Good Faith VIOLATION

pessimism caught me most of the week. I guess it started with the good faith violation call from my IRA broker on Wednesday. Since that day, I have been unable to make decision, if it is not for the rules, I don't think I can trade. I was too reckless Monday, opening 5 trades without position sizing. So the broker called me on Wednesday and told me that my sale had committed on Tuesday a good faith violation, meaning I am using unsettled fund for the purchase.

Monday and Tuesday were a big wash, especially mentally. Now things are settling, as I reflected, my recklessness had drained my emotion.

one more hour to go for the trading day, let's see how my IRA account faired.

Do something, or do nothing

I tried I tried, still I haven't had a day that I neither open nor close a trade.

Is it true that there are opportunities every day in the market, or am I a total trade junkie.

Answer is both, there is no evidence against there are opportunities everyday, while my bullish watch list has 100 stocks and my bearish watch list has 45 stocks, my rules allows me to enter trade every day!

staring at the picture of the GS











I wondered when will the day come that all the promises of financial independence finally arrive. I have never doubted myself that some day I should enjoy the abundance of materialism, but when?

Dow Index completed a 1 year long head and shoulder formation today, it broke the lows made in Jan and again in March. S$P 500, NASDAQ and Russell 200 are all trending down. Who knows when will the end comes, as long as the market is trending, it is ok, bear or bull, we can still make money and get steps closer to the state that I yearned since I set foot in this country.

Long:
Ultra Shorts: SDS, SRS, DXD, QID, TWM, FXP

a slow day

fed announced no change on the interest rate today, nothing really happened. overall it was just a day of treading water.

I closed all my option trades yesterday and open 2 today, long call on X and long call on AMZN.

I was kinda depressed all throughout the day, no energy to do anything much less to trade, but the big hammer just too good to miss, standing right on 185, as for AMZN, looks good, just 1 to 1 risk to reward if it moves up to 85, my target 2 is 91.

let's see tomorrow

I2H

Back when the economy was going down, me and two good buddies of mine got together and wanted to start our own business. We joked the name to be I2H, short for 2 Indian guys and one Hong Kong guy.

We never really got off ground because, that seems to be the Plan B or C for all of us, we just did not make it clear.

Well first I(ndian) went for his MBA and landed a job in Seattle, second I(ndian) guy is leaving US for home by the end of June. Chances are he is not going to come back any time soon, since Indian economy is still blooming, he will get a lot more opportunities than here.

That leave the lone H, aka me.

Transition is fun, or kind of sad. People make plans, plans changed. When M transitioned from his old class room this the new one, we were really scared for him. It turned out he learned more in the new classroom and he picked up a lot more social skills.

I have no right to be consulted for my friends' decisions, I am kind of the guy who never wanted sudden changes. On top of that, I can't imagine me leaving Dallas, it took us so long to find the good doctors and places to go. Got our routines down. Yee and I plans to go on in Dallas for a few more years.

Is today the day?

the celtics are leading 3 games to 2, albeit tight games in the Finals, neither team played excellent basketball (i.e. execution, low t/o). Still the most important aspect is to win the championship.

I took a day off from work today, M has dental appt at 11:00 am and D has 4 mos checkup at 2:00 pm. Except for the fact that my body is still very weak due to the stomach flu, it would be a fun day.

ever imagine how difficult a person I can be? I thought about it before falling asleep last night, my answer was I don't think so.

Celtics 3 - losers 2

not much to say, almost a win, almost a championship.

Celtics 3 - losers 1

Paul Pierce can't contain his emotions now. He is shivering. I am too. the mama trio in the commentary box are stunned.

Happy day, since my first day watching basketball in 1987, I have never seen the Celtics win a championship. I guess you never know.

again: Celtics came back from 21 points deficit. Beat out a group of guys who claimed to be a team.

