Monday, December 31, 2012

Thursday, December 27, 2012

Short PQ Jan 19 '13 $4 Put @ $0.05...


Dying to buy, so hoping someone assigns me...

This would get me in at $3.95 per share...



Monday, December 24, 2012

Summary of Recent Trading...


I was so psyched to discover the beauty of short puts - totally thought they were the best thing since 9FM.  I started the month by anticipating four figure gains if all the put options I shorted were to expire.  I now have Level III trading capabilities on my Roth IRA and Level II on my regular brokerage account.  

I was able to close out two short put positions on substantial gains before expiry:

JRCC @ $0.30 gain on $2.50 put = +12% gross
TC @ $0.90 on $4 put = +22.5% gross


Only one position expired with gains:

ALXA @ $0.50 gain on $4 put = +12.5% gross


Two positions with early assignments were closed out @ market with losses more or less equal to commissions plus a few cents per share here or there:

ZQK 
GGS


Two assignments on expiry, unfortunately leading to substantial unrealised losses in my portfolio, which I'll attempt to fix with covered calls:

FOLD @ unrealised -43%
DRYS @ unrealised -9%



Stock Trades:

Long BAC (closed out partial position @ +$1.1233 per share or +11.86% gross)
Long AMD @ unrealised +15% gain
Long PES (closed out two positions @ aggregate per share gain of $0.8086)
Long PKD @ unrealised -2%
Long CENX from way back in 2011 @ unrealised -26%
Long HWD from way back  in 2011 @ unrealised -9%
Long MFG ditto @ unrealised -9%
Long NMR ditto @ unrealised -8%


In the process, my cash balances grew and my portfolio value became respectable, especially my Roth IRA.  

October to December 2012 growth @ +18.7% on Roth IRA - partially due to an up-trending market and partially due to my own efforts...

I'm excited about trading again, but I'm also worried about how I'll grow my portfolio next year.  

If Santa is hearing this, I'm wishing for sustainable market strategies that will allow me to make more money on less risk and even if I get stuck in a losing position, I'll trade myself out with financial dignity...

Merry Christmas, Professors of Finance - especially the Masters of the Universe ones with dark-framed glasses...




Ooops I Did It Again: Selling DRYS Jan 19 '13 $2 Call @ $0.03...


No typo... I did it again...

Turns out the first time was the right time...



Uh Oh... Made Another Dumb Mistake... Closed Out DRYS Jan 19 '13 $2 Call @ $0.04...


Thank God I realised in time...


Short DRYS Jan 19 '13 $2 Call @ $0.03...


Effective gross selling price of $2.03 to offset my assignment price of $1.8277 if I get called...


Assignments: FOLD'ed & DRYS...


Not too happy about that, but will attempt to sell calls on these two until I can get out with some semblance of financial dignity...



Thursday, December 20, 2012

FOLD Fiasco Update: Not Assigned Yet, Cancelled 'Buy Close'...


There's no way my 'buy close' @ $0.35 will be executed as it's now trading at $1.65...  I definitely won't be going out via the options route.

Luckily, I haven't been assigned yet and the underlying security price is at around $3.14, down about -45.58%.  In options terms, the loss is far greater at over -420%...

I'm waiting to get assigned and will plot my exit when the time comes.


FOLD Extended Hours Trading: ForexDiva Got Run Over By A Reindeer?


No?  -
50.43% in Extended Hours Trading??

Straight from Dow Jones: "Amicus Therapeutics shares fell after the company said a late-stage study of its lead drug candidate, migalastat HCI, intended to treat the rare disease Fabry, didn't meet its primary goal, dashing hopes for a near-term approval by U.S. regulators. The stock was down 52% to $2.76 in after-hours trading."


Placed a 'buy close' order @ $0.35, but don't know if I'll get executed tomorrow.




Wednesday, December 19, 2012

Short FOLD Dec 22 '12 $5 Put @ $0.30...


Hoping it will expire worthless... 


Current market price circa $5.70...


If I get assigned, my purchase price would be $4.70.


If options expire, premium collection would be 6% ROI on locked up capital.



P.S. Ascending triangle formation on 5-day chart...



Tuesday, December 18, 2012

Out of Some BAC @ Market = $10.59...


Took profit on most recent lot purchase, netting a little more than a $1 per share...

