Today started off as the second most robust first hour of trade this year. It was plum robust, no other way to describe it.
My portfolio was robust too, actually making back more than I lost yesterday, a feat that has escaped me during much of this choppy charade. All it seemed was well at the plantation a la Raul.
I went about my work, subtracting 4.75 from line after esoteric line on my market odometer aka price chart. I did so with a humble appreciation for smarter software and robots, neither of which I currently possess. Instead I possess old fashioned persistence and patience.
Along the way I started buying January calls. I built a rather significant January holding today, on the way up and down, buying all sorts of neat stocks. It’s buying, I have been using my computer to buy anything and everything like a madman for weeks.
I am normally a prudent person, spending very little for much of the year. But then the year draws to an end, all the chips are counted, and I simply become grateful. Once I loosen up and start buying look out. I have Amazon, New Egg, Groupon, and many more ‘sites’ permanently opened on tabs, ready to fire off orders and any given moment.
But clearly I digress. I went out and bout BAC, NMBL, CLDX, TSLA calls and some S common.
Yep, I did all that.
I also closed out my BIDU weekly calls. They had all the right moves to start the day. And they might exceed my strike tomorrow. But plans are plans. I waited too long to stop them, they could have been a scratch after taking out a very short term level. It all depends on how you set out to manage these types of positions. I gave it end of day slack and the sellers pressed nearly every last minute of the closing trade.
I have one shot left to trade BIDU and still like this chart.
In summary, I made a new bed today with all sorts of new January risk. Was it too soon? Only Santa Claus truly knows the answer.
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