My post on 7/22/2008, “Be Patient” was meant to serve as a reminder to myself that I have to be patient. 
 

I wrote the post after I realized a quick trade to close 5 PRQTN @ 1.4 and miss the ride to 8.50 the next day!  The trade to close PRQTN was meant to switch my cash to FREJB, a more volatile option with a bigger swing.  The switch was meant for a quick gain and quick gain I got; I closed FREJB two days later and had a realized $400 in two trading days.  However, if I could be patient and wait out for the Costo earning call, I could have a gain of $3,550!  Anyhow, a lesson learnt.

Even after I wrote the post, I made another bad move on FREVB because I wasn’t patient enough and miss the ride on Thursday.  Be Patient!

So, by COB 7/25/2008.  I went back to where I started.  I was only $50 away from my goal of $1,000 in gain.  I lost two big rides and back to where I started!

Go into next week, I am short on cash and long 15 NJWIP.  I speculate that after Senate passed the housing bill on 7/26/2008.  I am betting on FNM will gain its ground and move north.  My plan going into next week is simple, just be patient!  I set the exit point for NJWIP @ 4.0 (my cost was 2.5 for all 15 contract) and I believe it’s reachable, maybe not this week but should happen within a month.  Let’s wait and see what next week bring.  

Last week, it was a pretty good week for Wall Street and an ok week for me.  By EOD 7/19, I had a realized gain of $630.02, unrealized gain of $136.26 and an unrealized lost of $638.74.  I barely made any money.  See my weekly trading recap here:

Below is my portfolio going into next week (7/21 ~ 7/25):

My goal for the next week (7/21 ~ 7/25) is to come out of the week with $1,000 in gain and the game plan is to take quick profits or get out of lose positions more quickly.

I love volatility and my focus next week shall be on the financial sector and my watch list are:   

1. American Express (AXP)
2. Wells Fargo (WFC)
3. US Bancorp (USB)
4. JPMorgan Chase (JPM)
5. Lehman Brother (LEH)
6. Travelers (TRV)
7. Bank of New York Mellon (BK)
8. Fannie Mae (FNM)
9. Freddie Mac (FRE)
10. Washington Mutual (WM)

Let see what next week brings.

It will take another year or so before I can get FiOS service to my house.  Well, if I can’t get FiOS for another year or so in Columbia Maryland, then to complete the FiOS network build up for entire nation may take a while.

Share price has been dropping for Ciena (Fiber Optic Device maker) for the past few months; I think the company positions itself well in the sector and the current share price is a good buy, so tonight I put in a limit order to purchase 5 contracts of Oct 20 call (+EUQJD) @ $2.20.

Another good reason why you want to keep a trading blog like this is so that you can look back.  So I looked back and found an entry titled "The Commodities Are Hot Hot Hot!!" and I published it on 9/13/2007.  Back then when I wrote the post, the crude was only at 80 dollars per barrel and look what we have today, $142 per barrel!

I have started wondering when would the oil bubble burst ever since it hit $120 per barrel and so far there is no sign of that happening.  I now begin to wonder would the bubble ever burst and what's next?  Is the crude raising because of speculation or it is just fundamental? 

Summer is almost over and excitment is about to begin, the Lucky Speculator will start its first trade on the first trading day in Sep, the 9/4!

To start and to begin with, I will trade some high risk stock options on 9/4.  Why options?  The idea here is leverage!  I don't need to pay full share price to gain control of the stock, beside with only 25K, the shares I can buy with full price is very limited.  So instead, I can control the share by buying the right to buy or sell them.  Anyway, if you don't know what stock options are, don't worry, my next blog will be titled "Options 101: What is option?".  Make sure you come back and read it before 9/4 so you can follow what I am doing. 

