Friday, June 06, 2008

What a week!

Hog wild, no? Just 24 hrs ago, tech bulls were triumphant but by the end of the week, it is the bears who are on the top of the world! There is little doubt that both bears and bulls got hurt badly this week, I feel lucky as it turns out to be one of the best trading week I have ever had. Unfortunately, the week is littered with the same old mistakes: fear when I should be hopeful! I exited early in both FSLR and SOHU, capturing less than 50% of the entire move. Something has to be done to snap me out of this misery groundhog day!!!

Position update:

** SOHU: exited before I left for work when it was near 86 for a 0.9 point gain in puts, had I hold it, I would've been gained 2.2 points by close!!!

** AAPL: bought July 185 calls around 12.55 when it hit 186 in the closing minutes. I figure it will at least run up a bit on next Monday before Steve Job's presentation, who knows, AAPL might hit 200, but rest assured, I will once again have an early exit.

Got cures?


Anonymous said...

When you say have an early exit on AAPL I would think that you would be exiting before the Tuesday morning spike if in fact there is an annoucement on Monday concerning the iphone. I am planing on selling half my calls if there is a big runup on Monday and the rest on a Tuesday morning opening spike. Suggestions anyone?

flyingwabbit said...

the meeting will be on Monday, not sure when Job starts his presentation, probably will be around 10/11 AM PST. I am not so sure now about my trade as it seems many have the same plan to unload right before the meeting.

good luck!