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Post by cosmic on Dec 20, 2010 9:38:11 GMT -5
Sold IWM calls I picked up Wednesday near the close today for a 17% gain.
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Post by Rich on Dec 20, 2010 10:21:04 GMT -5
bang boom bang
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Post by cosmic on Dec 20, 2010 10:24:56 GMT -5
That was a weird hold, Rich, especially this morning. They opened at 1.70 or so, I was nice and green after the weekend. Within a few minutes of the open, they just started falling and falling and falling and I almost panicked.
Instead I put a sell in at 1.72 (current price was like 1.58), and waited. Within about 10 minutes, it hit. Got up to 1.80, and then tanked again.
The whole time I was watching EDC for some reason, and it kept making new lows. That was my main indicator for why I sold the position.
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Post by Rich on Dec 20, 2010 10:31:28 GMT -5
I unloaded the ire also.
KSU is next, crap, big loser. I may as well hold them now.
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Post by cosmic on Dec 20, 2010 10:31:35 GMT -5
I added a few puts on X, Jan 57.5 strike at 1.95-2.00. This one is riskier even than IWM.
What is wrong with me lol?
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Post by Rich on Dec 20, 2010 10:36:34 GMT -5
I was looking at spy puts....toppy, very toppy....
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Post by cosmic on Dec 20, 2010 10:48:13 GMT -5
It feels that way. Today the TRIN is low, and the market is red.
All last week, TRIN was high and the market was green.
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Post by Rich on Dec 20, 2010 10:51:35 GMT -5
which means, of course, we should buy the dip.
where's that clinton?
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Post by cosmic on Dec 20, 2010 10:55:15 GMT -5
lol yup that's what it also feels like, which is why the X trade is so counterintuitive.
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Post by Rich on Dec 20, 2010 10:59:29 GMT -5
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