Author Archives: admin

About admin

Richard Cheng, M.D., Ph.D., is an avid Wall Street investor with 20+ years of investing experience. He is specially adept at observing the world to find the patterns and then design strategies to win his battle. Most, if not all, happenings in the world, follow certain patterns. These patterns may be complex, multi-factorial, not so intuitive at the first glance, or even may appear chaotic. However, even chaos has its own patterns. If you pay attention and be patient, you'll find them and then you will gain an upper hand in your battle. Using this blog space, he documents his trades and his thoughts as they happen. He uses this blog as a a notebook to help him better refine his strategies. Hopefully this will help you as well. Good luck in your trading.

Next week: bullish bias, watch for AMZN and MCP

Posted on December 11, 2011 by admin

Schaeffersresearch.com: bullishly biased.  Fear remains on the Street (favoring the bulls).  Major indexes are up against the resistance levels (implying potential pullbacks). But year end potential rally exists.  In the quadruple witching week, markets tend to be more positive, with … Continue reading →

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Weekly Summary and Next Week Condition: Cautiously Bullish

Posted on November 19, 2011 by admin

Schaeffersresearch.com: Cautiously bullish.  This week’s market action was driven mostly by the negative headlines from Europe, ignoring all the better than expected economic news from US.  The market appears to be trading in a new range: SP500 1220 – 1280. … Continue reading →

Posted in Daily Journal, Market Condition | Leave a comment

Market condition: bullish

Posted on November 12, 2011 by admin

Schaeffesresearch.com: “Technical speed bumps remain overhead, and headline risks linger, suggesting hedging is still a prudent strategy. But a breakout above resistance levels could be very rewarding for bulls, as short-covering activity and an abundance of sideline cash could provide … Continue reading →

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This week’s weakness may be a good chance to play catch up.

Posted on November 1, 2011 by admin

ChartAdvisor.com believes the trading pattern has changed and it’s set up for a year end rally.  Near term the markets are overextended, ready for a pullback.  Those who missed the October rally may want to jump in to catch the last … Continue reading →

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Market Condition: bullish with a possible short term downturn

Posted on October 16, 2011 by admin

Schaeffersresearch.com: bullish, but notes that the indexes are trading near the top of the trading range, with significant resistance overhead. Chartadvisor.com: no update this week (yet). My take: The last 2 weeks have been equally surprising as the last 2 … Continue reading →

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Wrote more covered calls of BIDU

Posted on September 27, 2011 by admin

Bought BIDU and sold BIDU calls (BIDU Sep 30 2011 125.0 Call).  Cost: 122.4.  2% return in 3 days, if BIDU stays above 125.      

Posted in Today's Trade | 2 Comments

Market Condition: range bound, cautiously bullish

Posted on September 24, 2011 by admin

Schaeffersresearch.com: Reasonably bullish as the indexes are trading at the bottom of the range and right above major supports.  “With equities pulling back to potential long-term support areas as negative sentiment continues to grow, now is a good time to … Continue reading →

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Wrote more covered calls of NFLX

Posted on September 21, 2011 by admin

Cost:$122.5/sh.  Strike: Oct $140.

Posted in Today's Trade | 2 Comments

Market Condition: range bound, cautious. Levels to watch, DJIA 11577, SPX 1225, COMP 2652, VIX 30

Posted on September 17, 2011 by admin

Schaeffersresearch.com: Chartadvisor.com: Both websites are painting a similar picture: while the last week’s market movements is positive, the indexes are still within a trading range.  Most of these indexes are approaching the higher end of the trading range, making it … Continue reading →

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Wrote more covered calls of NFLX

Posted on September 16, 2011 by admin

Bought NFLX and sold NFLX calls (Sept 23, $160), net cost: $153.42/sh.  Potential return (if NFLX stays above 160 by Sept 23rd): 13.7% in one week.

Posted in Today's Trade | 1 Comment