Tuesday, August 21, 2012

Running training status/results

Wednesday Sept 11, 2013

  • 2.4km run (~1.5mi) - 18mins 28secs (walked some!)


Saturday Sept 7, 2013

  • 5.04mi - 1h4min


Monday August 20th, 2012
  • 12 minute jog - finished 2nd to last
  • Circuit training - very difficult, couldnt complete all, but did most
Tuesday August 21st, 2012
  • Recovery run - ran 3 miles (39min) at constant pace without walking (1st time and felt good)
Wednesday August 22nd, 2012

  • 10 minute jog - finished 2nd to last
  • Training - tired out but completed
  • 2.4km run (~1.5mi) - 18min (last place)
Thursday August 23rd, 2012 : Skipped
Friday August 24th, 2012: Skipped
Saturday August 25th, 2012
  • 5.04mi - 1h7min (13.29 min/mi) - slow
Sunday Aug 26, 2012: off day
Monday Aug 27, 2012: Skipped :(
Tuesday Aug 28, 2012: Skipped :(
Wednesday Aug 29, 2012: Skipped :(
Thursday Aug 30, 2012: Skipped :(
Friday Aug 31, 2012: Skipped :(
Saturday Sept 1, 2012

  • 2.9mi 39min - slow (walked/run)

Sunday Sept 2, 2012: off day
Monday Sept 3:, 2012

  • 10 min jog
  • Circuit training - did almost all, but very difficult second round

Tuesday Sept 4, 2012: Skipped
Wednesday Sept 5, 2012
  • 16 minute jog - finished ahead of 3 people
  • Training - couldn't do whole thing
  • 100sec run/60sec x7 - very tired at end
Thursday Sept 6: Skipped
Friday Sept 7: Skipped
Saturday Sept 8
  • 7.35mi - 1h41m - (finished poorly, walked too much - 13.74 min/mi)
Monday Sept 10, 2012
  • Hill training - sprint up and walk down (finished strong, very tired)
Tuesday Sept 11, 2012

  • 2.85mi 32.30 - 11.40 min/mi - fastest ever in nh (walked some, need to run all!)
Wednesday Sept 12, 2012

Monday, January 19, 2009

New RULES!

Another year, and a new set of rules. Hopefully it will not be another set of rules that I do not follow but should have (but if I don't, at least Ill be consistent).

  1. I am not good at buying and trading stocks. I have been lucky to find some winners, but I always end up taking much too large losses on the losers and always give back my winnings. This does not mean I will stop trading. This just leads to point 2
  2. Do what works for me. I have been successful in trading options. Specifically Covered Calls. I truly believe it is possible for me to make 7-11% in a month. This is the strategy I am going to follow. This strategy will provide returns greater then I have ever produced, even in my best year.
  3. I need to have an exit strategy when the underlying stock drops. This is something I have not yet mastered. I have trouble selling at a loss and still end up doing so only after the loss is much greater. I need to find the loss price point at which to buy back the call and sell the stock.
  4. Do not get greedy (this should be number 1). This is the rule that I always break, and always kills me. With this new strategy, if my funds are used up, I cannot dip into margin no matter what. I have done so before, and I will do so again, but I must do my best to stop.
  5. Hold NO stocks. In an ideal situation, after option expiration, I want all my calls exercised. Those that are not, I must consider selling immediately or sell another set of covered calls, provided the returns still provide the results I am looking for. Taking a loss against that months gains is acceptable, and likely to happen. I must accept this fact and deal with it.
My plan is a very realistic plan. When I say I want to make 10% returns a month, I am really saying that I want to sell enough covered calls, that I have produced a 10% return for that month. That does not mean, at the end of the month, I must have 10% profits. I just means that if all the calls are called, then the most I will make is 10%. I can still have calls that expire worthless and thus own the security at a loss. This will deduct from my gains and I need to sell the security at a loss or another covered call. But the goal is to have a 10% potential setup per month.

Good trading in 2009 to anyone reading this!!!!

If there is any interest, then I will also post a link to all the trades I make in this year for anyone to follow. Just post a message.

