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3/20/98 12:30

Happy Birthday Little Toad!
I've been looking at the market this morning and there were a couple of plays to make today, but I didn't want to get tied up watching when we have birthday cake to eat! I'm still flat and I'm going to stay out of the pond until Monday. If you want to take a day off, options expiration day is a good day to do it. We made $4000 this week (before commissions) by only going for 1/2's - not getting greedy, just hop in get 1/2 and hop back out. Trade like a toad.

You all have a great weekend and I'll see you at the market on Monday. 


3/19/98 15:50
OK! Sold the Mar515c (OEWCC) at 4 1/2 - I'm out of the pond. I'm flat and I don't think I'll do any trades tomorrow. Combination of OPTIONS EXPIRATION DAY and little Toad's birthday tomorrow - think we will get under a nice warm toad stool and just enjoy the day by the pond. Just a small get together, no other pond creatures.
Might post in the AM after market opens, might trade if I see a real quick one. Good trading to you all.
Historical Fact: The swallows return to San Juan Capistrano each year to celebrate Little Toad's birthday. 
3/19/98 13:10

I hopped back into the Mar515c (OEWCC), this time at 4. I have a sell order in for 1/2. TRIN is neutral and Tick is bouncing - let's have that sucker bounce up! 
3/19/98 10:30

The market went up, the market went down - I'm still flat. Going to stay that way until it settles out some. Tick was +700 right after open then down to -200 now. TRIN still in buy mode, lets see how it develops today. 
3/18/98 15:00

Hopped out of the Mar515c (OEWCC) with my 1/2. It was touch and go for awhile, it peaked at 3 1/2 and took 3 hours to get back. I was down 3/4 at the lowest point. Thought about pulling the plug, or lowering my sell to 3 1/2. Would have hopped out at close of business today because this is OPTIONS EXPIRATION WEEK! So...if I hadn't chased them with my market order, I could have made more??? No complaints, I'm out and I'm flat.

To the reader that suggested "flat" was equivalent to a "road toad" - NO IT ISN'T. I lost a dear cousin that way. It was a dark and dreary night and he was minding his business, just hopping along down the middle of the road and WHAM! 


3/18/98 10:55
Hopped into the Mar515c (OEWCC), this time I caught them with a market order. Have a 1/2 on it to get out. Let's go.... 
3/17/98 16:40

I think the green coffee made me sluggish today or it could have been options expiration week; I try to play more conservative during expiration week. Most of the day the indicators were telling me to stay out. The market started to move after 3 pm and I put an order in for the Mar510c (OEWCB) - it was a limit order around 15:30 at 5 1/4. The market blew past me and I was too stubborn to change it to a market order; I should use them more often, but I've been burned. Well, the Toad was too smart to buy it at 5 1/2 - they went up to 6 5/8 by close of options today. Still flat and 100% in cash.
Woulda, coulda, shoulda. waaaaaaaa 
3/17/98 10:00

ITS THE WEARING OF THE GREEN - HAPPY TOAD DAY!
Glad we got out of the positions last night. Everyone predicted the market was going to bounce up 20 points on open - guess what, we are down almost 1 OEX point at 10:00. No good signals yet; lets sit here drink our green coffee, eat our green bagels and watch for awhile.
St. Toads Day - has a nice ring to it. 
3/16/98 14:35

Got tired of watching the market so I hopped back into the Mar505c (OEWCA), this time at $9 with a 1/2 point sell order. Then I opened up another position, the Mar510c (OEWCB) - had both of them for about 10 minutes. The OEWCA's went about an hour after I bought them. Market backed off after I bought the Mar510c (OEWCB), so I thought I'd be holding overnight. While I was doing this write up, they hit my sell order of 6. So, I'm high and dry overnight. Makes you wanna go ribbit! 
3/16/98 12:30

Hope you had a good weekend. I've been looking all morning and all I caught was a fly. Tick jumping around and TRIN says wait - it has been moving toward da bear all morning. Not real excited about anything I've seen yet today.
The popular Mar505c (OEWCA) jumped up at open and has been hovering around 8 1/8 to 8 1/4 most of the morning. 
3/13/98 17:35

Did you notice the calls I sold at $8 hit a high of $9, left $2000 on the table.  But they did net $1640 - I'll take it.  Never hopped into another position; just when I felt it was safe to get back in the water, the market lost all of it's upside.  By 10:30 the OEX was flat and headed back up, then, at 11:00 the downward spiral started.  That was when I decided: on Fridays the market goes up, the market goes down.  The Toad is still flat - let's call this a week and stay dry over the weekend.

