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The week ended the way it had begun: worries about the Ukraine and Russian intentions with the Crimean region. Like on Monday morning, we woke to news of Russia having invaded Crimea, we closed the trading day and week with news that Russian troops were once again on Crimean bases. After the early morning euphoria about the jobs data had dies down, the Nazz pretty much went into the red and for the most part stayed in the red for the day before closing down 15.9 points or 37 bips. The S&P closed higher by 1 point at another record close while the Dow was higher by 31 points or 19 bips.
I made one trade yesterday, which was as follows:
Buy 15 SINA April 77.5 calls (monthly expirations) for $2.73
Recapping the trades for the week:
On 3/3 we bought 300 shares of LXFT, which closed the week at $33.62
On 3/5 we sold short 2 PCLN puts for $5.40, which expired Friday worthless for a gain of $1040
On 3/5 we bought 25 April EJ 16 calls for $0.85, which closed Friday at $1.80
On 3/7 we bought 15 April Sina 77.5 calls for $2.77, which closed Friday at $2.77
No economic data releases
Earnings of note before the open include:
AVID, CACH, FTEK, MW, TECD, URBN, VRNG
Our model had a good day relative to the Nasdaq with a gain of 1.55% on the day compared to a negative return of 0.37% in the Nasdaq. The best performer on the day for us was our purchase of EJ calls mid-week, which we purchased for $0.85 on Wednesday and closed today at $1.80. There were no major drags on our portfolio yesterday.
Since inception (Feb 1, 2013) our model is up 148.10% and since Feb 1, 2014 (second year since inception), the stockuverse model is higher by 5.91%.
Have a safe weekend and see all of you Monday morning.
As always I hope you have enjoyed reading this summary as much as I have enjoyed writing it for you.
Disclosure: long VRNG, SINA, SINA calls, LXFT, EJ calls
Our model portfolio was started on Feb 1st, 2013 with an initial starting capital of $100,000 and we are up 141.08% as of March 04th, 2014 Check our Performance
|Market||Eod 04th March 2014||CMP||Stockuverse Outperformance|