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.

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