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Wednesday, April 14, 2010

Position Update

CSTR hit my preset sell order at the price of $37 and my position got closed out.
BCSI is going strong and both my stock and option positions are now profitable (over 50% on options).
I got a bit nervous and sold my ORBK position at 12.06 (had an initial target of 15).  The stock may still move up a lot, but its so thinly traded that it can be manipulated. I would hate to be on the wrong side of that move.
Trying to decide how long to let the HD option position run.  Remaining options are now at a 300% gain. And the stock is acting strong.  With market showing strong upward momentum, I think I am going to let it run a bit longer.  I am still planning on starting to cash out in a couple of weeks (on a case by case basis).

I am mad at myself for not getting back in the ISRG position when the hammer was spotted in the chart pattern. But I can't jump in now since with earnings coming in after close tomorrow, it would become a crap shoot with a huge move up or down.  Oh well, I guess I will have to do it some other time.

Oh, and I did open a new position in MLNX (Mellanox Tech) with May 25 Calls at an entry price of $1.50 per contract.  (It was moving up on high volume and they seem to be getting a lot of new business lately).  But my decision to enter was based on Technical analysis alone.  Hope to make a quick profit and exit soon.

Also, a reminder that this is options expiration week for April and April options execute or expire on Friday.

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