with bated breadth as this Rally could end very abruptly.

Markets are overall very stressed as Credit crisis is simply getting worse by the day, Consumers are exhausted, Credit Spreads are getting really dangerous, and Unemployment is a very serious concern.

Trying trade BEAR RALLY is like catching a Falling knife and you can imagine and visualise the consequences of that exercise. This a time to be very aware of market internals and watch them closely. Markets could turn on a dime any moment.

Coal stocks have become new Gold of the times and most Coal stocks have rallied almost like 40 to 50% in the past couple of weeks. There should be a pull back very soon but worth keeping an eye on all of them.

We have taken a position in one of them and FDG is our 15th trade of 2008 Project M.

Weekend before Option expiry is always a working weekend besides family and fun.

Have a great time.

Harry

CME, ICE, AAPL and RIMM

Markets are churning away. Volatility is mind numbing and our rally got stalled, mainly due to stocks like CME, ICE, AAPL and RIMM. Down one day and Up next day.

CME's drop of $103.55 yesterday and gain of $42.76 today was a killer of a move and anyone in the right direction would be done a years worth of profits in two short days.

Market action back up today, however slight that was, looks promising as all the supports are intact and rally should gain strength with The House and Senate approval of $170 Billions Rebate programme ( increased from $150 Billions before ), aimed at spurring the economy.

We took advantage of weakness yesterday to buy some additional lots in our current holdings.

Happy trading and sleep well.

Harry

$OEX, RIMM, AAPL, FMCN and EWZ

Markets got slammed yesterday. Dow down 370 points had biggest percentage drop in almost a year. Volatility is here to stay and traders love that. ISM was 2nd worst ever and that sounds like a full blown recession ahead.

Market drop has swung us back into support areas and we will likely go for test of resistance areas. This scenerio should lead us into higher prices for next couple of days as carry trades are also bouncing off 62% retracements of last up move from January 22nd lows. Technicals still paint this as a BEAR MARKET rally and we should stay wide awake.

We have taken two additional trades ( FMCN and Brazil shares ETF EWZ ) in the final minutes of closing yesterday. Busy day ahead and we have all our trades LONG to capitalise the rally.

Good day.

Harry


11:40 AM. We have closed two trades taken in the final minutes of closing yesterday. Please see details here under::

2008 Project MERCEDES .. TRADE # 13: FMCN (Long ..reverse trade of yesterday)

Feb 05, 2008 15:21:14 FMCN Buy Mar 45 Call $ 5.30 .. 2 Contracts
Feb 06, 2008 11:30:23 FMCN Sell Mar 45 Call $ 6.30 .. 2 Contracts

Time: 3 Hours ( Overnight trade )
Return: 18.87 % or $200.00


2008 Project MERCEDES .. TRADE # 14: Brazil Etf EWZ

Feb 05, 2008 15:38:49 EWZ Buy Mar 75 Call $ 4.90 .. 2 Contracts
Feb 06, 2008 11:32:53 EWZ Sell Mar 75 Call $ 5.50 .. 2 Contracts

Time: 3 Hours ( Overnight trade )
Return: 12.24 % or $120.00


Account Value: $ 6,984.00

Stay tuned please.

$OEX, RIMM and AAPL

ISM reports were released earlier then scheduled, before the market open and that in itself is something to think about. Reports were way under the market expectations and participants managed to digest the news without too much fear and emotions. Another original way to support the markets and seems FED and so called or rumoured Plunge Protection Teams are doing everything to avoid the free fall.

Markets GAP opened lower and likely bouncing off expected supports levels.

We closed our FMCN trade and opened another in main market index $OEX (Trade # 12)

2008 Project MERCEDES .. TRADE # 10: FMCN

Feb 04, 2008 10:00:59 FMCN Buy Mar 50 Put $ 5.70 .. 2 Contracts
Feb 05, 2008 11:11:43 FMCN Sell Mar 50 Put $ 6.20 .. 2 Contracts

Time: 1 Day
Return: 8.87 % or $100.00


Account Value: $ 6664.00


Good day.


