Trade Activity 8/23/11

I took advantage in the recent market drop-off to pick up some additional shares of U.S Steel (X) at $25.83 and entered into a new position in Vale S.A (VALE) at $25.76.

Storm Watch

I was sent home early today due to the storm that hit the Denver area, so I picked up my kids and closed out some positions and sold some covered calls.

*Closed my entire position in the SPDR's Gold (GLD) at $92.27 for a 5.5% profit

*Closed my entire position in iShares FTSE/China 25 Index (FXI) at $30.07 for a 19.4% profit

*April $20.00 calls on Chesapeake Energy

*April $30.00 calls on U.S. Steel Corp

Hopefully the weather will stay around, so I can get in some more trading tomorrow.

Double Shot of X

I doubled up on my shares of U.S. Steel (X) and will now sit back and observe the market for a bit. It will be tremendously hard to sit on the sidelines, however I feel I am well positioned in stocks that will thrive going into the future.

New Purchases

I've been watching both of these stocks fall over the last few days and felt that I was being offered a great opportunity. Yesterday, during intraday trading I picked up some shares of U.S. Steel (X) and Citigroup (C). To be completely honest, I have more faith in the U.S. Steel play, while the Citigroup is more of a pure speculative play.