I'm still not clear on markets. Some are just too high to get in and some look as if they are going to die, but keep rallying. Most of all, I'm holding two losing long term trades, so I rather not do anything because I really have to manage my position trades. I might move some of my day trading account funds to swing accounts.
Soybeans and soy meal spread:
It's against me about -$6K (from spread of $27000). I was going to add another position at -$5 or ($32000), but I decided to wait due to roll over this Friday. I might as well establish a new position in May contracts.
Lumber:
Lumber went as high as 237 last week, but now it's around 221. I have 240 and 220 puts. What I'm hoping for is to have the 220 puts expire worthless ($770 profit), roll over the 240 and look into sell a May 210-ish put. Lumber's margin is about $1K, which is small, but it'll help me carry the spread trade if it expires worthless.
Rewards are high on position trades (not swing), but also it takes tad long. I've been doing okay on day-trading. So far this month about +$1K besides my full time job, but I feel that I'm over-trading, so if I move money to swing accounts, it'll prevent me from day-trading any more, which is what I want, at least for Feb.
Tuesday, February 19, 2008
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