Phantasmix December 18th, 2008
Sold (HUN: 3.521 +5.10%) @ $3.44 for +13.35% gain. I intend to revisit near $3, my original buy-point. Still think it has the potential to go to $5-6-8.
And as was mentioned in the comments, I sold SDS and KGC yesterday.
Still holding:
Phantasmix December 16th, 2008
Briefly traded KR and C on the long side. Overnight, holding:
Long
Short
Phantasmix December 16th, 2008
I sold my first ever option! 1 contract, covered call on SSO.
Jan’09 with strike $23. Got $4.10 for it, which means I net $212.05 after commission.
Questrade options commissions are $9.95 + $1 per contract.
If SSO is above $23 in January, my shares will be called out. If not - I keep them. I want them to get called out, but won’t worry either way.
That was partly my intention in buying SSO - to try options. Just 100 shares, not expensive, but somewhat liquid.
Phantasmix December 15th, 2008
Bought (SSO: 28.50 +2.30%) afterhours @ $24.87. Very little, 1/4 of my normal SSO position. Mainly as a hedge, to counterbalance my shorts and in case we take a stab at the 50ma on SPX.
Holding 3 shorts and 2 longs, $ ratio about 10:1!
Phantasmix December 15th, 2008
(HUN: 3.521 +5.10%) Huntsman Corporation, long @ $3.01
HUN engages in the manufacture and marketing of differentiated chemical and inorganic chemical products under four segments: Polyurethanes, Materials and Effects, Performance Products, and Pigments.
Special case. Projected target price $8.00 in near term.
The chart:
Click to enlarge
Phantasmix December 10th, 2008
I haven’t abandoned the blog, just have a lot going on at the moment.
Pre-Christmas thangs are taking up a lot of time (tying up loose project ends, have to buy gifts for both family and clients, have to estimate next year’s taxes and buy some stuff in order not to pay as much etc. etc.)
Still holding my 3 “conviction” shorts (AZO, FLSR and AAPL) and trade SSO both ways during the day, but very very lightly. I mostly just watch the tape during the day.
Auto bailout feels like a total déja vu and I’m completely desensitized to it. NOISE.
Good trading 
I have a weakness for these…
Phantasmix December 5th, 2008
Needs to pull back:
(AZO: 139.24 +1.10%) - AutoZone, will announce earnings on Dec 9.
So few stocks over $100 left, this is also a good reason to short it It’s over $100! In this market!
Unfortunately, this stock is heavily manipulated, as Eddie Lampert (of Sears fame) holds a big stake in AZO, and he’s been unloading, though slowly. But even the most manipulated ones give in sooner or later. Bid/ask spread is huge: no market orders.
Phantasmix December 2nd, 2008
(SSO: 28.50 +2.30%) - Ultra S&P500, long 200 @ $23.18
Other positions: short AAPL, short FSLR, long EEV.
That’s it for today!
Edited to add: target for SSO - SPX=880+
Phantasmix December 2nd, 2008
(C: 7.49 +5.79%), covered @ $6.80, +2.92%
Sold some EEV. Can’t bring myself to sell it all at once. This way, I sell in pieces, then make some money back, sell some more etc…
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