Could be worse. I could have lost all money in Chitty, even though it will be close to that. Bummer.. I’m not much in the mood to talk about it. It’s a little painful, knowing that I’m right in some ways but not in the ways that count. Since work has been eating into my time a little more each day, there’s less chance for me to think about my surmounting losses and lessening chance of making money in options. Failure?

Chitty came down a little bit. I’m still no better off than I was last week for my currect positions or account value. I got some interesting comments on my complete failure last week which actually should have ended with me admitting to losing thousands of dollars, but instead I used a cop out and didn’t report my losses to the VO. Ya, its sort of like cheating, but that’s allowed here.

sigh    I’m not sure what to say, not sure what to write. I would go about defending my thoughts on the stock, but that’s not going to help anyone (and by anyone I mean me). I made an error the other day, when I had the opportunity to sell at a profit or nearly breakeven between my Apr08 and May08 puts. I didn’t take advantage of that opportunity and today I lost a lot of money, both in realized and unrealized form. This post isn’t going to be filled with humor and wit, it will be filled with stats and facts and figures, along with some clear reasoning why Citigroup shouldn’t be at $25+ a share. This is all to help me relax and convince myself that my reasoning is correct even if my stock trading is not.

Tomorrow morning will be the time. I’m either going to win or lose on the river tomorrow morning when earnings are announced. It’s sort of exciting and sort of not. I think that if I only had the money in my account left to my name, it would be more exciting. With most days the Chitty stock goes in the general direction of the market, with earnings though it’s not going to matter that GOOG made another $3 trillions dollars this quarter.

Today wasn’t too good for the bears. I don’t know about how the bulls did, probably fantabulous. There were a few good snippets of news and it today’s market, anything not screaming utter failure makes for the a bounce and upward arc. I’m sure that Chitty reporting on Friday will cause an upswing too, just because they didn’t refuse to report earnings.

Time to make a guess at tomorrow’s future, that’s how people make money in the stock market. Guessing. Sure, you can whip out dozens or hundreds of charts and start trying to convince other’s that you know what direction a stock is going in, and barring news that is contrary to your directional guess you might be right. But chances are that you will only be right for a short period of time. I know, because I’m like you.

Chitty went down a little bit today. Not enough for me to start bragging about, but it is getting closer for me breaking even on my April and May puts combined (right now the April’s are still negative, the May’s are positive). This Friday will be a big day for Chitty, or maybe that’s Thursday AH. Whichever one, I’ll be watching the numbers really closely.

I had the opportunity to sell the IWM position earlier today for a profit of $90 which was a welcome change of pace, since I haven’t sold any option contracts before today for the month. There’s been a lot going on in the life of this Retard and soon I might have a way of sharing it more with you. As of today, I can only let you all know that you failed to succeed but succeeded to fail.

C could have finished in the negative, but since the market was up that would be a little much to ask. I’m not going to ask for that much at this time, there’s still another week left before I become demanding and insist Chitty goes down in price. I’m not sure if it will take that long, but it if does I have my spam machine ready to email all the Jews at Smith Barney and Goldman Sachs and other investment firms a bunch of false stories.

Chitty Group is going to sell some debt for less than full value, with the details not yet leaked. Speaking of leaked, what did some people hear about Chitty stealing from LEH in the closing of the market today? LEH stock dropped like Chitty should have. Oh ya, and check out what Yahoo is considering Citi being up today, even though it closed the day down $.18 (I’ll take any down day I can get from Chitty).