Harry

RIMM, FMCN and AAPL

MSFT YAHOO takeover bid has reinforced the Rally and world markets all over bounced back Monday. Risk appetite has improved a bit and carry trades have lead to upswings in EURYEN and GBPJPY overnight.

Inspite of very poor NON FARM numbers Friday, US Dollor has garnered strength and Gold is down testing supports. Indexes are all within reach of testing resistances. $VIX is right at the top of wedge and likely falling down and headed for 20.72 ( 200 MVA )

Economic calendar this week is almost devoid of any market moving numbers.

We have opened two new trades this morning ..... our favourite RIMM and FMCN (Trades # 9 and 10 of 2008 Project M)

Good Luck ahead.

Harry

14:50 Afternoon: We have opened another trade in AAPL ( Trade # 11 ). Markets are direction less and vibrating away, looking for any clues from the ongoing Subprime and ABCP saga.

2008 Project MERCEDES ... TRADE # 7, 8 Closed

Markets spiked lower on open and then rallied up big time off those lows, eventually closing in between the highs and lows. $SPX closed right under Resistance line ( March and August lows ) and that clearly points to Bearish undertones in market internals. Rally from last Tuesday bottom is on reducing volumes and $VIX is perched right above the top of the wedge line ( August and November highs ). It could spike higher on adverse NON FARM payroll numbers tomorrow morning at 8 30 AM EST.

We have closed our IACI open trade # 7. In addition we opened and closed our trade # 8 in RIMM as detailed hereunder:

2008 Project MERCEDES .. TRADE # 7: IACI

Jan 29, 2008 09:31:07 IACI Buy Feb 25 Call $ 1.50 .. 2 Contracts
Jan 31, 2008 14:47:47 IACI Sell Feb 25 Call $ 1.60 .. 2 Contracts

Time: 2 Days
Return: 6.67 % or $20.00
( barely enough to cover the commissions but positive none the less )


2008 Project MERCEDES .. TRADE # 8: RIMM

Jan 31, 2008 11:00:27 RIMM Buy Mar 100 Call $ 4.75 .. 2 Contracts
Jan 31, 2008 15:48:12 RIMM Sell Mar 100 Call $ 5.85 .. 2 Contracts

Time: 4 Hrs 48 Minutes
Return: 23.16 % or $220.00


Account Value: $ 6564.00

Non Farm Payroll number every month is "forex" market mover and sets the tone for coming month currency markets and absolutely impacts the stock markets as well. Fed would have loved to see these numbers before the 50 basis cut yesterday.

We are flat in markets ( no open positions ) before the NFP numbers.

Enjoy the ride along.

Harry

2008 Project MERCEDES ... TRADE # 5, 6 Closed

Fed delivered what market wanted... 50 basis cut and markets yawned after a spike up. Infact markets closed down and blood red all over. This is really scary either way.

What it looks like is either a fake out and markets will rally tomorrow on for few days or rally is already done as $SPX and many other indices KISS touched the resistance and are ready to roll all over again. We will sure find that out pretty soon.

Very very tough to trade markets like they are lately. We have however, closed and cashed, our Rimm trades # 5 and 6.

2008 Project MERCEDES .. TRADE # 5: RIMM

Jan 25, 2008 10:46:36 RIMM Buy Feb 100 Call $ 2.40 .. 8 Contracts
Jan 30, 2008 15:59:51 RIMM Sell Feb 100 Call $ 2.91 .. 8 Contracts

Time: 6 Days
Return: 21.12 % or $408.00

2008 Project MERCEDES .. TRADE # 6: RIMM

Jan 25, 2008 15:39:25 RIMM Buy Mar 100 Call $ 6.20 .. 2 Contracts
Jan 30, 2008 15:59:51 RIMM Sell Mar 100 Call $ 6.90 .. 2 Contracts

Time: 6 Days
Return: 11.29 % or $140.00


Account Value: $ 6324.00

We have one position IACI open .. and let us refocus our energies on new market parameters due to unprecedented 125 basis cut in rates and that too in such a short time span of less then 10 days.