Sunday, January 4, 2009

The End - Michael Lewis

The following is a synopsis of an article by Micheal Lewis titled "The End". It describes the end of Wall Street as we know it. It a good article and can be found at:

ttp://www.portfolio.com/news-markets/national-news/portfolio/2008/11/11/The-End-of-Wall-Streets-Boom#page1

- this blog is more for me to better understand and remember what I have read (special thanks to KB for sending me this article)

Michael Lewis (ML) began his career at Salomon Broths. in 1985 with no experience and left in 1988 with a lot of money. He left due to his belief that things were being manufactured and could not continue in that manner (he wrote a book - Liars Poker - detailing his experience).

Things were able to continue, contrary to his beliefs for 20 years.

In Oct 31 2007, Meredith Whitney, an analyst for Oppenheimer Securities, declared Citigroup was in such bad shape it would need to cut its dividend or go bust. And not just Citi, but almost all bankers had mismanaged their clients money incompetently.

ML claims hers comments brought Wall Street down. It is difficult to prove or disprove this; In Jan of 2008, the markets headed lower (slowly) until their eventual plunge in Oct 2008.

M Whitney had been trained at Oppenheimer by analyst Steve Eisman (SE), and it was SE who saw this coming and was able to make money from it.

SE was an analyst at Oppenheimer from 1990-2001 where he learned of the subprime mortgage mess and how badly companies operated and truly they were worth. In 2004 he joined FrontPoint Partners (a hedge fund), and worked with others (Vincent Daniel, Danny Moses) who shared his bleak opinion of wall street.

In 2000, there had been $130 billion in subprime mortgage lending, with $55 billion of that repackaged as mortgage bonds. But in 2005, there was $625 billion in subprime mortgage loans, $507 billion of which found its way into mortgage bonds. FrontPoint attempted to short companies that originated subprime loans, like New Century and Indy Mac, and companies that built the houses bought with the loans, such as Toll Brothers. However, these companies paid good dividends, so shorting them was costly.

In 2005 Greg Lippman (a mortgage-bond traderfrom Deutsche Bank) found a better way to short these companies. Sell short not New Century’s stock but its bonds that were backed by the subprime loans it had made. This used to be impossible to do, but Greg and others had created a way to do just that. Deutsche Bank and Goldman Sachs sold credit-default swaps, and these were, in effect, a better and more importantly, a more comprehensive way to short these companies.

And the mortgage companies continued to make loans to anyone, but how were they able to sell them to others to continue this growth. The loans are broken into various groups with AAA being the best and BBB being the worst. What was eventually done, was the BBB loans were turned into AAA loans. The rating companies like S&P, Fitch, and Moody's were all doing this.

From the people who originate the subprime loans, the fund managers who invested the mortgage bonds, the agencies that rated them, and the bankers that repackaged and resold them, a cycle of greed had been created.

But there were more buyers of these repackaged loans then there were actual loans. And so the investment banks who were selling the shorts to companies like FrontPoint were then selling out the loans again (a reverse naked short). The money from the short sale was used to pay the interest of these loans, and also used to create more loans to repackage. This caused any defaults in the loans to aggregate one hundred times over.

SE shorted the mortgage originators and home builders, and then the rating agencies and big banks (Merryl, Morgan Stanley, Lehman Brothers). A newsletter in wall street circles, Grants Interest Rate Observer, confirmed SE opinions, but still not many listened.

But it all came to a head in September when the Investment banks began falling. Most of America and the world would soon lost most of its savings and net worth.

Most except those like Steve Eisman.

Wednesday, September 3, 2008

Antivirus XP 2008 Virus

So this is off topic, but hopefully someone will find it useful, or I may need it again to remember how I fixed it before.

Anway, a virus got installed on my machine. It basically installed an application called Antivirus XP 2008. I was able to manually delete the files that it installed and remove it from the start menu and desktop.

But this darn thing also installed itself in my \windows\System32 directory. I was able to notice the suspect file by looking at the files by date and I noticed a few that were created when I got the virus:
lanmanwrk.exe
KernelDrv.exe
kcopt.dll
Dll.dll
ikhcore.cfg
ksvcl.dll

Also I noticed a driver file (Winlt17.sys) that was in the \windows\System32\Drivers director

Some of the files in the System32 directory I could delete but I could not delete some of them nor could I delete the driver file (Winlt17.sys). Even in safe mode, Windows would load it upon startup and so the file would be locked. I kept getting warnings of applications trying to access dll.dll from my spyware application. I could also never delete the registry settings that pointed to the Winlt17.sys file. I was able to delete the other registry settings to the other files, but after a few minutes they would appear back in the registry.

