We’ve been having problems with the server changeover so I’m going to keep this short and sweet. I am still , as of Monday morning, unable to access the member site, if this contnues throughout the day we will hold chat here, on the free site but hopefully the issue will resolve itself before then.We made new highs and that’s all that matters at the end of the week. The markets are hot and that’s undeniable and we’ll see how the first real week of earnings season treats us.
We started the week in crisis but I titled the Monday Morning Post "What doesn’t kill us, makes us stronger." After a very brief dip, it turned out that confession was indeed good for the Financial Sector’s sole as the XLF caught fire and looked strong all the way to a retest of 36, which is up exactly 5% from the Sept 10th turn around. While I still think we’re wistling past the graveyard – what can you do? As I said Monday night: "The train has now left the station and all we can do is grab the bumper and hold on tight because it looks like it’s going to be a wild ride…"
Tuesday morning we looked for some justification for our bullish behavior but there really isn’t much, other than the global trickle down theory, where we stand firmly at the bottom of the barrel, picking up scraps as the rest of the world markets are running away with the ball. By the end of Tuesday we closed out 53 positions in just 2 days as we moved to more cash and a more bullish stance with 40% of our Short-Term Virtual Portfolio in open calls. By Wednesday morning we were bullish enough not to buy the sudden does of bll that was spewed by the media and by Wednesday night we were certain it was just a shakeout. We were properly positioned Thursday and Friday but by Friday we were back to covering ahead of the weekend as we can only take "Don’t worry, be happy" just so far!
Of course we had a good week:
Short-Term Virtual Portfolio up 64%, 749% for the year.- Long-Term Virtual Portfolio up 7%, 228% for they year.
- We opened up 3 new virtual portfolios for the quarter:
- The $10,000 Virtual Portfolio is now the $11,425 Virtual Portfolio
- The $25,000 Virtual Portfolio is now the $30,069 Virtual Portfolio
- Our $100K Dow Virtual Portfolio is up to $105,560
- The Happy 100 Virtual Portfolio is almost back even, down 1.1%
- Our Stock Virtual Portfolio is gained another point, up 37% for the year
- Complex Spreads jumped 46% (thank you Google!), 358% for the year.
Thanks to a good round of early cutting, we only had to close out 30 more positions after Tuesday and, happily, lots of that was good old-fashioned profit taking. 22 of our 83 closed positions were losers but they averaged a 30% loss and were mainly the losing ends of spreads, which is why our remaining positions are in such great shape!
Even with the losers, our 83 closed positions averaged 54% gains with huge cash gains from COP, FXI, PTR, RIMM, XOM and, as usual our DIA plays. Google is NOT one of our gainers as we haven’t closed those amazing positions yet, we just took our losses in this round as we re-covered with $590s.
We’re still mainly in cash (70%), which may have cost us a lot of gains but there certainly isn’t much out there I would consider a bargain just yet. 23 open calls remain in the STP but, on a cash basis, they are 50% covered by 12 open puts with 24 covered postions rounding out the group. The LTP has it’s own covers now, large open puts on XOM and BIDU, which cover the 18 open calls but we’ll be quickly taking those profits off the table if they markets can’t hold onto last week’s gains.
On the whole, it was a great week, nothing to complain about but I’m still waiting for the shoe to drop – my own personal "Wall of Worry" to climb!
