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Posts Tagged With 'trade adjustment'

Posted by Martin April 17, 2013

Trade adjustment – Gold (GLD) addition #2

Trade adjustment - Gold (GLD) addition #2

I am posting this trade a few days later than when I actually opened it. If you want to see my trades earlier, you can do so on my Facebook page, where I typically post my trade at the same time when it happens.

Yesterday I added a few shares of GLD into my portfolio as Gold suffered a huge sell off. Some analysts call it the biggest sell off in Gold history. Although many of them predict further drop in price of the yellow metal, I decided to take a trailing buy price approach. Last Friday I entered a conditional order, which didn’t materialized and on Monday I lowered the price. The trigger fired yesterday and I bought 7 shares of GLD. You can see the trade history on my Facebook.

I wrote in my older posts and on Facebook that I believe that this sell off is an overreaction of investors once again, caused by panic and stop loss triggers.

I added shares to my portfolio:

04/16/2013 09:44:52 Bought 7 GLD @ 134.43

If the stock continues falling as is predicted by some, I will be adding more shares.

Posted by Martin February 20, 2013

Trade adjustment – Gold (GLD) addition

Trade adjustment - Gold (GLD) addition

Today I added a few shares of GLD into my portfolio as Gold suffered a huge sell off. As I wrote in my previous post I believe the today’s price action is an overreaction of investors, most likely responding to (outdated) report from Sorros Fund Management.

As I wrote I believe GLD indicated a bearish exhaustion as is due for reversal. Let’s take a look at charts:

First take a look at 5 year chart, which nicely shows the new support line formed in October 2011.

Gold 5 yr chart

(Click to enlarge)

The red horizontal line indicates the support at which I originally placed a trigger buy order ($151.60 a share) and honestly I haven’t expected the price ever touch this level again.

Following is the 6 months daily chart:

Gold 6mo chart

(Click to enlarge)

In this chart you can see a very extended bearish candle and trippled volume. In my opinion this is a bearish exhaustion and we may experience a rebound. This price action also triggered my buy order today and I added shares to my portfolio.

02/20/2013 14:05:43 Bought 6 GLD @ 151.6

This trade lowers my cost basis in GLD from $164 a share to $160 a share.

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Posted by Martin January 03, 2012

New trade – ATI; Trade adjustment – SLB

I am going to open a new contingent order:

Allegheny Technologies

Long Puts

Contingency:
If the stock’s last price is greater or equal than 54.20 then:

BTO 1 ATI Apr21 2012 55 Put

Price: at market (expected price per contract would be $6.2)

Max risk: $620
Max gain: Unlimited (potential target: $11.70 or $1170 per contract)

Update:
01/06/2012 – trade canceled, it didn’t meet the entry price

I am also going to adjust the following position by rolling up the upper body of the butterfly:

Schlumberger

Put Butterfly

Unfortunately my broker doesn’t allow me to roll over with one order, so I have to close the upper body first and then open higher part later:

1st step:
BTC 2 SLB Jan21 2012 60 Put
STC 1 SLB Jan21 2012 65 Put

Price: limit credit $0.25

When filled, 2nd step will follow:

BTO 1 SLB Jan21 2012 70 Put
STC 2 SLB Jan21 2012 65 Put

Price: limit debit $0.93

This trade will be taken on both my accounts: TD trading account and ROTH IRA account.

Update:
01/04/2012 – I talked to my broker and they do not allow me to open an uneven butterfly, so I would need to treat it as spreads. For that I do not have enough money on my account and thus I cannot finish this conversion. Thus I am considering this trade as closed with a loss.
I sold the upper body for credit $0.23, with the original cost of $0.78 this trade is a loss 70%