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.
Wednesday, September 28, 2005
Trading position update
Holding long the Oct 39 Puts (QQQVM) purchased at $0.55. Yesterday the Nocona RSI (5) system came VERY close to signaling a cover, but it never quite got there. This is an example of maybe a time to override the system and get out as my profits would have been around the $0.20 to $0.25 profit range (per contract). This profit range is about the max you can expect without an opening gap in your trading direction. This morning the futures popped up and the Q's opened around $38.80 after closing yesterday at $38.67. I'm still on the short side.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment