I had a little bit of cash left in my account so I bought a call in Citi (C). I’m not thinking that the stock is any better than I previously thought, I just figured that it would probably go up more likely than down in the near term. Wrong! Suck balls.

Being classified as a daytrader with an account balance over $25,000 would be fine. Being classified as a daytrader or a pattern daytrader without that balance gets people on the principals bad list, and you have to clap erasers afterschool or clean gum off from the bottom of lunch tables. Or they freeze your account. Then you make like Lindsey and fall off of trading blogs.

There is something in the air. I can smell it just like my great grandpa Enus can feel when its going to rain in his left knee. The air smells like… Fed. It’s going to be another rate cut, another step in devaluing the American dollar. Another step in helping the immediate stock market, at the expense of the long term market. Bernanke will soon start pouring money from all orifices, and I’m here to collect.

I bought calls in C, but my timing was off just enough that I sold for a loss before watching that I nearly hit the perfect bottom of the day’s trading range on the stock. Or close enough. So I’m going to wait until I have more money in my account or I’ll probably only do daily round-trips when it’s almost a lock that I profit.

I’m not sure how long it’s going to be before I get the email telling me that I’m pattern daytrading without the necessary pattern daytrader account value. It seems that some people don’t have the restrictions that cash accounts come with so maybe I’ll avoid the limitations too (teach me your secrets psychic detective of investing).

I’m thinking to myself, I lost when I bought the put on BIDU, so what if… and that’s where I failed. I wondered em>what if which to me turns into let me try. So I tried and need to make this post quickly, so I can cover my loss.

The DJI and NASD and S&P and Russell 2k and everything else that shouldn’t be up is up today. So I figured since BIDU was down $3-ish, I would take advantage of the situation of it’s lag time and buy a call on it.