July was the month for those that go up, turned and go down. For those that go down, turned and go up. I was expecting a minor rebound for the financial and retailers, and a minor dip for energy, but the movement was stronger than I like it. A summary of my closing trades for the month of July, 2008:
- BAC Put (10+): This is my best ever return. I don't think that I can repeat this. Close my put because of a bullish engulfing candle at a time when the daily & weekly chart is very oversold.
- LM Put (4+): Close my put because of a bullish engulfing candle that happens at the lower end of the downtrend channel. Additionally, the daily & weekly chart is very oversold.
- LVS Put (4+): Close my put because of a long shadow hammer. Both daily & weekly chart is very oversold too.
- HAL Call (--): Cut loss because HAL weekly MACD is going to drop into negative.
- BAC Call (---): My hedge for my Puts, it could have worked if the strong rebound comes a few days earlier. This one expired worthless.
- ANF Put (++): Only 3 weeks left, tookwhat ever profit that has suddenly presented itself. I hate trading options with less than 1 month lifetime.
Oh boy, in July all my open profit vanished! Darn!
DSX Weekly Chart
SINA Weekly Chart
COF Daily Chart
BGC Weekly Chart