Finally after trying many options, I found a very useful site: http://www.slax.org/

They provide a bootable Linux CD that I used to boot my PC. Then from Linux, I went to my hard drive and manually deleted the files. Then when I booted into Windows, I was able to delete the registry settings that pertained to those files.

Now I am no longer getting any warnings from my spyware, nor are there any files appearing in the System32 or System32/Drivers directory.

Another thing that was done to my machine was that my screen saver tab was missing. The Antivirus XP 2008 software replaced the background with its image and disabled the Screen Saver tab. I found out that I needed to change the registry setting:

[HKEY_CURRENT_USER\Software\Microsoft\Windows\CurrentVersion\Policies\System]
"NoDispScrSavPage"=dword:00000000
I spent much time on this, and so I hope this helps someone else.

BTW, the application "Antivirus XP 2008" links to a site. When I did a whois on that site, it shows an address of someplace in Russia. If I ever visit Russia, I will definately make a visit there.

Sunday, August 24, 2008

AMD Leaps

I have tried an approach, where instead of buying the underlying stock, I instead buy the leaps. Then each month, sell the calls and get a greater % return. I did this with AMD, but things have not worked out so well. Here is my record so far:

20080310 - Buy 201001 $5 @ 3.29

20080424 - Sell 200807 $5 @ 0.28
20080821 - Sell 200810 $5 @ 0.30
20090512 - Sell 200907 $4 @ 0.89

Current leap cost: 3.29 - 1.47 = 1.82
Current leap value (20090512) $1.00
So I am losing $.82 or -26% (ouch)

Thursday, July 31, 2008

Track Record

Keeping track of things is getting a bit messy so here's my first attempt:

PCX - 142.53
July 125 - 8.40 - .75 = 7.65
Aug 125 - 8.70
(Current break even at 126.21)

DRYS - 84.25
Jul 90 - 5.50 - 0 = 0
Aug 85 - 3
(Current break even at 75.75)

Tuesday, July 29, 2008

HANS Pummeling

What a beating! I broke my rules and now paying for them. I bought HANS because they were fetching 9% returns on the month out calls. I got even greedier by holding this stock hoping I could sell the calls higher on any price movement up. Of course the stock tanks and now I am stuck with it. Well, now my strategy is to simply keep selling calls until I can average my loss down to $0 (Provided the stock stays relatively flat or goes up). So heres the breakdown of events:

2008-06-24 Buy HANS @ 32.41
2008-06-26 Sell July $30 Calls .90
2008-07-22 Sell Aug $30 Calls .95
2008-08-18 Sell Sep $30 Calls 2.30

Current break even price: 28.26

Notes: As soon as my break even price drops below 30, I will be selling the $25 calls (unless I get greedy again)!

Sunday, June 22, 2008

June Results

RIG 158.15 - 155 - 9.10 = 5.7%
DRYS 92.50 - 90 - 11.00 = 11%
AMAT 19.75 - 20 - .80 = 5.3%
POT 202.98 - 200 - 15.50 = 6.2%

Wednesday, April 30, 2008

Roth IRA

I have a Roth IRA that I am doing nothing with. It has only $1164 and it is difficult to get motivated to play with this account.

But this money has done nothing for a long time and it is a good place for me to try out this options strategy. My goal for this account for this year is to make $1469 ($305, 26%). I will play with 2 month out options hoping to make 6% every 2 months compounded bimonthly. I will update this particular post with my trades to show how I am doing. This account is even harder for me to make good returns as the commissions on such small trades take a large % of my profits. But I want to prove this to myself.

