Summary – Monday, 2008.III.10.

Anybody who is a regular reader of this here site made all kinds of moneys today.

And while I’m getting tired of the media’s constant badgering about ‘increasing’ financial/economic concern (can we just finally say “we’re in deep shit” and get the whole ‘increasing’ part out of the way??), there’s no real reason to think that we can actually still avoid recession/financial meltdown/food lines.

Personally, I had about a 5-diamond day, banking and amassing unrealized gains of devalued dollar at an alarming rate.  It was not perfect due to some misguided longs and continued asshattery at [[TMA]].  I’m also mad at myself for not shorting [[MOS]] this morning after it broke its uptrend on Friday.

DP Buys:

• Puts in [[AMGN]]-(broke support @ $44.50) & [[TUP]]-(broke support @ $35).
• RC sold me on some of his solar bullishness, so I’ve taken a gamble on [[CSUN]] with a sprinkling of OTM calls.  Support around $6.50?

DP Sells:

• Got rid of calls in [[CPO]] & [[TTEC]].  CPO should be worth a revisit in better market conditions.  TTEC was a small position gamble, so the loss booked on it was only about 1/3%.  Not a good time to put on such a trade though (and now I’m doing the same with CSUN).
• Booked profits in [[BWLD]] by selling half of my puts for 100% profit and guaranteeing a breakeven in the position.

I have a feeling we’ll be getting a ‘dead-cat’ bounce soon, so I will be looking to book profits on the rest of my puts soon.  The [[GOOG]] and [[RIMM]] straddles finally saw some action today, although the [[TMA]] short straddle is looking precarious as the selling continues, almost driving the stock below the profitable range.