Closed position -- slight loss

I had a few chances to close out this long position with a slight gain, but held on. The market tanked but has come back in the las few days. Closed out QQQ FM with a slight loss.

Peeking over the hedge

So even though the market's been in a downslide lately, I'm looking to go long. The RSI 5 has gone below 20 again and with such a selloff lately, we are poised for a short bounce up. When the SMA (2) crosses the price line I'll go long the QQQ FM (currently around $0.30).


UPDATE: Purchased QQQFM (June 39 Calls) for $0.30. Quote went $0.25/$0.30 and filled me at $0.30. Current quote is $0.30/$0.35.

OUT!

Wow, the premarket move up started coming back down just before the open (Q's were at $40.20 and opened around $40). I got out of the options at $1.20 (market order - GET ME OUT). I got a $0.45/contract profit which is a 60% profit on this trade. Nice!

Exit is coming soon

Whew! So I held on to the QQQFM calls while they dipped and stayed low, but yesterday the market took off like a rocket and this morning (pre-market) shows the Q's moving up again. I'll be poised to exit my call position today. QQQFM closed around $1.05 but should be higher this morning. RSI 5 is thru the roof and although it will probably continue up after I get out, I've already reached my $0.40/contract profit goal.