Daytrader TOAD's
Daytrader TOAD's
2
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!