2008-04-30 Sold 2 AMD June Puts for $.40 – I should make $80 provided AMD does not drop below 6, and should not lose money provided AMD does not drop below $5.60
2008-05-16 Bought 2 AMD June Puts for $.07 - I was planning on waiting till these expired in June but they dropped so much so quickly that making .07 ($14, 1%) more for another month did not make sense. So I made $66 - $16(commissions) = $50,4.3% in 2 weeks
2008-05-20 Bought 100 AMD for $7.16 - I was planning on immediately selling the call, but I got greedy hoping the stock would go up, and then it dropped, so now Im stuck holding the stock
2008-06-05 Sold 1 AMD June Call for $.80 (Jul 7) - Hopefully I can make $64 here
2008-07-01 Sold 1 AMD July Put for $.55 (Jul 6) - make $110
2008-07-21 Buy 100 AMD for $6.00 - A result of an assigned Put that I did not want
2008-08-21 Sold 2 AMD Oct Call for .60 - make $120
2009-05-12 Sold 2 AMD June Call for .30 - make $60
2009-09-15 Sold 2 AMD Oct Call for .37 - make $74
2009-11-19 Sold 200 AMD for 6.79 - make $42
2010-02-10 Buy 100 ITMN for 15.60 - lose $310
2010-02-10 Sold 1 ITMN Mar Call for 5.90 - make $590 (actually $280 due to above)
2010-05-22 Exp STEC Call for .43 - make $34
2010-08-23 Exp STEC Call for 1.45 - make $137




Current Value: $2006
; Current Gain: 2.2%; Goal: $1469; Needed: $26

My POT experience

So I was looking for a good options play and I discovered Potash (POT). Its a fertalizer company that has been running up like mad. I bought it at 198 and immediately sold the next out 195 calls for $15. I was hoping to be called out on these for a $12 dollar profit or 6%. But first the thing takes off to 210 and Im thinking I got the Midas touch, but then it tanks to 180 so what to do now:

If the stock closed like this on expiration day, I would lose 3 dollars (198-15-180).

The call was now trading at $5 which if I had bought back would bring my average price of the stock down to 188, and the 180 calls were selling for $8. I could do this and safely get out of the stock with nothing. Or I could sell the 185 calls for $10 and hope to make $7 or 3.5%.

So what did do... Nothing as I did not plan for this and things happened quickly. Now the stock is trading at 184 which is fine with me.

Actually I really like the premiums on this stock, and so if they do not get called that is preferred as I can sell the next month out calls and hopefully make another 7%. But this strategy relies on the fact that POT must stay at this range and not drop much further. Because if it drops, my loss will be larger then these gains and I will end up with a net loss.

But the wild swings on this stock explain the nice premiums the options are getting.

Lets see how this turns out.

Wednesday, March 26, 2008

10% just like that (actually %6.5)!

So my stragety of buying leaps and selling the short term calls on AMD is not working out correctly. The problem for me is that I did not have a plan as to which calls I should sell, as I did not want to get called out and lose any money.

The safer approach would be to by the shares outright and then sell the calls. But my returns (%) would be much lower and would require much more cash.

But that is the safer approach and one that I am more familiar with, so that is the way I should try this approach, and then move to holding leaps instead of the asset.

I just tried this with DRYS. This stock is very volatile and that is what is needed to get the premiums to make a good return. I 100 shares at $62.5 and immediately sold 1 $60 April call for $6.50. That means I recieved $650 for a &6200 investment. 10% right off the bat. If the stocks stays above $60, I will be forced to sell my shares at $60 (a $2.50 loss resulting in a net gain of $400) resulting in a %6.5 gain. That is not bad for 1 month.

If the stock drops below $60, then I keep the shares and the money from the call, and I reduce my purchase price of the stock by $6.50 to $56.50. So as long as the stock does not fall below 56.50 by April 18th I should make money anywhere from %0-%6.5

Friday, March 21, 2008

Dorfman revisted

Its been a while since I posted. Much has happened, and I've been very busy. I consider myself very lucky, as I had been eying BearStearns for a while now, but luckily I did not get in. Wow, the 5th largest investment company in the US is basically insolvent. We are in a lot of trouble.

From what I understand, they have been in a 1:30 margin with their bets on these mortgages. Now all that money is gone, and so it appears is the company.

I wonder if my accounts at my brokerages are in trouble. I will have to look into that.

