I’m sitting on puts in CMG and JCP.  Both are up over 5% today.  Should I cover and just admit defeat?  I should, but I won’t.  I’m not that smart.  So I’ll probably add more puts somewhere here.  I’ll let you know.

Let me first say that trying to deal with the time difference isn’t so bad, I just have to think about the stock market in terms of being the opposite AM to PM as Hong Kong, then an hour less than what I see on the HK clocks.

I can’t trade much, I’m still waiting for my account change to take place, but I figured that I would try to lose some money in the marke today.  I’ll take JCP puts today.

I’ve decided that there isn’t enough risk with just options, so I’m going to be adding functionality to trade things like futures (DJI, grains, etc…).  This should add some more fun and increase the likelihood that I’ll lose money.

Since I’m just talking to myself mostly (though my co-worker is subjected to my ramblings too) I figured that I would allow a United States quarter to decide my trade.  Yes, I’m really that much of a retard.  I flipped a coin to decide to buy calls or puts, risked about 90% of my account total, and than let Bernanke do the heavy lifting.

I should be holding onto the JCP options for another day, but I’m a little worried that this won’t be a call opportunity but might be a put opportunity.  The stock went up $.40 so I sold with a $360 profit.

Here’s my strategy for this trade.  I will only hold until I make or lose 10% of my trade.  I know that in options the ability to make far greater percentages is possible, and it might be more difficult for me to constrain my profit or loss to that percentage.  Alright, so maybe 20%.

i think i did it again
i made myself believe
my account would go up

I’m definitely leading in the race to $0 thanks to JCPenneys (JCP).  I have absolutely no desire to blog in detail about the horror of it, so I’m not going to. 

Just one daytrade for me today.  It was in Celgene CELG.  When I saw it this morning it was at $43 (-$4.32), so when I saw it over $47 later in the day I figured it was time to buy puts- I went for the December puts that expire tomorrow.  Of course it zoomed up to over $48 after I bought them.