Good Afternoon,
Well, another session that runs choppy and finishes with no clear winners or losers. The markets have stayed in a two day trading range of very few points with very little moves. This is not the ideal market to trade in. With the style incorporated within our trading strategies we would like a little more volatility. Nonetheless, we are still very profitable for the month.
ExactStockPicks Portfolio Update
With our trading philosophy to base our portfolio size around $25k, we didn’t enter any new trades. With options expiration tomorrow we are going to be closing out a couple of positions most likely. In a perfect world we would have closed all of these already at profits. In the real world, with all sunny days comes a little rain. After 8 trades this month without a loss, we will most likely take a couple losses tomorrow.
We only made one move in the portfolio today. We rolled out our June 50 call options on Cognizent Technology Solutions (CTSH). We sold the June 50 calls and purchased the July 50 calls to replace them. The net debit to the account was only .90 per contract, and leaves our loss potential on the entire trade to around 5%. If we take on very little risk to open a trade we may in fact enact this strategy on some trades.
The rest of the portfolio was rather flat today. Our hope is that one or two of our positions can make nice moves and we can exit. Otherwise, we will either close them outright or roll them out another month. We will examine the charts this evening and decide our best options.
Have a nice evening and we’ll see you again on Morning Call.
June 2010 Recap
6/1/10: Sold short 100 shares Union Pacific @ $71.96
6/4/10: Bought to cover 100 shares Union Pacific @ $69.68
Protective Call Option: ($41)
Profit – $197
6/2/10: Sold short 200 shares Thoratec Corp @ $44.00
6/4/10: Bought to cover 200 shares Thoratec Corp @ $42.70
Protective Call Option: + $300
Profit – $560
5/27/10: Sold short 200 shares Jinpan Intl Ltd @ $15.83
6/07/10: Bought to cover 200 shares Jinpan Intl Ltd @ $15.14
Profit – $138
5/25/10: Bought 100 shares ConocoPhillips @ $49.00
6/10/10: Sold 100 shares ConocoPhillips @ $52.57
Profit – $357
5/24/10: Bought 100 shares of Baidu @ $72.18
6/10/10: Sold 100 shares of Baidu@ $72.32
Profit – $14
5/20/10: Bought 200 shares Quest Software @ $18.75
6/10/10: Sold 200 shares of Quest Software @ $18.75
Profit – 0
6/7/10: Bought 100 shares Overstock.com @ $19.65
6/11/10: Sold 100 shares Overstock.com @ $21.66
Profit – $201
6/4/10: Bought 100 shares of Valeant Pharmaceuticals Intl. @ $ 46.54
6/14/10: Sold 100 shares of Valeant Pharmaceuticals Intl. @ $47.50
Profit – $96
Total June Profit to Date: $1563
TEN Exclusive: Portfolio Update – 6/17/10 is an article from: 
