13 Retirement Myths

I realised the CNNMoney.com Retire Rich series will have this type of retirement (with money) articles every now and then.

Take a look at this article under CNNMoney.com Retire Rich. Personally, I totally agreed with some of the myths as mentioned:

#3 - Everyone has debt
#4 - A million dollars will cover you
#5 - Boomers will crash the market
#6 - Without a pension, you're doomed

After reading this article, I MUST have many many millions and MUST not have debt. I won't need any pension (or CPF) and even when the market crash, I can trade PUT options to win the market!

Market Crash

Did anyone know what happened to the stock market? Based on briefing.com In Play, this is what this was reported at 14:38 ET:

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Floor Talk: This afternoon's abrupt sell-off

The markets rolled over about a half hour ago, with the decline notable for the sharp sell-off in big-cap technology stocks. While there was some initial confusion as to whether something specific sparked it, it appears the following things could account for it: 1) a tier-1 firm came out with cautious intraday comments on the tech sector; 2) a different tier-1 firm came out negative on BIDU, which took down a host of momentum tech stocks; and 3) ECB governor Weber stated that, although the ECB had temporarily paused its rate hikes, in his opinion the ECB may need to raise rates to a "restrictive" level... Dow lost over 100 points in a half hour, Nasdaq lost over 30 points.

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Baidu dived from 359 to 301, luckily I'm not in this. So did many technology stocks (like GOOG, RIMM, AAPL, ISRG, etc etc) and investment stocks (like GS etc). Look at the index chart below and focus at the 'dive' portion from 2pm ET onwards.

But, I'm into a spread yesterday for S&P 500 (SPX). S&P 500 dived from 1,576 to 1,546 and I'm into this with the weekly options 1,555/1,570 Bull Put Spread. My maximum loss was supposed to be $6,600 and I converted it to a Iron Condor by having another 1,555/1,570 Bear Call Spread to offset the loss towards the last minute. The Bear Call Spread gave me $1,750, making my SPX loss limited to $4,850 (which is still quite high for me!!).

Market Crash!

ACMEMADE.SG

I forgot to post the fact that ACME MADE website is launched already earlier this month.

The American premium brand for laptop bags, well-known for style and protection, was founded by a couple guys with over 30 years’ experience in the design, advertising and technology worlds. ACME MADE will be rolling out 6 series: The Silm, The Designer Slim, The Tote, The Clyde Messenger, The Slim Pack & The Slim Cargo. Every series are functionally unique and serve as business attaché while still maintaining high standards for computer protection.

1 Win & 1 Lose

Trade Journal for Oct 10, 2007

Alcoa (AA)
- BTO 0.85 yesterday & STC 0.64 (24.7% loss) on IB

Google (GOOG)
- BTO 7.60 yesterday & STC 8.80 (15.8%) on IB


Open Positions/Unrealised PnL: FAST, INFY, MTB
These positions are entered before market close in anticipation for the earning gaps tomorrow. These 3 companies will announce quarterly earning reports before market open on 11 Oct 2007.


p/s: INFY (Infosys Technologies) is an Indian technology company. The first Indian company I'm playing!

3 Realised Profits in a day!

Trade Journal for Oct 09, 2007

Alcoa (AA)
- BTO 0.90 & STC 1.20 (33.3%) on MB

Goldman Sach (GS)
- BTO 1.40 & STC 1.95 (39.3%) on MB
- BTO 1.35 & STC 1.90 (40.7%) on IB

Infosys Technologies (INFY)
- BTO 1.10 & STC 1.65 (50%) on IB

All above are day-trades!


Open Positions/Unrealised PnL: GOOG, AA

Best Places to Retire (in America) 2007

Since the ineption of this blog, I don't think I really talked about where to retire. And fortunately, I came across this article from CNNMoney.com - Best neighborhoods to retire. But, this article is based in the America.

As described in the article: "If life after work means more than a beach chair, the best place to retire might be the big city." I wonder why the big city is the best place, but this article is definitely very inspiring!

As for my personal favourites (based on the visuals and short writeups), here's my final shortlist:
No 23: Austin, TX (that's the picture on top)
No 27: Charlotte, NC
No 29: Seattle
No 32: Louisville

Anyway, here's the link!

My first Google (GOOG)!

At the opening bell, I decided to get into Google (GOOG) today for one stupid reason! I think it will top the $600 mark today!

Indeed, it passed $600 mark before I switched on my laptop at 10.30pm (or 10.30am ET). I decided to buy an October 620 Call option (2 steps out-of-the-money) at when the stock price was slightly below $599 and it cost me $8.30.

With a opening bell gap up of $0.95 and fulfilment of The Chicago Trick slightly at around 1.30pm ET, I continue to hold when GOOG hit new high at 602.41, 602.90, 603.41 then 603.9496.

Time to go to sleep! At $603.51, I sold the position at $9.80 made a $150 profit (18% profit for my first GOOGLE!). GOOG continued to rally to the $609 region and the option i trade hit around $12.50 bid price.

Internet Options Trading Contest

The internet marketing world is fascinating and constantly evolving. You now see an internet marketing campaign for a options trading course.

This is how I got linked from here and there:
1. I purchased Avi Frister's Forex Trading Machine eBook and Videos.
2. On his regular e-newsletter, he introduced Bill Poulos' Forex programme.
3. And now, Bill introduced this contest to me!

Here's the contest link by AJ Brown - for you to post a comment below and answer these two questions:

1. WHY do you want to become a world-class options trader (besides the money)? What does all that money get you?

2. HOW will going to my Million Dollar Options Trading Intensive and participating in my 6-month immersion Apprentice Program help you?

Yup, the best entries (as judged by AJ) will get (1) One FREE ticket to the Million Dollar Options Trading Intensive (valued at $2,495.00) and (2) FREE entry into the 6-month Apprentice Program starting in January 2008 (valued at $2,495.00).

Though I knew the odd is low, but just for the fun of it. I just joined. I'm the #156 entry!



My original unmoderated answers to the 2 questions:

(1) I started trading options at the age of 21. The amount of leverage is somewhat one of the highest among all the financial tools. During these few years, I started a magazine publishing business and a couple of smaller busines, but none of these provide me the ease of lesser manpower problems and all other typical brick-and-mortar businesses had. Options trading has always provided me the luxury of working at home, spending more time with my family and friends and have a more fulfilling life. As mentioned in my blog imgoingtoretireby26.blogspot.com and as the world-class options trader, I’m going to use options trading as my main vehicle to achieve financial freedom and abundance and YES, semi-retire by the age of 26 (now, I’m 25!).

(2) Through the Intensive course and Apprentice programme, I can realise my dreams to retire with my whole family on time and scale a greater height in options trading. I always believe options trading is not just about the money and the trade; it’s a journey of discovering oneself. Which is why trading is not just an transaction of cash and positions; it’s a transaction of fear, greed and all sorts of human emotions that come to trade!