A trading journal site following the in's and out's of the trading day through my eyes. Market sense and commentary. In no way should this be interpreted as a site for recommendations or stock picks. If you treat it as such, do so at your own risk and may God have mercy on your soul.
Tuesday, September 27, 2005
Current position
The market is fluxuating around being flat this morning and the Q's are currently at $38.73. I'm still long the Oct. 39 puts at $0.55 (QQQVM) and they are trading at $0.60/$0.65. The RSI (5) is at $61.71 and yet the Q's are still drifting lower. I like the quick down moves and then a little move up to keep the RSI above the 30 level. This allows me to hold the profitable position longer being a signal to cover. Let the profits run!!!! Good trading!
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