Today's IB balance is 60700, lost 820, Dow had a volatile day, from up 100 early to down 163 at close.
Today made some mistakes:
1. Shorted FXP-100 when market trend is not very clear, lost over 200. Need to be more cautious with ultrashort ETF. I think China market still have upward potential. FXI and CAF should be better bet. Especially given that FXI currently have a 3% discount. Need to do some research on FXI and CAF, Since FXI track most state owned companies does it follow Shanghai index more closely and CAF follow Shenzhen more closely? If so, this may mean some opportunity. If Shenzhen down more than Shanghai like last 2 days, then if FXI behind CAF, load +FXI-CAF, it would work the last 2 days.
2. Bought DSX+200 at 22.58 and GNK+100 at 46.89, this is ok since both have steep drop today, but then didn't wait longer to buy again, bought DSX+200 at 22.46 and GNK+100 at 46.22, suffer futher loss since DSX drops to below 22 and GNK below 45. The second trade was a mistake. Should be more patient. Then bought DRYS+100 at 46.86, this is at about right time. Dry bulk shipping companies drop big today because BDI drops 167 to 4782, or more than 3%. However, I don't think it justify the big drop by DSX and GNK, since both have long contract, should not be affected too much by spot BDI. Need to do more research on DRYS. I remember to see that DRYS also moves toward longer contract to reduce fluctuation in revenues. Add more GNK+100 at 44 and DSX+200 at 21.22, both seems good move and price rebound a little and reduced loss. Ready for more rebound this week.
3. Bought CF at 113, it's almost pure speculation, based on Zacks' buy recommandation. Just want to get some feeling about agricultra chemical companies. It later drops more to below 110. Later it came back up and post a small gain. Hope for more rebound this week.
4. COST-WMT still hanging around -400, enter too early? Any way, it's not very confident investment.
5. Clear SNP short position, only make 60, it's mistake to hedge with option since I was pretty sure SNP will drop today.
Some not so bad movements:
1. LEG*256-ETH*200 was correct move and make 47, small amount but safe, good move.
2. Load HD*242-LOW*258, pretty confident to make 2% profit in a week.
Furthur thoughts
1. Didn't have chance to do +AAPL-RIMM, better to do it yesterday, no regret since it's also pure speculation
2. SLV drops to 13 and GDX drop to 37, can't decide to buy or not, Gold price may drop more before moving up.
Next time when make purchase without hedge position, should set Stop Loss
At this time I just want to hold since I'm pretty confidence in Dry Bulk Shipping companies
Even CF should rebound pretty soon.
Tomorrow if GLD and SLV go down more, load some accordingly. Closely follow current position, if HD-LOW or AAPL-RIMM turn to profit, cover it immedietly. Continue to hold DRYS, GNK, DSX and CF
Follow:
CI*210-HUM*175, if go lower load position,***cannot short HUM or CI at this time
MGM*300-WYNN*100
