EODR Friday 8-31

We did not sell because we are bearish on the market. We sold because we wanted to lock-in our gains. Many a times we've made the mistake of holding our position for too long, causing our hard-earned paper profits to slip though our fingers. It's a terrible psychological blow that negatively affects our trading for days afterwards. We couldn't take the chance of that happening again.

We will be looking to buy SPY calls again next week.

edit: order status screenshot added

Account Update

• Starting Value: $100,000.00
• Current Value: $150,675.72
• Account % Gain: +50.67%

Analysis


Positions


Balance


Activity


Order Status

Selling Everything

We are selling everything. It's time to cash in.

EODR Thursday 8-30

Account Update

• Starting Value: $100,000.00
• Current Value: $129,129.43
• Account % Gain: +29.12%

Positions


Balance

EODR Wednesday 8-29

The weakest link in our portfolio is Vertex Pharmaceuticals (VRTX). It's an excellent stock - we have no doubt that it will skyrocket in the future - but stocks are too conservative for what we need to accomplish. Our focus needs to be on stock options. Vertex Pharmaceuticals will be sold soon.

Account Update

• Starting Value: $100,000.00
• Current Value: $117,754.57
• Account % Loss: +17.75%

Positions


Balance


Activity


Order Status

Even More SPY Calls

32 additional SPY SEP 146 Calls (.SFBIP) have been purchased @ $3.10.

More SPY Calls Purchased

69 SPY SEP 146 Calls (.SFBIP) @ $2.85

SPDR S&P 500 (SPY) Calls Purchased

We have purchased 31 SPY SEP 145 Calls (.SFBIO) @ $3.30.

Vertex Pharma (VRTX) Stock Purchased

We have purchased 541 shares of VRTX stock @ $36.94.

Foster Wheeler (FTD) Calls Purchased

We have purchased 116 FWLT SEP 115 Calls (.UFBIC) @ $4.30.

Beginning of Account

Screen shots showing the beginning value of the account.

Positions


Balance

The ERC is Back

We are back, and we have a new goal.

Our goal: to double our money by the end of September. That is 33 days from today. Fewer if weekends and holidays are taken into account.

This goal is crazy, so we have decided not to risk real money. Instead, we will be using play money through OptionsXpress.com’s appropriately titled Virtual Trade tool. The Virtual Trade tool is very realistic - it uses real-time market data and takes volume into account when filling orders.

To assuage any thoughts of foul play, we will be posting daily screen shots of the account’s standing and highly detailed profit and loss information on each of our trades for you to scrutinize.

Granted, the stress of risking real money can not be simulated, and, therefore, this exercise isn’t completely realistic. But that’s a lame point, for doubling the value of an account, whether it be real or fake, is something few can do no matter the amount of time.

A test of skill. 33 days – 100% profit. Can we do it?