Cramer was so bad the other day (see my earlier blog of April 27 on his program of the night before) that he cost me $2,000. But then he said get out and saved me more. Yesterday was one of my best days because I "saved" $3,000 or more by being in nothing but cash. Whew!
Why was he bad? Because he gave very bullish implications and recommendations, especially a far-out-on-a-limb announcement of a new bull market in oil. He was totally blindsided by what's happening in Europe.
Now he says buy the accidental high yielders, which is his fall-back advice, good advice, so I just placed an order to buy 500 P&G at 49, GTC.
Total Account Value $65,772.08Today's Change $0.00 (0%)$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
Funds
Available Using Cash Cash + Borrowing Buying Power Details
Available to
Trade $40,766.01 $136,220.00
Available to Withdraw $40,766.01 $40,766.01
Settled Cash Available to Trade $40,766.01
Cash & Money Market
Cash $0.00
Charles Schwab Bank, N.A.Deposit Accounts $0.00
Margin
Balance $65,772.08
Short Balance $0.00
Total Cash $65,772.08
Securities Non-Margin Margin Total
Market Value Long $0.00 $0.00
$0.00
Market Value Short $0.00 $0.00 $0.00
Options
Market Value Long
$0.00 $0.00 $0.00
Market Value Short $0.00 $0.00 $0.00
Total Securities
$0.00 $0.00 $0.00Margin/Equity Requirements
Margin Equity
$65,772.08
Equity Percent 100%
Day Trading Buying Power $263,088.00
Month to Date Int. Owed $6.07
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 5/7/2010 at 5:58 EDT
SH (the ETF that is short the S&P 500) went from $49.42 at 1:50 pm to $54.60 at 2:40 pm yesterday.
June 19, 2010 close
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
$1.80 $46.05 $2.00 $45.05 AAPL 07/17/2010 230.00 C CALL APPLE INC$230 EXP 07/17/10 $4,505.00 $42.75 $3,209.70 $3,209.70 $1,295.30 $12.95 none Opt Jul 17 '10 (28 days) $230.00 AAPL
-1 $2.00 $36.70 $1.85 $35.95 AAPL 07/17/2010 240.00 C CALL APPLE INC$240 EXP 07/17/10 ($3,595.00) $33.50 ($2,390.25) $2,390.25 ($1,204.75) $12.05 none Opt Jul 17 '10 (28 days) $240.00 AAPL
1 ($0.40) $3.35 ($0.40) $2.81 AAPL 07/17/2010 250.00 P PUT APPLE INC$250 EXP 07/17/10 $281.00 $2.71 $809.70 $809.70 ($528.70) ($5.29) 1 Opt Jul 17 '10 (28 days) $250.00 AAPL
30 $0.02 $0.29 ($0.03) $0.27 PG 07/17/2010 57.50 P PUT PROCTER & GAMBLE $57.50 EXP 07/17/10 $810.00 $0.24 $1,630.40 $54.85 ($820.40) ($0.27) none Opt Jul 17 '10 (28 days) $57.50 PG
Sub-Total $2,001.00 $3,259.55 ($1,258.55)
Cash $62,009.30
Total $64,010.30
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
June 25, 2010 pre-open
Qty Current Price Symbol Name Market Value Cost Basis Cost per Share P/L $ P/L $ per Share Exp Strike Under
1 $40.05 AAPL 07/17/2010 230.00 C CALL APPLE INC$230 EXP 07/17/10 $4,005.00 $3,209.70 $3,209.70 $795.30 $7.95 Jul 17 '10 (22 days) $230.00 AAPL
-1 $31.05 AAPL 07/17/2010 240.00 C CALL APPLE INC$240 EXP 07/17/10 ($3,105.00) ($2,390.25) $2,390.25 ($714.75) $7.15 Jul 17 '10 (22 days) $240.00 AAPL
1 $3.35 AAPL 07/17/2010 250.00 P PUT APPLE INC$250 EXP 07/17/10 $335.00 $809.70 $809.70 ($474.70) ($4.75) Jul 17 '10 (22 days) $250.00 AAPL
33 $91.66 CRM SALESFORCE COM $3,024.78 $3,143.95 $95.27 ($119.17) ($3.61)
100 $136.70 GS GOLDMAN SACHS GROUP INC $13,670.00 $13,798.95 $137.99 ($128.95) ($1.29)
30 $0.29 PG 07/17/2010 57.50 P PUT PROCTER & GAMBLE $57.50 EXP 07/17/10 $870.00 $1,630.40 $54.85 ($760.40) ($0.25) Jul 17 '10 (22 days) $57.50 PG
50 $64.40 PXD PIONEER NATURAL RES CO $3,220.00 $3,508.95 $70.18 ($288.95) ($5.78)
75 $46.29 SNDK SANDISK CORP $3,471.75 $3,608.95 $48.12 ($137.20) ($1.83)
Sub-Total $25,491.53 $27,320.35 ($1,828.82)
Cash $37,948.50
Total $63,440.03
