Best Buy Co. Inc. (BBY)

BBY Daily Chart

Anticipating BBY breaking down due to poor market sentiment. Supports: 26/17. Bought 2009 Jun PUT.

October 08 Performance

The month of October was a good month for me. As usual, I underestimated the down move, thus I missed out a lot of profits. Options that I have closed are:

• ACE Nov Put (++): From profit to loss to profit. What a roller coaster ride.
  
• ALL Jan Put (6+): Good one! Almost nail the bottom.
• AXB Dec Put (4+): Good one!
  
• AXP Oct Put (-): As expiration nears, I dump this before the great move down! Duh!
• AXP Jan Put (+++): This one is hard to play. So, I'm getting out.
• AUY Oct Call (---): Believed that gold will go higher. Wanted to wait for it to go higher, but the believe didn't have enough time to work out. Expired worthless.
  
• CB Oct Put (+): Glad to get out of this one with a really tiny profit.
  
• COH Nov Put (++): Took profit too early.
• CS Dec Put (6+): Good one! Almost nail the low.
  
• DSX Dec Put (+++): Took an early profit for this.
• EP Oct Call (---): What a believe! Believe that the world is craving for more energy, didn't let go due this believe, so got flattened!
  
• GME Jan Put (++): Took profit due to the fear of a strong rebound.
  
• JWN Oct Put(+): Glad to get out of this one without a loss.
• KSS Oct Put (=): Just glad to get out without a loss for this one.
• LM Nov Put (8+): Fantastic! Could have been better, but I'm satisfied.
  
• LVS Dec Put (7+): Sold at mid-teens. Thought that that was the lowest it can get to. Boy was I wrong!
• MDC Dec Put (++): Took an early profit.
  
• MGM Nov Put (+++): Took profit while it was in the high teens.
• MGM Dec Put (6+): Good one!
  
• OSG Jan Put (4+): Good one!
• PDCO Oct Put (+): Glad to get out of this one as it almost expired worthless.
• RL Oct Put (--): Took a loss due to expiration date.
• V Dec Put (7+): Fantastic! Almost near the low.

I guessed correctly the retailers direction, but my timing was all wrong. Thus, most of my retailers counters was lucky to go into the black.

GameStop (GME)

GME Weekly Chart

GameStop (GME) has broken its rising flag. Support 38/33/26. Bought puts.

August 08 Performance

Simply terrible. I got everything wrong. Gone into negative performance for the month of August.

AKAM Put (2+): Just lucky that it got a big drop after I bought the put.

LULU Put (1+): Sold at the bottom area of the channel. 

GES Put (-): From positive to negative!

TK Put (+): Another lucky trade that got a big drop right after I enter.

GLW Call (---): Expired worthless!

CAT Call (---): Another expired worthless!

STLD Call (---): Another worthless.

It is a tough August for me. Hopefully September will be better.

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!

Retailers Sell Off

My retail stocks start to make me money. At least it compensate my heart ache on LVS. Did two trades today.

KSS Weekly Chart

Kohl's Corporation (KSS) : Looks like it has broken down from the rising flag formation. Possible supports at 32/25. Bought put for KSS.

ACE Weekly Chart

ACE Ltd (ACE): Looks like it has broken down from the rectangular box and also the first uptrend line. Possible supports at 46/45/37. Bought put for ACE.

Watch list for 7 July 2008

My watch list for Monday, 7 July 2008:

• Greenhill (GHL): If breaks 50.00, then support at 37/30.
• Credit Suisse (CS): Support 35/25.
• SVB Financial (SIVB): Support 40/33.
• Nymex (NMX): Support 75, then bottomless.
• Prudential (PRU): Support 54/46/40.
• Manulife (MFC): Support 34/30.
• Couch (COH): Support 25/19.
• Anixter (AXE): Triangle. Support 52/45.
• JCrew (JCG): Support 25.
• Kuhl's (KSS): Support ~41/32.
• JC Penney (JCP): Support ~35-36/26/15.
• Sinopec (SNP): Support 70/50.
• Amazon (AMZN): Support 62/36.

Looking to getting into PUTs.

Jun 08 Performance

Luck still with me. Still managed to read the trend change from up to down. Closed the following positions in the month of June:

1. VLO put (--): Thought that oil will go lower, got fooled into cutting loss.
2. EP call (++): Sold out my nearer term call, then opened a longer term call.
3. MR call (++): Managed to get out at the top. This is the only one that I have perfect exit.
4. QCOM call (+): Didn't get a good price, but I'm still satisfied with the return as it got really volatile during the trend change.
5. HAL call (-): Cut loss on this one too as I thought that oil will get lower. Anyhow, I enter back a position later into the month.
6. BAC put (++++): Cannot resist in taking profit. This is my best ever return so far. Still got 2/3 position left.

For the rest of my call ideas, it looks like they are going to expire worthless: CAT call, GLW call and SLT call. Luckily, the put ideas is enough to compensate for my loss.

A summary of my holdings:

1. Calls: HAL, EP, STLD, CAT, GLW, SLT
2. Puts: ANF, BAC, GES, JWN, LM, LVS, PDCO, PTR

I am still looking to get into a few financial and retail puts.

Guess (GES)

GES Weekly Chart

I'm not sure which pattern that is dominant: ascending triangle or rectangle. Anyway, it seems to have breakdown. That is why I bought GES PUT.

Nordstrom (JWN)

JWN Weekly Chart

Bought the PUT for JWN on Friday because it has broken out of the rectangular consolidation area (between 32 to 39). Next supports at 29/25/18.

Abercrombie (ANF)

ANF Daily Chart

Bought ANF Put after the price drop out of the rectangular box that I have drawn. It should go lower if it is not a false break.