This additional cut of 50 basis today says the FED knows something that we are not yet privy to. And may be that is why market cud not sustain the after cut run up.

Let us stay awake and watch closely ... with ears and eyes wide open.

Good trading.


Harry

2008 Project MERCEDES ... TRADE # 5, 6, 7 Open

We have 3 open trades for our 2008 Project Mercedes .. 2 opened Friday in our currently favourite security RIMM and one this morning in IACI.

Markets are rallying after the FED emergency 75 basis cut last Tuesday and also awaiting further 50 basis cut tomorrow. FOMC meeting announcement tomorrow with further guidance on FED understanding of markets will move the markets for next couple of days.

FED WATCH is on and we stand by watching our open trades.

Great day for all.

Harry

2008 Project MERCEDES ... TRADE # 3 and 4 Closed

We closed our two trades of 2008 Project Mercedes in the rally and this rally has all the tell tale signs of a BEAR MARKET RALLY. It seems bears have really taken control of the markets.

2008 Project MERCEDES .. TRADE # 3: RIMM

Jan 15, 2008 09:40:22 RIMM Buy Feb 95 Call $ 7.75 .. 8 Contracts
Jan 24, 2008 15:59:51 RIMM Sell Feb 95 Call $ 8.30 .. 8 Contracts

Time: 9 Days
Return: 5.47 % or $206.00

2008 Project MERCEDES .. TRADE # 4: MCD

Jan 16, 2008 15:56:12 MCD Buy Mar 50 Call $ 7.75 .. 4 Contracts
Jan 24, 2008 10:13:12 MCD Sell Mar 50 Call Put $ 8.30 .. 4 Contracts

Time: 8 Days
Return: 15.90 % or $210.00


Account Value: $ 5776.00

We are now flat in the market .. no open positions.

All eyes set on Fed meeting and we will look for other opportunites.

Have a great evening please.


Harry

Again ... MARKET REVERSAL or is it???

Fed emergency rate cut of 75 basis points yesterday and world wide tumble of markets Monday and Tuesday has played on the nerves of everyone ( and their neighbours ) involved in the markets. What a REAL LIFE ROLLER COASTER ride.

$VIX .. spiked to extreme levels even after slashing of 75 basis rates by the fed and hopefully calm waters for few days as now all eyes are focused on FED meeting Jan 29 30.

Our trades, inspite of all the storms and turmoil, are already positive or getting there.

Stay tuned please.

Regards

Harry

2008 Project MERCEDES ... TRADE # 4 Open

Our fourth trade of 2008 Project Mercedes was triggered January 16th and underlying security is MCD.

Markets continued rolling down and nuthin could stop the carnage. Markets are seriously OVERSOLD and everyone is waiting for the pain to stop.

Let us see how the coming week works out and we will seriously watch our trades. Inspite of freefall in overall markets, our underlying stocks RIMM and MCD seem supported by major MVA,s.

Monday is a market holiday and that should help calm the nerves after the option expiry week and as well as refocus on Fed Jan 29-30 meeting on interest rates.

Happy trading.

Harry

MARKET REVERSAL or is it???

Market has dropped a lot yesterday and started lower today ... but looks like a reversal day.

Or is it??

Well ... it sure looks like a reversal day in the making. Our trade stays open and we will not take any new trades for now.

Good day and remember this is OPTION EXPIRY week.

Harry

2008 Project MERCEDES ... TRADE # 3 Open

Good Morning. Markets are down .. opened down and staying down so far. Afternoon may ( or may not ) see change of sentiment and little bit of recovery. As always, we never know what will happen and that is why we have to be focused on RISK and MONEY Management of each and every position. Always use stops and limits .. that is what really keeps us trading.

We have opened our third trade of 2008 Project Mercedes .. and again it happens to be RIMM.

Let us watch our trade.

