Tuesday, July 19, 2005

Infected by Cramer's Madness?

Today, Cramer wrote in an article to buy INTC,MOT, and STX today all ahead of earnings. I bought INTC Aug25 calls @ $3.91 and STX Aug15 calls @ 4.71. I was almost to embarrased to write on this blog that I was following one of Cramer's calls, but if I don't write it down and experience the shame how will I ever learn? In the past, I've generally made good money following Cramer when he has made wildly bullish calls right before earnings. It seems lately, mainly this year, trading [short-term] his market calls on realmoney.com haven't been as good as I remember in the past. Maybe if I lose money on this, it will be the catalyst to stop listening to him. It looks like intc just announced, and is getting a sell-the-news reaction, after hours.

I also subscribed to realmoney.com's 30-day free trial to their options newsletter and put on the 2 recommended trades in SPY. They are doing a different type of trading than I usually do, so this might be a good opportunity to get some experience using strategies I don't use very much. The only problem is that I have to make slightly bigger trades than I would normally do when I am experimenting with new ideas since they will be "trading around" positions so I need enough contracts to be able to do that.


At 1:12 PM, Blogger Alien Shaman said...

I thought you were going to avoid trading around earnings announcements to prevent losses.


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