|
Description |
Basis |
Open |
Sale Price |
Sold |
Gain/Loss |
% |
| 20 OCT 18.00 $VIX CALL (VIXJS) | $ 3,010 | 10/1 | $ 3,890 | 10/2 | $ 880 | 29% |
| 20 OCT 55.00 AMGN CALL (YAAJK) | $ 3,310 | 9/28 | $ 5,790 | 10/2 | $ 2,480 | 75% |
| 20 OCT 55.00 AMGN CALL (YAAJK) | $ 3,610 | 9/21 | $ 4,210 | 10/5 | $ 600 | 17% |
| 48 OCT 12.50 AUY CALL (AUYJV) | $ 730 | 8/3 | $ 2,390 | 10/2 | $ 1,660 | 227% |
| 36 OCT 12.50 AUY CALL (AUYJV) | $ 550 | 9/19 | $ 1,430 | 10/2 | $ 880 | 160% |
| 10 OCT 60.00 AXP CALL (AXPJL) | $ 1,760 | 9/28 | $ 1,490 | 10/5 | $ (270) | -15% |
| 20 OCT 47.50 BBY CALL (BBYJW) | $ 2,810 | 10/2 | $ 1,990 | 10/4 | $ (820) | -29% |
| 10 NOV 290.00 BIDU PUT (BDUWY) | $ 16,010 | 9/25 | $ 25,850 | 10/5 | $ 9,840 | 62% |
| 15 OCT 27.50 BMY CALL (BMYJY) | $ 2,410 | 9/24 | $ 2,165 | 10/2 | $ (245) | -10% |
| 20 OCT 47.50 C CALL (CJW) | $ 1,210 | 9/24 | $ 2,890 | 10/1 | $ 1,680 | 139% |
| 20 OCT 45.00 C CALL (CJI) | $ 4,510 | 10/1 | $ 6,990 | 10/1 | $ 2,480 | 55% |
| 20 OCT 75.00 CAT CALL (CATJO) | $ 9,010 | 9/24 | $ 10,690 | 10/2 | $ 1,680 | 19% |
| 80 OCT 80.00 CAT CALL (CATJP) | $ 12,010 | 9/10 | $ 13,990 | 10/2 | $ 1,980 | 17% |
| 5 OCT 80.00 CAT CALL (CATJP) | $ 760 | 9/28 | $ 840 | 10/2 | $ 80 | 11% |
| 40 OCT 45.00 CCJ CALL (CCJJI) | $ 4,010 | 8/31 | $ 190 | 10/2 | $ (3,820) | -95% |
| 20 OCT 35.00 CHK CALL (CHKJG) | $ 2,310 | 9/20 | $ 2,590 | 10/1 | $ 280 | 12% |
| 20 OCT 70.00 COF CALL (COFJN) | $ 2,310 | 9/21 | $ 2,990 | 10/1 | $ 680 | 29% |
| 10 OCT 47.50 COH CALL (COHJW) | $ 960 | 9/24 | $ 1,290 | 10/1 | $ 330 | 34% |
| 50 OCT 85.00 COP CALL (COPJQ) | $ 5,010 | 10/4 | $ 7,740 | 10/4 | $ 2,730 | 55% |
| 240 OCT 85.00 COP PUT (COPVQ) | $ 36,970 | 9/12 | $ 45,590 | 10/2 | $ 8,620 | 23% |
| 20 OCT 65.00 CROX CALL (CQJJM) | $ 7,810 | 9/25 | $ 6,790 | 10/2 | $ (1,020) | -13% |
| 10 NOV 30.00 CY CALL (CYKF) | $ 1,310 | 9/25 | $ 1,790 | 10/3 | $ 480 | 37% |
| 400 OCT 139.00 DIA PUT (DAZVI) | $ 32,420 | 10/3 | $ 57,990 | 10/5 | $ 25,570 | 79% |
| 200 OCT 139.00 DIA CALL (DAZJI) | $ 36,410 | 9/28 | $ 58,370 | 10/2 | $ 21,960 | 60% |
| 400 OCT 139.00 DIA PUT (DAZVI) | $ 42,810 | 10/1 | $ 56,790 | 10/2 | $ 13,980 | 33% |
| 200 OCT 140.00 DIA PUT (DAZVJ) | $ 27,010 | 10/1 | $ 33,980 | 10/2 | $ 6,970 | 26% |
| 300 OCT 139.00 DIA PUT (DAZVI) | $ 31,510 | 10/2 | $ 38,690 | 10/2 | $ 7,180 | 23% |