Fow now: some of my speculative picks are:

• Symbols: PLA Options Chain: http://finance.yahoo.com/q/op?s=PLA
• Symbols: MNKD Options Chain: http://finance.yahoo.com/q/op?s=MNKD
• Symbols: NFLD Options Chain: http://finance.yahoo.com/q/op?s=NFLD
• Symbols: CIEN Options Chain: http://finance.yahoo.com/q/op?s=CIEN

Some info on Playboy Enterprise Inc. (PLA)  We all know what it is right?   The company was founded in 1953 and the HQ is located in Chicago, IL.  Playboy Enterprise Inc. and its subsidiaries, operates as a multimedia entertainment company and the company is expanding it's online, international businesses, licensing, along stabiling its domestic tv operations.  Most recently completed 2nd qtr served as evidence of the succes of the expanding effort.  Mgmt is actively controlling costs, the higher quarterly earning registered by the Entertainment segment reflected the $4.3 million cost saving.  I will pick the option, set the target, stop-loss on Monday.

MNKD and NFLD are bio-tech companies and have one product line which has not yet pass FDA phase III trial.  Google the company to read more about them...

CIEN is a Hanover based company that specilize in researching and making fiber-optical cables technology.  Do you have FiOS?  If not, do you want to get it?  

That's it for now.  Stay tune!

So, friends are asking me when I will start my first trade as a lucky speculator, I guess they just can’t wait to see how I lose my $25,000 J

Well, be patient my friends, LuckySpeculator.com is not really ready yet.  For one, I think I might need to put up some kind of disclaimer to make sure I am not legally exposed...  so I googled for some disclaimer and below are some of what I found, make sure you read them before you start reading my blog:

1. Disclaimer 1: This is not investment advice. Do your own homework before investing in anything.
2. DISCLAIMER 2: The contents of this blog shall not be construed as giving rise to liability of any kind whatsoever (in particular but not limited to tort and contract). Neither the authors of this blog nor LuckySpeculator.com shall be liable for any damage sustained, suffered or experienced by anyone for anything related to anything in or omitted from LuckySpeculator.com or links to or from it. The venue for resolution of any dispute related to this blog shall be the planet Uranus and the laws applicable, both procedural and substantive, shall be the laws of the planet Uranus  
3. Disclaimer 3: This is not investment advice. It is merely what one knows nothing is irresponsibly doing with his own money.
4. Disclaimer 4: Trading stocks involves risk; this information should not be viewed as trading recommendations. The blog articles and charts provided here are not meant for investment purposes and only serve as technical example.

Here are some text I stole from fool.com and modified for my blog, LuckySpeculator.com:

The LuckySpeculator.com does not guarantee the veracity, reliability or completeness of any information provided on LuckySpeculator.com or in any hyperlink appearing on our site. No one could read through the thousands of messages/comments I receive each day, check out all the hyperlinked web sites, and research each one for accuracy. That isn't why I’m here. Nor am I here to give you hot "tips," to make "buy" or "sell" recommendations, or to tell you what to do with your money. I’m here to share my personal investment and finance decisions only, and to have fun.

You are responsible for your own investment decisions. The LuckySpeculator.com will not be responsible for any errors or omissions in articles or postings, for hyperlinks embedded in messages, or for any results obtained from the use of such information. The LuckySpeculator.com will not be liable for any loss or damage caused by a reader's reliance on information obtained in our area, or in a hyperlinked area. If you don't accept this responsibility for yourself, then you should not use The LuckySpeculator.com.

If you ignore my advice to do independent research of industries, companies, and stocks, choosing instead to trade solely on information, "tips," or opinions found in this blog, you have made a conscious, willing, free, and personal decision to do so. You have also probably made a mistake.

As cyberspace develops, the freedom and openness from which we all profit can make us the target of touts, hypesters, and frauds. These people could infect my blog, just as they infect other parts of the world. Please proceed with caution and do your homework. And remember: when you access one of these hyperlinked web sites, you're leaving my area so be wary of those who post hyperlinks to strange web sites.