Waiting for GOOG earning, any Giant Slayer out there?

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Apr 17 2008
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As of writing time, I’m still monitoring the U.S. stock markets which saw a lower opening as far as Dow and Nasdaq index are concerned. So far, there’s no opportunity to enter new position yet. If you’re still longing Baidu.com, Inc. (Nasdaq: BIDU, stock), Congrats! I know I’ve mentioned yesterday that Baidu breached the $300 level and the stock looked very tasty indeed. Of course I scalped and made a fast exit yesterday despite the bullish look because I was too scared to be a pig. Okay, maybe it’s good to say that it’s better to become a chicken than a pig – so I chickened out too early, as what one of my readers emailed me (I believe this FinanceTwitter reader is making good money with AAPL Call Option now *grin*). Big deal!

If you’re still new in the world of stocks investing or option trading, you need to recognize the fact that you’re trading against your ownself and no one else. Forget about the top fund managers such as John Paulson, George Soros or James Simons who made a combined fortune of $9.4 billion in 2007 alone. I’m pretty sure these successful individuals had mastered the skills of a Jedi – they could make great money blindfolded as long as they can access the market news and happenings to gauge the pulses.

DrillerMy point is as long as you make money, no matter how small in the beginning and without the need to punch a hole into your head with a driller because you’re still cursing yourself for “exit too early” and hence lower profit, then you’ve won half the battle. A small profit is still better than no profit or worse losses. Sometimes you just need to listen to your inner voice to take the money off the table. And if the stock continues to run after you locked-in the profit, be grateful someone else is making money because you offloaded your position to that person.

Hey! Respect the Mother Nature because everything is a cycle – whatever goes around comes around. Don’t be a greedy parasite who thinks of only sucking the last drop of the honey unless you do not wish the bees to come back. There’re always another trades next time and eventually you’ll know “yourself” very well that you could smell a trade opportunity miles away. I’ve mentioned in one of my articles that as long as your strategy makes you money, then your strategy is a good strategy.

Have you ever wonder why the strategies that you learnt after paid in thousands did not work despite the coach being the so called the best in the market? People who lost money claimed that Google Giant Slayerif this instructor is so damn good, why bother teaching others? You can debate until cow comes home but I believe one of the reason is the strategies taught are not your cup of tea. You tried to embrace something which you might not have the passion for it. You don’t have the discipline to comply with the “10 Commandments.” You’re too lazy to do homework and there’s no teacher to spank you. And the list goes on.

Okay, enough of philosophies and let’s get to business. In compliance with my article yesterday, I still think Google Inc. (Nasdaq: GOOG, stock) will disappoints after today’s closing (earning announcement) and thus I’ve opened new positions on GOOG May 450 Put Option in addition to the remaining I left yesterday (GOOG Apr 530 Put Option) for a trophy. With my gains on GOOG closed yesterday, I think I can afford a total loss should the giant proved to be impossible to be slayed *grin*.

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Congrats on the worthless puts.
$450 was too close to strike anyway. If you figured earnings would be bad, you should have bought $375 puts.

well, high risk high gain …

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