Down but Not Out!

15Jul07

After hitting a rough patch in June and a mini vacation I’m back to seeking my personal million dollar challenge.  I missed a few leverage bets and took a hit with my account, but last few weeks have saved me with a few call positions.  In June I had the analysis correct, but the timing was off.   As I alway say for options, the right timing + correct analysis = a winning trade.  This is why I always use a combination of fundamentals, technicals, and sentiment when taking a position.

Overall, I still remain bullish on markets and believe that a strong earnings report this week could give us a nice trading market for rest of year.  Many market ”TOP” callers could capitulate and will give up and we could just end up seeing a safe market for stock picking.  I will be also looking for markets to stall and possibly retrace Dow at 14k and 1560-70 for the S&P 500.

I continue to favor techs and I am now looking for Gold/metals to continue their recent bullish breakout.  But as long as trends remain bullish, I will continue to look for more breakouts to the upside in a variety of sectors, and lighten up at resistance levels.

Overall portfolio is still up 758% for year, but I’m starting to cringe when looking at my commisions mount up.

I am trading 2 accounts and the other is doing great this year also, but I’ll be only blogging the performance for the first.

2nd account:

 

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