See you around the pond; I'm high and dry and a lot lighter after this week.  Can I blame this on El Nino? 


3/13/98 9:51
Last night, after looking at the overnight Globex prices, (you can see them at
http://www.cme.com/cgi-bin/gflash.cgi ) , I raised my sell order on the Mar505c (OEWCA)to $8.  They sold at 9:35 this morning!  I might get back in, I'm still making up for the red from that put.  Doesn't the market go up on Fridays? 
3/12/98 16:36

WOW, did I do that?  After I bought them, my calls dropped to $6; they closed with the last trade back at 7 1/8.  There is always tomorrow - Oops, the second Friday the 13th in two months.  Doesn't the market go up on Fridays???  See you in the morning.

NCAA playoffs today and my team is playing! 


3/12/98 15:10
Didn't I just hop out of these suckers?  I hopped back into the Mar505c (OEWCA) at 7 1/8 and have a 7 5/8 sell order in.  After I bought, they dropped to 6 1/2.  The indicators say it still wants to go higher - let's sell this today. 
3/12/98 11:00

My $7 sell order on the Mar505c (OEWCA) hit right before 10:00 which was right before the market sold off and dropped 3 OEX points.  Feels good - flat again and looking.  Now if I can just get this red cleaned up... 
3/11/98 15:40

The Mar505c (OEWCA) dropped again and I bought more at 6 1/4, now my cost on the position is 6 1/2 and I have a $7 sell order.  This should sell today (maybe.) I read something last week about increasing your position to make up for losses; I thought it sounded dumb and I didn't like it when I read it - guess what I've been doing this week.  Just checked the price and it is hanging around 6 7/8! 
3/11/98 12:40

Dive, dive, dive.  The Mar500p (OEWOT) croaked today.  With the market running up, I dumped the put that has been hanging around giving me nighmares.  Had to get out of the water, there was a big red area around me, I think something is bleeding.  Stopped the bleeding at a BIG loss (don't ever let it get that big!)

My $7 sell order hit on the calls and I made $1245 on that play.  During the lunch-time sell off, I hopped back into the Mar505c (OEWCA) at 6 3/4 with a 7 1/4 sell order.  Have to stay awake and make up the loss this week!  The tadpoles need food. 


3/10/98 16:55
I doubled my position on the calls to lower my cost, I could have hopped out of the call I bought today with a profit of 1 1/8 when the OEWCA's hit 6 3/8.  I still would have a loss of $1 on the old ones, that would give the Toad an 1/8 gain, I think we can do better, so.... I'm still holding - OVERNIGHT.  This is getting old, I think I've moved into a long-term investment with the PUT!  (It's starting to look like a loss and the Toad doesn't like red.)

For those of you that have asked, I'm going to put up a Toad weather window soon. 


3/10/98 15:15
I think I double downed!  Bought some more of the Mar505c (OEWCA) at 5 1/4 which puts my average cost at 6 5/16.  Changed my sell order to 7 - the way the market is running, I don't know if I really want to get out yet.  What was that?  "Don't get greedy!"
Let's see what happens today. 
3/9/98 15:14

The Mar495p (OEXOS) hit my sell order at 3 3/4 and I hopped out; it continued up above $4.00, but remember "Don't get greedy."  How about getting out of the spread now!  I have $19 1/8 in the spread and it's worth about $11 now.  Another good reason not to be in overnight.  What's it gonna do??? 
3/9/98 14:20

Hopped into another PUT!  Saw the market tanking, started right before noon when the lunchtime crowd started trading - bought the Mar495p (OEXOS) for 3 1/4, have a sell order in trying to get 1/2.  Will let you know when it sells.

Yes, I still have everything else.  May have to run a special on the spread! 


Past performance is no guarantee of future returns.


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