Week Review

Market:

1. Dow got one record after another record this week, Nasdaq closed to 2475 from 2435 a week ago.
2. QID was down to 52.52 from 53.76 a week ago. This is another very tough week for short.
3. RIMM went from 124 to 132, very painful for my put, even for the Jan.2008 put.
4. PM stocks did OK this week to keep my portfolio in balance.
5. AEM, GG and GDX were pretty much flat for the week.
6. SSRI and PAAS went up about 1% and 2% respectively.
7. Nasdaq closed up 6 days in a row, usually that means it will correct itself next week.
8. The only regret I have is, I'm too early adding QID. I added in Nov.06, Dec.06, and Jan.07. But I still believe this is a solid pick for the next 6 to 9 months.
9. Economy, oil supply and middle east conflicts, Iraq war and the burden it puts on the U.S. budget, the trend for U.S. dollar, all these are not positive for the stock market.

Positions and Plan:

1. I made lot of changes this Friday to change my holdings, based on some research I did in gold and silver stocks.
2. Sold PAAS call options and stock to take profit.
3. Sold a small part of GDX.
4. Sold last ABX and ORCL positions.
5. Bought FRG, SSRI and AEM.
6. Bought RIMM March 130 put. I know this is very risky, but I could not help it. It ran up on light volume, and I don't see it holds there.
7. Overall, I increased cash position.
8. Plan is to add RIMM put again should it pass 135. Next target is 140. I think March put maybe too risky, should use Jan.2008 put.
9. I'll add FRG, SSRI and AEM next week when I have chance.
10. Continue to hold QID, but patience will be rewarded by wait for the best entry.