Daily Update

Today the market gaped up HUGE at open and actually closed near the day's high. This tells me that the markets are still strong and we will probably not see a double dip. Will watch the markets during this week for confirmation of this. Bought back into IMAX today with the September $19 calls @ $2.30 and here is why:
“Iron Man 2” — May 7
“Shrek Forever After” — May 21
“Prince of Persia: The Sands of Time” — May 28
“Toy Story 3” — June 18
“The Twilight Saga: Eclipse” — June 30

BaBAM! This summer line up is going to absolutely murder at the box office. Not only that but Iron Man 2 grossed $10.2million beating Avatar which earned $9.5million which opened on 2 fewer screens. WOW! In my opinion when a movie comes anywhere close to Avatar, you better be invested.
My current open positions are:
IMAX September 19 call @ 2.30
EJ August 17.50 call @ .85
(2) SIRI June 1.00 calls @ .15
GMCR May 95 call @ 2.00

If you have been following my blog you know that my GMCR trade absolutely killed my account. Not only that but my overweight IMAX positions suffered horribly last week. Luckily I purchased a hedge on my IMAX positions and was able to pull 200% off of it. In all of this turmoil I actually believe I am becoming a better trader. I am becoming wiser to how certain stocks react (especially IMAX). Today when I decided I wanted to get back into IMAX I held off entering and actually pulled the trigger at the low of the day. Normally I would have jumped in as soon as I saw IMAX gap up as it did this morning. Patience and knowing how IMAX trades helped me get in at a great value.

Today I began researching 4G wireless internet especially LTE (Long Term Evolution). 4G is the next generation of faster, bigger bandwidth, wireless internet. Currently wireless hotspots have a range of a couple hundred feet. LTE and WiMax have ranges of around 3 to 5 miles with speeds up to 1 gigabyte per second!!! Everything I read about wireless internet I always hear about bandwidth problems especially with AT&T and the iPhone and recently released iPad. Sprint has already begun to roll out their 4G network and Verizon and AT&T are close behind. In searching for a way to invest in this technology I finally settled on Qualcomm (QCOM). 23% of QCOM's revenue comes from China and they are currently making LTE mobile chips. Not only is QCOM a blue-chip company, but they stand to profit handsomely from the 4G revolution. I am looking to invest in some far out LEAPS to try and capture this move to 4G in the next couple years. Will advise further as I collect more information.

I have finals this week and the next so I will be quite busy with school. I will keep an eye on the markets as this is a very exciting time :)