Anyway, Dorfman was big on BSC and he must have gotten killed on it. But he is back with a new set of picks, and I wanted to note them to see how they do:

CMC - Commercial Metals
OSG - Overseas Shipholding Group
AZN - Astrazeneca
COLM - Columbia Sportswear
DVN - Devon Energy
GS -Goldman Sachs
MTN(short) - Vail Resorts

Wednesday, January 9, 2008

Dorfman picks

I really like the analyst John Dorfman who used to write on Bloomberg before creating his own investment company. I found the following info from him regarding some picks on Sept 5, 2007:

Sept. 5 (Bloomberg) -- John Dorfman, chief investment officer at Thunderstorm Capital, talked with Bloomberg's Pimm Fox yesterday from Boston about the performance of Bear Stearns Cos. and his recommendation of Schnitzer Steel Industries Inc., Encore Wire Corp., and St. Mary Land & Exploration Co. (Source: Bloomberg)


On 9/5/2007 - today - gain:
BSC: 108.95 - 74.21 - 32%
WIRE: 26.34 - 15.84 - 40%
SCHN: 60.38 - 56.13 - 7%
SM: 34.53 - 37.53 - 8%


Wow! Seems as though my analyst is a very bad pick. Nonetheless, he picks stocks with strong cash flow, consistent earnings, and those that have been hit for reasons that they should have been. Seems like he picked these a little early. In any case, I want to go over these stocks and perhaps enter into them on any movement up.

Tuesday, January 8, 2008

Follow your rules!!!!

Its truly amazing how things can change in a week. The market has tanked and we are now in a bear market.

I was clearly given many opportunities this week to get out of many of my positions will a small loss and even some gain. But my fear, greed, and uncertainty caused me to break my rules and give up much of my profits that I had made last year.

I will be putting in very tight stops, and will most probably be stopped out of many 0f my positions with a loss for this year, but its a lesson I must accept. Too many times I have broken my rules and as a result given back quickly what it took me a much longer to make.

It is because I feel like I cannot make mistakes, especially after a good run, and it always takes a good kick in the butt, like this, to get me back on track. But this is an expensive lesson to learn and obviously I have not learned it as I have repeated my mistakes.

So, for this year, I will be trading heavily, but after each executed trade I will enter at least a 5% stop, and I will not add to my position at a lower price than my purchase price (or average purchase price).

I WILL follow for this year, if for no other reason, then to see if it does indeed help me out.

For the way I trade, and my emotions on the market, I feel bad when I leave money on the table. But I feel real bad, when I lose money that I have made.

Monday, December 24, 2007

Me vs SP500

Okay, so I have been trying to analyze myself versus the SP500 for some time now, and due to the fact that I've had a number of accounts, I'm constantly adding and removing funds, and some laziness, I've finally come up with some preliminary numbers. But these numbers do not give a complete picture. When I first started, I was playing with a much smaller portfolio than I am now. And there are some years where I needed to reduce my leverage. Actually, I consider myself very lucky in that during my worst year, I reduced my leverage the most. So even though the % loss that year was very high, it was a smaller (but still substantial) loss of my net balance.


Year SP500% Me%
1994 -1.56 -
1995 34.11 0
1996 20.3 7.2
1997 31 19.3
1998 26.7 0.4
1999 19.5 73.9
2000 -10.1 31.7
2001 -13.1 8
2002 -23.4 -19.6
2003 26.4 -42.5
2004 9 35.5
2005 3 -22.9
2006 13.9 41.6
2007 3.6 29.9

Monday, December 10, 2007

My First Call Option

My AMD trade was against my rules and I am losing because of it, but I have decided to try out the ability to sell calls with this position.

Basically I bought in at 9.34. I then sold the Jan 18th calls at $10 for $.47. What this means is I give someone the option of buying my shares on Jan 18th for $10, and they pay me $.47 per share for that privilege. What this does is bring my share purchase price down $.47 to $8.87. If the stock trades above $10 on exp day then I make $1.13 per share, but I lose any money above $10. Actually I dont really lose that money, but I lost the potential to have made that money. If the price is below $10 on exp day, then I keep the $.47 and my shares.

The drawbacks here are 2 things. I've essentially locked my shares until they expire (or until I buy the calls back) and I do not protect myself from any downside drops in the stock price.

But the way I look at it is like this: I was only looking for a small gain in the stock, so if the stock trades above $10 on exp day, then chances are that I would have sold it anyway and not made that potential gain. Also, I do not plan to sell this at a loss, as I believe this stock will not go too much lower.

