US Options

Bought 2 US out of the money march calls

• Bought 6 Novartis(NVS-N) mar07 60 Call 16 Mar 2007 @ 0.65 Net 450$

• Bought 4 RACK mar07 22.50 Call 16 Mar 2007 @ 1 Net 440$

DOW

Closed Dow spreadtrade @ 12563.
68 point gain.
I hate to see a profit turn into a loss so although the dow should be good for another40-50 points at least I closed out on a small pullback + FOMC affect tonight hard to guess.

2 UK Buys

Small buys - property related - 1st Quarter good for these co. s usually.
Both are pullbacks in an uptrend so should be good entry.
Both good value long term + pay > 2% div so hold + buy more if price drops.
Should work as trades also but not bought strictly for that reason.

Date Debit Reference Description

31 Jan 990.86 T1186395 Buy 130 Slough Estates @ 748.84p

31 Jan 862.51 T1186393 Buy 140 Ben Bailey @ 604.13p

Trades 30 Jan 2007

All trades are main account unless otherwise stated

Debit Credit Reference Description

0.00 178.20 T1185690 Sell to open 1 WPP sep07 680 Put @ 21.5p

0.00 611.40 T1185741 Sell to close 2 National Grid mar07 750 Call @ 32p opened 4th Jan at 22.5 : gross profit = 42% Net = 125

Nat Grid looks good to go higher but may pull back in short term & the clock is eroding the time value of the march calls.

WPP looks well positioned in the global media / advertising sector with good news flow and reasonable valuation + presence in Asia + growing digital/ web presence + olympics next year + good chart uptrend ….all positive. So I don’t mind being paid to buy WPP at a discount in Sept.

DOW

Opened a small buy spreadtrade ( sounds better than spreadbet doesn't it) with dow at 12495
stop at 12390

UK Trades 24-29 Jan2007 Main Account

Date	Debit	Credit	Reference	Description
29 Jan 2007	0.00	1,312.50	T1184886	Sell 2500 Ceramic Fuels Cells @ 53p
Grossprofit = 26% Net=£240
24 Jan 2007	0.00	341.40	T1182268	Sell to open 2 Logica sep07 170 Call @ 19p
24 Jan 2007	0.00	151.40	T1182263	Sell to open 2 Logica sep07 160 Put @ 9.5p

Trading the DOW

For the last 5 months the dow has had a remarkably good smooth trend channel. I don't know when it will stop but the safest way to play it is to buy the pullbacks of around 1-150 points from a high + sell at a new high or 50-100 point gain.
....

Euro Denominated Stock

Just holding 1 euro denominated stock - listed on AIM. Very good value levered German commercial property fund. This one is for longer term investment not trading.

Stock Positions:

Currency	Stock Code	Security Name	Long	Short	Price	Closing Price	Net P & L	Percentage P & L
EUR	SGL	SUMMIT GERMANY	10,000	0	1.1840	1.2000	160.00	1.35

Bought as follows….

Currency: EUR

Date	Debit	Credit	Reference	Description
19 Jan 2007	2,451.15	0.00	T1179747	Buy 2000 SUMMIT GERMANY @ e1.21
17 Jan 2007	4,841.95	0.00	T1177269	Buy 4000 SUMMIT GERMANY @ e1.195
15 Jan 2007	4,682.10	0.00	T1174235A	Buy 4000 SUMMIT GERMANY @ e1.16. Traded 12 jan 07

US Stocks+ Options + Div.s 1-24 Jan 2007

Date	Debit	Credit	Reference	Description
23 Jan 2007	1,305.15	0.00	T1181824	Buy 40 Ishares Inc. MSCI Sweden @ $32.23
22 Jan 2007	2,127.45	0.00	T1180987	Buy 50 Triad Hosps @ $42.23
05 Jan 2007	1,607.95	0.00	T1169415	Buy 8 Goldman Sachs @ $199
12 Jan 2007	0.00	1,906.05	T1174818	Sell 100 Global Sources @ $19.22
21 Dec 2006 1,689.95 T1162676 Buy 100 Global Sources @ $16.74
Net Profit = 216 USD
17 Jan 2007	0.00	1,551.55	T1177788	Sell 250 Level 3 Comm @ $6.27
01 Dec 2006 1380.00 T1146732 Buy 250 Level 3 Comm @ $5.46
Net Profit = 171.55 USD
17 Jan 2007	0.00	2,180.05	T1177787	Sell 80 Seagate Technology @ $27.45
30 Nov 2006 2,081.55 0.00 T1145158 Buy 80 Seagate Technology @ $25.82
Net Profit = 98.50 USD
12 Jan 2007	0.00	1,906.05	T1174818	Sell 100 Global Sources @ $19.22
21 Dec 2006 1,689.95 T1162676 Buy 100 Global Sources @ $16.74
Net Profit = 216 USD
US Option Trades
12 Jan 2007	0.00	2,380.00	T1174912	Sell to close 1 Apple Computer Inc apr07 72.5 Call @ $23.9
29 Nov 2006 2,250.00 T1143933 Buy to open 1 Apple Computer Inc apr07 72.5 Call @ $22.4
Net Profit = 130 USD
12 Jan 2007	0.00	1,620.00	T1174911	Sell to close 1 GOOGLE INC jan07 490 Call @ $16.3
29 Nov 2006 2,040.00 T1143977 Buy to open 1 GOOGLE INC jan07 490 Call @ $20.3
Net loss = 420 USD
12 Jan 2007	0.00	1,906.05	T1174818	Sell 100 Global Sources @ $19.22
21 Dec 2006 1,689.95 T1162676 Buy 100 Global Sources @ $16.74
Net Profit = 216 USD
Dividends
11 Jan 2007	0.00	14.62	A4401765	Dividend Payment of 73.101p per share in Common Stock Altria Group Inc.
22 Jan 2007	0.00	16.72	A4471116	Dividend Payment of 16.721p per share in TRUST UNITS CANETIC RESOURCES
Total Div	31.34

