My Life My Trade

BOT them here for $1.70 –29% profit after commissions

Ags are sporting a dead-cat bounce and are running into overhead resistance providing a nice shorting opportunity again. The downside target will be lower than the most recent low.

This is a position on which I am willing to take quite a bit of pain as I believe that we will see much lower prices on Ag stocks before July Opex.

Other stocks in this sector that I sometimes trade are MOS, POT, CF & AGU. For some reason, I have had better luck with IPI in the past and I am sticking with it.

SOLD PALM Jul $16 puts @ $1.20

MANAGED Positions in GS Jul $145 puts to get an average price of $3.62

MANAGED Positions in GDX Jul $39 puts to get an average price of $1.08

SOLD RIMM Jul $70 puts @ $2.73

MANAGED Positions in QID Jul $32 calls to get an average price of  $1.23

SOLD BIDU Jul $270 puts @ $3.30

BOT USO Jul $38 puts @ $1.20

BOT OIH Jul $100 puts @ $3.40

MANAGED positions in TZA Jul $22.5 calls to get an average price of $1.57

MANAGED positions in ICE Jul $110 puts to get an average price of $3.00

BOT IPI Jul $29 puts @ $1.70

Stopped out.

BOT them at $2.33 yesterday. Net 9% profit

Stopped out.

BOT them for $1.85 yesterday, 20% profit

Another one that is very oversold and should sport a nice oversold bounce. $40 is a good strong support and should hold. $49 is the resistance up above. $6 upside potential and $3 downside potential from where I entered ($43 mark).

Same sector as MOS – nicely oversold. Looking for a bounce back up. Entered calls at around $24.50 price level. Downside limited to $23. On the upside, I am looking for $28.50 – $29 level.