Stock Traders Blog

I covered 200 shares of Baidu at $281 this morning. Lost more than $1200 on that trade. If I wait till tomorrow to cover it seems to me I can break even or make profit. My average on Baidu short postion was $275.5. In addition to that I made some big moves in hope to recoup that lost tomorrow. I bought 1000 shares of OZRK (Bank of the Ozarks). I follow that stock for sometime it seems to be a small but very good bank. Well I didn’t read its quarterly report. I don’t think I will understand the banks’ financial statement neither do I think the analysts in Goldman Sachs and Morgan Stanley understand them. Otherwise they wouldn’t set a price target of $25 and $32 for Bank of America. I also shorted CCO (Clear Channel Outdoor Holdings). Hopefully they all go in favor of me tomorrow.

I also make my third move today I sold 10 contracts of June USB Put with strike at $17.50. If USB’s price stay above $17.50 though Jun 20th. I will collect $700. Otherwise if the buyer of my put choose to sell me 1000 share of USB at $17.50 I seem to be happy to have it at least for now. It is the first time in my life to trade options. I feel if I don’t trade option I will not get the entire picture of stock price movement.

I know I lost discipline again. But I really couldn’t think of any way to recoup my lost. Perfect excuse. How much do you think I will gain or lost tomorrow with these position?

Account Balance Change: +$833.38

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1. I Have Too Many IFs in My Mind
2. Shorted BAC Again, Get Back to Basic and Try to Live a Low Beta Life
3. Non-Standard BAC Option and Cash in Lieu
4. Trade For Blogging Purpose
5. I Have Got to Treasure Selling Opportunity