Does mistake happen again? (Average down THI today)
It is Mar 24, 2006 Friday, the end trading day of this week.
It is the day when GOOG AH.BH jump for SP500 news and THI(Tim Hortons) IPO debuts. Before opening I looked at my JRCC to see if I have any chance of saving my trapped JRCC. The bid and ask were 33.08 and 33.78. By hoping swing/bouncing trade. I entered sell 100 JRCC at 33.78 and 100 JRCC 33.80. They were exceuted 1.5 minutes before 9:30. I entered short 34 and 34.20 around 9:30AM. They were also excuted. To my big surprise, the JRCC ran to above 34.80. At 34.80 price, my balance would be 35500. That is a nightmare! I entered couple of buy orders at the price range of 33.20 to 33.01.
In the mean time, I bought 500 THI from 32, 31.94, 30.96, 30, 30.
When I got office at around 10:20AM, I found JRCC dropped a lot in the past 30 minutes, The minimun point was 32.03 which hits 500 of my orders. JRCC was 32.10 when I first opened window in office, then it rises to 32.20 which is my new break-even point. Damn I missed it.
It rised slowly which didn't alert me to cover hoping it may drop again like yesterday. In the mean time, the THI dropped slowly from 30 to 29.62. THI bounced back at 1:38, I did sell 200 THI at 29.92. What if I cut loss now!!! (Big mistake)
THI continued dropping to 29.35 which was the 1100th THI I bought. I don't have any buying power and watch THI dropping again under 29.
I was waiting for magic, but magic didn't happen today. The JRCC kept rising and THI kept dropping. What a bad day! So bad. 该跌的没跌反而涨,该涨的没涨反而跌
Which one to cut loss? I select JRCC. I intentionly cover 800 shares of JRCC at 33.97-33.99 which left me $582 real loss.
So far, the positions are:
JRCC: -1700
THI: 1000
-NTES PUT:
The account loss in JRCC is -840.33 (at the late price of 33.69 and cost of 33.2)
The account loss in THI is -1971.31 (at the late price of 28.11 and cost of 30.08)
Small loss in NTES PUT writer: -20
The total balance of today is 46350. which is 2250 below last week's ending balance of 48600.
The hiding account loss is 2810. I need to develop a strategy to save them. Let me think in the weekend.

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