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
