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Today’s Transactions:
Bought FRO Aug 55 put at $4.4 Stop if the stock is closed above $53.
Reason: As I mentioned last week, the tanker rates have weakened recently as the US crude oil is sitting at 9 year high.
Sold WMT Dec 40 Call at $8.6
Reason: the anticipated breakout didn\'t materialize. Sears warning this morning reflects poor sales at Kmart, a key competitor for Wal-mart. So just cut loss and move on.
Today’s Return: -1.13%
Return since inception(June 05, 2007): 16.31%
S&P 500 Return since June 05, 2007: -1.89%
Leverage: 1.43
My positions:
Long:
GRMN Oct 07 40 Call
GRMN Jan 08 50 Call
PG
CROX Jan 08 20 Call
UTSI Jan 09 10 Call
MS
MU
Short:
XHB Dec 07 40 Put
NUE Oct 07 80 Put
FRO Aug 07 55 Put
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