(for details pls visit www.OptionPundit.net)
I wrote earlier on OPN forum section that I shall be closing on Monday or Tuesday. But markets didn’t give me a chance (as if it does to others) to close those. All the 3 mini-portfolio’s that were open as of Friday closing were beaten very badly. From a +39% return as of last week, it closed only at +17.1% (a 22% loss of profits).
Here is a comparison of what happened –
- OIH +27.75% —> -6.27%!!!
- GDX from 14.11% —> -0.86%!!!
- MA from 23.92% –>+10.36%!!!
List of earlier mini-portfolio closures:
- MON +45.9%
- BHP +30.5%
- DE +17.2%
- BG +5.7%
Overall OPN’s Nov’07 results were +17.1%, a 7th consequent profitable month. Though +17.1% is still pretty cool considering that I now target only for +6.99% monthly to double my capital every year, it hurts to see profit evaporating within 2 days. Though dissatisfactory, the week was full of learnings which I have captured in my OPN database. I am happy those learning costed me only part of profits not original capital loss. Based on these learnings, I am going to slightly alter my trading strategies.
Good trading, Profitable trading, OP
Leave a Reply