So basically I am giving out a loan to somebody on these shares. At 9.34 a share, a .47 option results in %5 for 40 days. That is actually very good. This seems very simple, but at least I have made the trade, thus forcing me to start understanding this technique. I need to understand what portion of the amount is the time value, and what portion is the implicit value (I think this is all time value since the option is currently out of the money). Also I need to undestand the time decay to get an idea of how much the time value will decrease.

Lets see how this works out.

Wednesday, December 5, 2007

Ohhhh noooo FFOX, I mean AMD!

Those who cannot remember the past are condemned to repeat it.

I made the same mistake on FFOX that I did with AMD. Not researching and waiting. This is because I had cash available on my OSG exit. Now I am stuck as I dont want to sell at a loss.

Perhaps I need these types of trades to keep me in check and remind me of how I need to follow my rules.

Another trade that is setting up is RIG. This is another driller in the oil services group. It is one of the biggest drillers and recently acquired another driller making it the largest by far. The PE of this newly combined company is around 10. Before the acquisition, it was trading at a PE of 16 and the other at a PE of 12. Analysts prediction indicate that it should be trading now around a PE of 12. Also, they are estimating earnings next year of $14. That puts a price target (at PE 12) of 158. Currently it is trading at 126 (dropped 3 dollars today). It has just dropped a lot due to 1.5billion in notes it has offered to banks (that is another great scam the banks have going). If this thing retraces back to 130 I will get in, but I will put in a +3 dollar leading limit to buy (once I am able to get out of AMD). Lets see if it works out as se

Tuesday, December 4, 2007

AMD Anyone?

One of my very first trades was FFOX. This was before the internet explosion and I was calling in my trades, but I bought this stock simply because it had dropped over 50%. I knew nothing about it and bought assuming that it would have to back up after dropping so much. The company eventually went bankrupt and I lost my entire account as I used all funds to buy it (luckily I didnt start trading with too much money, but it was a lot for me at that time of my life).

Well I feel the same way about AMD. Down 30% this month alone. There is a lot of bad news associated with this stock, but I dont think that justifies that large of a drop. This isnt Enron. This company actually produces a real product, but they've had losses for the last few quarters as they are trying to combine a company they bought (ATI) and roll out a new processor.

But I dont know the reason for the drop, but I cant help want to get in on it. At $9.34 with a volume of 21m shares, Im gonna break my rules and get in on this without much research.

Unfortunately this is often when I lose money, but I will put in a tight stop ($8.20?) to protect myself somewhat.

Friday, November 30, 2007

Out of OSG

After moving my protect to 70.75 I've been stopped out of OSG today. 9.4% profit - not bad for something I dont truly understand.

But from the message boards, Ive learned the runup has come from the rise in spot day rates for VLCC's. From some article it looks like the rates have increased 3X. This seems too large a move, so I must not understand the article correctly or I dont know the volatility of the spot rates. In any case there are some sites that show the spot rates like:

www.platou.com/Houston/Tankers/RealTimeInformation
www.braemarseascope.com/market_information/index.html
www.dietze-assoc.com/rates_d.shtml
www.crweber.com

I need to spend some time here and understand what this information means.

Tuesday, November 27, 2007

OSG,OSG,OSG!!!

I have been in and out of OSG for a few trades now, and considering I dont understand this stock, I have been pretty lucky. But as of last Wednesday (11/21) the stock was at 59 and is now trading at 69.25 - thats a 17% increase. I bought in much earlier at 64.75 so I was down until this last week. This time I put a protect sell order at 67.75 so I can at least realize a 4.6% gain (which is what I was hoping for, actually 5%).

But I dont understand the recent runup in the stock. Everything else in the commodities market is down a lot and there is no news on this stock.

The only thing that I found is that this stock has been upgraded by Analyst

2007-11-26 Omar Notka (Dahlman Rose & Co) from hold to buy

But the stock has started this runup before his upgrade. In any case, a search on this analyst resulted in a very high star mining rating for him with this stock. In not exactly sure what that means, but I wanted to log this info to keep track of it.

Lets hope this keeps running, because my other dogs are going downhill.