Wednesday 10-17-2007

9:00 AM
The pre-market is going up huge. No chase. Seeking to sell calls. Put some positions on 200 ANSS stocks in the later session.

Watch out the first 30 minutes. Absolute no long.

12:30 PM
The market is strong with high volume. I think that a good investor has to be a lonesome. I do believe that the trend is down and market is going lower. So I have shorted the QQQQ and RIMM, got out the CSCO calls. I will watch it closely, and if I am wrong, I will close the position quickly.

5:30 PM
The market turned around and finished up very strong. The NAS is much stronger than ever. I lost a few thousand on the shorting positions.

I believe that the market will go from here much higher. The short term correction is over.

Portfolio to be built:
1. SIGM is a entry point. Buy Jan 60 calls.
2. CIEN in entry point, buy Jan 50 calls
3. ITRI buy and hold - (good for sell covered calls)
4. FMCN Jan 60 call entry point
5. IVGN stock - medical generic
6. NDAQ stock entry point
7. PCP buy and hold - (good for sell covered calls)
8. RIMM jan 115 call entry point
9. BHP jan 90 call entry point
10. TRMB stock entry point
11. AMZN stock
12. BIDU jan 330 call
13. Watch GOOG