Friday, May 24, 2013

Economiss of The Week...


I more or less had repatriated my recently expired SPY put losses and was starting to mint money with my calls.  With a hit out of nowhere, I ended up being voted Economiss of the Week with a bunch of Japanese bank calls.  I risked 30% of what I had invested value-wise in MFG and NMR shares during my Japanese Earthquake buying days on these calls.  

I was about 2 years too early during the Japanese Earthquake as I sat through mounting paper losses, but it ended up being one of my most profitable trades ever.  I think I even made more money on NMR and MFG than when I got into Citi shares at rock bottom prices during the Great Recession.  Too bad I sold my NMR and MFG shares too early and ended up buying calls at what could be an intermediate market top.

I'm still sitting on 37% cash in my Roth IRA, but I don't want to go on a trading spree just yet because I'm still pretty emotional.  Yeah, I should take a chill pill, but this was the moment I'd been trading for for months and I not only missed out, but lost money.  It was a serious financial punch in the face...  

How can I repatriate these losses and not end up getting more losses?  I've been waiting for a market sell-off for months now and I wanted to use it to stock up on calls when the selling got overdone.  With these Buy the Dippers in the way, it's really difficult for the market to sell off in a meaningful way.  Why can't you all buy when the SPY gets to 140?


-0.45% SBA
-3.75% Roth IRA (quite painful on this account, as it is substantially bigger than my SBA)

+0.06% DJIA
-0.12% Nasdaq
-0.06% S&P 

-0.63% FTSE
-0.27% Eurofirst
+0.89% Nikkei
+0.57% Shanghai
+0.15% SENSEX
-0.23% Hang Seng

-0.36% WTI
+0.21% Brent
0.00% Gold
-0.14% Copper
-0.76% Corn

-0.96% USD/JPY
-0.99% EUR/JPY

-0.53% DJT
-0.14% VIX

-0.59% 10-Year US Treasury Notes



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