Not a bad week. The market went essentially nowhere, but because of some of the trades I made at the lows for the week I’m up pretty good overall in spite of today’s down day. My guess: pretty big up across the board next week, and if so, I’m positioned for a serious killing. We’ll see.
You know that Crocs (CROX) trade I told you about? I’m still riding that one, now at a gain of nearly $11,000. I’m closing in on 100%, there. I also entered about the same $16,000 in calls on SAP (SAP) at the same time as Crocs and had to feel the heat for a while as yesterday, at the low, it was showing a loss of about $4,000. Today I’m almost back up to break even on it. We’ll see how that goes, but if it doesn’t get it in gear early next week, I’ll bail. I have sights on both Echelon (ELON) and Nvidia (NVDA) and that SAP trade would be the one to close in order to cut opportunity costs. Other than that, I’ve got some ProShares leveraged ETFs on the S&P and Qs, as well as some call options on both for even more leverage. All were entered near the lows of the week, so we’re looking good.
Today’s selection is The Traveling Wilburys. Quite and eclectic bunch, and even though neither Tom Petty or Bob Dylan shine in this particular one, both George Harrison and Roy Orbison make up for it in spades. And tun it up, wouldja?