Final score......who care, Celtics lead 3 game to 1

too long, too short

finally I have a balanced portfolio, 3 ultra short ETFs, 7 longs, 2 puts, 2 calls. seems like a side way market is upon us.

market does not reward intellegence

from: D Johnson

1) have a set of rule
2) follow the set of rule
3) ALLOW the trend to make money

>>>>market does not reward you because you are smart<<<<<

Celtics 2 - Lakers 1

should've been a blown out, but it was not, it was almost a win.

kobe bryant was the MVP indeed, so what? he would wish to win every game, but he did not.

many celtic fans wanted to win one game so they can celebrate the championship in boston, I want them to win 2 games, and win the championship period.

trading

"Technical analysis is one of four primary metrics, with fundamentals, structural forces and psychology playing equally important roles in the trading equation." (Article from Mkt Watch)

hmmm, food for thoughts.

never fail indicator

I subscribe to the fact that:
1) no one knows the future, No one period.
2) price is the best technical indicator, then volume
3) trade with the trend

today took a hit, it is not working for the last month. make a little, lose a little, make a lot, lose a lot.

I need to rethink and critic my trades for the past month. Maybe I woon't do anything tomorrow.

today I closed all my calls,
1) ACI <<-- seeing PCX dropped $5 on the get on, broke the confirmed trend line drew.
---after checking my analysis, yesterday the stock hit the target, and it is natural for the stock to roll over today.
2) BTU << broke the confirmed trend line
3) BNI << broke the confirmed trend line


I have opened a PUT on SHLD and keeping my PUT on DIA

Trading is hard. it is not easy money

butterfly --AAPL-- effect

I was watching the price action of ACI, BTU and CLF this afternoon and noticed they all seemed to found a bottom and started to bounce up at the same time.

that time was when AAPL announced that iPhone will be in 3G, and the company's plan for dominating the smartphone.

tempting, looks like I will get a iPhone next.

Celtics 2 - Lakers 0

Good that it worked out!

the lead was 20+ and it dwindled to 2 a couple minutes left.

The Lakers are formidable foe!

finding commercials

abc showed Finding Nemo Saturday, it was actually disney's commercial.  a 100 minute movie took 3 whole hours to show on TV.  every commercial break, it was Wall-E or the little mermaid

theatrical production.  it was a well oiled business machine, I mean the empire of disney.

Celtics 1 - Lakers 0

the seriese is long, let's wait and see, but it was really a good feeling that the Celtics are fighting.

last nite I was....

I heard on the radio that in comes another book about A. Lincoln. the author studied his relationships with his wife and among all the records there were dreams that A Lincoln had.

I wondered if I became famous, would anyone be interested in any of my dreams??

just in case. here is my dream last night.


I dreamed that I had quited my job, went back to college for interior design. I still trade. we had a dorm room furnished with 2 beds one at the corner by the wall and one was custom built around a square pole by the other side of the wall. there was a bunk bed for my kids, felt like they were still small. the decor was not fancy, expected that from a dorm room. I met a guy who also quited his job and now studying architect. funny. I saw tee-shirts with all of the 12 schools of big 12 on it, and people moving from Kansas state with that purple kitten thingy.

then big D woke me up

markt bounced

when I was in Aachen, the center of the city, like most of the European cities, was a big church and the market was just next to it.

the market was called markt.

both SPY and DIA had an harami and the they bounced today. finally I closed my SPY long put I bought on the Fed day as a hedge, lost 2/3 of its value. so much for skillful option trades, I shorted a 139 put, closed that, net long for a few days then shorted a 140 put, closed it. it was just a big wash. I guess I am not much of a thinker, I much prefer directional trades.

so what happened?? I don't know, but when the market bounced up, enter more longs.
clf, unp, bni, mmr, gmxr, rjf, dltr and safm.

don't want to go to school

finally we gave in, we let Markkus stay home and play with his toys instead of sending him to school. neither of us really know why, I guess only Markkus knows but he can't verbalize it, he is only 3!

Daniel was really fuzzy last night, and I was freakingly tired. in comes momny to recuse, gave him some touch of nature. it worked, he slept soon after that.

I slept well too, but like usually I still wake up tired. gotta see our big hands friend to get my spine.