| 200 NOV 140.00 DIA PUT (DAZWJ) | $ 54,020 | 9/19 | $ 56,390 | 10/2 | $ 2,370 | 4% |
| 300 NOV 140.00 DIA PUT (DAZWJ) | $102,010 | 9/27 | $ 95,990 | 10/3 | $ (6,020) | -6% |
| 20 OCT 40.00 EBAY CALL (XBAJH) | $ 2,010 | 10/2 | $ 2,490 | 10/2 | $ 480 | 24% |
| 10 OCT 65.00 EDU CALL (EDUJM) | $ 2,910 | 9/25 | $ 2,490 | 10/2 | $ (420) | -14% |
| 40 OCT 115.00 FSLR CALL (QHBJC) | $ 55,210 | 9/12 | $ 55,190 | 10/1 | $ (20) | 0% |
| 40 OCT 130.00 FWLT PUT (UFBVX) | $ 12,010 | 9/24 | $ 11,990 | 10/3 | $ (20) | 0% |
| 15 OCT 174.00 FXI PUT (FVUVR) | $ 5,635 | 9/27 | $ 8,285 | 10/1 | $ 2,650 | 47% |
| 50 JAN 185.00 FXI PUT (FVUMC) | $ 91,510 | 10/1 | $114,990 | 10/4 | $ 23,480 | 26% |
| 25 NOV 180.00 FXI PUT (FVUWX) | $ 22,835 | 10/1 | $ 25,740 | 10/2 | $ 2,905 | 13% |
| 15 NOV 178.00 FXI PUT (FVUWV) | $ 16,015 | 9/14 | $ 14,090 | 10/1 | $ (1,925) | -12% |
| 5 NOV 178.00 FXI PUT (FVUWV) | $ 5,345 | 9/28 | $ 4,690 | 10/1 | $ (655) | -12% |
| 20 OCT 45.00 GDX CALL (GDXJS) | $ 2,010 | 9/28 | $ 3,590 | 10/2 | $ 1,580 | 79% |
| 5 OCT 45.00 GDX CALL (GDXJS) | $ 510 | 9/24 | $ 640 | 10/2 | $ 130 | 26% |
| 20 OCT 25.00 GLW CALL (GLWJE) | $ 1,710 | 9/24 | $ 990 | 10/2 | $ (720) | -42% |
| 20 OCT 35.00 GM CALL (GMJG) | $ 3,810 | 9/28 | $ 6,490 | 10/2 | $ 2,680 | 70% |
| 20 OCT 35.00 GM CALL (GMJG) | $ 6,010 | 10/2 | $ 5,790 | 10/3 | $ (220) | -4% |
| 10 DEC 540.00 GOOG CALL (GOPLX) | $ 23,810 | 9/8 | $ 58,990 | 10/1 | $ 35,180 | 148% |
| 10 OCT 560.00 GOOG CALL (GOPJZ) | $ 26,510 | 9/21 | $ 19,490 | 10/1 | $ (7,020) | -27% |
| 30 OCT 570.00 GOOG CALL (GOPJQ) | $ 62,260 | 9/19 | $ 28,940 | 10/4 | $ (33,320) | -54% |
| 40 OCT 580.00 GOOG CALL (GOOJP) | $ 60,010 | 9/19 | $ 25,990 | 10/4 | $ (34,020) | -57% |
| 10 OCT 50.00 HPQ CALL (HPQJJ) | $ 1,360 | 9/29 | $ 1,790 | 10/1 | $ 430 | 32% |
| 20 OCT 120.00 IBM CALL (IBMJD) | $ 2,410 | 9/10 | $ 4,790 | 10/4 | $ 2,380 | 99% |
| 10 OCT 65.00 JNJ CALL (JNJJM) | $ 1,510 | 9/21 | $ 1,290 | 10/2 | $ (220) | -15% |
| 5 OCT 45.00 JPM CALL (JPMJI) | $ 810 | 9/27 | $ 1,365 | 10/3 | $ 555 | 69% |
| 10 OCT 45.00 JPM CALL (JPMJI) | $ 1,610 | 9/27 | $ 2,440 | 10/2 | $ 830 | 52% |
| 20 OCT 30.00 M CALL (MJF) | $ 7,010 | 9/6 | $ 4,590 | 10/1 | $ (2,420) | -35% |
| 40 OCT 45.00 NEM CALL (NEMJI) | $ 4,810 | 10/1 | $ 7,990 | 10/2 | $ 3,180 | 66% |
| 20 OCT 85.00 PCLN PUT (PUZVQ) | $ 8,410 | 9/12 | $ 3,590 | 10/2 | $ (4,820) | -57% |
