The market today showed some showed only small movement with the Dow, Nasdaq and S&P remain relatively unchanged (save for some slight ups and downs but going back to yesterday's closing) even after 1.5 hours. A marked contrast from yesterday.
What this implies is that it took longer to open new positions today. Today is the first time I made a mistake for 2010 and succumb to small losses of about US$60 (on OIH) and 1 trade resulting in a breakeven (POT).
Nevertheless, I was relentless and tried to observe any other big waves and ride the tide. True enough after some preseverance, I opended new position on PCLN, but in the haste of opening new position (NEVER NEVER DO THAT!!!!!) I fail to notice that PCLN had a price margin of about 60 cents, which is rather high, you should be looking at a max of 30 cents
RIMM also made an unimpressive 20 cent profit.
However, the Jewel for the night goes to OIH. After making loss on put for OIH and realising market went U-turn, I closed PUT position at a lost and bought call option, to which I held on till a 40 cent profit was achieved. The LO and BEHOLD, it came a tumbling down again, and subsequently bought put and it made an 80 cent rise before I closed to sell.
Overall, here was my trade analysis for the evening (tonight's trade took about 1.5 hours)
Total realised net profit was US$2,183 or 6% after commission charges.
Fyi, I close all my positions before I retire for the night. Therefore all of these are "realised" profit. All of these are virtual trade and I am awaiting some funds in order to start real trading.
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