July 08 Performance

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!