| 20 OCT 175.00 PTR PUT (PTRVO) | $ 4,660 | 9/25 | $ 13,390 | 10/1 | $ 8,730 | 187% |
| 40 JAN 185.00 PTR PUT (PTRMQ) | $ 58,890 | 9/14 | $ 77,990 | 10/3 | $ 19,100 | 32% |
| 10 OCT 40.00 QCOM CALL (AAOJH) | $ 1,910 | 9/21 | $ 1,990 | 10/2 | $ 80 | 4% |
| 200 NOV 51.00 QQQQ CALL (QQQKY) | $ 38,410 | 9/28 | $ 43,390 | 10/3 | $ 4,980 | 13% |
| 20 JAN 86.63 RIMM CALL (VHOAW) | $ 6,410 | 7/6 | $ 59,990 | 10/3 | $ 53,580 | 836% |
| 5 OCT 105.00 RIMM PUT (RULVL) | $ 1,635 | 10/4 | $ 5,840 | 10/5 | $ 4,205 | 257% |
| 20 OCT 100.00 RIMM CALL (RULJT) | $ 9,510 | 9/27 | $ 14,490 | 10/2 | $ 4,980 | 52% |
| 20 OCT 100.00 RIMM CALL (RULJT) | $ 9,510 | 10/1 | $ 12,790 | 10/2 | $ 3,280 | 35% |
| 5 OCT 100.00 RIMM CALL (RULJT) | $ 5,010 | 10/4 | $ 3,040 | 10/5 | $ (1,970) | -39% |
| 10 NOV 130.00 SHLD CALL (KTQKY) | $ 5,760 | 10/2 | $ 16,990 | 10/4 | $ 11,230 | 195% |
| 20 NOV 130.00 SHLD CALL (KTQKY) | $ 11,510 | 10/2 | $ 33,790 | 10/4 | $ 22,280 | 194% |
| 15 NOV 150.00 SHLD CALL (KTQKU) | $ 7,510 | 10/4 | $ 12,740 | 10/5 | $ 5,230 | 70% |
| 20 OCT 145.00 SHLD CALL (KTQJV) | $ 5,510 | 10/4 | $ 8,990 | 10/4 | $ 3,480 | 63% |
| 30 OCT 42.50 T CALL (TJV) | $ 1,810 | 9/27 | $ 3,140 | 10/2 | $ 1,330 | 74% |
| 20 OCT 42.50 T CALL (TJV) | $ 1,210 | 9/24 | $ 2,090 | 10/2 | $ 880 | 73% |
| 40 DEC 17.50 TASR CALL (QURLW) | $ 4,610 | 9/17 | $ 8,790 | 10/4 | $ 4,180 | 91% |
| 20 OCT 17.50 TASR CALL (QURJW) | $ 1,510 | 10/2 | $ 1,200 | 10/4 | $ (310) | -21% |
| 20 OCT 15.00 TASR CALL (QURJC) | $ 3,410 | 9/28 | $ 2,690 | 10/2 | $ (720) | -21% |
| 100 OCT 15.00 TASR CALL (QURJC) | $ 20,510 | 9/24 | $ 10,490 | 10/4 | $ (10,020) | -49% |
| 40 OCT 7.50 TRMP CALL (PMQJU) | $ 1,930 | 8/23 | $ 3,990 | 10/5 | $ 2,060 | 107% |
| 25 OCT 70.00 VLO PUT (ZPYVN) | $ 4,710 | 9/19 | $ 8,740 | 10/2 | $ 4,030 | 86% |
| 20 OCT 70.00 VLO CALL (ZPYJN) | $ 1,510 | 9/24 | $ 1,990 | 10/2 | $ 480 | 32% |
| 10 OCT 60.00 WFR CALL (WFRJL) | $ 3,010 | 9/21 | $ 2,490 | 10/2 | $ (520) | -17% |
| 20 OCT 60.00 WFR CALL (WFRJL) | $ 8,010 | 9/21 | $ 4,990 | 10/4 | $ (3,020) | -38% |
| 200 OCT 75.00 XLE CALL (XBTJW) | $ 28,410 | 9/28 | $ 41,590 | 10/2 | $ 13,180 | 46% |
| 400 OCT 90.00 XOM PUT (XOMVR) | $ 30,010 | 10/1 | $ 41,990 | 10/2 | $ 11,980 | 40% |
| 100 OCT 90.00 XOM PUT (XOMVR) | $ 8,510 | 9/28 | $ 9,990 | 10/1 | $ 1,480 | 17% |
| 5 APR 30.00 YRCW CALL (YUXDF) | $ 1,260 | 10/2 | $ 1,290 | 10/5 | $ 30 | 2% |
