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Trading results 4/14/10

I made some late night trades with futures and some very early trades this morning as well

I ended up running late to the office as I wanted to be short the 30 yr bond but it started moving past my entry I did not leave the house. As it turns out it was the peak of the day but I end up closing out early. Late last night I traded the Canadian dollar which I like long term but I also think near term it may be due for a retracement. I shorted it a couple of times but there was enough buying that it would not give up anything today so I ended up walking away when I was stopped out with a very small gain. Took a loss for the day but NAV is higher today as MEE and options related did well. I am and will be watching UPS tonight and the open.

BTH opened near the HOD yesterday and kept going higher. Volume has dried up so I hung on thinking that if there is no volume to keep it going it will retrace. I did finally do so but not meaningful until late although I was able to trade it back and forth a few times which accounts my my loss. My current basis is almost right at the closing and I will be looking for a drop in price tomorrow. I became somewhat aggressive in shorting at the 54.75ish area and that worked out well short of one problem. I tried to hit an offer for a small cover of 100 shares at about 54.48 with the idea of then offering it out at 54.85ish area and I lifted 300 shares instead. I quickly was able to reshort another 100 shares at 54.59 but became a little conservative and tried to get over 54.60ish for the second 100 shares to balance out where I wanted to be. Right about then is when BTH fell off the cliff I had been waiting on all day and went under by basis and I covered some more on the way down. This should be a good one tomorrow especially if it gaps down but either way I expect to pull a nice gain out of it. Still short enough shares to take a gain that I was looking for. – 487

C covered some C today. I sold at 4.85 which appears a little early based on a price of about 5 in after market trading but I am still long and would like to pull a little off the table going into earnings. This is moving like earnings are going to be great and anything less may put some pressure on it. I will be watching to see if it comes back and if so I will add again as I have done many times with C over the last few weeks. + 119

CETV B8 unqual that broke support trendline and shorted it. I also shorted again when I was willing to hold overnight but only had a few shares lifted so I just took a small gain when it game back in the last minutes of trading + 88

LVS news + 27
MEE covered 100 shares at a loss and now actually a little over covered (less an odd lot of shares) with options. Price moved above my last purchase price and I was either going to cover so shares or sell another call option for friday and decided to just take some off and I could add it back on with a price drop. will be looking to roll over some of the options like the apr 47 calls tomorrow depending on price action. if the stock doesnt go anywhere the time decay will reach a point where the option is no longer protecting from a down move and I will probably roll over to either the next month or to a lower strike price exp on Friday. – 58

PALM, news and long but with very tight stop loss which turned out to be a good thing. + 53

RDN + 4
YUM after market trading. Not very happy that I didn’t hit this a lot harder over 43. stock was clearly priced for good earnings so when it moved over 43 I only shorted 100 shares. I will be watching it at the open but it appears weak already so I am unsure if it will be able to make a run higher tomorrow or not. + 54

ZB 30 yr futs + 17 (frustrating)

ZION + 12

- 170