May
20
2010

  Updating the Baby Book

I finally got the urge to pull out that baby book and make some updates. I filled in the dates of W's teeth, and several "firsts", like first doctor's appointment, etc.

I also updated his 1st-month page. In order to do this, I had to go back and re-read my blog posts from 4/11/09 - 5/10/09. It took awhile to read all that, and from the random posts, discern the important things to remember for his baby book.

I'm not going to move on to month number two right now. I've only got 30 more minutes of W's naptime, and I'd like to use that time updating my charts and making some trading decisions. I've been short the market for months now, and despite being down 5-figures, I knew I just had to wait for the correction (or crash, too soon to say). So I held tight, and have been vindicated. My trades are now UP into the 4-digit profit range. I must come up with a strategy to cash out. And I must update my charts to do that. When I did my initial analysis of getting into the VXX, I listed the potential profit as up to, hmm, I didn't calculate the percentage. I got in in the low $30s, and charted out a target of $120. I didn't have to buy that many shares for it to add up to the equivalent of a low-paying annual salary. I figured it could take at least a year, if not more to play out. It's nowhere near that level now, but I need to review the charts to see if it's still on track to get there. Wouldn't it be cool if that trade worked out for me?