UK Share Trades + Dividends Jan1-24 2007

Date	Debit	Credit	Reference	Description
23 Jan 2007	2,028.92	0.00	T1181772	Buy 1600 HELESI PLC @ 124p
23 Jan 2007	776.68	0.00	T1181659	Buy 700 RC GROUP HLDGS @ 108 5/8p
22 Jan 2007	5,672.09	0.00	T1180366	Buy 2200 Tomkins @ 255.409p
22 Jan 2007	0.00	2,140.50	T1180187	Sell 2500 CAP-XX Ltd @ 86.62p
16 Nov 2006 2,377.32 T1134142 Buy 3000 CAP-XX Ltd @ 77.5p
* Gross Profit = 228 … Up on director buys + left small holding
22 Jan 2007	0.00	2,814.50	T1180186	Sell 880 GKN plc @ 322.671p
05 Jan 2007	3,009.85	0.00	T1168595	Buy 1000 GKN plc @ 297p
* Gross Profit = 205 …quick profit + left small holding
19 Jan 2007	0.00	1,688.85	T1179712	Sell 140 Latchways @ 1215 1/4p
21 Dec 2006				Buy 140 Latchways @ 1205p
*Exit due to volatility low volume + trend break …breakeven
19 Jan 2007	880.37	0.00	T1179182	Buy 225 Aero Inventory PLC @ 383.8p
19 Jan 2007	108.93	0.00	T1179178	Buy 25 Aero Inventory PLC @ 383.8p
08 Jan 2007	3,705.94	0.00	T1170024	Buy 1000 International Power Plc @ 362.439p
05 Jan 2007	1,086.59	0.00	T1169073	Buy 2500 Ceramic Fuels Cells @ 42 3/4p
05 Jan 2007	1,077.80	0.00	T1168609	Buy 4000 EBT Mobile China plc @ 26 1/2p
Dividends
08 Jan 2007	0.00	40.50	A4373216	Dividend Payment of 1.35p per share in ORD GBP0.10 ITV

UK Option Trades (GBP) from 4-24 Jan 2007

Date	Debit	Credit	Reference	Description
24 Jan 2007	0.00	357.80	T1182307	Sell to open 4 Glaxo Smithkline mar07 1300 Put @ 10p
24 Jan 2007	0.00	341.40	T1182268	Sell to open 2 Logica sep07 170 Call @ 19p
24 Jan 2007	0.00	151.40	T1182263	Sell to open 2 Logica sep07 160 Put @ 9.5p
23 Jan 2007	258.60	0.00	T1181254	Buy to close 2 Logica mar07 180 Put @ 11.5p
23 Jan 2007	138.60	0.00	T1181253	Buy to close 2 Logica mar07 180 Call @ 5.5p
22 Jan 2007	0.00	366.40	T1180371	Sell to open 2 Tomkins jun07 260 Put @ 20.25p
22 Jan 2007	0.00	231.40	T1180370	Sell to open 2 Tomkins jun07 260 Call @ 13.5p
18 Jan 2007	157.90	0.00	T1178732	Buy to close 3 Arm Holdings mar07 120 Put @ 4.25p
08 Jan 2007	0.00	203.20	T1170026A	Sell to open 1 International Power Plc jun07 360 Call @ 24p
08 Jan 2007	0.00	153.20	T1170025A	Sell to open 1 International Power Plc jun07 360 Put @ 19p
05 Jan 2007	0.00	588.20	T1168439	Sell to close 1 Shire Plc mar07 1100 Call @ 61.5p
*07 Dec 2006- 446.80 T1150739Buy to open 1 Shire Plc mar07 1100 Call @ 41p
*Net Profit from Shire call = 142.2 (or approx 50% on option prices before costs)
04 Jan 2007	488.60	0.00	T1167740	Buy to open 2 National Grid Transco plc mar07 750 Call @ 22.5p