A Few Moves

I sold some additional shares of DryShips INC (DRYS) @ $6.97 for a nice 46% gain. I still have a few shares of DRYS lying around in anticipation of next weeks activity. I also closed out my long position within (XLF) via my May $8.00 call. Originally purchased for $1.40 and sold for $3.40. I'll take a move over 100% anytime!

Straddle May Financials

My first straddle with the QQQQ's worked well, so I decided to push forward with another straddle on the Financial Select Sector SPDR (XLF). I picked the May $8.00 strike price, which should give me more time for the market to decide which direction it would actually like to follow, thus a large up/down swing. It's also trading on lighter volume and right near its 50-day moving average.

Better Blogging

Again, I have become neglectful in updating my blog, so shame on me. I need to be more active and take my time to enter my trades both good and bad. So let's get this thing rolling with my most recent trades and thought process. First and foremost...I closed out ALL my mutual fund positions. This may be an egotistical move to think that I can do it better than "professional" investors, however I want the fluidity to move in/out of stocks. Initially, I did have some sellers remorse because the market had a nice uptick the day after I sold, but overall I am satisfied with my decision.

I know these are a bit historical, but this was my latest trade activity:

* 10/21/08 purchased Dec $15.00 put(s) XJZXO (XLF) @ $1.25
* 10/22/08 sold put(s) @ $1.88

* 10/27/08 purchased shares of U.S. Steel (X) @ $32.27
* 10/30/08 closed out all shares of X @ $38.43

* 10/01/08 purchased shares of Vasco Data (VDSI) @ $9.98
* 10/03/08 purchased additional shares of VDSI @ $9.10
* 10/31/08 closed out all shares of VDSI @ $11.33

My general thought process moving forward is to focus on energy and industrials. I will also look at getting into some options on the larger indexes.