Tuesday Virtual Portfolio Moves

• ICE back in 5 $130s (ICEDV) in the $10KP for $3 (stop at $2.60 .40 trail stop)

ICE – if $125 doesn’t hold we can’t afford to take a chance – very much a shame as I don’t buy the logic of the sell-off. By the way, when I say $125 doesn’t hold, I mean on the 5 minute chart – not the 5 second chart! Those 1 min charts will flush you out of positions every time if you let them.

Oil puts should be very light entry with the expectation of having to DD on a pump (maybe at yesterday’s levels).

WFR – nice entry poitn if SOX break over 470. I’m going to pick up the $60s for $1.60 but I’m out if the SOX fall below 468.

Sharp VLO reveral underway! I’ll be very concerned at $64.25

• TSO $100 puts at $1.80

Oops, had to pay $1.95

WFR turned out to be a nice entry. As I made more than 20% in the day, rule kicks in to sell at 20% off the $2.25 max gain (.65) so I’m out at $2.10 with a .15 T stop off $2.25 so far – I’m hoping to test $60 though and may exit half right there… (I hope this isn’t too confusing but people keep asking me what my day trading logic is).

RIMM now I have to DD on the $130 puts at $1.50. That brings the basis down to $2.15 where I will get out of the whole thing.

TM good but not great, “only” up 8% but expectations are very high for them, taking the $130s off the table on loss of mo (.10 T stop).

• TM – wasn’t going anywere so just got out at $1.30

GOOG, my current play would be the Jun $500s for $11.40 and sell the $490s for $6.10. You have a $24 margin of safety and the June $480s sell for $20. XXX

 I will set a hard stop on ICE at $2.25 in case it power dives.