Thursday, July 16, 2009

Why we sold the overnight

Well I definitely spotted the bear flag and Im glad some of my competitors are reading me I take it as a compliment anyway there is more to it for me
Oil has had to be escorted the whole way up and really obviously has not even come too far
The market may go back up again and if it does it will continue to pull oil but gravity has this
in its grips and anytime to the market lets go it seems to fall right back into the range
we have been trading-yes we resold the re-open we we thinki we will want to be short at least
until the AM this has already fallen .75 from where I sold so I will move my stop as I can't monitor in my sleep. We have some more housing numbers and more earnings
Google was hard to decipher-I expected bad the way it reacted they expected better
IBM solid on the other hand so overall more help on balance We will definitely buy some protection for the secondary account this time rather than call sell If you eat the premium
you cant be mad for doing the safe move
My only real regret is RIMM We beautifully exited with the 80 puts but we should have bought some calls we had even discussed it with a member via email just somehow thought they might get even cheaper that one certainly got away hard to buy here










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