The estimates for the non-farm payroll were lower than
anticipated and unemployment remained at 8.2%... the markets reacted
accordingly the Dow closing under 124 points. Let’s go through the days positions.
Crude Oil-
I liquidated crude at 84.40 with a 2,087 loss but after some
additional research I reestablished the position. I bought 2 contracts in the crude oil, the
first at 84.65 and the second at 84.52 which brings me to an average price of
84.59. Adding to a position allows you to enter at different levels as opposed
to one price. If crude is dipping I would suggest a buy!
Apple-
I added to my apple
position buying more $625 calls at 11:08 am when the stock was trading at
603.83 settling at 606.25, which gives me a total of two positions in
Apple. This is an approximately a $1,500 winner. I am going to review some charts
this week.
Google
I decided to buy some Google positions in addition to Apple.
I bought the $625 calls when the stock was trading at 584.83; this was also a
$625 call.
Ten Year Note- Loser
Oh the ten year. I decided to add to my ten year position,
I’ve have three contracts short at 134’00, currently is 1,406 loser. Even
though this is currently a losing position and a lot of people would suggest
against adding to a losing position. I am confident in my decision.
Gold- The Winner!
I bought gold at 1577.40 settling at 1578.90, for every dime
gold moves it has a $10.00 tick value therefore this is a $1,500 winner. Are
you with me? Ended the day a happy girl! Even though I lost money in crude I
definitely reestablished myself with this position.
Google and Apple are both promising companies. It’s
important to remember that prices are based on the future of a company, a lot
of the information we are receiving now has already been factored into the
market. I think an important tip if you are interested in trading is looking
for an edge in the market. You want to be able to see various cause and effect
patterns and factor those into your decision.
For example the news of a new iPhone being released will not
have a profound effect on the price, Apple releases a new iPhone every year
that’s not an edge. However, finding out that Apple has ordered parts to start
making televisions is an edge that will effect the market. Keep this in mind when you are considering
the direction of a market or investing in different stocks.
I’ve been getting some questions about getting started with
trading, I think paper trading is a very good way to begin to understand the
markets. Sign up for a virtual trading account to get familiar with the
terminology and understanding your decisions without risking anything. Also
studying charts helps, cross-referencing charts and events for the company will
help you understand the future of the company.
Friday was definitely a tough market but I am comfortable
with my positions. Earnings will be released soon I will have some thoughts at that later this week. I have attached screen shots of my calls for proof… Be sure
to follow me on twitter @TheBritReport for the most up to date positions.
That’s all for today!
Brit
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