Another rough day in the markets and yet another new high for my portfolio.  The portfolio is now up over 20% from the start of my trading, well off the 50% losses I was experiencing only a couple of weeks ago.  Today’s closing trades included profits in XL, LM, CY, and SINA with losses in HRB.  HRB hit my generous stop of $22 and so I’m out with my max loss.  The winners combined for a total of $1500 in profits.

Today’s Profits / Losses:  +$1219.00

Contracts traded:  17

*** New Portfolio Highs ***

Although my portfolio has hit its highs, my current risk allocation will remain unchanged until the end of the month.  I need to make sure my new trading plan is working and that this run on the new highs isn’t based on sheer luck.  I am expecting some writedowns in the next couple of days which will damper the fun a bit but nothing ever goes straight up or straight down.

They weren’t kidding when they said markets generally close higher the first day of the 2nd half of the year.  I was rather disappointed at the bounce this afternoon.  It felt more forced than anything else.  In any event, I went ahead and lightened my put positions a bit by selling off a third of the financials I held.  I currently have 1 contract of XL and LM remaining.  I also sold off a contract from my CY puts.  The bounce, while it didn’t feel well, still didn’t leave a great taste in my mouth.  If anything, I can always reload tomorrow.

Profits/Losses Today:  +$664.00

*** New Account High! ***