P.S. Don't know what happened to this post, but it was stuck in my drafts folder.  I took profit a few days ago @ $10.59 (unfortunately!)...





Short GGS Dec 22 '12 $5 Put @ $1.00...


P/S well below 1 on a relatively profitable oil & gas services company...

If I get assigned, I'm buying in at an effective share price of $4...




Dear Santa: Closed Out TC Put @ $0.15...


Net profit of $0.90...

Again, would have made more money with a long stock position, but the beauty of options is you get the money upfront.

In a margin account, this would increase your buying power, but I'm not buying on margin, so it doesn't affect me.



Wednesday, December 12, 2012

Bernanke: Fed may buy more bonds if no cliff deal

Missed Out on HERO Runup, So Into PKD @ $4.45...


PKD has more revenues than HERO and is losing less money.

P/S and P/B both below 1...

News announcement today that it just began drilling in the Arctic with first of two arctic Alaska drilling units, which indicates sales growth potential...



OMG, Bernanke: 0% Interest Rates Until 6.5% Unemployment Rate Or 2.5% Inflation...


Fed sets jobless, inflation targets...

Monthly NFPs have averaged 170,000 over the past twelve months and we saw about a 1% dip in unemployment during this time, which means we need to create another 2.04 million jobs to reach the Fed's 6.5% unemployment rate target.  

With GDP growth expected to dip to 1.9%, could we see another 12 months of 0% interest rates - or will this story extend into 2014 and beyond?

Full FOMC Statement...



Friday, December 7, 2012

That Was No Bearish Divergence, Market Buddies!


ZQK ended the day +4.74% and about $0.14 above my exit.  In hindsight, I could have converted my open position in ZQK to a covered call.

If I get assigned again, I'm most likely going to implement a covered call as my exit strategy.


Out of ZQK @ $4.0615...


MACD bearish divergence on the 1-minute and 15-minute charts...


My First Assignment: ZQK @ Effective Price $4.1076...


That was 'Quick'...

Earnings announcement is 13 December 2012 rather than 10 December 2012...



Thursday, December 6, 2012

Short ZQK Dec 22 '12 $5 Put @ $0.95...


Earnings announcement on 10 December 2012... started at neutral by GS...

P/S well below 1 + high beta...



Friday, November 30, 2012

Short TC December 22 '12 $4.00 Put @ $1.05


Ascending triangle formation on 3-month chart...

Like the high beta and low P/B as well...


Closed Out JRCC December 22 '12 Put @ $0.05...


In hindsight, had I just purchased JRCC shares, I would have made more than $1.40 per share from the time I shorted the $2.50 puts till today vs. the net premium of $0.30 I was able to collect on this options trade.  But I do like the novelty of options trading!  

I'm looking for another options play on JRCC - perhaps a short call...


Wednesday, November 21, 2012

Hey Ya, DJIA...


Ever since I got displaced by Hurricane Sandy, I've had CNBC running in the background day and night.  Last Friday, I discovered a show called OptionsAction, which is the main reason for my foray into options trading.  Going naked and doing long straddles?  What's not to love about options trading, right?

My JRCC short put is a bullish strategy I implemented the first trading day I was approved for Level II trading and if it works out and JRCC market prices continue to trend upwards, I have basically just locked in a 14% gross monthly gain for a few minutes' work: $0.35 premium divided by $2.50 strike price = 14%...  It's kind of like putting money away in a high-yield CD for a month if this scenario plays out.

If price trends downwards and closes below $2.50 at expiration, I'm obligated to buy @ $2.50, which would put me in a long JRCC position at an entry price of $2.15: $2.50 strike price minus $0.35 premium = $2.15 cost to me.  

With VIX at 15.26 - even lower than Lehman levels, I'm thinking we stand a good chance of seeing a spike higher on some of the year's most battered stocks - including stocks that are correlated with economic conditions in China.  

Annual 50% Fib level on JRCC is $5.175 and with tonnes of data coming out from China over the next month plus the unpleasant discussion on The Fiscal Cliff in the US, we may test higher levels again.  

I chose a $2.50 strike price as the premium of 14% was a lot higher than the premium on the $2.00 strike price of 5%.  

Rumour has it that 90% of options expire, so if I can find high probability short term puts to short, this could maybe, sort of, end up being highly lucrative in a 9FM, I really miss you sort of way.  

I'm still trying to figure it out, but could shorting long term calls make sense if a company appears on the verge of bankruptcy?  

Hmmm...



Friday, October 26, 2012

Into PES @ $6.63...


This used to be known as PDC (Pioneer Drilling Corporation) and I traded it last year...

Earnings announcement on 1 November 2012.

P/B and P/S both below 1 and is also trading about -40% off its annual highs.



Monday, October 22, 2012

Into Some ATML @ $4.68...


Placed it in the Roth IRA for some potential earnings announcement fun...

Let's see if it can close above this level as it is the 50% daily Fib level...

Like the balance sheet as the company has zero debt and a relatively high beta.

Wish me luck, HSFTs!



Into AMD @ $2.13...


I'm kind of going in blindly here, but it looks like the rate of decline is slowing down, or so I'm hoping...

Who knows?  I could be in this one for six months too!




Out of Some JRCC @ $5.2318...


It's been rallying like mad over the past few days and since a partial lot broke even with a minor profit after nearly six months, I partially exited my favourite stock in the whole wide world - JRCC, the only tree in the forest for me...

Still got a partial lot for when Romney gets voted into office!  

If he wins, one thing's for certain... did he mention he likes coal stocks?



Thursday, September 13, 2012

I've Been Waiting Over A Year For This...


Bernanke, we worshipped you - and now, we're even going to do it more!!


P.S. Straight from Yahoo Finance: "The Fed essentially announced that it will be purchasing $40 billion in MBS per month until further notice."

P.P.S. Interest rates will be kept between 0% and 0.25% until mid-2015...

Anyone else swooning yet?



Monday, August 13, 2012

Good Goin': Mitt Romney Would Pay 0.82% Taxes Under Paul Ryan's Plan


I'll be the first to admit that I should be working my assets off right now instead of blahing - especially since Network Solutions had a massive DDOS-induced shutdown over the weekend, resulting in zero email for me for several hours.  So sadly, even if I wanted to, I couldn't work this weekend, but luckily, the man I had been waiting on over the past two weeks to give me a financial lifeline finally wrote back to me this morning - and even more luckily, I received his email.  So right now, I should really be thinking about creating a compelling proposal to send to him.


But when I hear the word "tax," my ears perk up and it's a debate I don't want to miss.


So what's this about Mitt Romney being able to pay 0.82% taxes under Paul Ryan's smokin' hot plan and how the poor will get poorer?    


Social security always seems to get thrown into the mix in such a debate and what everyone seems to overlook is that social security has historically been, and still is, a self-funding programme.  Check out Line 3 of this Wikipedia article on the Social Security Debate and I'll quote it word for word: "During 2011, total benefits of $736 billion were paid out versus income (taxes and interest) of $805 billion, a $69 billion annual surplus. An estimated 158 million people paid into the program and 55 million received benefits, roughly 2.87 workers per beneficiary."


The problem is not the taxation bit, but the expenditure bit.  Line 9 of aforementioned article: "
Further, the government has borrowed and spent the accumulated surplus funds, called the Social Security Trust Fund."  

Ooops... so that's what going over the budget "line by line" gets you!



Friday, August 10, 2012

Honey, I Sold EATR!


Remember EATR from my "penny stocks will definitely make me rich" days?  

Well, I've finally sold it for $0.0002 per share!

Woohoo for a two figure net profit and getting rid of dead wood...



Monday, August 6, 2012

Holey Moley... Scary & Hairy!


Seriously OMG... Last night, while I was grilling up some Pat LaFrieda sliders, I saw a small mouse crawl out from under the dishwasher and attempt my way.  It came within inches of me when I yelped and it went sprinting back underneath the dishwasher.  Eeewww... After steam cleaning the floor hundreds of times, I decided to look under the dishwasher - only to discover a crevice about an inch high.  

Thoughts of the mouse being able to return any time it wanted made me scheme up a temporary solution.  Two pieces of cardboard and yards of 3M clear shipping tape later, I feel just a tiny bit safer.  

I'm far away from Park Avenue, but for the rent I'm paying, this shouldn't be happening.

This made me think of all the crevices in my financial plan - and right now, my trading is one of them and living in NYC could be another.  I'm even contemplating moving back to Belgium, but that would be too expensive to do now that I've got all this furniture from Neiman Marcus / Horchow.  I read something somewhere a while back that one needs to start closing out financial leaks before security becomes an attainable and sustainable thing.  

A little more than two months ago, my sister announced that she was buying a second house and to make a long story short, my Dad had given me a pre-emptive warning that she was not allowed to pay me back for the downpayment I contributed to the first house, which is only under her name.  If like truly attracts like, then am I being too mousy?  The answer could be a resounding yelp of a yes and now I'm going to have to be semi-Republcian and stand up for my financial rights.   

I haven't attended two family gatherings already and am quietly building up evidence to force my sister to repay me - legally and ethically.  

I've been working 12-16 hour days for over two months now and although I have over 175 strategic partners and counting, financially, it doesn't show.  Yet something really beautiful and creative is starting to emerge and if I can get through these next few months, this could be the start of something very amazing indeed.  

Dare I dream?  If Romney gets voted in, we all have everything to hope for...




Friday, July 27, 2012

Is It Time To Be Double Down Diva?



Stockpile Drawdown Signals Strong Coal Rebound...


Whatever it is, don't count me in so easily.  After that MF Disaster, I'm not so keen on trading bankruptcies...


On the other hand, can somebody help me with my wardrobe malfunction?  Preferably 9FM...





Friday, June 29, 2012

It's A Bird, It's A Plane, It's Nosedive Diva...



Nasdaq ended up +3.00% and JRCC still dropped -5.24%...


I've got to find a new game!


Maybe I should become a short seller?





Tuesday, May 29, 2012

From Sea To Shining JRCC



The smart ones got out at $8 something...


The bimbo ones averaged in again at $4 something after selling at $6 something...


Thank the Lord JRCC sells metallurgical coal, but I'm keeping the cash in my Roth IRA uninvested for now...


Bwahahaha spooooooky...


Thursday, May 17, 2012

If I Told You Who I Met On Tuesday...



... you wouldn't believe me!  It's hard to believe myself, but I had a brief meeting with a legendary investor.  


Still a bit in shock and when he told me to go into an annual meeting, I literally froze at the fear of having to present my proposal to him on stage or something.


Thankfully that didn't happen, but at least a connection was forged and in the biggest OMG way, he gave me his mobile number...





Mid-Knife Crisis



I definitely got filet mignon'ed on this JRCC trade.


The question is: will the bears take profit in May and go away too?  


I'm digging in my heels and still waiting for Chinese data to save me next week - not that it's likely, but I'll save it for the Confessional Booth.  





Thursday, May 10, 2012

JRCC (Again)...



Yesterday's bullish close on JRCC did not see any followthrough in trading momentum today and we closed both below yesterday's close and below the 50% daily Fib level - admittedly bearish signs.


PPI and Preliminary University of Michigan Consumer Sentiment are both tomorrow.  After that, no major news from the US until Tuesday, when we have Retail Sales and TIC Long Term Purchases, which means that the press will most likely be whining about European woes again...


We need good news from China or India to spin JRCC around, but the first major news release concerning China manufacturing doesn't occur until at least 23 May 2012!


One of the coal sector's major players, BTU is already trading at P/S below 1.  I'm keeping an eye on the $27-28 level on BTU to see what it does as it is nearing its 52WL.  If it holds, I'm going to think about averaging in to JRCC again in anticipation of a potential long term turnaround - something I have been wishing for for 6 long months.



Wednesday, May 9, 2012

Three Letters: OMG



You've got to be kidding me?  JRCC bounced around like a 10-year old brat today, knifing from $3.60 all the way to $4.29 and settling in at the $4.17 spot way above its 50% daily Fib level.


Money Flow looks about ready to explode to the upside on the 10-day 15-minute charts with strong support from volume.  


Are we finally going to reverse this MF Global bankruptcy induced commodities downtrend?  


Are we going to all be shouting "JRCC, take us up to $23" from rooftops all across America soon?


Who knows?  For now, the bulls are in control on JRCC, posting a +11.14% daily gain.


Tuesday, May 8, 2012

Throw Me In the Confessional Booth!



So this is what it feels like to be killed, knifed right in the back and then the market bottom.  


JRCC put in several days of losing streaks, but finally managed to close one cent above its 50% daily Fib level today.


I'm hanging onto a tree at the moment, one S&P or Moody's downgrade away from being excommunicated from the trading world.


This is what happens when you succumb to trading temptation against all logic...


For now, I'm alive, but very barely...  I'm praying my dear 9FM will have some trading fun in mind!









Thursday, May 3, 2012

A Girl Can Really Lose Her Glasses Trading JRCC...



Good news: JRCC revenues beat expectations.


Bad news: Loss per share widened some more, causing more financial casualties for my portfolio.


If you like opacity, they're going to stop issuing capex guidance, which could swing in their favour.  I've been accused of being shady one too many times not to admit I like the shadowy depths of an opaque market and the uncertainty it harnesses.  It's so FBI investigation.   


I'm wondering why S&P hasn't downgraded JRCC some more.  That would be the final nail in the coffin and a moment of such great pain signals a potential reversal of a long term trend.  This thing has been in a solid downwards slope for 5 years, breaking below the post-Lehman low by a good margin.


This time, I'm not throwing in the towel...  At least not yet!


But people will probably want to throw me in the Confessional Booth if it doesn't break above its 3 month trend in the deepest most contrarian way.  The one-year chart is already starting to look a little flatter with a shocking 55.1% of shares short.  







Wednesday, May 2, 2012

Took My Glasses Off @ $4.6593 And Jumped Into More JRCC...

Yes, I did!


And you heard it first...  But it's a smaller lot and given current prices, it's a risk I decided to take.


Earnings announcement tomorrow and I really couldn't resist bumping into this JRCC glass door one more time to see if the motion sensor will finally let me in to the doorway of profits.









Wednesday, April 25, 2012

Took Off the Glencore Traders' Glasses @ $8.91...



Woo hoo, HSFTs!


+$0.6907 per share, or +8.4% gross.


Finally, after a string of losses...


Today's a big day with Bernanke set to take the stage with some economic forecasts.  Don't know what he'll say, so even though I may miss out on some more upside, I'm taking profit on this partial lot.


Yes - I've still got that lot from November!

Monday, April 23, 2012

Burned By James River Coral Company @ $4.4607...



I knew I shouldn't have done it, but I did it anyway.


Still in that awful, bigoted lot from November 2011...


Loss of $0.1692 per share, or -3.65% gross on this lot.


Someone stop me from banging my head against the JRCC wall.







Friday, April 20, 2012

Into More JRCC @ $4.63...


We have a few weeks till earnings announcement, but I'm going to take one more chance with this thing before I call it quits...



Wednesday, April 18, 2012

OMG, HSFTs! It's Lehman Payout Party Time...


... and I just got my invitation!

I noticed a First Distribution payment from Lehman in my Roth IRA. It wasn't a lot, but at least I'm a part of this historic event.

I wonder how many more distributions I'll get - or if this is it?

In hindsight, one thing I could have done, which I didn't do, was to research the CUSIPs Professor Paulson was in and then try to get in the same ones. After all, it was open knowledge that The Professor was in this trade. I was a typical business school student and didn't utilise this knowledge and apply it to the real world here.

There's always a next time...

For now, I'm very excited!



Yoo Hoo CENX @ $8.2193...


Hello again, Glencore Traders...


Tuesday, April 17, 2012

Out of CENX @ $8.53


+$0.4207 per share, or +5.18% gross...

Will try to re-enter again at original entry...



Monday, April 16, 2012

Into More CENX @ $8.1093...


Earnings announcement for CENX expected on 25 April 2012...


Out of KWK @ $4.0707...


My quickie with QuickSilver Resources did not have a happy ending.

-$0.9486 per share, or -18.89% gross.

Gross is right!



Friday, April 13, 2012

Audit This!


Last weekend, my family got together to celebrate my brother's birthday and I ended up spilling the beans on my deductible expenses. Everyone in the room counted those magic beans and literally accused me of being shady for deducting my rent since they thought I took a home office deduction, which has limitations.

No! I complied with Section 119 of the Internal Revenue Code, which states that all meals and lodging provided on company premises are considered exempt from individual income tax if they are provided for the convenience of the employer as a condition of employment and this and that. I think all legitimate day traders can arguably take this deduction too.

What's up with people being able to claim hobby expenses as legitimate business deductions and then turning around and calling the Fraidy Cat black?




Lehman Payout Party Time Update


Apparently, some of my CUSIPs are considered Class 10B, which means we're at the back of the bus and need to wait for all the other bondholders to collect their fare before we can claim ours - if any.

I'm secretly - evilly - hoping some senior bondholders didn't get the memo that they have to return some IRS and OFAC forms in order to claim their distributions.

I've still got two issues that may be alive though and one is even ticking up slightly...



Thursday, April 12, 2012

Out of GLCNF @ $6.46...


Loss of $0.24 per share, or -3.58% gross...

Glencore Traders, we'll meet again!



Thursday, April 5, 2012

Priority Seating For the 1%...


Plopped right down on the throne yesterday... Good marketing, Occupy Wall Street! Even I'm impressed...






My Uncle Sam...


It's tax season and the only thing I have going for me is that I didn't get hit with a major tax bill this year. Uncle Sam has been kind! But tax planning had a lot to do with it. It's better to be a corporation than an individual as far as US tax minimisation is concerned. My trips to Hong Kong last year (and Switzerland this year)? Both tax deductible! Rent? Meals? Furniture? Apple Computer? The 1120S took care of it all. From what I've read, once my business income starts exceeding my expenses, I will need to seriously think about becoming a C Corporation. And I hope it'll be this year! I've been doing a tonne of work, distributing over 50 brochures over the past month and even doing an office meeting. The way I see it, all of this has to pay off soon!

Admittedly, trading hasn't been doing it for me this year. In Q1, I ended up banking 26.99% of the profits I made in 2011. That's not too bad, but it would have been better if my profits from 2011 had been higher. I've also been hit with several retracements lately - some from as far back as November 2011. I've got to decide on an exit strategy as May is just around the corner and people are hitting the exits already.

I'm still in:

BAC (SBA + Roth IRA)
CENX
EATR
GLCNF
HWD
IDGG
JRCC
KWK
MFG
MFGLQ
NMR


When is Lehman Payout Party Time - and am I in or out?



Wednesday, April 4, 2012

Alpha Bet Soup: Into KWK @ $5.0193...


If I got faked out on JRCC, this might help alleviate the embarrassment just a little!


Out of JRCC @ $4.99...


Just when I thought my Catholicism has finally paid off, I get $4.99'ed by JRCC.

-$0.21 per share, or -4% gross.

Will look to other stocks on my short list for $10 and under plays!


Monday, April 2, 2012

Out of JRCC @ $5.3307...


If there's one thing I don't like to see, it's fractional pricing, which seems to suggest weakness.

Gain of $0.2214 per share, or +4.33% gross.

An ascending triangle seems to be forming though, so if it hits circa $5.10 again, I'm going to buy again at my original entry... Setting the order right now!






Wednesday, March 28, 2012

Bernanke Likes It Rough?


OK, that didn't come out right!





It's Like I'm A Desert Nomad Who Has Just Discovered...


... a mirage!

Remember our friend, VIX? Check out the 3-month correlation between VIX and JRCC - pretty close if you ask me.

So if VIX pops, do we also see a JRCC jump?

So close - yet so far away as JRCC did not manage to close above its daily 50% Fib level, which means the potential for further downside still exists. Perhaps I should have waited? But you know I love jumping on treasure trunks...




Coal Play


... Or could that turn into a 3-month inverse H&S on JRCC?

You know you're delusional when you start imagining trends three months into the future...



Into More JRCC @ $5.1093...


Yep...

P.S. Hoping this will turn into a 5-day W market bottom...



Thursday, March 22, 2012

More Scandal Than I Can Handle...


Naughty, naughty!




Holy Schadenfreude...


What the sell? I'm in financial pain, HSFTs... wishing I hadn't bought PDC and wishing I wasn't still in JRCC. I'm sure the bears are enjoying a round of schadenfreude on me - particularly the ones at S&P, who downgraded JRCC to junk today.

It's my one year financial anniversary with 9FM too - the day his first email popped into my inbox and we both had a tiny glimmer of the open outcry trading ecstasy that later ensued.

Rather than averaging in to JRCC now, I'm going to do some more research over the weekend for some stocks trading around JRCC's current price of $5.49. I'll try not to get into any more commodity plays. After several months of getting beat up by the market makers, I'm ready for a new game!



Monday, March 19, 2012

Into PDC @ $9.1393...


One of the few stocks that I traded last year that is still relatively close to my original entry level with P/B and P/S both near enough to 1.

Earnings announcement in early May and in most recent quarter, beat on revenues...



Partial Exit From BAC @ $9.9615...


This is from the SBA lot that I placed in August 2011 @ $9.7993.

It's almost not worth mentioning, but in case the market retraces, I've at least got some extra ammunition to fight back with the biggest losers in my portfolio - JRCC and CENX.




Thursday, March 15, 2012

OMG! I Might Have An In...


... to the Lehman Payout Party!

I think my claim may have been filed under the Bank of New York Mellon As Indenture Trustee heading and I looked up some of my CUSIPs (52408R44, 5249087M6, 524908UB4, 524908R36) in escrow and sure enough, I see approximately $6.23 billion in allowed claims!

OMG! OMG! Hold my hand...

What am I going to wear??



No, No...


My dreams of another 5 figures have been dashed - for the time being at least!

I checked the Lehman bankruptcy docket and apparently, I haven't got any claims on the bonds that have been placed in escrow. However, there may be a glimmer of hope with my two open positions - namely issues 524908BF6 and 52517PNZ0. If so, there will be at least 4 figures in it for me.

I guess it's back to work for me after nearly a grueling week in Switzerland. I launched two major initiatives on my business development trip to the Land of Tall European Men this time, with another two in the oven.

I had a two hour round trip commute everyday during my stay there and I've become very grumpy as a result. But 9FM made it all better when we international texted one another and he sent me a smiley face.

I met 35 people in 4 working days and now it's time to follow up and close some deals!



Diva's World: Lehman Payout Party Time!


So I noticed some of my Lehman bond issues have been placed in escrow and there are just two issues that are still considered open positions and they are both in my Roth IRA.

We're supposed to be receiving less than 50 cents on the dollar according to The New York Times or more precisely, 21.1 cents on the dollar according to FT.com, but my Distress Investing: Principles & Techniques book doesn't mention anything about escrow bonds.

So what happens next? I know the payouts could come as early as April. Either way, if I'm getting a minimum of 21.1 cents on the dollar for the bonds in escrow or the open positions, I'll be happy.

My only hope is that I'm still invited to the Lehman Payout Party - THE $65 billion event of the year. There are still some prime assets left in the Lehman Estate, so I wonder what will become of these assets following the payout? I don't feel like I'm getting the maximum return since the Archstone battle could result in additional cash for creditors.

P.S. With the 21.1 cents on the dollar payout, my estimated payout will be 5 figures for the bonds in escrow and four figures for the open position bonds. So it makes a big difference which bonds are getting the payout - or perhaps even both if I get really quote unquote lucky?



Yesterday, My Dad Was Asking Me Whether BAC...


... is at $9 already? I said not yet, but I sold some already and I was really ticked off because I've been waiting for a year for it to go up and it kept ranging.

Then he asked if I still had any shares. When I said yes, he joked that if I still have any shares, it won't skyrocket until after I've sold them.

Dad, if you're reading this: what the sell?

Now it looks cheap at $7.99, doesn't it?



Friday, March 9, 2012

P.S.


Still in that partial lot from August with HWD...


Out of HWD @ $13.9608...


Let's see if we can get in some more pips before 19 March 2012...

+$0.9708 per share, or +7.47% in literally three days...

I'm already in Switzerland btw!



Tuesday, March 6, 2012

Got Hit By Harry @ $12.99...


Not sure even when it happened, but my secret HWD bid @ $12.99 got hit today!



Monday, March 5, 2012

Duty Free (Me)...


Things are getting rough here at ForexDiva. I'm preparing for a business development trip to Switzerland in a few days, having exhausted three packs of very expensive HP ink cartridges in less than a week, and the market is hitting me from left and right.

I'm admittedly nervous, but the Glencore Traders aren't giving me one bit of reassurance.

I need a market pep talk, Professors - or just some upwards price action! So what's going on, Happy Shiny Glencore Traders?

Is the commodities market doomed? I wouldn't mind buying some cotton right now! Seems to have better prospects than the JRCC coal I'm holding, but I'm going to look for a moment to average in...

One of my most iconic trades so far happens to be the AMD second entry I made sometime following Lehman and if JRCC flops another 25%, that will bring its P/B level to the very evil 0.26 - not a bad time to average in just in time for another round of earnings announcement in early May.



Friday, March 2, 2012

Half In Half Out With Harry @ $14.0807...


Still in the lot from August 2011, but have sold the most recent entry @ $14.0807 for a $0.6215 per share profit, or +4.61% profit...