This is the news that JAPAN is waiting !!! I can sleep the night away. I went to Disneyland with my wife and 5 year old son. I kept on looking at my iphone for news about the reactor. Its 9:13 PM Los Angeles time and we just got home. I found this news that they finally fixed it !!! Oh yes, baby, we gonna fly. I dont want to bash the shorts and put holders, but a precaution, please close your puts and shorts because come Monday, EWJ will fly. I also short stocks and buy puts. Sometimes, I am on the losing side of the trade and I know how it feels. I have 610 contracts EWJ Apr 2011 10 call.
I consider myself amateur but gaining 3000% in 5 weeks is no joke. Years back, whenever I see a company being bought by someone, I would go to the options right away and look at the percentage increase of a strike price. At times its up 2000% - 3000%. I am always awed by that. I would always imagine, how I wish I bought that options the night before. I was always dreaming about it that someday its going to happen to me. But it never did, it took me 5 weeks to reach that. Those 5 weeks when fraught with sleepless nights. I never stop reading the news bulletin, reading the charts, poring over the historical price, prowling the message board --- all of these was done over yahoo message board. Its just unbelievable many would say that message board is hogwash. But I beg to differ because through this board I learned a lot of things.
Amateurs don't belong in the options market, imho. I had a friend who made a million dollars from his dot com stocks back in 1999 and lost it all gambling in the options market.
Two years later he was hired at Google, but that is another story.
All EWJ need is to plug the radiation from those reactors. USDJPY is trading 80.955 as of now. Asian markets are up, Uranium stocks in Australia recovered. Stock futures are up. Commissioner Chu says Nuclear problem is over. All of these happened over Sat/Sun. The rise of the dollar alone is going to guarantee that EWJ will rise in the AM. Thats one of the reason why it was up last Friday. Last Friday alone, radiation leak was all over the news stating that its going to be a nuclear meltdown. Jaczko badmouthed the Japanese about the handling of the nuclear fiasco but EWJ was green. Volume last friday was 3x the daily average. Which means investors are bullish on EWJ. Try to weigh the pros and cons of the news and you will be enlightened.
something to ponder about..
This is just for the rebuilding purposes...It doesn't include days of productivity lost, private sector counter-party trades and deals, and the list goes on...
The reality is that there is no good news at this time to invest in EWJ...You might be able to find individual stocks that could benefit from this massive rebuilding process...
Starting tomorrow, I will spread my account to SVL,NFLX,AMZN,and USO stocks/options. I have this habit of putting everything in one basket. Its a hard habit to break. I only started a few bucks and with the seed money, I could not spread it to different stocks because of the trading fees. Imagine you have $2k to start, how will I divide that into different sectors of the market? Half of the $2k will go to trading plus decay of options. So I decided, I will put everything in one basket but first I have to be sure that the options I will hold is a sure winner. Its a painstaking process of research/reading before I go into it. I dont open options because I feel the urge of having it. It goes through a lot of debate with my own mind if its really worth it. Gambling? No. Calculated risk, Yes.
Its back to $40k now. If this goes up tomorrow by 2-3%, my account would go back to $60k. Im just positive of this EWJ. Bad luck is just like a wheel, Japan was at the bottom of the wheel when tsunami/earthquake hit them, as the wheel goes another full circle, they would reach 1/4 away from the bottom of the ground. This is how I feel life to me.
Watch as this headfake bounce creates another major lows for Japanese markets: this is not even smart investing, it is called Casino-type investing based on delusional and hopeful thinking...
Mark this post: You will see a much lower Japanese market by the end of this week...
It's weird though that all of a sudden you're saying now that you're losing sleep over this current EWJ trade you're in...when you had already risked this much on your NFLX put and.
If you had 60k and only limited yourself to 10 - 15k a trade and lost, that would be survivable cause you'd only be looking at a maximum loss of 17 - 25% to your portfolio. You'd have at least 3 more trades left. It's true that you generally can't make the huge returns you've been pulling in lately without wagering huge amounts, but the risks you are taking now are putting yourself into a position where you're literally 1 bad trade away from going belly up.
And it's kind of funny the way a lot of people act when they suddenly stumble upon a ton of money in a short timeframe. It's like they have no respect for it or feel they don't deserve it. Yet they'll carefully manage and budget the money they slowly earn from paycheck to paycheck.