Updates - 26 Apr 06

RMBS
My May $45 Put did extremely well and was deep in-the-money. The stock bottomed at $37.70 (my target is $38.00) around 11:45 am (ET) with a spike in volume (5-mins chart). Sold my May $45 Put for $7.50 when the stock seems to reverse shortly after (bought for $4.10, 89.9% profit over 3 days). While the stock could still go down further to $36.00 (next support level, also the SMA50), I guess that the stock would probably need a rest before moving south again (if it want to).

The movement of the stock over the last few weeks is a classic “Buy on rumour and sell on news” pattern.

SNDK
The stock gave a bullish performance again today. The stock’s resistance level should be the lowest ($63.65) of the trade prior to earning announcement. It missed by a penny when it announced on 20 Apr after market closed. The stock dropped for two days thereafter but regained some of its losses over the past 2 days. It would not make sense for the stock to go beyond $63.65.

However, I am not willing to hold on as the stock is too bullish in behaviour. Closed my May 60 Put at a loss of 46.2%.

GM
GM received an analyst upgrade. My May credit spread is pretty negative. Will monitor this stock closely tomorrow.

DELL
My May $27.50 Put which I bought yesterday is showing decent paper profit as DELL continued with its slide.

TXN
TXN stock slided wiping off yesterday’s gain. My Jun $35 Put is uneventful.

XSNX
Uneventful.


- PersianCat04 (Millionaire-in-progress)