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.
Thursday, September 22, 2005
Sept 22 - Still....long Oct 39 Calls
What a wild ride for the Q's today. The market opened down a bit from yesterday and then dropped from $39.48 to around $39.23. Suddenly the market bounced up to around $39.60 + and then back. That continued until about the last 2 hours of trading where the market went higher. Not high enough to take a profit and the Oct 39 calls I am in (at $0.55) ended the day at $0.50/$0.55. I was so close to pulling the trigger to stop my loss today but I held on and I am a bit distressed about holding my calls as hurricane Rita makes headway towards Houston. The RSI (5) Hourly ended around the 50 mark. All things considered, I will most likely exit the position tomorrow regardless of the signal due to Rita. I am thinking about a put trade as a gamble with Rita. To be continued...
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment