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)

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!