Bought some QQQQ puts

Well I sold my QQQQ and bought some QQQQ puts today:
20 x 17-JUL-09 QQQQ 37 strike PUT, stop when QQQQ >= 37 (Paper Money Account)
1 x 17-JUL-09 QQQQ 31 strike PUT, no stop -risk entire option (Real Money)

This is based on my theory that after a good quarter, the market will drop down again in early July. In my paper money account, which is well capitalized, I bought at the money puts. In my real money account, I bought the highest strike that I could afford ;) Needless to say, we'll see if this hunch pans out. Yes I still need to review my trades, however, I've been so fearful of the market lately, it is good to get back into the market. We shall see.

Searching for stock charting programs for the iPhone

I am looking into various ways to obtain live streaming stock charts on the iPhone. Unfortunately, iSwim, the iPhone app that my broker provides, does not have charting. If anyone has any information or suggestions, please post a comment or email me at momostocktrader "at" gmail.com.

Update: I was informed by TOS (Think Or Swim) that iSwim will be getting graphs in the next release. Looking forward to it!

Shelved the refi - Going back to Trading Soon

Well I found out the hard way that banks are being a PITA - those good rates area nearly impossible to get, even if you have good credit etc. For me I have 5.875 and was trying to get to 4.875 ... but it didn't work as rates have gone up and property values have gone down. We'll have to wait until the FOMC meeting with Ben next week to see what happens to mortgage rates in the future. For now, slowly getting back to following the market, reviewing my trades, and trading.

Update: Tried a refi a second time with Fremont Bank (http://www.fremontbank.com) They lead me to believe they could use my prior appraisal despite the new HVCC rules, but when push came to shove, they wanted to redo the appraisal. In addition, the fees for the Good Faith Estimate came back higher than discusses on the phone. Various agents I talked to told me things I wanted to hear like the application fee was relatively easily refundable. However it took me two weeks of calling and bugging management until I could get my $495 back. Caveat empor, and definately avoid them.

Bo Yoder's latest project: "Cash Bombing" your account

Bo Yoder, noted trader and author, has some new blogs and YouTube videos describing his latest project called "Cashbombing". Basically he noticed that many people following him were trading with accounts less then $5,000, and instead of just lecturing them on how this is wrong, he is attempting to devise a system whereby people risk a small amount (say $500) in a highly volatile environment (e.g. Forex) and with high leverage and risk, try to use that money to explode it into an account large enough for regular-type trading. The concept is interesting.

http://www.tradingaintpretty.com/

Update: Bo Yoder has removed some of his content due to regulations now that he is becoming certified but will be back up soon.

GM - Government Motors

I've heard it said that the US is the largest hedge fund in the world. Well now we are going to gamble that the US government can run a car company. Good luck.

I personally am not doing too well - my father in law's funeral was a few weeks ago, and I am not over that. The mortgage rate I had tried to lock in never worked, and now rates are skyrocketing. The house appraisal I paid for out of my own pocket is now useless, and I am going to have to stop the process of finding another loan because I don't want to run up additional credit card costs, and the new HVCC rules require the consumer to pay for a new appraisal with their own credit card.

The good news is that I had the sense to not trade or do any stock market because I'd be too emotional. The recent rallies in the stock market puzzle me, even though I used to be the biggest bull. Very few if any business people I talk to can tell me anything good about the economy, yet the stock market is itching to go higher. I guess it is a trader's market for sure, and the old adage applies: "The trend is your friend until it ends." But watch out for that end. I just don't have a good feeling about the massive government debts, and the artifical reflating of all the banks - something in my things this will all end very badly.

I'll be offline for a while, until my lifes resumes normalcy and I am back to trading again.