End of week 3

Good Friday is here, and this week ended early. Oh well. Another week, another lesson. Let’s get some summary first:

I closed OVTI for +$1.13, not bad, but could be better, in fact, I should’ve closed it when it hit $21. I re-entered and exited REE for a -$.20 loss. (I’ll get to this later) Jumped on MAGS midway and exited before going back to red for a tiny gain. Prepped and entered KMX on higher earning expect, and I’m right, only to get bombed by the accounting revise and exited -$1. Opened a tiny TVIX position, mostly for hedging use(a bit nonsense?), and – guess what – I bought 2 contract of Jan’13 5 Call on NOK to try to repair the lackluster. The other half of repair, 4 contract of Jan’13 6 Call, is yet to find a buyer and I’ll try do it next week.

Now the lesson part: Still putting in orders in a fast pace. But I think I have started to cut back. However, another problem showed up: impulsive trading. This could be very very dangerous. In this week’s trades, TVIX is def an impulsive buy. MAGS is also an impulsive buy, and a stupid add-on almost broke it. This should never happen. I’ll try my best to make sure it will never happen. Also, Should’ve jumped on RNDY? It doesn’t seem to dip, so I never really had a chance, but if the “Cramer effect” goes on, I may jump in anyways.

The plan next week: Just put in an order for CYBI, fundamental looks good, technical looks promising, it’s def worth speculating a bit. Earning season is here, and got quite some speculation target. WFC/INTC might be a good one if technical goes better. Also I should jump on RNDY on open?

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