BlackRock, Inc. (BLK)

BLK Weekly Chart

BLK has given a sell signal, broke down twice from a rising flag formation. It should break the weekly uptrend channel. Support: 95/80. Bought 2009 Apr PUT.

September 08 Performance

These are the trades that I have closed for the month of September 2008:

1. LEH Oct Put (--): Poor management of position. Cut loss due to the reason that I'm very uncomfortable with any options that has less than 1 month lifetime.
2. CMG Sep Put (+): Just in time of getting myself out of this position as I thought that it will expired worthless. Lucky me.
3. MFC Sep Put (--): Not lucky enough for this one. Almost expired worthless.
4. PTR Sep Put (+): Sudden drop in HK shares. Lucky to make a profit with this one.
5. MET Sep Put (---): Expired worthless.
6. GHL Sep Put (---): Expired worthless.
7. COF Sep Put (---): Expired worthless.
8. SLT Sep Call (---): Expired worthless.
9. GS Oct Put (2+): Too bad I didn't have an Internet connection when GS crashes. Opportunity missed. The profit could have been equivalent to my initial capital. Just too bad.
10. BGC Nov Put (3+): After so many bad trades, just have to take some profit with this one.
11. SINA Dec Put (+): Take profit again because I was nervous about the bailout.

In total, I still manage to edge out a tiny profit for the month of September. My total account position is now above my initial capital (about 60% higher).

Legg Mason (LM)

LM Weekly Chart

Legg Mason (LM) has broken the rising flag. Support 28/25. Bought put.

Lehman (LEH)

LEH Weekly Chart

Lehman (LEH) is still going down. Broken a triangle. Support at 12. Bought put.

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!

Greenhill (GHL)

GHL Weekly Chart

Hmmm...I seems to like playing this type of pattern. Greenhill (GHL) broke down from a 3 years range trading and now challenging the previous support. Bought PUT today as the rebound volume is not strong as compared to yesterday. Hopefully it moves down back quickly.