Thursday, November 20, 2008

A Brilliant Two Weeks - Consecutive 100%+ Gains

These past two weeks (November 10 - now) have been the most intense two trading weeks I've had in my life. Trading every single session this week has felt like working a 12+ hour day. The volatility in this market is nuts and your stomach has to be iron lined to be be trading in it. The VIX closed at 80.86 today, which is an ALL TIME high. That means fear is at unprecedented levels and this volatility should continue until we get good news - don't hold your breath.

My trades for this week:

Bought OOCWA at $60 yesterday.
Sold OOCWA today at $140.
Total Gain on Trade: 133%

Bought AXPWQ at $55.
Sold AXPWQ today at $90.
Total Gain on Trade: 63%

Bought ZWRWC at $45.
Sold ZWRWC at $95.
Total Gain on Trade: 111%

I closed all my positions today as options expiration is tomorrow and I had made enough profit. If I was really ballsy I would have held to see what tomorrow had in store but here's an important lesson: Take profits in a market like this! They might not exist tomorrow!

My account is up 525% in two weeks. Needless to say, I'm ecstatic and glad I stuck to my strategy even when my positions were down! I was planning on taking tomorrow off but I can't stay away from the markets, especially now. If I see a good opportunity I'll grab it tomorrow, if I don't I have no problem staying idle.

We created Bully Bank to showcase gains like this! We're two normal guys - granted we work our ass off in coming up with ideas and researching those ideas but besides that we're just like you. I'm really happy we can showcase such gains in such a short period of time. Lots more to come ;)!

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