Home Run

On occasion, an opportunity presents itself to swing for the fences, so to speak. Dendreon Corporation did just that. Earlier this week it received approval for its prostate cancer therapy drug, Provenge. As noted earlier in this blog, we bought 10 May 40 calls @ 5.90 each on April 9th. Today, we sell @ 15.85. Excluding commissions, $ 5,900.00 invested is now $ 15,850.00.

A Couple Months

Sadly I have not had the time to dedicate to this blog as I had hoped. I'll still staty with it for now as I do enjoy the little time I get on here.

Month 2

Current cash postion is $ 53,261. That is a 6.52 % gain with today being the end of week 5.

More trades

It has been a while since I have been able to get on here.
Buy 10,000 C @ 3.95

Week 2

I had no time yesterday to do any trading and today looks bleak as well. This gives me time to reflect on advice I have heard traders talk about.... do not trade for trading's sake. In other words, don't force a trade because you are bored but wait for the correct opportunity. I am hoping later this week I will get that opportunity.

One Week Later

Well, it's been a week since this exercise started. Due to work commitments I could not follow the market at all yesterday. This represents some of the challenges faced during this exercise. As I am not a fulltime trader there will be days I cannot follow the news or make trades. We will just have to make the best of it.

Holding Through Earnings

PCLN (Priceline)reported earnings yesterday after market close and did not disappoint. The stock shot over $226 after-hours. This is a good example of the risk/ reward of holding a stock through its earnings announcement. Stocks announcing after market close can trade in huge swings after-hours. Had I not sold PCLN chances are I'd be looking at an extra $ 1500.00 dollars in the portfolio this morning. However, for this exercise it was not realistic to do so. Had PCLN reported earnings not meeting expectations the stock could have seen $190 this morning. This is a bonafide attempt on my part to see if I can generate enough income trading from a beginning base of $ 50K. At this point, such risky, but at times rewarding moves, are not part of the plan. When and if the portflio reaches $250-300,000 we can make those choices.....hence the saying, it takes money to make (serious) money.