Harry

2008 Project MERCEDES ... TRADE # 2 Closed

We closed our second trade of 2008 Project Mercedes .. RIMM. This trade was initiated Friday afternoon and closed today, Monday afternoon.

2008 Project MERCEDES .. TRADE # 2: RIMM

Jan 11, 2008 11:41:09 RIMM Buy Feb 95 Call $ 7.75 .. 4 Contracts
Jan 14, 2008 14:39:08 RIMM Sell Feb 95 Put $ 8.30 .. 4 Contracts

Time: 1 Day
Return: 14.19 % or $220.00


Account Value: $ 5360.00

Good day.

Harry

2008 Project MERCEDES ... TRADE # 2 Open

Our second trade of the 2008 Project MERCEDES is RIMM, initiated early afternoon today. More details will be posted only after we close the trade.

Markets are sharply lower today even after supportive statements yesterday from the Fed. Wall Street slump of today revives serious recession fears and are as a result of AmEx profit warning and potential Merrill Lynch writedowns.

2008 has been a rocky start for an election year and volatility is high, giving us wide swings.

Let us enjoy the rocky ride and make the best of swings.

Harry

2008 Project MERCEDES ... TRADE # 1 Closed

NONFARM payroll Number at 18000 rocked the markets and we did not enter any new trades. However, we closed our last trade of 2007 with a marginal 1.58% gain ( enough to pay the commissions ) and that helped us close the year 2007 with all winning trades.

Jan 04, 2008 12:52:30 AMZN Sell Jan 90 Put $2.56 ( Avg )

Time: 9 Days
Return: 1.58% or $4.00 Per contract

Selloff was brutal and all day long and recession worries are revived. Dow tumbled 256 points and NASDAQ plunged 98 points, biggest one day loss since September 17, 2001, the first day the markets opened for trading after having been closed in the aftermath if 9/11.

Let us wait and watch for Monday opening .. exciting times ahead.

Enjoy the weekend.

Harry

2008 Project MERCEDES ... TRADE # 1 Open

Our first trade of the 2008 Project MERCEDES is AMZN, initiated this afternoon and is already profitable, at the time of this posting. Full details will be posted only after we close the trade.

If you would like to get details of the trade as soon as we open or close the trade, please send a request to info@myoptiontrades.com.

This will be a free service for the time being. We would like you to try it absolutely FREE, so that you can satisfy yourself fully about the feasibilty of this project.

Remember, this project is only for your Educational purposes, although we trade real money in our live account. We only use "RISK" money ... money that we can afford to lose without affecting our lifestyle.

Cheers and enjoy the ride along.

Harry


3:40 PM .. Our First trade is closed and here under are full details:

2008 Project MERCEDES .. TRADE # 1: AMZN

Jan 3, 2008 14:15:34 AMZN Buy Feb 90 Put $ 5.25 .. 2 Contracts
Jan 3, 2008 15:33:55 AMZN Sell Feb 90 Put $ 5.85 .. 2 Contracts

Time: 1 Hour 18 Minutes
Return: 11.42 % or $ 120.00


Account Value: $5120.00 ( $5000.00 + $120.00 )

Note:: Commissions are not included for simplicity sake and as they vary from Broker to Broker. Buy Sell option values are exact as executed in our real account.

2008 ... Project MERCEDES

Happy NEW YEAR everyone.

2008 ... We are starting new year with a project and we will call this ..
2008 Project MERCEDES.

We will target and plan our Stock Option Trades with 15% average return expectations and build balance in our trading account so that we can buy a 2008 MERCEDES BENZ.

We will be starting with a balance of $5000 in our account and trade by trade, post our results and that will include contracts traded as well as money made or lost. We will, however, be posting full details of the trade only after we close the trade.

Our 7th AMZN trade is still partially open and we will keep you posted. So far we have all winners starting November 30th, 2007. Let us see how 2008 pans out and as things stand, it is going to be a year of high VOLATILITY and that is exactly what we need for our trades.

Good luck and Happy trading.

Harry