The banality of the system was on show yesterday. Ordinary looking monsters. Billions of other people's money. It seemed to me that focusing on the ACA company was a red herring that nobody exposed. They were not the party being deceived. Deutsches Bank was. And that entity was managing money for pension funds and little guys, albeit mainly Europeans.
We all have to give our money to others to manage. So there's the "Friday afternoon problem." That is, What if my money manager gets caught up and flummoxed just like every other individual who is not the Goldman Sachs?
I call things "The Friday afternoon problem." Where your advisor just gives up because he wants to play golf. Stops thinking. Who's going to second-guess him? Certainly not the ultimate client.
Oh, and Cramer? His stocks cratered yesterday along with everything else. Of course one of his books says "don't buy right away what I recommend." Wait a few days. So I blew it. Down $2000 in the blink of an eye.
Qty Change Open $ High Change Close $ Current Price Symbol Name Market Value Low Cost Basis Cost per Share P/L $ P/L $ per Share Bracket Sec Type Exp Strike Under
-10 $0.25 SUN 05/22/2010 34.00 C CALL SUNOCO INC $34.00 EXP MAY 22 '10 (24 DAYS) ($250.00) ($262.49) $26.25 $12.49 ($0.01) none Opt May 22 '10 (24 days) $34.00 SUN
300 $0.00 $18.38 $0.38 $18.35 WFT WEATHERFORD INTL LTD F $5,505.00 $18.00 $5,594.52 $18.65 ($89.52) ($0.30) none Eqty
245 $0.00 $0.00 $0.00 $28.89 CINF CINCINNATI FINANCIAL CP $7,078.05 $0.00 $7,358.95 $30.04 ($280.90) ($1.15) none Eqty
200 $0.00 $74.13 $1.40 $73.80 CMI CUMMINS INC $14,760.00 $72.45 $15,020.95 $75.10 ($260.95) ($1.30) none Eqty
500 $0.00 $30.45 ($0.01) $30.23 SUN SUNOCO INC $15,115.00 $30.23 $15,228.95 $30.46 ($113.95) ($0.23) none Eqty
Sub-Total $42,208.05 $42,940.88* -$732.83*
Cash $23,595.98
Total $65,804.03
That's what I was down on my existing positions as of the close of yesterday. In addition I closed out a trade of 200 SPY for a loss for $251. Glad I did that. And closed out a buy/write on 1000 Hershey for a $106.71 loss which had been a good-size ($850) unrealized gain Friday afternoon.
4/27/2010 Sell 200 SPY S P D R S&P 500 ETF TR EXPIRING 01/22/2118 $120.77 $24,144.64 $8.95 4/30/2010
4/27/2010 Buy to Close 10 HSY 06/19/2010 50.00 C CALL THE HERSHEY COMPAN$50 EXP 06/19/10 $0.66 ($667.50) $7.50 4/28/2010
4/27/2010 Buy 200 WFT WEATHERFORD INTL LTD F $18.62 ($3,729.77) $5.97 4/30/2010
4/27/2010 Buy 100 WFT WEATHERFORD INTL LTD F $18.62 ($1,864.75) $2.98 4/30/2010
4/27/2010 Buy 200 CMI CUMMINS INC $75.06 ($15,020.95) $8.95 4/30/2010
4/26/2010 Buy 245 CINF CINCINNATI FINANCIAL CP $30.00 ($7,358.95) $8.95 4/29/2010
4/26/2010 Buy 200 SPY S P D R S&P 500 ETF TR EXPIRING 01/22/2118 $121.94 ($24,396.95) $8.95 4/29/2010
4/26/2010 Sell 500 CAT CATERPILLAR INC $72.43 $36,205.93 $8.95 4/29/2010
4/26/2010 Buy 500 CAT CATERPILLAR INC $72.45 ($36,233.95) $8.95 4/29/2010
These are not official records and will not be reported to the IRS. Please use this information only as a tool to assist your financial management. Always refer to your Schwab statements, trade confirmations and/or IRS Form 1099 for a complete and accurate record of your transactions and holdings.
Exported from StreetSmart.com™ for account XXXX-xxxx on 4/28/2010 at 9:42 EDT
SPY 200 $24,396.95 $24,145.05 ($251.90) 04-26-10 - N/A 04-27-10 - 09:52:15 ET
HSY 06/19/2010 50.00 C 10 $667.50 $402.49 ($265.01) 04-22-10 - N/A 04-27-10 - 09:55:23 ET
HSY 1000 $47,418.95 $47,360.24 ($58.71) 04-22-10 - N/A 04-27-10 - 09:55:24 ET
Total $72,483.40 $71,907.78 ($575.62)
on 4/27/2010 at 9:56 EDT
