Thursday, December 4, 2008

November 08 Performance

The reversal from 21 Nov 08 really hit me hard. It erases a big chunk of my open profit. My close positions for this month are:
BYI 09 Jan Put (6+): Close out as it seems that it will stay within the downtrend channel.
CMA 09 Jan Put (1+): Got out of this together with JPM.
GME 09 Jan Put (+/--): Just breaking even with this one. Got nervous with my positions as it rebounds.
JPM 09 Jan Put (3+): Just barely managed to get out with a smaller profit.
MDC 09 Jan Put (--/--): Got two positions but didn't take profit. The rebound was strong. Decided that this is a hard one to play, so cut my losses.
SYK 09 Jan Put (10+/2+): This stock gave me a good profit. Set a new record based on percentage. Close the position as it is very oversold on all time frame.
USB 09 Jan Put (+): Strong rebound, so decided to close this up.

Overall, I'm satisfied with my November 08 performance. Just too bad that I didn't take profit on most of my position.

Looks like I'm heading into a bad December. Most of my puts are not working and I'm scaling down my positions. Biotech and oil themes are not working as I like. My luck may be running out. Time to conserve my capital.

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