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Today’s Transactions:
Sold part of GOOG Dec 400 Call at $322.00 Reason: this position has risen by more than 150% since the end of July so I\'m just taking some profits.
Sold part of SOHU averaged at $61.66 Reason: the stock has risen by 70% in less than 2 months so just book some profits.
Opened Feb 08 FRO 50 put at $9.50 stop if the stock is closed above 48 Reason: the tanker rates are being hammered so far this quarter, which is supposed to be the strongest quarter of the year. The current forward P/E ratio is the highest for the past 5 years. The risk is with continuous draw of US crude inventory, future demand can be higher.
Opened Jan 08 CX 40 put at 12.20 stop if the stock is closed above 33.50 Reason: as the world\'s biggest cement company, it may finally feel the pain of the US housing market.
Opened Jan 08 ITRI 100 put at 19.50 stop if the stock is closed above 90.00 Reason: the meter company issued a profit warning last Friday and I don\'t expect the current P/E can be sustainable given the slowing growth perspective.
Today’s Return: -0.02% Return since inception(June 05, 2007): 147.03% S&P 500 Return since June 05, 2007: -2.40%
My positions:
PG UTSI Jan 09 10 Call GOOG Dec 07 400 Call SOHU BHO
FRO Feb 08 50 put CX Jan 08 40 put ITRI Jan 08 100 put
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