My End of Month Rally

Tomorrow is Halloween, it's also the end of the month, which I'm hoping lots of action happen because I'm trying to beat my September record.

Anyway, I noticed sometime around the middle of this month while I was trying to make some adjustments that it was within the realm of possibilities. I've been consistently having these smaller big up days compared to the few huge up days I had in September and I'm at a good pace to beat it. I had a pretty good day yesterday with the FOMC rate cut, which actually I have to say that for some reason I heard a 25 basis point cut so I went heavily short when it was in fact the expected 50 basis point. Whatever, I made quite a bit on that big dip after the announcement came out. After Wednesday it started to feel real that I actually beat my September record.

I had to make a decision earlier this week whether to miss Thursday or Friday to go to the Spanish Consulate in Houston to get my tourist visa for the cruise I'm not going on around Thanksgiving time. Thursday being the day after Fed announcement, could have lots of action. Friday is the end of the month... tough choice. Because of the fact that I'm only permanent resident status (my family's paper has been filed since 1997... seriously, don't ever try to tell me that gov't is efficient) it makes it a little difficult when traveling abroad. We have to obtain a visa, which is usually not a problem, it's just annoying that they make you jump through a lot of hoops. It's also almost comical when we return to the country they question us at customs why has it been taking so long. Gee, I was wondering if you could shed some light on that.

I drove all the way back from Houston this morning after I got done at the Spanish Consulate to try to make some money at the close. Unfortunately, I got into this UNT that came out with a huge sell imbalance, I'm talking about over 100% and I got some decent size. It started working but then it reversed on me. There was news about it being removed from one S&P index into the other (out of the 600 but into the 400 I think) but I felt comfortable with the huge imbalance. I gave it quite a bit of wiggle room and actually even added into it. Let's just say that I eventually covered it for a loss. I put some orders out up top at the close because of its ridiculous strong up move and he in fact did print up. I got out of about a third of my position but I ended up having to hold the rest over night. Let's hope that I get some help tomorrow. By my rough calculation I need a little over couple thousand dollars to beat my September. I think it's totally possible. Wish me luck!

I'm glad I didn't get too upset over the UNT trade. I mean, yeah, it sucks that I drove all the way back from Houston to lose money. But hey, we play the probabilities and it just didn't work out this time and I think I did let it work against a little too much.

On a side note, there was a little scare in our office risk management wise about a week ago so everybody has been more cautious. Unfortunately I've also been wanting to get my capital raised so I can send out more and bigger orders. Thankfully it's been approved and my buying power is being doubled tomorrow.