Saturday, April 16, 2016

Weekly: frustrating losses

Another up week for me. I take frustrating losses in CMG and FB this week. Chipotle dipped then recovered. Facebook fell on news, and then the news was retracted. New long is JPM on earnings news.

Tue Cover CMG Apr 430 p 450 about a 100% loss
A painful trade. My first order to close was at 385 but CMG kept slipping, so I moved it to 450 and it filled. A minute later the low of the morning was made and CMG rebounded. CMG actually closed up. The big picture is that Chipotle has been a lucky stock for me. This time, I didn't wait until the mental stop level of 430 because to preserve an overall profit for the ticker for this cycle. If my worst trades are small profits or break even, it is going to be a good month.

Wed Sell JPM May 55 p 21 New long position in JP Morgan, moving higher after earnings

Sell SPY May 190 p 48 rebalance
Sell IWM AprW5 p 103 16

Cover FB 107 p 155 Facebook lower on news, about a 600% loss. Facebook has been a bad luck stock for me most of this year, so the bad streak continues. FB closes about unchanged after the sharp drop. Cheese.

Sell MON May 80 p 57 rebalance
Sell VRX May 15 p Valeant opens lower then rebounds. I am impressed by the tape action.

Sell FB May 130 c 30

Thu Sell FB May 90 p 47 complete FUBAR on Facebook as the news that caused the drop was retracted. Nothing to be done except move on.

Sell TSLA AprW4 230 p 80

Fri Sell DPZ May 120 p 55

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